IRIS Accounts Production v24.1.0.578 09689443 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh096894432022-07-31096894432023-07-31096894432022-08-012023-07-31096894432021-07-31096894432021-08-012022-07-31096894432022-07-3109689443ns15:EnglandWales2022-08-012023-07-3109689443ns14:PoundSterling2022-08-012023-07-3109689443ns10:Director12022-08-012023-07-3109689443ns10:PrivateLimitedCompanyLtd2022-08-012023-07-3109689443ns10:SmallEntities2022-08-012023-07-3109689443ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-3109689443ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3109689443ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-3109689443ns10:FullAccounts2022-08-012023-07-310968944312022-08-012023-07-3109689443ns10:Director32022-08-012023-07-3109689443ns10:Director42022-08-012023-07-3109689443ns10:CompanySecretary12022-08-012023-07-3109689443ns10:RegisteredOffice2022-08-012023-07-3109689443ns5:CurrentFinancialInstruments2023-07-3109689443ns5:CurrentFinancialInstruments2022-07-3109689443ns5:Non-currentFinancialInstruments2023-07-3109689443ns5:Non-currentFinancialInstruments2022-07-3109689443ns5:ShareCapital2023-07-3109689443ns5:ShareCapital2022-07-3109689443ns5:SharePremium2023-07-3109689443ns5:SharePremium2022-07-3109689443ns5:RetainedEarningsAccumulatedLosses2023-07-3109689443ns5:RetainedEarningsAccumulatedLosses2022-07-3109689443ns5:NetGoodwill2022-08-012023-07-3109689443ns5:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3109689443ns5:NetGoodwill2022-07-3109689443ns5:NetGoodwill2023-07-3109689443ns5:NetGoodwill2022-07-3109689443ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3109689443ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-31
REGISTERED NUMBER: 09689443 (England and Wales)















Financial Statements for the Year Ended 31 July 2023

for

SARDINA SYSTEMS LTD

SARDINA SYSTEMS LTD (Registered number: 09689443)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SARDINA SYSTEMS LTD

Company Information
for the Year Ended 31 July 2023







DIRECTORS: J S Higgins
M Mueller
Dr C J K Tan





SECRETARY:





REGISTERED OFFICE: 7 Bell Yard
London
WC2A 2JR





REGISTERED NUMBER: 09689443 (England and Wales)





ACCOUNTANTS: CAAT Advisory Ltd
Studio 19a Oru Space Sutton,
7 Throwley Way
Sutton
SM1 4AF

SARDINA SYSTEMS LTD (Registered number: 09689443)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Investments 5 75,000 75,000
75,001 75,001

CURRENT ASSETS
Debtors 6 97,528 3,743
Cash at bank 1,324,719 715,782
1,422,247 719,525
CREDITORS
Amounts falling due within one year 7 581,428 384,586
NET CURRENT ASSETS 840,819 334,939
TOTAL ASSETS LESS CURRENT
LIABILITIES

915,820

409,940

CREDITORS
Amounts falling due after more than one
year

8

328,106

328,128
NET ASSETS 587,714 81,812

CAPITAL AND RESERVES
Called up share capital 2,532 2,163
Share premium 1,888,606 1,007,794
Retained earnings (1,303,424 ) (928,145 )
SHAREHOLDERS' FUNDS 587,714 81,812

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.

SARDINA SYSTEMS LTD (Registered number: 09689443)

Balance Sheet - continued
31 July 2023


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 29 July 2024 and were signed on its behalf by:





Dr C J K Tan - Director


SARDINA SYSTEMS LTD (Registered number: 09689443)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

SARDINA SYSTEMS LTD 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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Investments in subsidiaries
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an Item of Income and expense recognised as other comprehensive Income or to an item recognised directly In equity is also recognised In other comprehensive income or directly in equity respectively.
The current income tax charge Is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
-The recognition of deferred tax assets is limited to the extent that It is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except In respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

SARDINA SYSTEMS LTD (Registered number: 09689443)

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 pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any Impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any Impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than twenty four hours. Cash equivalents are highly liquid Investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 65,232
AMORTISATION
At 1 August 2022
and 31 July 2023 65,231
NET BOOK VALUE
At 31 July 2023 1
At 31 July 2022 1

5. FIXED ASSET INVESTMENTS

Sardina Systems S.a.r.l., a Luxembourg registered company, is a wholly owned subsidiary of the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Amounts owed by group undertakings 85,680 -
Other debtors 11,848 3,743
97,528 3,743

SARDINA SYSTEMS LTD (Registered number: 09689443)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 58,444 29,388
Other creditors 522,984 355,198
581,428 384,586

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Other creditors 328,106 328,128