Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 07911669 Mr Stephen Dickens iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07911669 2023-01-31 07911669 2024-01-31 07911669 2023-02-01 2024-01-31 07911669 frs-core:CurrentFinancialInstruments 2024-01-31 07911669 frs-core:Non-currentFinancialInstruments 2024-01-31 07911669 frs-core:BetweenOneFiveYears 2024-01-31 07911669 frs-core:ComputerEquipment 2024-01-31 07911669 frs-core:ComputerEquipment 2023-02-01 2024-01-31 07911669 frs-core:ComputerEquipment 2023-01-31 07911669 frs-core:FurnitureFittings 2024-01-31 07911669 frs-core:FurnitureFittings 2023-02-01 2024-01-31 07911669 frs-core:FurnitureFittings 2023-01-31 07911669 frs-core:MotorVehicles 2024-01-31 07911669 frs-core:MotorVehicles 2023-02-01 2024-01-31 07911669 frs-core:MotorVehicles 2023-01-31 07911669 frs-core:WithinOneYear 2024-01-31 07911669 frs-core:ShareCapital 2024-01-31 07911669 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 07911669 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07911669 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 07911669 frs-bus:SmallEntities 2023-02-01 2024-01-31 07911669 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07911669 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07911669 frs-bus:Director1 2023-02-01 2024-01-31 07911669 frs-countries:EnglandWales 2023-02-01 2024-01-31 07911669 2022-01-31 07911669 2023-01-31 07911669 2022-02-01 2023-01-31 07911669 frs-core:CurrentFinancialInstruments 2023-01-31 07911669 frs-core:Non-currentFinancialInstruments 2023-01-31 07911669 frs-core:BetweenOneFiveYears 2023-01-31 07911669 frs-core:WithinOneYear 2023-01-31 07911669 frs-core:ShareCapital 2023-01-31 07911669 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 07911669
System-Matic Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Solid Rock Accountancy Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07911669
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,175 30,087
18,175 30,087
CURRENT ASSETS
Stocks 5 1,500 1,500
Debtors 6 4,002 1,760
Cash at bank and in hand 40,219 34,053
45,721 37,313
Creditors: Amounts Falling Due Within One Year 7 (7,392 ) (5,860 )
NET CURRENT ASSETS (LIABILITIES) 38,329 31,453
TOTAL ASSETS LESS CURRENT LIABILITIES 56,504 61,540
Creditors: Amounts Falling Due After More Than One Year 8 (20,263 ) (24,755 )
NET ASSETS 36,241 36,785
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 36,240 36,784
SHAREHOLDERS' FUNDS 36,241 36,785
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Stephen Dickens
Director
19/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
System-Matic Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07911669 . The registered office is 217 Welland Park Road, Market Harborough, Leicestershire, LE16 9DW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25%
Fixtures & Fittings 33%
Computer Equipment 33%
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 February 2023 38,220 4,605 1,857 44,682
Additions - - 748 748
Revaluation (6,370 ) - - (6,370 )
As at 31 January 2024 31,850 4,605 2,605 39,060
Depreciation
As at 1 February 2023 9,555 4,158 882 14,595
Provided during the period 5,574 148 568 6,290
As at 31 January 2024 15,129 4,306 1,450 20,885
Net Book Value
As at 31 January 2024 16,721 299 1,155 18,175
As at 1 February 2023 28,665 447 975 30,087
5. Stocks
2024 2023
£ £
Stock 1,500 1,500
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,002 1,760
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,742 4,742
Other taxes and social security 32 -
VAT 1,239 -
Accruals and deferred income 1,000 1,080
Director's loan account 379 38
7,392 5,860
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 20,263 24,755
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,742 4,742
Later than one year and not later than five years 20,263 24,755
25,005 29,497
25,005 29,497
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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