REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 SEPTEMBER 2023 |
FOR |
COMPUTING INFORMATION SYSTEMS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
30 SEPTEMBER 2023 |
FOR |
COMPUTING INFORMATION SYSTEMS LIMITED |
COMPUTING INFORMATION SYSTEMS LIMITED (REGISTERED NUMBER: 02420578) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
COMPUTING INFORMATION SYSTEMS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Hillside |
Albion Street |
Chipping Norton |
Oxfordshire |
OX7 5BH |
COMPUTING INFORMATION SYSTEMS LIMITED (REGISTERED NUMBER: 02420578) |
BALANCE SHEET |
30 SEPTEMBER 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
COMPUTING INFORMATION SYSTEMS LIMITED (REGISTERED NUMBER: 02420578) |
BALANCE SHEET - continued |
30 SEPTEMBER 2023 |
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 |
COMPUTING INFORMATION SYSTEMS LIMITED (REGISTERED NUMBER: 02420578) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
Computing Information Systems Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoices for the supply of goods and services carried out in the accounting period, excluding value added tax. |
Where income is received in advance in respect of support contracts it is deferred and released in the accounting period to which it relates. |
Goodwill |
Goodwill, being the amount paid for three businesses, one in 2014, one in 2016 and one in 2019 is being amortised evenly over the respective estimated useful lives for 2.5 years and 10 years. |
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. |
Tangible fixed assets |
Office equipment | - |
Motor vehicles | - |
IT & data centre | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 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. |
COMPUTING INFORMATION SYSTEMS LIMITED (REGISTERED NUMBER: 02420578) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 |
AMORTISATION |
At 1 October 2022 |
Amortisation for year |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | TANGIBLE FIXED ASSETS |
Office | Motor | IT & data |
equipment | vehicles | centre | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
COMPUTING INFORMATION SYSTEMS LIMITED (REGISTERED NUMBER: 02420578) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Trade debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 132,629 | 122,970 |
Proposed dividends | - | 238,027 |
Pension |
Directors' current accounts | 81,351 | - |
Accrued expenses |
8. | SECURED DEBTS |
There is a fixed and floating charge over the assets of the company dated 10 June 2016 in favour of Svenska Handelsbanken AB (Publ). |
9. | PROVISIONS FOR LIABILITIES |
30.9.23 | 30.9.22 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1 October 2022 |
Utilised during year | ( |
) |
Balance at 30 September 2023 |
10. | ULTIMATE CONTROLLING PARTY |
The company is under the joint control of the directors. |