Company registration number 03693346 (England and Wales)
SYSTONOMY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
SYSTONOMY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SYSTONOMY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,643
1,631
Current assets
Debtors
4
1,105
5,385
Cash at bank and in hand
67,618
71,246
68,723
76,631
Creditors: amounts falling due within one year
5
(88,431)
(89,228)
Net current liabilities
(19,708)
(12,597)
Net liabilities
(18,065)
(10,966)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(18,067)
(10,968)
Total equity
(18,065)
(10,966)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 19 March 2024
Dr R Oudrhiri
Director
Company registration number 03693346 (England and Wales)
SYSTONOMY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Systonomy Limited is a private company limited by shares incorporated in England and Wales. The registered office is 32 Balmoral Gardens, London, W13 9UA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
25% Reducing balance
Fixtures, fittings and equipment
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

SYSTONOMY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

SYSTONOMY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
6,090
Additions
559
At 31 March 2023
6,649
Depreciation and impairment
At 1 April 2022
4,459
Depreciation charged in the year
547
At 31 March 2023
5,006
Carrying amount
At 31 March 2023
1,643
At 31 March 2022
1,631
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,105
5,385
SYSTONOMY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
-
0
6,114
Trade creditors
7,348
-
0
Corporation tax
-
0
1,765
Other taxation and social security
182
3,361
Other creditors
77,866
68,940
Accruals and deferred income
3,035
9,048
88,431
89,228
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
7
Directors' transactions

Included in other creditors amounts falling due within one year is an amount owed to the director of £77,866 (2022: £58,702). This amount is interest free and repayable on demand.

2023-03-312022-04-01false19 March 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityDr R OudrhiriMrs F Oudrhiri036933462022-04-012023-03-31036933462023-03-31036933462022-03-3103693346core:OtherPropertyPlantEquipment2023-03-3103693346core:OtherPropertyPlantEquipment2022-03-3103693346core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3103693346core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3103693346core:CurrentFinancialInstruments2023-03-3103693346core:CurrentFinancialInstruments2022-03-3103693346core:ShareCapital2023-03-3103693346core:ShareCapital2022-03-3103693346core:RetainedEarningsAccumulatedLosses2023-03-3103693346core:RetainedEarningsAccumulatedLosses2022-03-3103693346bus:Director12022-04-012023-03-3103693346core:FurnitureFittings2022-04-012023-03-3103693346core:ComputerEquipment2022-04-012023-03-31036933462021-04-012022-03-3103693346core:OtherPropertyPlantEquipment2022-03-3103693346core:OtherPropertyPlantEquipment2022-04-012023-03-3103693346core:WithinOneYear2023-03-3103693346core:WithinOneYear2022-03-3103693346bus:PrivateLimitedCompanyLtd2022-04-012023-03-3103693346bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3103693346bus:FRS1022022-04-012023-03-3103693346bus:AuditExemptWithAccountantsReport2022-04-012023-03-3103693346bus:CompanySecretary12022-04-012023-03-3103693346bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP