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Unaudited Financial Statements for the Year Ended 30 September 2023

for

SysTec Limited

SysTec Limited (Registered number: 06665053)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SysTec Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: M Begg
Mrs R E Begg





REGISTERED OFFICE: Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR





REGISTERED NUMBER: 06665053 (England and Wales)





ACCOUNTANTS: Peter Upton
Chartered Accountant
Bridge House
2 Bridge Avenue
Maidenhead
Berkshire
SL6 1RR

SysTec Limited (Registered number: 06665053)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,366 9,600

CURRENT ASSETS
Cash at bank and in hand 65,024 81,515

CREDITORS
Amounts falling due within one year 5 46,426 17,086
NET CURRENT ASSETS 18,598 64,429
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,964

74,029

PROVISIONS FOR LIABILITIES 6 2,215 1,756
NET ASSETS 26,749 72,273

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 26,747 72,271
SHAREHOLDERS' FUNDS 26,749 72,273

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 4 April 2024 and were signed on its behalf by:





M Begg - Director


SysTec Limited (Registered number: 06665053)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

SysTec 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.

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 - 20% on reducing balance
Office & sundry equipment - 20% on reducing balance

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.

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 4 (2022 - 4 ) .

SysTec Limited (Registered number: 06665053)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures Office &
and sundry
fittings equipment Totals
£    £    £   
COST
At 1 October 2022 9,060 11,259 20,319
Additions 927 2,778 3,705
At 30 September 2023 9,987 14,037 24,024
DEPRECIATION
At 1 October 2022 4,431 6,288 10,719
Charge for year 1,389 1,550 2,939
At 30 September 2023 5,820 7,838 13,658
NET BOOK VALUE
At 30 September 2023 4,167 6,199 10,366
At 30 September 2022 4,629 4,971 9,600

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Tax 27,050 8,625
VAT 10,398 4,444
Other creditors 5,927 516
Social security and other tax 337 260
Directors' current accounts 1,464 2,241
Accruals and deferred income 1,250 1,000
46,426 17,086

6. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 2,215 1,756

Deferred
tax
£   
Balance at 1 October 2022 1,756
Provided during year 459
Balance at 30 September 2023 2,215

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
2 Ordinary 1 2 2

SysTec Limited (Registered number: 06665053)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. RESERVES
Retained
earnings
£   

At 1 October 2022 72,271
Profit for the year 103,476
Dividends (149,000 )
At 30 September 2023 26,747