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REGISTERED NUMBER: 04768719 (England and Wales)















ACCSYS PROJECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






ACCSYS PROJECTS LIMITED (REGISTERED NUMBER: 04768719)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ACCSYS PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: N Smith
J Deely
G Lang





REGISTERED OFFICE: Sovereign House
12 Warwick Street
Coventry
West Midlands
CV5 6ET





REGISTERED NUMBER: 04768719 (England and Wales)





ACCOUNTANTS: Burrows Scarborough
Sovereign House
12 Warwick Street
Coventry
West Midlands
CV5 6ET

ACCSYS PROJECTS LIMITED (REGISTERED NUMBER: 04768719)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 196,459 201,674

CURRENT ASSETS
Stocks 849,679 662,246
Debtors 5 987,418 1,221,850
Prepayments and accrued income 8,366 12,328
Cash at bank and in hand 380,300 4,276,357
2,225,763 6,172,781
CREDITORS
Amounts falling due within one year 6 745,111 839,296
NET CURRENT ASSETS 1,480,652 5,333,485
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,677,111

5,535,159

PROVISIONS FOR LIABILITIES (2,788 ) (4,326 )

ACCRUALS AND DEFERRED INCOME (23,810 ) (30,916 )
NET ASSETS 1,650,513 5,499,917

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,650,413 5,499,817
SHAREHOLDERS' FUNDS 1,650,513 5,499,917

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:





N Smith - Director


ACCSYS PROJECTS LIMITED (REGISTERED NUMBER: 04768719)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Accsys Projects 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest £1.

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
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings - not provided
Plant and machinery - 10% Straight Line
Fixtures and fittings - 25% Straight Line
Computer Equipment - 33% Straight line.

Stocks
Contracts ongoing at the year end are assessed on a contract by contract basis. Where it is considered that the outcome of a long-term contract can be assessed with reasonable certainty before its conclusion the attributable profit is recognised in the profit and loss account.

Costs associated with long-term contracts are included in stock to the extent that they cannot be matched with contract work accounted for as turnover. Long term contract balances included in stocks are stated at cost after provision for any foreseeable losses and the deduction of applicable payments on account.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

ACCSYS PROJECTS LIMITED (REGISTERED NUMBER: 04768719)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Leases
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 185,120 137,163 322,283
Additions - 4,272 4,272
At 31 July 2023 185,120 141,435 326,555
DEPRECIATION
At 1 August 2022 - 120,609 120,609
Charge for year - 9,487 9,487
At 31 July 2023 - 130,096 130,096
NET BOOK VALUE
At 31 July 2023 185,120 11,339 196,459
At 31 July 2022 185,120 16,554 201,674

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 791,565 770,768
Other debtors 195,853 451,082
987,418 1,221,850

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 324,020 521,201
Taxation and social security 420,753 317,283
Other creditors 338 812
745,111 839,296

ACCSYS PROJECTS LIMITED (REGISTERED NUMBER: 04768719)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 20,042

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Shares 1 100 100

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
N Smith
Balance outstanding at start of year 94,262 -
Amounts advanced 150,624 102,798
Amounts repaid (244,886 ) (8,536 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 94,262

J Deely
Balance outstanding at start of year 152,544 -
Amounts advanced 150,624 161,080
Amounts repaid (303,168 ) (8,536 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 152,544

Interest on the Directors loans has been charged at 2.0% and is included in other interest..

10. CHANGE IN OWNERSHIP

On 31 July 2023 following a change in ownership whereby the company became Employee Owned through an Employee Ownership Trust (EOT), as reflected in the Statement of Changes in Equity a distribution in the sum of £5,327,985 was made.