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Registered number: 12806673










FINANCE SYSTEMS IMPLEMENTATION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2024

 
FINANCE SYSTEMS IMPLEMENTATION LIMITED
REGISTERED NUMBER: 12806673

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
4,200

Cash at bank and in hand
 5 
68,917
20,726

  
68,917
24,926

Creditors: amounts falling due within one year
 6 
(44,375)
(2,837)

Net current assets
  
 
 
24,542
 
 
22,089

Total assets less current liabilities
  
24,542
22,089

  

Net assets
  
24,542
22,089


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
24,442
21,989

  
24,542
22,089


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
FINANCE SYSTEMS IMPLEMENTATION LIMITED
REGISTERED NUMBER: 12806673
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Nicholas Hanes
Director

Date: 24 June 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
FINANCE SYSTEMS IMPLEMENTATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

1.


General information

Finance Systems Implementation limited is a private company, limited by shares. The company is registered in England and Wales and domiciled in the UK. The address of the registered office is 1 Vincent Square, London SW1P 2PN.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Taxation

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.


 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
FINANCE SYSTEMS IMPLEMENTATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2023 - 2).


4.


Debtors

2024
2023
£
£


Trade debtors
-
4,200

-
4,200



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
68,917
20,726

68,917
20,726


Page 4

 
FINANCE SYSTEMS IMPLEMENTATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
30,363
-

Other taxation and social security
11,404
693

Other creditors
2,608
1,931

Accruals and deferred income
-
213

44,375
2,837



7.


Related party transactions

At the balance sheet date, an amount of £2,608 (2023 - £1,931) is owed by the company to the director Nicholas Hanes. Interest has not been charged on the loan and repayment terms had not been agreed at the balance sheet date.

 
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