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REGISTERED NUMBER: 08322725 (England and Wales)















Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

Lisam Systems Ltd

Lisam Systems Ltd (Registered number: 08322725)






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




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 4


Lisam Systems Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T Levintoff
M Hemberg
S Bradshaw





REGISTERED OFFICE: 18 Scarborough Street
Hartlepool
TS24 7DA





REGISTERED NUMBER: 08322725 (England and Wales)





AUDITORS: King Hope
CHARTERED ACCOUNTANTS
& Statutory Auditor
18 Scarborough Street
Hartlepool
TS24 7DA

Lisam Systems Ltd (Registered number: 08322725)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of software sales and licencing.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

T Levintoff
M Hemberg
S Bradshaw

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S Bradshaw - Director


6 September 2024

Lisam Systems Ltd (Registered number: 08322725)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,593 12,946
Investment property 5 65,000 64,000
72,593 76,946

CURRENT ASSETS
Debtors 6 175,820 338,749
Cash at bank 260,311 319,381
436,131 658,130
CREDITORS
Amounts falling due within one year 7 365,894 735,982
NET CURRENT ASSETS/(LIABILITIES) 70,237 (77,852 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,830

(906

)

CREDITORS
Amounts falling due after more than one
year

8

91,515

191,515
NET ASSETS/(LIABILITIES) 51,315 (192,421 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 51,015 (192,721 )
51,315 (192,421 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





S Bradshaw - Director


Lisam Systems Ltd (Registered number: 08322725)

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

1. STATUTORY INFORMATION

Lisam 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.

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


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at fair value of the consideration received, excluding discounts and value added tax. Software licence income is allocated over the period covered by the licence on a time basis.

Software licence purchases
Software licence purchases are allocated over the period covered by the licence on a time basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Lisam Systems Ltd (Registered number: 08322725)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 13,936 10,450 24,386
Additions 6,438 - 6,438
Disposals (4,868 ) (10,450 ) (15,318 )
At 31 December 2023 15,506 - 15,506
DEPRECIATION
At 1 January 2023 8,827 2,613 11,440
Charge for year 2,531 - 2,531
Eliminated on disposal (3,445 ) (2,613 ) (6,058 )
At 31 December 2023 7,913 - 7,913
NET BOOK VALUE
At 31 December 2023 7,593 - 7,593
At 31 December 2022 5,109 7,837 12,946

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 64,000
Revaluations 1,000
At 31 December 2023 65,000
NET BOOK VALUE
At 31 December 2023 65,000
At 31 December 2022 64,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 65,000

Lisam Systems Ltd (Registered number: 08322725)

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

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 101,152 101,152
Aggregate depreciation (17,364 ) (15,844 )

Investment property was valued on an open market basis on 31 December 2023 by the directors .

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 82,657 156,447
Amounts owed by group undertakings 32,376 -
Other debtors 58,282 179,784
173,315 336,231

Amounts falling due after more than one year:
Deferred tax asset 2,505 2,518

Aggregate amounts 175,820 338,749

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Deferred income 115,731 333,064
Trade creditors 26,804 17,669
Amounts owed to group undertakings 115,327 167,002
Taxation and social security 87,199 92,887
Other creditors 20,833 125,360
365,894 735,982

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Amounts owed to group undertakings 91,515 -
Other creditors - 191,515
91,515 191,515

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Gardner (Senior Statutory Auditor)
for and on behalf of King Hope

Lisam Systems Ltd (Registered number: 08322725)

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

10. RELATED PARTY DISCLOSURES

The company is a 92.67% subsidiary of Lisam Systems SA, of Rue Jean Jaures 5, 7190 Ecaussinnes, Belgium.

Software Licence Purchases include £905,924 from the parent company. (2022: £697,972)
Debtors include £32,262 owed to the parent company. There are no fixed terms of repayment.(2022: Other creditors £167,002)

Lisam Systems SA is a 100% subsidiary of Lisam EHS Software, of Rue Jean Jaures 5, 7190 Ecaussinnes, Belgium.

Creditors include £206,842 owed to Lisam EHS Software. (2022: £291,515)

11. ULTIMATE CONTROLLING COMPANY

The controlling company is Lisam Systems SA., a company registered in Belgium.

The ultimate controlling company is Lisam EHS Software, a company registered in Belgium.