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REGISTERED NUMBER: 01419902 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

FINANCIAL AND MANAGEMENT INFORMATION
SYSTEMS LTD

FINANCIAL AND MANAGEMENT INFORMATION
SYSTEMS LTD (REGISTERED NUMBER: 01419902)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FINANCIAL AND MANAGEMENT INFORMATION
SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Mrs J M Clements
J W F Clements



REGISTERED OFFICE: 167B John Wilson Business Park
Harvey Drive
Chestfield
Whitstable
Kent
CT5 3RA



REGISTERED NUMBER: 01419902 (England and Wales)



ACCOUNTANTS: Kemp Carr Brown & Co.
55 East Street
Faversham
Kent
ME13 8AF



BANKERS: H.S.B.C.
115 High Street
Sittingbourne
Kent
ME10 4AL

FINANCIAL AND MANAGEMENT INFORMATION
SYSTEMS LTD (REGISTERED NUMBER: 01419902)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,057 650
Tangible assets 5 571,684 584,575
572,741 585,225

CURRENT ASSETS
Debtors 6 567,891 124,219
Cash at bank 680,096 969,774
1,247,987 1,093,993
CREDITORS
Amounts falling due within one year 7 368,968 304,566
NET CURRENT ASSETS 879,019 789,427
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,451,760

1,374,652

PROVISIONS FOR LIABILITIES 1,336 2,240
NET ASSETS 1,450,424 1,372,412

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 46,847 46,847
Retained earnings 1,403,377 1,325,365
SHAREHOLDERS' FUNDS 1,450,424 1,372,412

FINANCIAL AND MANAGEMENT INFORMATION
SYSTEMS LTD (REGISTERED NUMBER: 01419902)

BALANCE SHEET - continued
31 MAY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 13 November 2023 and were signed on its behalf by:




Mrs J M Clements - Director



J W F Clements - Director


FINANCIAL AND MANAGEMENT INFORMATION
SYSTEMS LTD (REGISTERED NUMBER: 01419902)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Financial and Management Information Systems Ltd is a private company, limited by shares , registered in England and Wales. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost and 1.25% on cost
Improvements to property - 20% on cost and 10% on cost
Office equipment - 20% on cost and 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% 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 balance sheet date.


FINANCIAL AND MANAGEMENT INFORMATION
SYSTEMS LTD (REGISTERED NUMBER: 01419902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Development Computer
costs software Totals
£    £    £   
COST
At 1 June 2022 33,013 58,263 91,276
Additions - 1,846 1,846
At 31 May 2023 33,013 60,109 93,122
AMORTISATION
At 1 June 2022 33,013 57,613 90,626
Amortisation for year - 1,439 1,439
At 31 May 2023 33,013 59,052 92,065
NET BOOK VALUE
At 31 May 2023 - 1,057 1,057
At 31 May 2022 - 650 650

FINANCIAL AND MANAGEMENT INFORMATION
SYSTEMS LTD (REGISTERED NUMBER: 01419902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. TANGIBLE FIXED ASSETS
Improvements
Long to
leasehold property Website
£    £    £   
COST
At 1 June 2022 597,124 1,526 11,629
Additions - - -
At 31 May 2023 597,124 1,526 11,629
DEPRECIATION
At 1 June 2022 31,671 1,515 10,157
Charge for year 7,182 11 680
At 31 May 2023 38,853 1,526 10,837
NET BOOK VALUE
At 31 May 2023 558,271 - 792
At 31 May 2022 565,453 11 1,472

Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 43,147 17,500 104,011 774,937
Additions 623 - 1,931 2,554
At 31 May 2023 43,770 17,500 105,942 777,491
DEPRECIATION
At 1 June 2022 39,737 17,500 89,782 190,362
Charge for year 1,853 - 5,719 15,445
At 31 May 2023 41,590 17,500 95,501 205,807
NET BOOK VALUE
At 31 May 2023 2,180 - 10,441 571,684
At 31 May 2022 3,410 - 14,229 584,575

FINANCIAL AND MANAGEMENT INFORMATION
SYSTEMS LTD (REGISTERED NUMBER: 01419902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 180,240 121,397
Other debtors 1,024 -
Directors' loan accounts 386,000 -
Prepayments 627 2,822
567,891 124,219

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors - 438
Deferred income 340,481 217,791
Tax 8,925 72,623
VAT 16,862 11,014
Accrued expenses 2,700 2,700
368,968 304,566

Deferred income of £340481 (2022 - £217791) is income applicable to service and support contracts for the period subsequent to 31 May 2023.