FINANCIAL PERIOD DATA REFRESH REQUIRED
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Registration number:
Systema Nova Limited
for the Year Ended 31 December 2024
Systema Nova Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
Systema Nova Limited
Company Information
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Director |
S Mardel |
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Registered office |
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Auditors |
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Systema Nova Limited
Strategic Report for the Year Ended 31 December 2024
The director presents the strategic report for the year ended 31 December 2024.
Principal activity
The principal activity of the group is that of investment management.
Fair review of the business
The company was authorised to conduct investment business by the Financial Conduct Authority on 13 September 2022. Since that date the company has operated as an investment manager to VC funds and has continued to receive income from unregulated services including the provision of research and data.
The results for the year and the financial position at the year-end are considered satisfactory by the director.
Financial key performance indicators
The director considers operating loss to be the Company's financial key performance indicator.
Other key performance indicators
The director does not consider an analysis of non-financial key performance indicators to be necessary in view of the size and relative simplicity of the Company.
Principal risks and uncertainties
The company is in the process of ceasing its business as an regulated asset manager and intends to continue to operator as a provider of unregulated research and data services. The company is reliant on the continued demand from clients for its research services.
Directors' duty to promote the success of the company
Section 172(1) of the Companies Act 2006, a director of the company must act in the way he considers, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole, and in doing so have regard, (amongst other things) to:
a) the likely consequences of any decision in the long term
b) the interests of the company’s employees
c) the need to foster the company’s business relationships with suppliers, customers and others,
d) the impact of the company’s operations on the community and the environment,
e) the desirability of the company maintaining a reputation for high standards of business conduct, and
f) the need to act fairly between members of the company.
The directors consider that they have acted in accordance with these duties, specifically, as a small AIFM the directors are acutely aware of the importance to our staff and suppliers to the ongoing success of the Company and therefore the directors consider, for all decisions taken, the potential short, medium and long term consequences with respect to all the Company's stakeholders. The Company is establishing itself as a reputable AIFM and seeks to achieve high standards in its dealings with staff, shareholders, suppliers and other stakeholders.
The Company is committed to acting responsibly with respect to environmental, social and governance issues.
Systema Nova Limited
Strategic Report for the Year Ended 31 December 2024 (continued)
Approved and authorised by the
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Systema Nova Limited
Director's Report for the Year Ended 31 December 2024
The report and the for the year ended 31 December 2024.
Director of the group
The director who held office during the year was as follows:
Disclosure of information to the auditor
The director has taken steps that ought to have taken as a director in order to make aware of any relevant audit information and to establish that the company's auditor is aware of that information. The director confirms that there is no relevant information that of and of which the auditor is unaware.
Reappointment of auditors
EVMS Partners LLP will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Approved and authorised by the
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Systema Nova Limited
Statement of Director's Responsibilities
The responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable to ensure that the financial statements comply with the Companies Act 2006. also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Systema Nova Limited
Independent Auditor's Report to the Members of Systema Nova Limited
Opinion
We have audited the financial statements of Systema Nova Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2024 and of the group's loss for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
Systema Nova Limited
Independent Auditor's Report to the Members of Systema Nova Limited (continued)
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 5], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Systema Nova Limited
Independent Auditor's Report to the Members of Systema Nova Limited (continued)
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, and non-compliance with laws and regulations, our procedures included the following: enquiring of management concerning the Company’s policies with regards identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; enquiring of management concerning the Company’s policies detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; enquiring of management concerning the Company’s policies in relation to the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; discussing among the engagement team where fraud might occur in the financial statements and any potential indicators of fraud; and obtaining an understanding of the legal and regulatory framework that the Company operates in and focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Company. The key laws and regulations we considered in this context included the UK Companies Act 2006, applicable tax legislation and the relevant rules of the Financial Conduct Authority (‘FCA’).
One particular focus area was the risk of fraud through management override of controls. Our procedures to respond to risks identified included the following: performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; reviewing the bank statements of the Company for evidence of any large or unusual activity which may be indicative of fraud; enquiring of management in relation to any potential litigation and claims; and testing the appropriateness of journal entries and other adjustments.
