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Registered number: 04166182












SYS-TEAMS LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED
 31 DECEMBER 2024



















 


img78e6.png
01483 755 399
hamlyns.com

 
SYS-TEAMS LIMITED
REGISTERED NUMBER: 04166182

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
89,590
156,261

  
89,590
156,261

Current assets
  

Stocks
  
34,184
2,421

Debtors: amounts falling due within one year
 5 
827,960
716,358

Cash at bank and in hand
  
1,448,568
1,486,493

  
2,310,712
2,205,272

Creditors: amounts falling due within one year
 6 
(845,057)
(1,022,197)

Net current assets
  
 
 
1,465,655
 
 
1,183,075

Total assets less current liabilities
  
1,555,245
1,339,336

  

Net assets
  
1,555,245
1,339,336


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Profit and loss account
  
1,554,245
1,338,336

  
1,555,245
1,339,336


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 3 June 2025.




Kevin Joseph Mcgree
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
SYS-TEAMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Sys-Teams Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address and registered number are as follows:
Registered office address: Sundial House, High Street, Horsell, Woking, Surrey, GU21 4SU
Registered number: 04166182
The presentational currency of the financial statements is Pound Sterling (£).

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

Turnover

Turnover represents the invoiced value, net of Value Added Tax, of goods sold and services provided to customers. Revenue is recognised when the right to consideration has been established. Revenue from the provision of maintenance contracts is recognised over the period of the contract.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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

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.

Page 2

 
SYS-TEAMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20% on cost
Motor vehicles
-
25% on cost
Fixtures and fittings
-
25% on cost
Computer equipment
-
33% on cost
Improvements to property
-
over remaining term of the lease

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.

Page 3

 
SYS-TEAMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 32).

Page 4

 
SYS-TEAMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Other fixed assets

£
£
£
£
£



Cost or valuation


At 1 January 2024
6,550
393,957
37,838
42,054
23,628


Additions
-
-
-
3,019
-



At 31 December 2024

6,550
393,957
37,838
45,073
23,628



Depreciation


At 1 January 2024
6,550
262,463
28,313
33,266
17,174


Charge for the year on owned assets
-
58,197
3,537
6,036
1,920



At 31 December 2024

6,550
320,660
31,850
39,302
19,094



Net book value



At 31 December 2024
-
73,297
5,988
5,771
4,534



At 31 December 2023
-
131,494
9,525
8,788
6,454

Total

£



Cost or valuation


At 1 January 2024
504,027


Additions
3,019



At 31 December 2024

507,046



Depreciation


At 1 January 2024
347,766


Charge for the year on owned assets
69,690



At 31 December 2024

417,456



Net book value



At 31 December 2024
89,590



At 31 December 2023
156,261

Page 5

 
SYS-TEAMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
679,333
604,577

Other debtors
12,422
-

Prepayments and accrued income
111,235
101,299

Deferred taxation
24,970
10,482

827,960
716,358



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
380,407
403,695

Corporation tax
-
185,336

Other taxation and social security
174,329
170,643

Other creditors
-
20,000

Accruals and deferred income
290,321
242,523

845,057
1,022,197



7.


Deferred taxation




2024


£






At beginning of year
10,482


Charged to profit or loss
14,488



At end of year
24,970

The deferred tax asset is made up as follows:

2024
2023
£
£


Depreciation in excess of capital allowances
24,970
10,482

24,970
10,482

Page 6

 
SYS-TEAMS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares shares of £1.00 each
1,000
1,000



9.


Ultimate Controlling Party

The smallest group in which the results of the Company are consolidated is that headed by Stratacache  Limited, a company incorporated in Republic of Ireland and registered office is Riverside One, Sir John Rogerson's Quay, Dublin Docklands, Dublin 2, D02 X576, Ireland.
On 9th February 2024, 100% of the share capital of Sys-Teams Limited was purchased by Stratacache Global Holdings Limited, a  private company registered in Ireland. The registered office is Ten Earlsfort Terrace, Dublin 2, Ireland. From this point, this is the smallest group in which the results of the company are consolidated.
No other group financial statements include the results of the Company.
The ultimate parent undertaking is Stratacache Inc a company incorporated in the United States of America. 


10.
 

Provisions available for audits of small entities

In common with many other businesses of our size and nature, we use our auditor to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 5 June 2025 by Oliver Spevack ACA FCCA (senior statutory auditor) on behalf of Hamlyns Limited.


Page 7