Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01No description of principal activity1false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 3544745 2023-05-01 2024-04-30 3544745 2022-05-01 2023-04-30 3544745 2024-04-30 3544745 2023-04-30 3544745 c:Director1 2023-05-01 2024-04-30 3544745 d:FurnitureFittings 2023-05-01 2024-04-30 3544745 d:FurnitureFittings 2024-04-30 3544745 d:FurnitureFittings 2023-04-30 3544745 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 3544745 d:CurrentFinancialInstruments 2024-04-30 3544745 d:CurrentFinancialInstruments 2023-04-30 3544745 d:Non-currentFinancialInstruments 2024-04-30 3544745 d:Non-currentFinancialInstruments 2023-04-30 3544745 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 3544745 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 3544745 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 3544745 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 3544745 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 3544745 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 3544745 d:ShareCapital 2024-04-30 3544745 d:ShareCapital 2023-04-30 3544745 d:RetainedEarningsAccumulatedLosses 2024-04-30 3544745 d:RetainedEarningsAccumulatedLosses 2023-04-30 3544745 c:FRS102 2023-05-01 2024-04-30 3544745 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 3544745 c:FullAccounts 2023-05-01 2024-04-30 3544745 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 3544745 2 2023-05-01 2024-04-30 3544745 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 3544745









SYSTEMATICS UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED ENDED 30 APRIL 2024

 
SYSTEMATICS UK LIMITED
REGISTERED NUMBER: 3544745

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
67
90

  
67
90

Current assets
  

Debtors: amounts falling due within one year
 6 
297,048
464,582

Current asset investments
 7 
45,000
-

Cash at bank and in hand
 8 
459,470
310,716

  
801,518
775,298

Creditors: amounts falling due within one year
 9 
(653,444)
(606,922)

Net current assets
  
 
 
148,074
 
 
168,376

Total assets less current liabilities
  
148,141
168,466

Creditors: amounts falling due after more than one year
 10 
(13,773)
(23,773)

  

Net assets
  
134,368
144,693


Capital and reserves
  

Called up share capital 
  
65,000
65,000

Profit and loss account
  
69,368
79,693

  
134,368
144,693


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the Year ended in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 April 2025.
Page 1

 
SYSTEMATICS UK LIMITED
REGISTERED NUMBER: 3544745
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024




Okey Bon-Okoli
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SYSTEMATICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED ENDED 30 APRIL 2024

1.


General information

The company is limited by shares and incorporated in England. The address of the registerd office is
given in the company information page of these financial statements. The company's principal activity is
that of procurement services of computer peripheral equipment, IT network and electronic security equipment for clients.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
SYSTEMATICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the Year ended in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SYSTEMATICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
on a reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the Year ended was 1 (2023 - 1).

Page 5

 
SYSTEMATICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED ENDED 30 APRIL 2024

4.


Dividends

2024
2023
£
£


Dividends analysis
40,000
41,151

40,000
41,151


5.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 May 2023
9,096



At 30 April 2024

9,096



Depreciation


At 1 May 2023
9,006


Charge for the Year ended on owned assets
23



At 30 April 2024

9,029



Net book value



At 30 April 2024
67



At 30 April 2023
90


6.


Debtors

2024
2023
£
£


Trade debtors
275,971
414,582

Other debtors
21,077
50,000

297,048
464,582


Page 6

 
SYSTEMATICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED ENDED 30 APRIL 2024

7.


Current asset investments

2024
2023
£
£

Unlisted investments
45,000
-

45,000
-



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
459,470
310,716

Less: bank overdrafts
(1,433)
-

458,037
310,716



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
1,433
-

Bank loans
9,560
9,560

Trade creditors
630,833
585,196

Corporation tax
6,953
6,712

Other taxation and social security
1,591
882

Other creditors
74
72

Accruals and deferred income
3,000
4,500

653,444
606,922



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,773
23,773

13,773
23,773


Page 7

 
SYSTEMATICS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED ENDED 30 APRIL 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,560
9,560


9,560
9,560


Amounts falling due 2-5 years

Bank loans
13,773
23,773


13,773
23,773


23,333
33,333



12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge
represents contributions payable by the company to the fund and amounted to £409 (2023 - £396). Contributions totalling £76 (2023 - £73) were payable to the fund at the balance sheet date and are included in creditors.
 

 
Page 8