IRIS Accounts Production v23.3.1.45 09396355 director 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093963552022-03-31093963552023-03-31093963552022-04-012023-03-31093963552021-03-31093963552021-04-012022-03-31093963552022-03-3109396355ns10:Originalns15:EnglandWales2022-04-012023-03-3109396355ns14:PoundSterlingns10:Original2022-04-012023-03-3109396355ns10:Originalns10:Director12022-04-012023-03-3109396355ns10:Original2022-04-012023-03-3109396355ns10:Original2023-03-3109396355ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3109396355ns10:Originalns10:SmallEntities2022-04-012023-03-3109396355ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3109396355ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3109396355ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3109396355ns10:Originalns10:FullAccounts2022-04-012023-03-3109396355ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3109396355ns10:Originalns10:RegisteredOffice2022-04-012023-03-3109396355ns10:Original2022-03-3109396355ns10:Originalns5:CurrentFinancialInstruments2023-03-3109396355ns10:Originalns5:CurrentFinancialInstruments2022-03-3109396355ns5:ShareCapitalns10:Original2023-03-3109396355ns5:ShareCapitalns10:Original2022-03-3109396355ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3109396355ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3109396355ns10:Originalns5:FurnitureFittings2022-04-012023-03-3109396355ns10:Originalns5:MotorVehicles2022-04-012023-03-3109396355ns10:Originalns5:ComputerEquipment2022-04-012023-03-3109396355ns10:Original2021-04-012022-03-3109396355ns10:Originalns5:FurnitureFittings2022-03-3109396355ns10:Originalns5:MotorVehicles2022-03-3109396355ns10:Originalns5:ComputerEquipment2022-03-3109396355ns10:Original2022-03-3109396355ns10:Originalns5:FurnitureFittings2023-03-3109396355ns10:Originalns5:MotorVehicles2023-03-3109396355ns10:Originalns5:ComputerEquipment2023-03-3109396355ns10:Originalns5:FurnitureFittings2022-03-3109396355ns10:Originalns5:MotorVehicles2022-03-3109396355ns10:Originalns5:ComputerEquipment2022-03-3109396355ns10:Originalns5:CostValuation2022-03-3109396355ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3109396355ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3109396355ns10:Originalns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 09396355 (England and Wales)















Financial Statements

for the Year Ended 31 March 2023

for

STRASYS LIMITED

STRASYS LIMITED (REGISTERED NUMBER: 09396355)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STRASYS LIMITED

Company Information
for the year ended 31 March 2023







Director: Mr N Younis





Registered office: 3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ





Registered number: 09396355 (England and Wales)





Accountants: Haines Watts North London LLP
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

STRASYS LIMITED (REGISTERED NUMBER: 09396355)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 21,078 24,536
Investments 5 20,281 20,281
41,359 44,817

Current assets
Debtors 6 134,591 550,291
Cash at bank 709,893 463,358
844,484 1,013,649
Creditors
Amounts falling due within one year 7 144,375 367,965
Net current assets 700,109 645,684
Total assets less current liabilities 741,468 690,501

Provisions for liabilities 5,270 6,134
Net assets 736,198 684,367

Capital and reserves
Called up share capital 8 1 1
Retained earnings 736,197 684,366
Shareholders' funds 736,198 684,367

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

STRASYS LIMITED (REGISTERED NUMBER: 09396355)

Balance Sheet - continued
31 March 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 December 2023 and were signed by:





Mr N Younis - Director


STRASYS LIMITED (REGISTERED NUMBER: 09396355)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Strasys Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating deferred tax. A review of the deferred tax provision is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability or asset.

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.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

STRASYS LIMITED (REGISTERED NUMBER: 09396355)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 3 (2022 - 2 ) .

STRASYS LIMITED (REGISTERED NUMBER: 09396355)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. Tangible fixed assets
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
Cost
At 1 April 2022 5,656 47,290 14,159 67,105
Additions - - 5,825 5,825
At 31 March 2023 5,656 47,290 19,984 72,930
Depreciation
At 1 April 2022 3,411 27,340 11,818 42,569
Charge for year 974 4,987 3,322 9,283
At 31 March 2023 4,385 32,327 15,140 51,852
Net book value
At 31 March 2023 1,271 14,963 4,844 21,078
At 31 March 2022 2,245 19,950 2,341 24,536

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 April 2022
and 31 March 2023 20,281
Net book value
At 31 March 2023 20,281
At 31 March 2022 20,281

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 41,281 538,386
Other debtors 93,310 11,905
134,591 550,291

STRASYS LIMITED (REGISTERED NUMBER: 09396355)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 1,140 1,140
Taxation and social security 139,460 277,713
Other creditors 3,775 89,112
144,375 367,965

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1 Ordinary £1 1 1