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REGISTERED NUMBER: 02793527















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Systems Managers Limited

Systems Managers Limited (Registered number: 02793527)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Systems Managers Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: I C P Cassidy
Mrs Z Cassidy





SECRETARY: I C P Cassidy





REGISTERED OFFICE: 33 Holmwood Park
Crossford
ML8 5SZ





REGISTERED NUMBER: 02793527





ACCOUNTANTS: My Accountant Friend
50 St. Marys Road
Hemel Hempstead
Hertfordshire
HP2 5HL

Systems Managers Limited (Registered number: 02793527)

Statement of Financial Position
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,802 6,378

CURRENT ASSETS
Debtors 5 1,627 7,691
Cash at bank 6,357 615
7,984 8,306
CREDITORS
Amounts falling due within one year 6 117,654 52,165
NET CURRENT LIABILITIES (109,670 ) (43,859 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(50,868

)

(37,481

)

CAPITAL AND RESERVES
Called up share capital 5,100 5,100
Retained earnings (55,968 ) (42,581 )
SHAREHOLDERS' FUNDS (50,868 ) (37,481 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:





I C P Cassidy - Director


Systems Managers Limited (Registered number: 02793527)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Systems Managers Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Systems Managers Limited (Registered number: 02793527)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2022 - 33,900 23,588 21,079 78,567
Additions 6,310 - 58,180 2,693 67,183
At 28 February 2023 6,310 33,900 81,768 23,772 145,750
DEPRECIATION
At 1 March 2022 - 28,072 23,588 20,529 72,189
Charge for year 2,082 2,054 8,727 1,896 14,759
At 28 February 2023 2,082 30,126 32,315 22,425 86,948
NET BOOK VALUE
At 28 February 2023 4,228 3,774 49,453 1,347 58,802
At 28 February 2022 - 5,828 - 550 6,378

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 1,627 7,425
VAT - 266
1,627 7,691

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 51,280 52,165
Trade creditors 62,164 -
Social security and other taxes 69 -
VAT 4,141 -
117,654 52,165