REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
SESAME SYSTEMS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
SESAME SYSTEMS LIMITED |
SESAME SYSTEMS LIMITED (REGISTERED NUMBER: 03034156) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SESAME SYSTEMS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
SESAME SYSTEMS LIMITED (REGISTERED NUMBER: 03034156) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
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. |
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 |
SESAME SYSTEMS LIMITED (REGISTERED NUMBER: 03034156) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Sesame Systems Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total invoice value, excluding value added tax, of fees receivable during the year. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. | STOCKS |
2023 | 2022 |
£ | £ |
Work-in-progress |
SESAME SYSTEMS LIMITED (REGISTERED NUMBER: 03034156) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
Accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation Tax payable |
Social security and other taxes |
VAT | 907 | 565 |
Other creditors |
Bucknull & Masson loan account | 2,711 | 953 |
Accruals and deferred income |
The bank overdraft and a bank loan are secured by way of a personal guarantee given by a director. |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
A bank loan is secured by way of a personal guarantee given by a director. |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdrafts |
Bank loans | 27,823 | 40,685 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary £1 | 1 | 1,000 | 1,000 |
SESAME SYSTEMS LIMITED (REGISTERED NUMBER: 03034156) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2022 |
Profit for the year |
At 31 March 2023 |
11. | RELATED PARTY DISCLOSURES |
During the course of the year the company acquired consultancy, marketing and technical services in the normal course of business from Sesame Systems Europe BVBA (formerly Lexicom Pro BVBA) for £53,104 (2022: £56,313). The price paid was the normal market price in the case of each individual purchase. |
During the course of previous years the company also provided technical services in the normal course of business to Sesame Systems Europe BVBA (formerly Lexicom Pro BVBA). The fees charged represented the normal market price in the case of each individual sale. |
At the balance sheet date the amount due from Sesame Systems Europe BVBA (formerly Lexicom Pro BVBA) was £158,613 (2022: £162,210). |
Sesame Systems Europe BVBA (formerly Lexicom Pro BVBA) is incorporated in Belgium and is controlled by J van Steenis Bucknull. |
During the course of previous years the company made payments on behalf of Beluga Property Management and Interior Design Limited. |
At the balance sheet date the amount due from Beluga Property Management and Interior Design Limited was £2,293 (2022: £2,293). |
Beluga Property Management and Interior Design Limited is incorporated in England & Wales and is controlled by J van Steenis Bucknull. |
12. | ULTIMATE CONTROLLING PARTY |
The company is controlled by P J Masson by virtue of him holding a majority of the issued share capital. |
13. | TRANSACTIONS WITH DIRECTORS |
During the course of the year the company acquired consultancy, marketing and administrative services in the normal course of business from P J Masson trading as Bucknull & Masson for £124,800 (2022: £110,800). The price paid was the normal market price in the case of each individual purchase. |
During the course of the year the company also provided technical and other services in the normal course of business to P J Masson trading as Bucknull & Masson for £4,800 (2022: £4,800). The fees charged represent the normal market price in the case of each individual sale. |
At the balance sheet date the amount due to P J Masson was £2,711 (2022: £953). |
During the course of the year the company acquired consultancy services in the normal course of business from J van Steenis Bucknull trading as Bucknull LaBourne & Partners for £42,883 (2022: £47,396). The price paid was the normal market price in the case of each individual purchase. |
At the balance sheet date the amount due to J van Steenis Bucknull was £4,383 (2022: £nil). |