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REGISTERED NUMBER: 01477938 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

South East Business Systems Limited

South East Business Systems Limited (Registered number: 01477938)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


South East Business Systems Limited (Registered number: 01477938)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 4,350 3,410

Current assets
Stocks - 310
Debtors 5 256,674 275,229
Cash at bank and in hand 34,763 88,621
291,437 364,160
Creditors: amounts falling due within
one year

6

111,093

125,247
Net current assets 180,344 238,913
Total assets less current liabilities 184,694 242,323

Creditors: amounts falling due after
more than one year

7

26,582

31,229
Net assets 158,112 211,094

Capital and reserves
Called up share capital 9 2,000 2,000
Retained earnings 156,112 209,094
Shareholders' funds 158,112 211,094

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

South East Business Systems Limited (Registered number: 01477938)

Balance Sheet - continued
31 January 2024


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 21 October 2024 and were signed on its behalf by:





A B Boutrup - Director


South East Business Systems Limited (Registered number: 01477938)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. Statutory information

South East Business Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01477938

Registered office: 85 Church Road
Hove
East Sussex
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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 and represents amounts receivable for goods supplied and services rendered, stated net of Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property - straight line over 10 years
Fixtures and fittings - 15% reducing balance
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

South East Business Systems Limited (Registered number: 01477938)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. Accounting policies - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.

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.

Government grants
Government grants are reflected in the year to which they relate.

3. Employees and directors

The average number of employees during the year was 8 (2023 - 9 ) .

South East Business Systems Limited (Registered number: 01477938)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. Tangible fixed assets
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 February 2023 3,028 27,275 22,986 3,995 57,284
Additions - 1,629 507 - 2,136
At 31 January 2024 3,028 28,904 23,493 3,995 59,420
Depreciation
At 1 February 2023 3,028 25,658 22,843 2,345 53,874
Charge for year - 693 91 412 1,196
At 31 January 2024 3,028 26,351 22,934 2,757 55,070
Net book value
At 31 January 2024 - 2,553 559 1,238 4,350
At 31 January 2023 - 1,617 143 1,650 3,410

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 31,207 106,850
Bad debt provision - (2,860 )
Amounts owed by group undertakings 204,180 163,312
Other debtors 400 400
Prepayments 20,887 7,527
256,674 275,229

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 8,477 9,128
Trade creditors 36,357 34,966
Taxation and social security 29,651 47,760
Other creditors 36,608 33,393
111,093 125,247

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 26,582 31,229

South East Business Systems Limited (Registered number: 01477938)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 3,720

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £1 2,000 2,000