Another focus area was non-compliance with the rules of the FCA. The Company was authorised and regulated by the FCA throughout the period. Our procedures to respond to risks identified included the following: reviewing correspondence between the Company and the FCA, performing analytical review to detect receipts of client money and remaining alert to the possibility of accidental receipt of client monies; and discussion of regulatory matters with the appointed officers of the Company.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Systema Nova Limited
Independent Auditor's Report to the Members of Systema Nova Limited (continued)
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For and on behalf of
4th Floor
45 Ludgate Hill
EC4M 7JU
Systema Nova Limited
Consolidated Profit and Loss Account for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Turnover |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating loss |
( |
( |
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Loss before tax |
( |
( |
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Tax on loss |
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- |
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Loss for the financial year |
( |
( |
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Profit/(loss) attributable to: |
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Owners of the company |
( |
( |
The group has no recognised gains or losses for the year other than the results above.
Systema Nova Limited
(Registration number: 12364900)
Consolidated Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
304,250 |
249,108 |
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Share premium reserve |
335,530 |
125,892 |
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Retained earnings |
(526,262) |
(24,698) |
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Equity attributable to owners of the company |
113,518 |
350,302 |
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Shareholders' funds |
113,518 |
350,302 |
Approved and authorised by the
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Systema Nova Limited
(Registration number: 12364900)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
304,250 |
249,108 |
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Share premium reserve |
335,530 |
125,892 |
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Retained earnings |
(528,065) |
(24,698) |
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Shareholders' funds |
111,715 |
350,302 |
The company made a loss after tax for the financial year of £503,367 (2023 - loss of £24,980).
Approved and authorised by the
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Systema Nova Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Share premium |
Retained earnings |
Total |
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At 1 January 2024 |
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( |
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Loss for the year |
- |
- |
( |
( |
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New share capital subscribed |
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- |
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At 31 December 2024 |
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( |
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Share capital |
Share premium |
Retained earnings |
Total |
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At 1 January 2023 |
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- |
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Loss for the year |
- |
- |
( |
( |
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New share capital subscribed |
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- |
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At 31 December 2023 |
249,108 |
125,892 |
(24,698) |
350,302 |
Systema Nova Limited
Statement of Changes in Equity for the Year Ended 31 December 2024
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Share capital |
Share premium |
Retained earnings |
Total |
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At 1 January 2024 |
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( |
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Loss for the year |
- |
- |
( |
( |
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New share capital subscribed |
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- |
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At 31 December 2024 |
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( |
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Share capital |
Share premium |
Retained earnings |
Total |
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At 1 January 2023 |
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- |
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Loss for the year |
- |
- |
( |
( |
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New share capital subscribed |
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- |
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At 31 December 2023 |
249,108 |
125,892 |
(24,698) |
350,302 |
Systema Nova Limited
Consolidated Statement of Cash Flows for the Year Ended 31 December 2024
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Note |
2024 |
2023 |
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Cash flows from operating activities |
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Loss for the year |
( |
( |
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Adjustments to cash flows from non-cash items |
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Depreciation and amortisation |
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- |
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Income tax expense |
( |
- |
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( |
( |
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Working capital adjustments |
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Decrease/(increase) in trade debtors |
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( |
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(Decrease)/increase in trade creditors |
( |
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Cash generated from operations |
( |
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Income taxes paid |
- |
( |
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Net cash flow from operating activities |
( |
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Cash flows from investing activities |
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Acquisition of subsidiaries |
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- |
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Cash flows from financing activities |
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Proceeds from issue of ordinary shares, net of issue costs |
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Net (decrease)/increase in cash and cash equivalents |
( |
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Cash and cash equivalents at 1 January |
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Cash and cash equivalents at 31 December |
59,546 |
285,755 |
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Systema Nova Limited
Notes to the Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
The Company has taken advantage of the exemption under section 408 of the Companies Act 2006 and therefore an individual statement of comprehensive income for the Company has not been presented. The total loss for the year for the Company for the period ended 31 December 2024 was £503,367 (2023: £24,980).
The Company has taken exemptions under section 1.12 of FRS 102 and not presented an individual statement of cash flows for the Company..
Systema Nova Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
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Accounting policies (continued) |
Going concern
During the year the director took the decision that the Company should cease management of the Systema Nova funds and focus on its other activities. The Company is therefore in the process of transferring its regulated business to an alternative AIFM and is seeking to give up its regulatory permissions. The intention of the director is that the Company will continue to trade as a provider of non-regulated research services.
The principal shareholder (who is also the director) has indicated his intention to support the business for the foreseeable future. At the time of approving these financial statements the director therefore has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future of not less than 12 months from the date of signing of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.
