REGISTERED NUMBER: 07359773 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 August 2024

for

Systemwork CS Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J P Durham

REGISTERED OFFICE:

Platform

New Station Road

Leeds

West Yorkshire

LS1 4JB

REGISTERED NUMBER:

07359773 (England and Wales)

ACCOUNTANTS:

Equate Limited

Chartered Certified Accountants

The Hive

142 Thornes Lane

Wakefield

West Yorkshire

WF2 7RE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

5,210

7,950

5,210

7,950

CURRENT ASSETS

Debtors

6

33,125

28,831

Cash at bank

60,905

106,349

94,030

135,180

CREDITORS

Amounts falling due within one year

7

61,097

92,377

NET CURRENT ASSETS

32,933

42,803

TOTAL ASSETS LESS CURRENT LIABILITIES

38,143

50,753

CREDITORS

Amounts falling due after more than one year

8

(7,853

)

(18,193

)

PROVISIONS FOR LIABILITIES

(1,302

)

(1,988

)

NET ASSETS

28,988

30,572

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

28,986

30,570

SHAREHOLDERS' FUNDS

28,988

30,572

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 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 21 May 2025 and were signed by:

J P Durham - Director

1.	STATUTORY INFORMATION

Systemwork CS 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Financial instruments

The company only enters into basic financial instruments transactions 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.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2023

and 31 August 2024

10,000

AMORTISATION

At 1 September 2023

and 31 August 2024

10,000

NET BOOK VALUE

At 31 August 2024

-

At 31 August 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2023

and 31 August 2024

12,356

460

12,816

DEPRECIATION

At 1 September 2023

4,406

460

4,866

Charge for year

2,740

-

2,740

At 31 August 2024

7,146

460

7,606

NET BOOK VALUE

At 31 August 2024

5,210

-

5,210

At 31 August 2023

7,950

-

7,950

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Trade debtors

21,873

28,666

Other debtors

11,252

-

Prepayments and accrued income

-

165

33,125

28,831

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans and overdrafts

10,340

10,167

Trade creditors

5,909

(2,129

)

Tax

28,454

16,315

Social security and other taxes

2,899

1,692

VAT

7,799

11,919

Directors' current accounts

1,027

54,221

Accruals and deferred income

4,669

192

61,097

92,377

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans - 1-2 years

7,853

10,340

Bank loans - 2-5 years

-

7,853

7,853

18,193

9.	RELATED PARTY DISCLOSURES

During the year loans were advanced by a company under the common control of the directors. The value of the loans was £11,252, this was also the amount outstanding at the year end. The loans are non interest bearing. A repayment plan has not been formally agreed however it will not be within 12 months of the year end.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is J P Durham.