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REGISTERED NUMBER: 00985613 (England and Wales)




















Financial Statements

for the Year Ended 31 January 2024

for

SYSTEM SIMULATION LIMITED

SYSTEM SIMULATION LIMITED (REGISTERED NUMBER: 00985613)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SYSTEM SIMULATION LIMITED

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M Stapleton
M Selway
M S McKenzie
R M Beales





SECRETARY: J Bolger FCCA





REGISTERED OFFICE: 406 Clerkenwell Workshops
27-31 Clerkenwell Close
London
London
EC1R 0AT





REGISTERED NUMBER: 00985613 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
143 Station Road
Hampton
Middlesex
TW12 2AL

SYSTEM SIMULATION LIMITED (REGISTERED NUMBER: 00985613)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £   
CURRENT ASSETS
Debtors 5 79,971 203,094
Cash at bank 574,671 564,406
654,642 767,500
CREDITORS
Amounts falling due within one year 6 (381,305 ) (495,912 )
NET CURRENT ASSETS 273,337 271,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,337

271,588

CAPITAL AND RESERVES
Called up share capital 7 8,398 8,398
Share premium 8 230,147 230,147
Capital redemption reserve 8 442 442
Retained earnings 8 34,350 32,601
SHAREHOLDERS' FUNDS 273,337 271,588

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.

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 29 October 2024 and were signed on its behalf by:





M Stapleton - Director


SYSTEM SIMULATION LIMITED (REGISTERED NUMBER: 00985613)

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

1. STATUTORY INFORMATION

System Simulation 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
The turnover shown in the profit and loss account represents the total amount earned by the company for goods supplied and services provided, excluding VAT.

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 - 100% in the year of acquisition
Computer equipment - 100% in the year of acquisition

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.

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 12 (2023 - 12 ) .

SYSTEM SIMULATION LIMITED (REGISTERED NUMBER: 00985613)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 11,554 27,773 39,327
Additions 663 640 1,303
At 31 January 2024 12,217 28,413 40,630
DEPRECIATION
At 1 February 2023 11,554 27,773 39,327
Charge for year 663 640 1,303
At 31 January 2024 12,217 28,413 40,630
NET BOOK VALUE
At 31 January 2024 - - -
At 31 January 2023 - - -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 61,288 181,094
Other debtors 18,683 22,000
79,971 203,094

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 2,847 4,312
Taxation and social security 44,214 80,866
Other creditors 334,244 410,734
381,305 495,912

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
8,398 Ordinary £1 8,398 8,398

SYSTEM SIMULATION LIMITED (REGISTERED NUMBER: 00985613)

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

8. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 February 2023 32,601 230,147 442 263,190
Profit for the year 1,749 1,749
At 31 January 2024 34,350 230,147 442 264,939