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Registered number: 01690826










S.J. BUSINESS MICRO SYSTEMS LIMITED

Unaudited
Financial statements
Information for filing with the registrar
For the year ended 29 February 2024

 
S.J. BUSINESS MICRO SYSTEMS LIMITED
 

Company Information


Directors
A Wycherley 
S J Lacey 




Company secretary
A Wycherley



Registered number
01690826



Registered office
Unit 3 Mews Works
Station Road

Rotherham

S60 1JH





 
S.J. BUSINESS MICRO SYSTEMS LIMITED
Registered number: 01690826

Balance sheet
As at 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
452
594

  
452
594

Current assets
  

Stocks
  
3,000
3,000

Debtors
  
136,709
130,384

  
139,709
133,384

Creditors: amounts falling due within one year
  
(139,563)
(116,399)

Net current assets
  
 
 
146
 
 
16,985

Total assets less current liabilities
  
598
17,579

Creditors: amounts falling due after more than one year
  
(31,844)
(37,588)

Net liabilities
  
(31,246)
(20,009)


Capital and reserves
  

Called up share capital 
 5 
2
2

Profit and loss account
  
(31,248)
(20,011)

  
(31,246)
(20,009)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 November 2024.




A Wycherley
S J Lacey
Director
Director
Page 1

 
S.J. BUSINESS MICRO SYSTEMS LIMITED
Registered number: 01690826

Balance sheet (continued)
As at 29 February 2024


The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
S.J. BUSINESS MICRO SYSTEMS LIMITED
 

 
Notes to the financial statements
For the year ended 29 February 2024

1.


General information

SJ Business Micosystems Limited is a private company limited by shares incorporated in England within the United Kingdom.  The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
S.J. BUSINESS MICRO SYSTEMS LIMITED
 

 
Notes to the financial statements
For the year ended 29 February 2024

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings and equipment
-
15%
Motor vehicles
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 -3).

Page 4

 
S.J. BUSINESS MICRO SYSTEMS LIMITED
 

 
Notes to the financial statements
For the year ended 29 February 2024

4.


Tangible fixed assets







Motor vehicles
Furniture, fittings and equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
10,495
754
11,249



At 29 February 2024

10,495
754
11,249



Depreciation


At 1 March 2023
9,965
689
10,654


Charge for the year on owned assets
133
10
143



At 29 February 2024

10,098
699
10,797



Net book value



At 29 February 2024
397
55
452



At 28 February 2023
530
65
595


5.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



2 (2023 -2) Ordinary shares of £1.00 each
2
2



6.


Transactions with directors

The directors operate current accounts with the company which are interest free and repayable on demand.
The balance owed to the company at the yearend included in other debtors is as follows:-
S J Lacey £32,090 
(2023 - £32,090), A Wycherley £39,113 (2023 - £38,383)


Page 5