EUDOXUS SYSTEMS LIMITED

Company Registration Number:
02883599 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 01 May 2023

End date: 30 April 2024

EUDOXUS SYSTEMS LIMITED

Contents of the Financial Statements

for the Period Ended 30 April 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

EUDOXUS SYSTEMS LIMITED

Company Information

for the Period Ended 30 April 2024




Director: Robert Simons
Rosemary Simons
Elizabeth Roberts
Registered office: Perth House Soulbury Road
Leighton Buzzard
Beds
LU7 2RN
Company Registration Number: 02883599 (England and Wales)

EUDOXUS SYSTEMS LIMITED

Directors' Report Period Ended 30 April 2024

The directors present their report with the financial statements of the company for the period ended 30 April 2024

Principal Activities

Management consultancy, computer consultancy and the provision of computer software services.

Political and charitable donations

None.

Company policy on the employment of disabled persons

The Company complies with its legal obligations on the employment of disabled persons.

Additional information

Review of the Business Turnover increased with inflation to £37,500 (2022/23: £34,000). The Company’s trading operations made a profit for the year of £159 (2022/23: loss of £1,503). Taking account of interest received, the profit was £748 (2022/23: loss of £1,207). The Company continued to pay its debts promptly. Payment by creditors is between 30 and 60 days. Results and Dividends The Company has reported a profit for the year of £748. This increases Total Shareholders’ Funds on the Balance Sheet to £17,397, which the directors consider leaves the Company very well capitalised for its activities. The Accounts have been prepared using HMRC's online filing system. Versions of the Balance Sheet and the Profit and Loss Account prepared in accordance with previous years' format are appended after the Notes to the Financial Statements. They do not form part of the Financial Statements. Fixed Assets The Company paid for the construction of an office on land belonging to the executive directors which it occupied rent-free for a period of 15 years. This period ended on 31st December 2013. Details are shown on the balance sheet and the accompanying notes. Share and Loan Capital At 1st May 2023 the Company's authorised share capital was £10,000, comprising 100,000 10p irredeemable ordinary shares. There was no change during the year. The Company has no outstanding loan capital. Directors' Interests At 1st May 2023 Rosemary Simons owned 34,999 10p ordinary shares, being 50.0% of the issued share capital. Robert Simons owned 12,499 ordinary shares, being 17.9% of the issued share capital. Their children Andrew Simons, Elizabeth Roberts and Victoria Simons each owned 7,500 ordinary shares, being 10.7% of the issued share capital. There were no changes during the year to the shareholdings. Employees The Company seeks to comply fully with the requirements for the health, safety and welfare at work of its employees. Particular regard is paid to the use of visual display units and keyboards. Pensions The introduction of two-factor authentication of on-line transactions has stopped the Company from making direct contributions to the personal pension scheme for the sole director who is below the Company’s retirement age. Her pay has been increased so that she can make the contribution herself. No contingent liabilities exist in respect of past service or possible future salary increases. Auditors The Company takes advantage of the exemption from audit conferred by section 477 of the Companies Act 2006. Statement of Directors' Duties and Responsibilities Sections 171 - 177 of the Companies Act 2006 impose duties on directors: - to act within their powers - to promote the success of the company; - to exercise independent judgement; - to exercise reasonable care, skill and diligence; - to avoid conflicts of interest; - not to accept benefits from third parties; - to declare their interest in proposed transactions or arrangements. The directors acknowledge these duties. Company law requires the directors to prepare financial statements for each year which 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 those financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Company will continue in business. The directors acknowledge their responsibility for: - keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and which comply with section 386 of the Companies Act 2006; - preparing accounts in accordance with the above precepts; - safeguarding the assets of the Company and hence for taking reasonable steps for the prevention of fraud and other irregularities. The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006.

