Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 8825419 Mr Michael Mackay Mr Jonathan Jones iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 8825419 2023-12-31 8825419 2024-12-31 8825419 2024-01-01 2024-12-31 8825419 frs-core:CurrentFinancialInstruments 2024-12-31 8825419 frs-core:ComputerEquipment 2024-12-31 8825419 frs-core:ComputerEquipment 2024-01-01 2024-12-31 8825419 frs-core:ComputerEquipment 2023-12-31 8825419 frs-core:FurnitureFittings 2024-12-31 8825419 frs-core:FurnitureFittings 2024-01-01 2024-12-31 8825419 frs-core:FurnitureFittings 2023-12-31 8825419 frs-core:MotorVehicles 2024-12-31 8825419 frs-core:MotorVehicles 2024-01-01 2024-12-31 8825419 frs-core:MotorVehicles 2023-12-31 8825419 frs-core:PlantMachinery 2024-12-31 8825419 frs-core:PlantMachinery 2024-01-01 2024-12-31 8825419 frs-core:PlantMachinery 2023-12-31 8825419 frs-core:ShareCapital 2024-12-31 8825419 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 8825419 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 8825419 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 8825419 frs-bus:SmallEntities 2024-01-01 2024-12-31 8825419 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 8825419 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 8825419 frs-core:UnlistedNon-exchangeTraded 2024-12-31 8825419 frs-core:UnlistedNon-exchangeTraded 2023-12-31 8825419 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 8825419 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-12-31 8825419 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 8825419 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 8825419 frs-bus:Director1 2024-01-01 2024-12-31 8825419 frs-bus:Director2 2024-01-01 2024-12-31 8825419 frs-core:CurrentFinancialInstruments 1 2024-12-31 8825419 frs-core:CurrentFinancialInstruments 2 2024-12-31 8825419 frs-core:CurrentFinancialInstruments 3 2024-12-31 8825419 frs-core:CurrentFinancialInstruments 4 2024-12-31 8825419 frs-countries:EnglandWales 2024-01-01 2024-12-31 8825419 2022-12-31 8825419 2023-12-31 8825419 2023-01-01 2023-12-31 8825419 frs-core:CurrentFinancialInstruments 2023-12-31 8825419 frs-core:ShareCapital 2023-12-31 8825419 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 8825419 frs-core:CurrentFinancialInstruments 1 2023-12-31 8825419 frs-core:CurrentFinancialInstruments 2 2023-12-31 8825419 frs-core:CurrentFinancialInstruments 3 2023-12-31 8825419 frs-core:CurrentFinancialInstruments 4 2023-12-31
Registered number: 8825419
System Supply Industries Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Anthony Chandler & Quantrell Associates
Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 8825419
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 100,935 32,421
Investments 5 100 100
101,035 32,521
CURRENT ASSETS
Stocks 6 322,901 313,843
Debtors 7 2,859,708 2,337,057
Cash at bank and in hand 1,571,456 1,904,533
4,754,065 4,555,433
Creditors: Amounts Falling Due Within One Year 8 (267,782 ) (317,978 )
NET CURRENT ASSETS (LIABILITIES) 4,486,283 4,237,455
TOTAL ASSETS LESS CURRENT LIABILITIES 4,587,318 4,269,976
NET ASSETS 4,587,318 4,269,976
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 4,587,218 4,269,876
SHAREHOLDERS' FUNDS 4,587,318 4,269,976
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Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
On behalf of the board
Mr Michael Mackay
Director
12th March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
System Supply Industries Limited is a private company, limited by shares, incorporated in England & Wales, registered number 8825419 . The registered office is Unit3, W&G Estate, Faringdon Road, East Challow, Oxfordshire, OX12 9TF.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 bases:
Plant & Machinery 10%
Motor Vehicles 20%
Fixtures & Fittings Write off over 5 years of lease
Fixtures and Fittings New Unit 10%
2.4. Leasing and Hire Purchase Contracts
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.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 30 (2023: 30)
30 30
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Fixtures and Fittings New Unit Total
£ £ £ £ £
Cost
As at 1 January 2024 13,804 38,400 8,320 - 60,524
Additions - - 3,508 76,855 80,363
As at 31 December 2024 13,804 38,400 11,828 76,855 140,887
Depreciation
As at 1 January 2024 2,810 19,902 5,391 - 28,103
Provided during the period 1,100 3,700 644 6,405 11,849
As at 31 December 2024 3,910 23,602 6,035 6,405 39,952
Net Book Value
As at 31 December 2024 9,894 14,798 5,793 70,450 100,935
As at 1 January 2024 10,994 18,498 2,929 - 32,421
5. Investments
Unlisted
£
Cost
As at 1 January 2024 100
As at 31 December 2024 100
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 100
As at 1 January 2024 100
The following were subsidiary undertakings of the Company:

Name : SSI Property Holding Limited
Country of incorporation : England
Class of share : Ordinary (100%)
Principal activity : Property Rental
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6. Stocks
2024 2023
£ £
Stock 322,901 313,843
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 784,949 726,011
Prepayments and accrued income 458,246 111,704
Customer Deposits 3,046 5,425
SSI Property Holdings Limited 1,572,672 1,444,028
Sundry debtors 40,795 49,889
2,859,708 2,337,057
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 7,023 2,028
Corporation tax 148,423 124,405
VAT 87,769 163,960
Credit Card 5,253 7,158
Pension contribution 4,795 8,737
Sundry creditors 102 1,367
Accruals and deferred income 14,417 10,323
267,782 317,978
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 839,880 889,878
11. Related Party Transactions
Included in debtors is £1,572,672 owed by SSI Property Holding Limited in which System Supply Industries Limited owns 100% shares. Diirectors Mr. Michael Mackay and Mr. Jonathan Jones are also directors of SSI Property Holding Limited.
During the year,SSI Property Holding Limited rented a property to a connected person of director M. Mackay, for which the open market rent of £.6,000 was paid.
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