Company registration number 02579459 (England and Wales)
RESPONSE SYSTEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
RESPONSE SYSTEMS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
RESPONSE SYSTEMS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr C. Sikalas
Mr D. Barbagallo
Mr R. Johnson
Secretary
Mr C. Sikalas
Company number
02579459
Registered office
Lytchett House
13 Freeland Park
Wareham Road
Poole
Dorset
BH16 6FA
Accountants
TC Group
The Granary
Hones Yard
1 Waverley Lane
Farnham
Surrey
GU9 8BB
RESPONSE SYSTEMS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
2,068
5,237
Current assets
Debtors
5
1,997,265
1,977,023
Cash at bank and in hand
58,905
808,794
2,056,170
2,785,817
Creditors: amounts falling due within one year
6
(318,332)
(481,984)
Net current assets
1,737,838
2,303,833
Total assets less current liabilities
1,739,906
2,309,070
Capital and reserves
Called up share capital
9
240
240
Profit and loss reserves
1,739,666
2,308,830
Total equity
1,739,906
2,309,070
RESPONSE SYSTEMS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 12 November 2024 and are signed on its behalf by:
Mr C. Sikalas
Director
Company Registration No. 02579459
The notes on pages 4 to 10 form part of these financial statements
RESPONSE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Response Systems Limited (02579459) is a private company limited by shares incorporated in England and Wales. The registered office is Lytchett House, 13 Freeland Park, Wareham Road, Poole, Dorset, BH16 6FA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance. The revenue from the rendering of services is recognised by reference to the performance of the contract in the delivery of the services to the customer. In respect of annual maintenance and support contracts, the revenue is recognised evenly over the period of the contract. Turnover is measured at the fair value of the consideration received, excluding VAT.

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

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

RESPONSE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
-     15% Reducing balance
Equipment
-     25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

RESPONSE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 6 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

RESPONSE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 7 -
1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.12

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was: 5 (2023: 6)

3
Taxation
2024
2023
£
£
Current tax
Adjustments in respect of prior periods
(19,062)
(32,114)
Deferred tax
Origination and reversal of timing differences
2,875
74,363
Total tax (credit)/charge
(16,187)
42,249
RESPONSE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
4
Tangible fixed assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 July 2023
34,501
169,616
204,117
Disposals
(31,322)
(164,493)
(195,815)
At 30 June 2024
3,179
5,123
8,302
Depreciation and impairment
At 1 July 2023
33,513
165,367
198,880
Depreciation charged in the year
38
616
654
Eliminated in respect of disposals
(30,590)
(162,710)
(193,300)
At 30 June 2024
2,961
3,273
6,234
Carrying amount
At 30 June 2024
218
1,850
2,068
At 30 June 2023
988
4,249
5,237
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
101,555
90,355
Corporation tax recoverable
19,062
-
0
Amounts due from related party undertakings
1,821,829
1,830,544
Other debtors
723
429
Prepayments and accrued income
3,369
2,093
1,946,538
1,923,421
Deferred tax asset (note 7)
50,727
53,602
1,997,265
1,977,023
RESPONSE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
100
5,325
Other taxation and social security
2,510
2,487
Other creditors
576
-
0
Accruals and deferred income
315,146
474,172
318,332
481,984
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2024
2023
Balances:
£
£
Accelerated capital allowances
(276)
(852)
Tax losses
51,003
54,454
50,727
53,602
8
Related party transactions

During the year the company has entered into the following transactions with companies related by being under common control:

 

Sales to such related parties £58,413 (2023 - £45,052), purchases from such related parties £515,467 (2023 - 525,151), balances owed by such related parties at the year end £1,830,544 (2023 - £1,830,544).

RESPONSE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 10 -
9
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
54 Ordinary A shares of £1 each
54
54
54 Ordinary B shares of £1 each
54
54
54 Ordinary C shares of £1 each
54
54
54 Ordinary D shares of £1 each
54
54
24 Ordinary E shares of £1 each
24
24
240
240
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