Directors

The directors shown below have held office during the whole of the period from 01 May 2023 to 30 April 2024
Robert Simons
Rosemary Simons
Elizabeth Roberts

This report was approved by the board of directors on 27 September 2024
And Signed On Behalf Of The Board By:

Name: Robert Simons
Status: Director

Name: Rosemary Simons
Status: Director

EUDOXUS SYSTEMS LIMITED

Profit and Loss Account

for the Period Ended 30 April 2024


Notes

2024
£

2023
£
Turnover 37,500 34,000
Cost of sales ( 24,000 ) ( 22,800 )
Gross Profit or (Loss) 13,500 11,200
Administrative Expenses ( 13,341 ) ( 12,703 )
Operating Profit or (Loss) 159 ( 1,503 )
Interest Receivable and Similar Income 589 296
Profit or (Loss) Before Tax 748 ( 1,207 )
Tax on Profit ( 0 ) ( 0 )
Profit or (Loss) for Period 748 ( 1,207 )

The notes form part of these financial statements

EUDOXUS SYSTEMS LIMITED

Balance sheet

As at 30 April 2024


Notes

2024
£

2023
£
Fixed assets
Intangible assets: 4 0 0
Tangible assets: 5 0 0
Total fixed assets: 0 0
Current assets
Debtors: 6 9,375 8,500
Cash at bank and in hand: 30,074 43,055
Total current assets: 39,449 51,555
Creditors: amounts falling due within one year: 7 ( 22,052 ) ( 34,906 )
Net current assets (liabilities): 17,397 16,649
Total assets less current liabilities: 17,397 16,649
Total net assets (liabilities): 17,397 16,649

The notes form part of these financial statements

EUDOXUS SYSTEMS LIMITED

Balance sheet continued

As at 30 April 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 7,000 7,000
Revaluation reserve: 8 15,001 15,001
Profit and loss account: ( 4,604 ) ( 5,352 )
Shareholders funds: 17,397 16,649

For the year ending 30 April 2024 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.

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

This report was approved by the board of directors on 27 September 2024
And Signed On Behalf Of The Board By:

Name: Robert Simons
Status: Director

Name: Rosemary Simons
Status: Director

The notes form part of these financial statements

EUDOXUS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

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

    Turnover policy

    Turnover represents the amounts receivable by the Company in respect of goods and services excluding Value Added Tax. On time-and-materials contracts revenue is recognised in line with effort expended. On fixed-price contracts revenue is recognised according to the payments due at milestones or the proportion of total contract effort expended, whichever is the lesser.
    Where turnover has not yet been invoiced to clients it is recorded in the Notes as Amounts Recoverable on Contracts. Such amounts are separately reported within Debtors. The valuation of amounts recoverable is based on assessment of progress towards completion of milestones and the turnover to be recognised at the milestone.

    Tangible fixed assets depreciation policy

    Depreciation of fixed assets is calculated on a straight-line basis over the expected useful lives of the assets, which are as follows:
    - Mobile computer hardware and other electronic equipment: 2 years
    - Desktop computer hardware and other electronic equipment: 4 years
    - Office fittings, decoration, equipment and furniture: 7 years
    - Rent-free occupation of office: 15 years

    Intangible fixed assets amortisation policy

    Routine items of computer software, upgrades and software maintenance are charged directly to the profit and loss account. Mathematical Programming software licences are capitalised as intangible assets and amortised on a straight-line basis over 5 years.

    Valuation information and policy

    The only stocks the Company has are stationery, which are valued at zero. Work in progress is valued according to the revenue which can be recovered under contracts then in force; see Turnover policy for details.

    Other accounting policies

    Research and Development Expenditure Research and development expenditure is written off to the profit and loss account as it occurs.

EUDOXUS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 3 3

    2024£ 2023£
    Wages and salaries: 36,001 34,200
    Social security costs: 0 0
    Pension costs: 0 0
    Total staff costs: 36,001 34,200
    The highest-paid employee received total remuneration of £16,800.

