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REGISTERED NUMBER: 05085612 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

IDENTITY SYSTEMS LIMITED

IDENTITY SYSTEMS LIMITED (REGISTERED NUMBER: 05085612)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


IDENTITY SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Patricia M Mowla
Aaron Mowla





REGISTERED OFFICE: 22 Dale Street
London
W4 2BL





REGISTERED NUMBER: 05085612 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Suite 1, Aireside House
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

IDENTITY SYSTEMS LIMITED (REGISTERED NUMBER: 05085612)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 279,094 282,943

CURRENT ASSETS
Stocks 108,071 112,109
Debtors 5 1,694,250 1,824,349
Cash at bank and in hand 2,875,610 2,916,993
4,677,931 4,853,451
CREDITORS
Amounts falling due within one year 6 (254,380 ) (437,335 )
NET CURRENT ASSETS 4,423,551 4,416,116
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,702,645

4,699,059

PROVISIONS FOR LIABILITIES (2,621 ) (2,625 )
NET ASSETS 4,700,024 4,696,434

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 4,700,023 4,696,433
SHAREHOLDERS' FUNDS 4,700,024 4,696,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

IDENTITY SYSTEMS LIMITED (REGISTERED NUMBER: 05085612)

BALANCE SHEET - continued
31 AUGUST 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 by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





Aaron Mowla - Director


IDENTITY SYSTEMS LIMITED (REGISTERED NUMBER: 05085612)

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

1. STATUTORY INFORMATION

Identity Systems Limited 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 (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


IDENTITY SYSTEMS LIMITED (REGISTERED NUMBER: 05085612)

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

2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 September 2023 311,228 52,853 364,081
Additions - 4,579 4,579
At 31 August 2024 311,228 57,432 368,660
DEPRECIATION
At 1 September 2023 42,101 39,037 81,138
Charge for year 3,828 4,600 8,428
At 31 August 2024 45,929 43,637 89,566
NET BOOK VALUE
At 31 August 2024 265,299 13,795 279,094
At 31 August 2023 269,127 13,816 282,943

IDENTITY SYSTEMS LIMITED (REGISTERED NUMBER: 05085612)

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

5. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 103,534 25,831
Other debtors 1,284,445 1,472,700
1,387,979 1,498,531

Amounts falling due after more than one year:
Other debtors 306,271 325,818

Aggregate amounts 1,694,250 1,824,349

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 10,449 -
Taxation and social security 143,965 126,676
Other creditors 99,966 310,659
254,380 437,335

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary £1 1 1

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2024 and 31 August 2023:

2024 2023
£ £
Patricia M Mowla and Aaron Mowla
Balance outstanding at start of year 1,166,600 1,166,657
Amounts repaid (28 ) (57 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,166,572 1,166,600