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REGISTERED NUMBER: 08300691 (England and Wales)

















Sam Systems 2012 Limited

Financial Statements

for the Year Ended 30 November 2023






Sam Systems 2012 Limited (Registered number: 08300691)

Contents of the Financial Statements
for the year ended 30 November 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sam Systems 2012 Limited

Company Information
for the year ended 30 November 2023







DIRECTORS: D M Lewis
R J Smith





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 08300691 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Sam Systems 2012 Limited (Registered number: 08300691)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,411 11,215
Tangible assets 5 12,080 14,211
20,491 25,426

CURRENT ASSETS
Stocks 7,600 10,600
Debtors 6 896 896
Cash at bank 41 193
8,537 11,689
CREDITORS
Amounts falling due within one year 7 93,885 97,350
NET CURRENT LIABILITIES (85,348 ) (85,661 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(64,857

)

(60,235

)

CREDITORS
Amounts falling due after more than one
year

8

575

986
NET LIABILITIES (65,432 ) (61,221 )

CAPITAL AND RESERVES
Called up share capital 940 940
Share premium 93,880 93,880
Retained earnings (160,252 ) (156,041 )
SHAREHOLDERS' FUNDS (65,432 ) (61,221 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:



R J Smith - Director



D M Lewis - Director


Sam Systems 2012 Limited (Registered number: 08300691)

Notes to the Financial Statements
for the year ended 30 November 2023


1. STATUTORY INFORMATION

Sam Systems 2012 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Office equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Sam Systems 2012 Limited (Registered number: 08300691)

Notes to the Financial Statements - continued
for the year ended 30 November 2023


4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 December 2022
and 30 November 2023 28,038
AMORTISATION
At 1 December 2022 16,823
Amortisation for year 2,804
At 30 November 2023 19,627
NET BOOK VALUE
At 30 November 2023 8,411
At 30 November 2022 11,215

5. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 36,249 1,432 37,681
DEPRECIATION
At 1 December 2022 22,578 892 23,470
Charge for year 2,050 81 2,131
At 30 November 2023 24,628 973 25,601
NET BOOK VALUE
At 30 November 2023 11,621 459 12,080
At 30 November 2022 13,671 540 14,211

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 896 896

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 420 406
Trade creditors 8,015 12,233
Taxation and social security 95 300
Other creditors 85,355 84,411
93,885 97,350

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 575 986