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REGISTERED NUMBER: 02271395 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

MINSTER COMPUTER SYSTEMS LIMITED

MINSTER COMPUTER SYSTEMS LIMITED (REGISTERED NUMBER: 02271395)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


MINSTER COMPUTER SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: Mr P Van Deventer





REGISTERED OFFICE: 3 Sherbrook House
Swan Mews
Lichfield
Staffordshire
WS13 6TU





REGISTERED NUMBER: 02271395 (England and Wales)





ACCOUNTANTS: Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ

MINSTER COMPUTER SYSTEMS LIMITED (REGISTERED NUMBER: 02271395)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 5 39,526 32,622

Current assets
Debtors 6 348,077 253,578
Cash at bank and in hand 256,234 273,229
604,311 526,807
Creditors
Amounts falling due within one year 7 305,583 209,882
Net current assets 298,728 316,925
Total assets less current liabilities 338,254 349,547

Capital and reserves
Called up share capital 9 35,006 35,006
Share premium 136,115 136,115
Capital redemption reserve 8,893 8,893
Retained earnings 158,240 169,533
Shareholders' funds 338,254 349,547

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

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

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 director and authorised for issue on 17 April 2025 and were signed by:



Mr P Van Deventer - Director


MINSTER COMPUTER SYSTEMS LIMITED (REGISTERED NUMBER: 02271395)

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


1. STATUTORY INFORMATION

Minster Computer 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 (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced goods and services, excluding value added tax.

In respect of long term contracts for on-going services, turnover represents the value of work done during the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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 etc - 33% on reducing balance and 15% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

MINSTER COMPUTER SYSTEMS LIMITED (REGISTERED NUMBER: 02271395)

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


3. ACCOUNTING POLICIES - continued

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 12 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2023 48,685
Additions 21,372
At 30 November 2024 70,057
DEPRECIATION
At 1 December 2023 16,063
Charge for year 14,468
At 30 November 2024 30,531
NET BOOK VALUE
At 30 November 2024 39,526
At 30 November 2023 32,622

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 167,976 74,742
Amounts owed by group undertakings 143,735 143,495
Other debtors 36,366 35,341
348,077 253,578

MINSTER COMPUTER SYSTEMS LIMITED (REGISTERED NUMBER: 02271395)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 22,713 5,898
Taxation and social security 54,287 24,556
Other creditors 228,583 179,428
305,583 209,882

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 46,102 46,102
Between one and five years 70,566 105,418
In more than five years - 11,250
116,668 162,770

9. CALLED UP SHARE CAPITAL

Allotted, called up and fully paid shares

2021 2021 2020 2020
No. £    No. £   

Ordinary Class A Shares of £1 each 20,000 20,000 20,000 20,000
Ordinary Class C Shares of £1 each 10,000 10,000 10,000 10,000
Ordinary Class D Shares of £1 each 2 2 2 2
Ordinary Class F Shares of £1 each 1 1 1 1
Ordinary Class N Shares of £1 each 1 1 1 1
Ordinary Class O Shares of £1 each 1 1 1 1
Ordinary Class P Shares of £1 each 1 1 1 1
Ordinary Class B Shares of £1 each 5,000 5,000 5,000 5,000
35,006 35,006 35,006 35,006

MINSTER COMPUTER SYSTEMS LIMITED (REGISTERED NUMBER: 02271395)

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


10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
Mr P Van Deventer
Balance outstanding at start of year 7,654 8,588
Amounts advanced 12,244 7,654
Amounts repaid (7,654 ) (8,588 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,244 7,654

11. RELATED PARTY DISCLOSURES

Directors
The director owed the company £12,244 (2023: £7,654) at the year end. This loan has interest of 2.5% per annum applied to it and is repayable on demand.

Palega Limited
Owns 100% of the share capital of Minster Computer Systems Limited

During the year, the company recharged costs to Palega Limited of £240 (2023 £240) and was charged management charges by Palega Limited of £48,000 (2023: £17,000). There was a balance outstanding to Minster Computer Systems Limited at the year end of £143,735 (2023: £143,495).

12. ULTIMATE PARENT COMPANY

Palega Limited is regarded by the director as being the company's ultimate parent company. Palega Limited's registered office address is 3 Sherbrook House, Swan Mews, Lichfield, Staffordshire, WS13 6TU.

The director, Mr P Van Deventer, owned 80% of the share capital of Palega Limited.