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REGISTERED NUMBER: 05845969 (England and Wales)



















VICTOR SYSTEMS LTD

UNAUDITED CESSATION FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






VICTOR SYSTEMS LTD (REGISTERED NUMBER: 05845969)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


VICTOR SYSTEMS LTD (REGISTERED NUMBER: 05845969)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 303 514
Investments 5 - 30
303 544

CURRENT ASSETS
Debtors 6 1,020 3,258
Cash at bank 2,434 1,306
3,454 4,564
CREDITORS
Amounts falling due within one year 7 3,652 12,503
NET CURRENT LIABILITIES (198 ) (7,939 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

105

(7,395

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 5 (7,495 )
SHAREHOLDERS' FUNDS 105 (7,395 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

VICTOR SYSTEMS LTD (REGISTERED NUMBER: 05845969)

BALANCE SHEET - continued
30 JUNE 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 April 2025 and were signed by:





M Mallett - Director


VICTOR SYSTEMS LTD (REGISTERED NUMBER: 05845969)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Victor Systems Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05845969

Registered office: Elmswood Titmore Green
Little Wymondley
Hitchin
Hertfordshire
SG4 7JT

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


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.

It is intended that the company be wound up in the near future so that the going concern basis of account preparation is no longer relevant.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is derived from satellite telecommunications activities and 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

VICTOR SYSTEMS LTD (REGISTERED NUMBER: 05845969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023
and 30 June 2024 4,239 866 2,500 1,120 8,725
DEPRECIATION
At 1 July 2023 3,897 859 2,463 992 8,211
Charge for year 85 2 9 115 211
At 30 June 2024 3,982 861 2,472 1,107 8,422
NET BOOK VALUE
At 30 June 2024 257 5 28 13 303
At 30 June 2023 342 7 37 128 514

VICTOR SYSTEMS LTD (REGISTERED NUMBER: 05845969)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 July 2023 30
Disposals (30 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 30

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 2,238
Other debtors 1,020 1,020
1,020 3,258

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 492 269
Other creditors 3,160 12,234
3,652 12,503

8. RELATED PARTY DISCLOSURES

At the balance sheet date, the director was owed £1,807 (2023: £10,914 ).

Dividends of £1,000 (2023: £2,000) were paid to the director during the year.

At the balance sheet date, £1,020 (2023: £1,020) was due from Rothwell Properties Limited, a company in which the company's director is also a director and shareholder.