REGISTERED NUMBER: 08322725 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Lisam Systems Ltd

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

T Levintoff

M Hemberg

S Bradshaw

REGISTERED OFFICE:

18 Scarborough Street

Hartlepool

TS24 7DA

REGISTERED NUMBER:

08322725 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

31 Victoria Road

Darlinghton

DL1 5SB

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of software sales and licencing.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

T Levintoff

M Hemberg

S Bradshaw

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

S Bradshaw - Director

18 June 2025

FIXED ASSETS

Tangible assets

4

12,287

7,593

Investment property

5

-

65,000

12,287

72,593

CURRENT ASSETS

Debtors

6

137,215

175,820

Cash at bank

723,614

260,311

860,829

436,131

CREDITORS

Amounts falling due within one year

7

518,644

365,894

NET CURRENT ASSETS

342,185

70,237

TOTAL ASSETS LESS CURRENT LIABILITIES

354,472

142,830

CREDITORS

Amounts falling due after more than one year

8

-

91,515

NET ASSETS

354,472

51,315

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

354,172

51,015

354,472

51,315

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by:

S Bradshaw - Director

1.	STATUTORY INFORMATION

Lisam Systems Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 fair value of the consideration received, excluding discounts and value added tax. Software licence income is allocated over the period covered by the licence on a time basis.

Software licence purchases

Software licence purchases are allocated over the period covered by the licence on a time basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

15,506

Additions

8,790

At 31 December 2024

24,296

DEPRECIATION

At 1 January 2024

7,913

Charge for year

4,096

At 31 December 2024

12,009

NET BOOK VALUE

At 31 December 2024

12,287

At 31 December 2023

7,593

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

65,000

Disposals

(65,000

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

65,000

6.

DEBTORS

31.12.24

31.12.23

£

£

Amounts falling due within one year:

Trade debtors

34,525

82,657

Amounts owed by group undertakings

67,875

32,376

Other debtors

33,800

58,282

136,200

173,315

Amounts falling due after more than one year:

Deferred tax asset

1,015

2,505

Aggregate amounts

137,215

175,820

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Deferred income

50,223

115,731

Trade creditors

7,877

26,804

Amounts owed to group undertakings

114,577

115,327

Taxation and social security

99,740

87,199

Other creditors

246,227

20,833

518,644

365,894

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed to group undertakings

-

91,515

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

The Report of the Auditors was unqualified.

Stephen Gardner (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A loan of £5000 was made to a director and is included in Other Debtors.

The loan is interest free and there are no fixed terms of repayment.

The loan was repaid in January 2025.

11.	RELATED PARTY DISCLOSURES

The company is a 92.67% subsidiary of Lisam Systems SA, of Rue Jean Jaures 5, 7190 Ecaussinnes, Belgium.

Software Licence Purchases include £937,845 from the parent company. (2023: £905,924) and Interest charges include £4,290 charged by parent company. (2023: £14482)

Debtors include £67,875 owed to the parent company. There are no fixed terms of repayment.(2023 £32,262)

Lisam Systems SA is a 100% subsidiary of Lisam EHS Software, of Rue Jean Jaures 5, 7190 Ecaussinnes, Belgium.

Creditors include £114,127 owed to Lisam EHS Software. (2023: £206,842) and £450 due to Lisam SA. Consultancy costs include £7,275 charges by Lisam EHS Software.

12.	ULTIMATE CONTROLLING COMPANY

The controlling company is Lisam Systems SA., a company registered in Belgium.

The ultimate controlling company is Lisam EHS Software, a company registered in Belgium.