Judgements
Management are required to exercise judgement in applying the company's accounting policies. Due to the straightforward nature of the business, management consider that no critical judgements have been made in applying the company's accounting policies. |
Key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. Management do not consider there are any key accounting estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Systema Nova Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
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Accounting policies (continued) |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Software |
5 years straight line |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Systema Nova Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
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Accounting policies (continued) |
Financial instruments
Classification
All trade and other debtors are initially recognised at transaction value, as none contain in substance a financing transaction. Thereafter trade and other debtors are reviewed for impairment where there is objective evidence based on observable data that the balance may be impaired. The company does not hold collateral against its trade and other receivables so its exposure to credit risk is the net balance of trade and other debtors after allowance for impairment.
The company’s cash holdings comprise on demand balances. All cash is held with banks with strong external credit ratings. Trade and other creditors and accruals are initially recognised at transaction value as none represent a financing transaction. They are only derecognised when they are extinguished. Liabilities are classified as current if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
As the company only has short term receivables and payables, its net current asset position is a reasonable measure of its liquidity at any given time.
Subsidiary audit exemption
Astranova (Un) Ltd (company number 14677866) has taken advantage of the exemption allowed under section 479A of the Companies Act 2006 for the period ended 31 December 2024. Therefore the parent undertaking Systema Nova Ltd (company number 12364900) guarantees all outstanding liabilities to which the subsidiary company is subject at the end of the financial year to which the guarantee relates, until they are satisfied in full, and the guarantee is enforceable against the parent undertaking by any person to whom the subsidiary company is liable in respect of those liabilities.
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Turnover |
The analysis of the group's turnover for the year from continuing operations is as follows:
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2024 |
2023 |
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Rendering of services |
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Operating loss |
Arrived at after charging/(crediting)
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2024 |
2023 |
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Amortisation expense |
|
- |
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Foreign exchange losses |
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Systema Nova Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
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Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
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2024 |
2023 |
|
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Wages and salaries |
|
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Social security costs |
|
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Pension costs, defined contribution scheme |
|
- |
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The director received no remuneration during the year (2023: nil).
The average number of persons employed by the group (including the director) during the year, analysed by category was as follows:
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2024 |
2023 |
|
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Administration and support |
|
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Other departments |
|
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Auditors' remuneration |
|
2024 |
2023 |
|
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Audit of these financial statements |
12,000 |
11,000 |
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Other fees to auditors |
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Taxation compliance services |
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All other non-audit services |
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Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2024 |
2023 |
|
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Current taxation |
||
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UK corporation tax |
( |
- |
Systema Nova Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
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Intangible assets |
Group
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Goodwill |
Internally generated software development costs |
Total |
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Cost or valuation |
|||
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Acquired through business combinations |
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At 31 December 2024 |
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Amortisation |
|||
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Amortisation charge |
- |
|
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At 31 December 2024 |
- |
|
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|
Carrying amount |
|||
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At 31 December 2024 |
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Systema Nova Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
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Investments |
Company
|
2024 |
2023 |
|
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Investments in subsidiaries |
|
- |
|
Subsidiaries |
£ |
|
Cost or valuation |
|
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Additions |
|
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Provision |
|
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Carrying amount |
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At 31 December 2024 |
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|
Business combinations |
On 9 May 2024 the Company acquired 100% of the issued share capital of Astranova (Un) Limited ('Astranova') for a consideration of £1. The identifiable net assets of Astranova at the date of acquisition comprised software of £49,525, cash of £10,831 and other net liabilities of £62,652 so goodwill of £3,085 was recognised as a result of the business combination.
|
Debtors |
|
Group |
Company |
||||
|
Current |
Note |
2024 |
2023 |
2024 |
2023 |
|
Trade debtors |
|
|
|
|
|
|
Amounts owed by related parties |
- |
- |
|
- |
|
|
Other debtors |
|
|
|
|
|
|
Prepayments |
|
|
|
|
|
|
|
|
|
|
||
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
Cash at bank |
|
|
|
|
Systema Nova Limited
Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)
|
Creditors |
|
Group |
Company |
|||
|
2024 |
2023 |
2024 |
2023 |
|
|
Due within one year |
||||
|
Trade creditors |
|
|
|
|
|
Social security and other taxes |
- |
|
- |
|
|
Other payables |
|
|
|
|
|
Accruals |
|
|
|
|
|
|
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
304,250 |
|
249,108 |
New shares allotted
|
During the year 55,142 |
|
Related party transactions |
Group
Trade debtors as at 31 December 2024 include amounts of £47,675 due from companies under common control.
The entirety of the group's income in 2023 was derived from UFP Research, a partnership under common control. As at 31 December 2023 an amount of £127,000 within trade debtors was due from UFP Research.
The ultimate controlling party is S Mardel.