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REGISTERED NUMBER: 03202850 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Acctive Systems Limited

Acctive Systems Limited (Registered number: 03202850)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Acctive Systems Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: S Goodman
G Numa





REGISTERED OFFICE: Capscade Yard
Station Road
Edenbridge
Kent
TN8 5NB





REGISTERED NUMBER: 03202850 (England and Wales)





ACCOUNTANTS: Clarke Goodhand Smith Limited
12a Marlborough Place
BRIGHTON
East Sussex
BN1 1WN

Acctive Systems Limited (Registered number: 03202850)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,871 7,885
Tangible assets 5 1,128,180 1,198,719
Investments 6 5,739 17,440
1,142,790 1,224,044

CURRENT ASSETS
Stocks 7 117,959 236,159
Debtors 8 1,266,544 683,503
Cash at bank and in hand 555,128 646,076
1,939,631 1,565,738
CREDITORS
Amounts falling due within one
year

9

1,573,251

1,276,389
NET CURRENT ASSETS 366,380 289,349
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,509,170

1,513,393

CREDITORS
Amounts falling due after more
than one year

10

287,937

323,466
NET ASSETS 1,221,233 1,189,927

CAPITAL AND RESERVES
Called up share capital 14 80 80
Share premium 15 19,971 19,971
Retained earnings 15 1,201,182 1,169,876
SHAREHOLDERS' FUNDS 1,221,233 1,189,927

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Acctive Systems Limited (Registered number: 03202850)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by:




G Numa - Director



S Goodman - Director


Acctive Systems Limited (Registered number: 03202850)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Acctive Systems 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Intangible fixed 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.

Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Vehicle plate - 20% on reducing balance

Freehold property
The policy of not providing depreciation on freehold property is in accordance with the revaluation model procedure laid down in Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The policy is a departure from the specific requirement of the Companies Act 2006 to provide depreciation on any fixed asset which has a limited useful economic life. The departure from the Companies Act 2006 requirement is for the overriding purpose of giving a true and fair view in accordance with Section 1A of Financial Reporting Standard 102.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Acctive Systems Limited (Registered number: 03202850)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Investments
Investments in shares are included at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Vehicle
plate
£   
COST
At 1 November 2022 11,882
Additions 2,606
At 31 October 2023 14,488
AMORTISATION
At 1 November 2022 3,997
Amortisation for year 1,620
At 31 October 2023 5,617
NET BOOK VALUE
At 31 October 2023 8,871
At 31 October 2022 7,885

Acctive Systems Limited (Registered number: 03202850)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 November 2022 880,398 32,841 146,058
Additions - - -
Disposals - - -
At 31 October 2023 880,398 32,841 146,058
DEPRECIATION
At 1 November 2022 - 17,839 139,501
Charge for year - 3,000 1,311
Eliminated on disposal - - -
At 31 October 2023 - 20,839 140,812
NET BOOK VALUE
At 31 October 2023 880,398 12,002 5,246
At 31 October 2022 880,398 15,002 6,557

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 808,407 246,781 2,114,485
Additions 151,248 - 151,248
Disposals (162,977 ) - (162,977 )
At 31 October 2023 796,678 246,781 2,102,756
DEPRECIATION
At 1 November 2022 540,924 217,502 915,766
Charge for year 210,156 7,320 221,787
Eliminated on disposal (162,977 ) - (162,977 )
At 31 October 2023 588,103 224,822 974,576
NET BOOK VALUE
At 31 October 2023 208,575 21,959 1,128,180
At 31 October 2022 267,483 29,279 1,198,719

Acctive Systems Limited (Registered number: 03202850)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022 309,355
Additions 75,369
At 31 October 2023 384,724
DEPRECIATION
At 1 November 2022 227,674
Charge for year 52,713
At 31 October 2023 280,387
NET BOOK VALUE
At 31 October 2023 104,337
At 31 October 2022 81,681

6. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 November 2022 17,440
Impairments (11,701 )
At 31 October 2023 5,739
NET BOOK VALUE
At 31 October 2023 5,739
At 31 October 2022 17,440

Cost or valuation at 31 October 2023 is represented by:

Listed
investments
£   
Valuation in 2022 (137,168 )
Valuation in 2023 (11,701 )
Cost 154,608
5,739

Acctive Systems Limited (Registered number: 03202850)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

7. STOCKS
31.10.23 31.10.22
£    £   
Stocks 101,651 85,545
Work-in-progress 16,308 150,614
117,959 236,159

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 1,095,545 290,354
Other debtors 132,000 373,697
Deferred tax asset 24,442 4,013
Prepayments and accrued income 14,557 15,439
1,266,544 683,503

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts (see note 11)
35,000

35,000
Hire purchase contracts (see note 12)
55,623

33,331
Trade creditors 537,870 587,703
Tax 48,566 32,301
Social security and other taxes 62,346 46,939
VAT 229,816 36,076
Accruals & deferred income 604,030 505,039
1,573,251 1,276,389

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 11) 239,166 274,166
Hire purchase contracts (see note 12)
48,771

49,300
287,937 323,466

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 99,166 134,166

Acctive Systems Limited (Registered number: 03202850)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

11. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 35,000 35,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 35,000 35,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 105,000 105,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 99,166 134,166

12. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.10.23 31.10.22
£    £   
Gross obligations repayable:
Within one year 59,410 35,672
Between one and five years 52,033 52,796
111,443 88,468

Finance charges repayable:
Within one year 3,787 2,341
Between one and five years 3,262 3,496
7,049 5,837

Net obligations repayable:
Within one year 55,623 33,331
Between one and five years 48,771 49,300
104,394 82,631

Acctive Systems Limited (Registered number: 03202850)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

13. DEFERRED TAX
£   
Balance at 1 November 2022 (4,013 )
Accelerated capital allowances (20,429 )
Balance at 31 October 2023 (24,442 )

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
69 Ordinary "A" £1 69 69
11 Ordinary "B" £1 11 11
80 80

15. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2022 1,169,876 19,971 1,189,847
Profit for the year 95,342 95,342
Dividends (64,036 ) (64,036 )
At 31 October 2023 1,201,182 19,971 1,221,153

16. CONTROLLING PARTY

The company is controlled by its director, S Goodman, by virtue of his ownership of the issued share capital.