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REGISTERED NUMBER: 09380430 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

SYS INVESTMENTS LTD

SYS INVESTMENTS LTD (REGISTERED NUMBER: 09380430)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SYS INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: J M Fekete





SECRETARY: Mrs R Fekete





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 09380430 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

SYS INVESTMENTS LTD (REGISTERED NUMBER: 09380430)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 11,008 12,951
Investment property 6 3,487,000 3,487,000
3,498,008 3,499,951

CURRENT ASSETS
Debtors 7 1,032,940 999,140
Cash at bank 634 55,090
1,033,574 1,054,230
CREDITORS
Amounts falling due within one year 8 (1,912,449 ) (1,818,698 )
NET CURRENT LIABILITIES (878,875 ) (764,468 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,619,133

2,735,483

CREDITORS
Amounts falling due after more than one
year

9

(1,360,485

)

(1,405,079

)
NET ASSETS 1,258,648 1,330,404

CAPITAL AND RESERVES
Called up share capital 12 1 1
Revaluation reserve 13 1,032,948 1,032,948
Retained earnings 13 225,699 297,455
SHAREHOLDERS' FUNDS 1,258,648 1,330,404

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 director acknowledges his 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.

SYS INVESTMENTS LTD (REGISTERED NUMBER: 09380430)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


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 and authorised for issue by the director and authorised for issue on 8 October 2024 and were signed by:





J M Fekete - Director


SYS INVESTMENTS LTD (REGISTERED NUMBER: 09380430)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

SYS Investments Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the assets and liabilities which are required by FRS 102 to be stated at fair value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

SYS INVESTMENTS LTD (REGISTERED NUMBER: 09380430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2023
and 31 January 2024 40,393
DEPRECIATION
At 1 February 2023 27,442
Charge for year 1,943
At 31 January 2024 29,385
NET BOOK VALUE
At 31 January 2024 11,008
At 31 January 2023 12,951

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 3,487,000
NET BOOK VALUE
At 31 January 2024 3,487,000
At 31 January 2023 3,487,000

The fair value of investment property was assessed to be unchanged by the director. The fair value was determined using open market valuation method. The director does not have a formal qualification but considerable experience in property market to ascertain the fair value with sufficient level of confidence.

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2019 1,032,948
Cost 2,454,052
3,487,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 1,032,940 999,140

SYS INVESTMENTS LTD (REGISTERED NUMBER: 09380430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 2,608 -
Taxation and social security 27,454 31,511
Other creditors 1,882,387 1,787,187
1,912,449 1,818,698

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 10) 1,324,837 1,363,875
Other creditors 35,648 41,204
1,360,485 1,405,079

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,324,837 1,363,875

Other creditors include outstanding balance payable of £35,648 [2023 - 41,204] received under Bounceback Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% and guaranteed by HM Government.

10. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due between two and five years:
Other loans - 2-5 years 35,648 41,204

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,324,837 1,363,875

11. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 1,324,837 1,363,875

The bank loans is secured by a first charge over the company's properties and a floating charge over the assets of the company, and bear interest at variable rates.

SYS INVESTMENTS LTD (REGISTERED NUMBER: 09380430)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

12. CALLED UP SHARE CAPITAL

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

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 February 2023 297,455 1,032,948 1,330,403
Profit for the year 8,244 8,244
Dividends (80,000 ) (80,000 )
At 31 January 2024 225,699 1,032,948 1,258,647

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £40,000 were paid to the director .

15. ULTIMATE CONTROLLING PARTY

The controlling party is J M Fekete.