Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 06786680 Mr Afzal Fazil Mir Mr Afzal Fazil Mir true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06786680 2023-02-28 06786680 2024-02-29 06786680 2023-03-01 2024-02-29 06786680 frs-core:Non-currentFinancialInstruments 2024-02-29 06786680 frs-core:BetweenOneFiveYears 2024-02-29 06786680 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-01 2024-02-29 06786680 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 06786680 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 06786680 frs-core:MotorVehicles 2023-03-01 2024-02-29 06786680 frs-core:PlantMachinery 2023-03-01 2024-02-29 06786680 frs-core:WithinOneYear 2024-02-29 06786680 frs-core:ShareCapital 2024-02-29 06786680 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 06786680 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06786680 frs-bus:AbridgedAccounts 2023-03-01 2024-02-29 06786680 frs-bus:SmallEntities 2023-03-01 2024-02-29 06786680 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 06786680 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 06786680 1 2023-03-01 2024-02-29 06786680 frs-bus:Director1 2023-03-01 2024-02-29 06786680 frs-bus:Director1 2023-02-28 06786680 frs-bus:Director1 2024-02-29 06786680 frs-countries:EnglandWales 2023-03-01 2024-02-29 06786680 2022-02-28 06786680 2023-02-28 06786680 2022-03-01 2023-02-28 06786680 frs-core:Non-currentFinancialInstruments 2023-02-28 06786680 frs-core:BetweenOneFiveYears 2023-02-28 06786680 frs-core:MotorVehicles 2022-03-01 2023-02-28 06786680 frs-core:WithinOneYear 2023-02-28 06786680 frs-core:ShareCapital 2023-02-28 06786680 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 06786680
Systematic Security Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—6
Page 1
Abridged Balance Sheet
Registered number: 06786680
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 920,000 -
Tangible Assets 5 221,680 117,300
1,141,680 117,300
CURRENT ASSETS
Debtors 2,143,165 3,082,621
Cash at bank and in hand 286,800 248,542
2,429,965 3,331,163
Creditors: Amounts Falling Due Within One Year (2,166,797 ) (2,190,315 )
NET CURRENT ASSETS (LIABILITIES) 263,168 1,140,848
TOTAL ASSETS LESS CURRENT LIABILITIES 1,404,848 1,258,148
Creditors: Amounts Falling Due After More Than One Year (235,937 ) (129,466 )
NET ASSETS 1,168,911 1,128,682
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 1,168,811 1,128,582
SHAREHOLDERS' FUNDS 1,168,911 1,128,682
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 29 February 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Afzal Fazil Mir
Director
28 November 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Systematic Security Ltd Registered number 06786680 is a limited by shares company incorporated in England & Wales. The Registered Office is 1st Floor Premier House, 309 Ballards Lane, London, N12 8LY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover comprises the value of goods and services supplied by the company, net of Value Added Tax and trade discounts relating to the period.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are software development costs and are not amortised to profit and loss account as in the opinion of the directors, ths cost is fully recoverable.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Freehold 20% reducing balance basis
Leasehold Straight line basis over 4 years
Plant & Machinery 20% reducing balance basis
Motor Vehicles 20% reducing balance basis
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.7. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.8. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 20 20
Sales, marketing and distribution 160 240
180 260
4. Intangible Assets
Total
£
Cost
As at 1 March 2023 -
Additions 920,000
As at 29 February 2024 920,000
Net Book Value
As at 29 February 2024 920,000
As at 1 March 2023 -
5. Tangible Assets
Total
£
Cost or Valuation
As at 1 March 2023 297,925
Additions 218,659
Disposals (114,198 )
As at 29 February 2024 402,386
Depreciation
As at 1 March 2023 180,625
...CONTINUED
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Provided during the period 56,325
Disposals (56,244 )
As at 29 February 2024 180,706
Net Book Value
As at 29 February 2024 221,680
As at 1 March 2023 117,300
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 206,504 97,855
6. Secured Creditors
Of the creditors the following amounts are secured.
7. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 213,437 96,966
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
At the end of the period the company had minimum lease payments under non-cancellable leases as follows:
2024 2023
£ £
Not later than one year 77,175 77,175
Later than one year and not later than five years 136,262 136,262
213,437 213,437
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Afzal Fazil Mir - 80,000 - - -
The above loan is unsecured,  carries interest at 4% and was repaid after the year end.
11. Ultimate Controlling Party
The company's ultimate controlling party is the director Mr Afzal Fazil Mir with ownership of more than 75% of the issued share capital in the company.
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