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COMPANY REGISTRATION NUMBER: 15017781
Systems Information Management Limited
Filleted Unaudited Financial Statements
Period ending
31 July 2024
Systems Information Management Limited
Statement of Financial Position
31 July 2024
31 Jul 24
Note
£
£
Fixed assets
Tangible assets
5
1,738
Current assets
Debtors
6
4,752
Cash at bank and in hand
55,628
--------
60,380
Creditors: amounts falling due within one year
7
53,506
--------
Net current assets
6,874
-------
Total assets less current liabilities
8,612
-------
Net assets
8,612
-------
Capital and reserves
Called up share capital
8
100
Profit and loss account
8,512
-------
Shareholders funds
8,612
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Systems Information Management Limited
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 17 November 2024 , and are signed on behalf of the board by:
T R J Styles
Director
Company registration number: 15017781
Systems Information Management Limited
Notes to the Financial Statements
Period from 21 July 2023 to 31 July 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
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.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 .
5. Tangible assets
Equipment
£
Cost
At 21 July 2023 and 31 July 2024
1,798
-------
Depreciation
At 21 July 2023
Charge for the period
60
-------
At 31 July 2024
60
-------
Carrying amount
At 31 July 2024
1,738
-------
6. Debtors
31 Jul 24
£
Trade debtors
4,752
-------
7. Creditors: amounts falling due within one year
31 Jul 24
£
Trade creditors
999
Accruals and deferred income
47,420
Corporation tax
1,589
Social security and other taxes
3,498
--------
53,506
--------
8. Called up share capital
Issued, called up and fully paid
31 Jul 24
No.
£
Ordinary A shares of £ 1 each
50
50
Ordinary B shares of £ 1 each
50
50
----
----
100
100
----
----