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REGISTERED NUMBER: 05902642 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 August 2024

for

Sheffield Business Systems Limited

Sheffield Business Systems Limited (Registered number: 05902642)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Sheffield Business Systems Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: P S Panks





REGISTERED OFFICE: Unit 4
Amberley Court
101 Effingham Street
Rotherham
South Yorkshire
S65 1BL





REGISTERED NUMBER: 05902642 (England and Wales)

Sheffield Business Systems Limited (Registered number: 05902642)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 54,921 81,545

CURRENT ASSETS
Stocks 1,000 1,000
Debtors 5 323,304 242,053
Cash at bank 84,139 88,486
408,443 331,539
CREDITORS
Amounts falling due within one year 6 171,445 99,770
NET CURRENT ASSETS 236,998 231,769
TOTAL ASSETS LESS CURRENT
LIABILITIES

291,919

313,314

CREDITORS
Amounts falling due after more than one
year

7

(16,319

)

(24,987

)

PROVISIONS FOR LIABILITIES (13,730 ) (20,386 )
NET ASSETS 261,870 267,941

CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Retained earnings 260,869 266,940
SHAREHOLDERS' FUNDS 261,870 267,941

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.

Sheffield Business Systems Limited (Registered number: 05902642)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 May 2025 and were signed by:





P S Panks - Director


Sheffield Business Systems Limited (Registered number: 05902642)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Sheffield Business 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Sheffield Business Systems Limited (Registered number: 05902642)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company makes employer pension contributions to employee personal pensions and complies with auto enrolment.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 104,985
Disposals (8,975 )
At 31 August 2024 96,010
DEPRECIATION
At 1 September 2023 23,440
Charge for year 20,315
Eliminated on disposal (2,666 )
At 31 August 2024 41,089
NET BOOK VALUE
At 31 August 2024 54,921
At 31 August 2023 81,545

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 September 2023 66,865
Disposals (8,975 )
At 31 August 2024 57,890
DEPRECIATION
At 1 September 2023 8,545
Charge for year 14,021
Eliminated on disposal (2,666 )
At 31 August 2024 19,900
NET BOOK VALUE
At 31 August 2024 37,990
At 31 August 2023 58,320

Sheffield Business Systems Limited (Registered number: 05902642)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 177,305 90,576
Other debtors 475 475
177,780 91,051

Amounts falling due after more than one year:
Other debtors 145,524 151,002

Aggregate amounts 323,304 242,053

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 8,668 8,668
Trade creditors 88,010 44,287
Taxation and social security 57,041 33,079
Other creditors 17,726 13,736
171,445 99,770

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 16,319 24,987

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 24,987 33,655

9. ULTIMATE CONTROLLING PARTY

The controlling party is P S Panks.