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REGISTERED NUMBER: 05263022 (England and Wales)











YZ SYSTEMS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






YZ SYSTEMS LTD (REGISTERED NUMBER: 05263022)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


YZ SYSTEMS LTD (REGISTERED NUMBER: 05263022)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 843,333 953,333
Tangible assets 5 450,472 43,862
1,293,805 997,195

CURRENT ASSETS
Stocks 724,059 1,047,543
Debtors 6 1,150,990 855,627
Cash at bank 157,163 173,133
2,032,212 2,076,303
CREDITORS
Amounts falling due within one year 7 5,404,272 5,064,255
NET CURRENT LIABILITIES (3,372,060 ) (2,987,952 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,078,255

)

(1,990,757

)

CAPITAL AND RESERVES
Called up share capital 8 20 20
Share premium 9,990 9,990
Retained earnings (2,088,265 ) (2,000,767 )
SHAREHOLDERS' FUNDS (2,078,255 ) (1,990,757 )

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 and authorised for issue by the Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





M J Scheske - Director


YZ SYSTEMS LTD (REGISTERED NUMBER: 05263022)

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


1. STATUTORY INFORMATION

YZ Systems Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05263022

Registered office: North Hylton Road
Sunderland
SR5 3JD

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 represents amounts (excluding value added tax) derived from the provision of goods and services to customers during the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - at varying rates on cost
Plant and machinery - 25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.


YZ SYSTEMS LTD (REGISTERED NUMBER: 05263022)

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


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The financial statements have been prepared on a going concern basis.

The Company has incurred a net loss for the year of £87,498 and has net liabilities of £3,372,060. The 2024 financial year has been a year of significant growth for the company as a result of the groups investment in 2023 for the future of the company.

The ultimate parent company has expressed its willingness to support the company for a period of 12 months from the approval of the financial statements.

Accordingly, given such support, the directors have prepared these financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 27 ) .

YZ SYSTEMS LTD (REGISTERED NUMBER: 05263022)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2024
and 31 December 2024 1,100,000
AMORTISATION
At 1 January 2024 146,667
Charge for year 110,000
At 31 December 2024 256,667
NET BOOK VALUE
At 31 December 2024 843,333
At 31 December 2023 953,333

5. TANGIBLE FIXED ASSETS
Land and Plant and
buildings machinery Totals
£    £    £   
COST
At 1 January 2024 - 59,689 59,689
Additions 425,296 18,834 444,130
At 31 December 2024 425,296 78,523 503,819
DEPRECIATION
At 1 January 2024 - 15,827 15,827
Charge for year 18,515 19,005 37,520
At 31 December 2024 18,515 34,832 53,347
NET BOOK VALUE
At 31 December 2024 406,781 43,691 450,472
At 31 December 2023 - 43,862 43,862

YZ SYSTEMS LTD (REGISTERED NUMBER: 05263022)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 274,372 501,389
Amounts owed by group undertakings 2,546 -
Other debtors 805,685 245,766
Corporation tax - 66
VAT - 60,818
Prepayments and accrued income 68,387 47,588
1,150,990 855,627

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 190,859 417,030
Amounts owed to group undertakings 4,451,721 3,435,623
Social security and other taxes 34,860 36,067
VAT 368,380 -
Other creditors 26,046 34,224
Accruals and deferred income 332,406 1,141,311
5,404,272 5,064,255

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20 Ordinary 1 20 20

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Ian Baker FCCA (Senior Statutory Auditor)
for and on behalf of CFW Accountants LLP

10. OTHER FINANCIAL COMMITMENTS

The company had other financial commitments, in the form of operating leases, amounting to £800,000 (2023 £406,667).

YZ SYSTEMS LTD (REGISTERED NUMBER: 05263022)

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


11. ULTIMATE CONTROLLING PARTY

The immediate parent undertaking is Haskel Europe Ltd whose registered office is North Hylton Road, Sunderland, SR5 3JD.

The ultimate parent undertaking and controlling party is Ingersoll Rand Inc, a company incorporated in Delaware, USA.

The results of the company are consolidated into the financial statements of Ingersoll Rand Inc, a company incorporated in Delaware, USA. These financial statement can be obtained on the USA Securities and Exchange Commission website.