Company registration number 05474715 (England and Wales)
SYSTEM DEVICES UK LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
SYSTEM DEVICES UK LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SYSTEM DEVICES UK LTD
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
4
49,870
54,857
Tangible assets
5
241,808
241,248
291,678
296,105
Current assets
Stocks
223,068
238,429
Debtors
6
274,893
194,699
Cash at bank and in hand
365,195
355,748
863,156
788,876
Creditors: amounts falling due within one year
7
(387,711)
(336,182)
Net current assets
475,445
452,694
Total assets less current liabilities
767,123
748,799
Provisions for liabilities
(21,990)
(20,500)
Net assets
745,133
728,299
Capital and reserves
Called up share capital
8
400
400
Capital redemption reserve
100
100
Profit and loss reserves
744,633
727,799
Total equity
745,133
728,299
SYSTEM DEVICES UK LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 25 July 2025 and are signed on its behalf by:
I J Rennell
M Stewart
Director
Director
Company registration number 05474715 (England and Wales)
SYSTEM DEVICES UK LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
1
Accounting policies
Company information
System Devices UK Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 1 Beeston Court, Manor Park, Runcorn, Cheshire, WA7 1SS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual installments over its estimated useful economic life.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Straight line over 40 years
Plant and machinery
25% Reducing balance basis
Fixtures, fittings & equipment
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs that have been incurred in bringing the stocks to their present location and condition.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
SYSTEM DEVICES UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
SYSTEM DEVICES UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was 7 (2024 - 7).
2025
2024
Number
Number
Total
7
7
4
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2024 and 31 January 2025
166,232
Amortisation and impairment
At 1 February 2024
111,375
Amortisation charged for the year
4,987
At 31 January 2025
116,362
Carrying amount
At 31 January 2025
49,870
At 31 January 2024
54,857
SYSTEM DEVICES UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2024
322,137
96,141
418,278
Additions
23,712
23,712
At 31 January 2025
322,137
119,853
441,990
Depreciation and impairment
At 1 February 2024
110,188
66,842
177,030
Depreciation charged in the year
8,212
14,940
23,152
At 31 January 2025
118,400
81,782
200,182
Carrying amount
At 31 January 2025
203,737
38,071
241,808
At 31 January 2024
211,949
29,299
241,248
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
234,160
157,718
Other debtors
40,733
36,981
274,893
194,699
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
162,718
115,228
Corporation tax
86,915
101,709
Other taxation and social security
71,177
54,570
Other creditors
66,901
64,675
387,711
336,182
SYSTEM DEVICES UK LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
8
Called up share capital
2025
2024
£
£
Issued and fully paid
100 'B' Ordinary shares of £1 each
100
100
100 'C' Ordinary shares of £1 each
100
100
100 'D' Ordinary shares of £1 each
100
100
100 'E' Ordinary shares of £1 each
100
100
400
400
9
Operating lease commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Total commitments
21,664
26,685