EUDOXUS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 3. Off balance sheet disclosure

    No

EUDOXUS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Intangible assets

Other Total
Cost £ £
At 01 May 2023 9,830 9,830
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 30 April 2024 9,830 9,830
Amortisation
Amortisation at 01 May 2023 9,830 9,830
Charge for year - -
On disposals - -
Other adjustments - -
Amortisation at 30 April 2024 9,830 9,830
Net book value
Net book value at 30 April 2024 0 0
Net book value at 30 April 2023 0 0

Intangible assets are Mathematical Programming software licences.

EUDOXUS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Tangible assets

Land & buildings Office equipment Total
Cost £ £ £
At 01 May 2023 50,361 34,010 84,371
Additions - - -
Disposals - - -
Revaluations - - -
Transfers - - -
At 30 April 2024 50,361 34,010 84,371
Depreciation
At 01 May 2023 50,361 34,010 84,371
Charge for year - - -
On disposals - - -
Other adjustments - - -
At 30 April 2024 50,361 34,010 84,371
Net book value
At 30 April 2024 0 0 0
At 30 April 2023 0 0 0

EUDOXUS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Debtors


2024
£

2023
£
Trade debtors 9,375 8,500
Other debtors 0 0
Total 9,375 8,500

EUDOXUS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

7.Creditors: amounts falling due within one year note


2024
£

2023
£
Taxation and social security 0 5,966
Other creditors 22,052 28,940
Total 22,052 34,906

Other creditors is the Directors’ loan account (see Note 9).

EUDOXUS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

8. Revaluation reserve


2024
£
Balance at 01 May 2023 15,001
Surplus or deficit after revaluation 0
Balance at 30 April 2024 15,001

This is actually the sum of the Capital Redemption Reserve (£14,656) and the Share Premium Account (£345).

EUDOXUS SYSTEMS LIMITED

Notes to the Financial Statements

for the Period Ended 30 April 2024

9.1.Related party disclosures

Name of related party: Robert and Rosemary Simons
Description of relationship:
Directors and shareholders; ultimate controlling party
Description of the transaction:
Loan by the directors to the Company
Balance at 01 May 2023 28,940
Balance at 30 April 2024 22,052



MATERIAL OUTWITH THE FINANCIAL STATEMENTS
Not the Profit and Loss Account
Notes 2024 2023
Turnover 37,500 34,000
Cost of Sales
Staff costs 2 (24,000) (22,800)
Other direct costs (0) (0)
(24,000) (22,800)

Gross Profit 13,500 11,200
Net Operating Expenses
Staff costs 2 (12,001) (11,400)
General administration (1,340) (1,303)
Depreciation (0) (0)
Accountancy (0) (0)
(13,341) (12,703)

Operating Profit (Loss) 159 (1,503)

Treasury Operations
Interest paid 0 0
Interest received 589 296
Exchange rate gain (loss) 0 0
589 296

Profit (Loss) for the Period 748 (1,207)

Distributable profit brought forward (5,352) (4,145)
Appropriation for premium on redeemable shares
UK and foreign corporation taxes 0 0
Dividend

Distributable Profit Carried Forward (4,604) (5,352)
Not the Balance Sheet
Notes 30 April 2024 30 April 2023
Fixed Assets
Intangible assets 3 0 0
Tangible assets 4 0 0
0 0
Current Assets
Trade debtors 5 9,375 8,500
UK and foreign corporation taxes 0 0
Cash at bank and in hand 30,074 43,055
Cash security for performance bond 0 0
39,449 51,555
Creditors within one year
Trade creditors (0) (0)
Directors loan account 6 (22,052) (28,940)
UK and foreign corporation taxes (0) (0)
Social security and other taxes 6 (0) (5,966)
Accrued expenses (0) (0)
Dividends (0) (0)
(22,052) (34,906)
Net Current Assets 17,397 16,649

Total Assets less Current Liabilities 17,397 16,649

Creditors due after one year 0 0

Total Assets less Liabilities 17,397 16,649

Capital and Reserves
Called-up Equity Share Capital 7,000 7,000
Capital Redemption Reserve 7 14,656 14,656
Share Premium 7 345 345
Profit and Loss Account (4,604) (5,352)
Total Shareholders Funds 17,397 16,649