INCOMS SYSTEMS LIMITED

Company Registration Number:
01598275 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

INCOMS SYSTEMS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

INCOMS SYSTEMS LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 43,976 0
Investments: 4 4,134,055 2,399,597
Total fixed assets: 4,178,031 2,399,597
Current assets
Debtors:   4,007,856 5,684,606
Cash at bank and in hand: 121,709 236,788
Investments: 5 6,350,401 8,560,500
Total current assets: 10,479,966 14,481,894
Creditors: amounts falling due within one year: 6 (2,206,008) (2,229,785)
Net current assets (liabilities): 8,273,958 12,252,109
Total assets less current liabilities: 12,451,989 14,651,706
Creditors: amounts falling due after more than one year: 7 (843,641) (1,519,723)
Total net assets (liabilities): 11,608,348 13,131,983
Capital and reserves
Called up share capital: 151,900 151,900
Other reserves: 53,360 53,360
Profit and loss account: 11,403,088 12,926,723
Shareholders funds: 11,608,348 13,131,983

The notes form part of these financial statements

INCOMS SYSTEMS LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 August 2024
and signed on behalf of the board by:

Name: Paul Sonabend
Status: Director

The notes form part of these financial statements

INCOMS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

INCOMS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 4 5

INCOMS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 16,593
Additions 58,635
Disposals (16,593)
At 31 December 2023 58,635
Depreciation
At 01 January 2023 16,593
Charge for year 14,659
On disposals (16,593)
At 31 December 2023 14,659
Net book value
At 31 December 2023 43,976
At 31 December 2022 0

INCOMS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Fixed investments

Investments cannot be categorised as fixed or current assets as they are not held as current but will be sold if the right price can be achieved.

INCOMS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Current investments

Investment in associated company £4,034,058Investments in listed company £6,350,500Investment in unlisted company £99,997

INCOMS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

Corporation tax Liability £46,593 2022 £226,674

INCOMS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

7. Creditors: amounts falling due after more than one year note

Deferred tax liability £843,641 2022 £1,519,723

INCOMS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

8. Related party transactions

Name of the related party: Paul Sonabend
Relationship:
Director
Description of the Transaction: Loan to the Company
£
Balance at 01 January 2023 1,000,000
Balance at 31 December 2023 2,137,162
Name of the related party: Relendex Ltd
Relationship:
Associated Company
Description of the Transaction: Investments in fractionalised loans on the Relendex P2P platform
£
Balance at 01 January 2023 5,669,606
Balance at 31 December 2023 4,007,856

The Company held a 35% equity stake in Relendex Ltd