Micro Systemation Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06783784

Micro Systemation Limited

Filleted Financial Statements

31 December 2024

Micro Systemation Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		–	31,787

Current assets

Debtors	6	415,539	558,078
Cash at bank and in hand		1,407,570	2,062,624
		------------	------------
		1,823,109	2,620,702

Creditors: amounts falling due within one year	7	1,346,373		1,683,122
		------------		------------
Net current assets			476,736	937,580
			---------	---------
Total assets less current liabilities			476,736	969,367
			---------	---------
Net assets			476,736	969,367
			---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	476,735	969,366
	---------	---------
Shareholders funds	476,736	969,367
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The director acknowledges his 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 were approved by the board of directors and authorised for issue on 5 September 2025 , and are signed on behalf of the board by:

P Gille
Director

Company registration number: 06783784

Micro Systemation Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13th Floor-North, The Blade, Abbey Square, Reading, Berkshire, RG1 3BE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. A product sale includes a license to use the company's software and some type of hardware. Hardware and software licenses are delivered immediately upon receipt of the customer order; these performance obligations are deemed to be satisfied at the time of delivery and revenue is recognised. The performance obligation regarding support and updates is forward-looking from the time of delivery and is fulfilled over time during the license period. The company's assessment is that this method is the most accurate for allocating the part of the transaction price that relates to future performance obligations.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 19 (2023: 21 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 January 2024	57,674	57,674
Disposals	( 57,674)	( 57,674)
	--------	--------
At 31 December 2024	–	–
	--------	--------
Depreciation
At 1 January 2024	25,887	25,887
Charge for the year	12,715	12,715
Disposals	( 38,602)	( 38,602)
	--------	--------
At 31 December 2024	–	–
	--------	--------
Carrying amount
At 31 December 2024	–	–
	--------	--------
At 31 December 2023	31,787	31,787
	--------	--------

6. Debtors

	2024	2023
	£	£
Trade debtors	358,547	522,478
Other debtors	56,992	35,600
	---------	---------
	415,539	558,078
	---------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	294,163	518,516
Corporation tax	37,414	93,086
Social security and other taxes	126,954	185,574
Other creditors	887,842	885,946
	------------	------------
	1,346,373	1,683,122
	------------	------------

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Later than 1 year and not later than 5 years	108,150	36,120
	---------	--------

9. Summary audit opinion

The auditor's report dated 8 September 2025 was unqualified .

The senior statutory auditor was Mr S Moustafa, BA (Hons), FCA , for and on behalf of Hurshens Limited .

10. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed. The company has taken advantage of the provision under Financial Reporting Standard 102 not to disclose transactions with its ultimate holding company by virtue of its 100% holding.

11. Controlling party

The company's ultimate immediate parent company is Micro Systemation AB , a company located in Hornsbruksgatan 28, 117 34 Stockholm, Sweden. However, day to day control is exercised Mr P Gille , who is the sole director of the company.