Topia Systems Limited 05926050 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Software consulting Digita Accounts Production Advanced 6.30.9574.0 Software true 05926050 2023-07-01 2024-06-30 05926050 2024-06-30 05926050 bus:Director1 1 2024-06-30 05926050 bus:OrdinaryShareClass1 2024-06-30 05926050 core:RetainedEarningsAccumulatedLosses 2024-06-30 05926050 core:ShareCapital 2024-06-30 05926050 core:CurrentFinancialInstruments 2024-06-30 05926050 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 05926050 core:FurnitureFittings 2024-06-30 05926050 core:PlantMachinery 2024-06-30 05926050 bus:SmallEntities 2023-07-01 2024-06-30 05926050 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 05926050 bus:FullAccounts 2023-07-01 2024-06-30 05926050 bus:RegisteredOffice 2023-07-01 2024-06-30 05926050 bus:Director1 2023-07-01 2024-06-30 05926050 bus:Director1 1 2023-07-01 2024-06-30 05926050 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 05926050 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05926050 core:FurnitureFittings 2023-07-01 2024-06-30 05926050 core:PlantMachinery 2023-07-01 2024-06-30 05926050 countries:Wales 2023-07-01 2024-06-30 05926050 2023-06-30 05926050 bus:Director1 1 2023-06-30 05926050 core:FurnitureFittings 2023-06-30 05926050 core:PlantMachinery 2023-06-30 05926050 2022-07-01 2023-06-30 05926050 2023-06-30 05926050 bus:Director1 1 2023-06-30 05926050 bus:OrdinaryShareClass1 2023-06-30 05926050 core:RetainedEarningsAccumulatedLosses 2023-06-30 05926050 core:ShareCapital 2023-06-30 05926050 core:CurrentFinancialInstruments 2023-06-30 05926050 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 05926050 core:FurnitureFittings 2023-06-30 05926050 core:PlantMachinery 2023-06-30 05926050 bus:Director1 1 2022-07-01 2023-06-30 05926050 bus:Director1 1 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Filleted

Registration number: 05926050

Topia Systems Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Topia Systems Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Topia Systems Limited

Company Information

Director

Mr R Ferriday

Registered office

19 Llys Morfa
Llangunnor
Carmarthen
SA31 2NU

 

Topia Systems Limited

(Registration number: 05926050)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,701

1,647

Current assets

 

Debtors

6

3,740

2,671

Cash at bank and in hand

 

4,304

8,374

 

8,044

11,045

Creditors: Amounts falling due within one year

7

(23,600)

(14,991)

Net current liabilities

 

(15,556)

(3,946)

Total assets less current liabilities

 

(11,855)

(2,299)

Provisions for liabilities

(703)

(313)

Net liabilities

 

(12,558)

(2,612)

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

(13,558)

(3,612)

Total equity

 

(12,558)

(2,612)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 March 2025

.........................................
Mr R Ferriday
Director

   
     
 

Topia Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
19 Llys Morfa
Llangunnor
Carmarthen
SA31 2NU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Topia Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% straight line

Fixture and Fittings

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Topia Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

695

545

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 July 2023

977

16,319

17,296

Additions

-

2,749

2,749

At 30 June 2024

977

19,068

20,045

Depreciation

At 1 July 2023

926

14,723

15,649

Charge for the year

10

685

695

At 30 June 2024

936

15,408

16,344

Carrying amount

At 30 June 2024

41

3,660

3,701

At 30 June 2023

51

1,596

1,647

6

Debtors

2024
£

2023
£

Trade debtors

3,544

2,193

Prepayments

144

47

Other debtors

52

431

3,740

2,671

 

Topia Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

1,880

Taxation and social security

 

4,873

5,068

Directors' loan accounts

 

16,079

6,635

Other creditors

 

2,648

1,408

 

23,600

14,991

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

9

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Repayments by director
£

At 30 June 2024
£

Mr R Ferriday

Interest free loan repayable on demand

(6,635)

(9,444)

(16,079)

       
     

 

2023

At 1 July 2022
£

Repayments by director
£

At 30 June 2023
£

Mr R Ferriday

Interest free loan repayable on demand

807

(7,442)

(6,635)