System Eye LLP - Filleted accounts

Registered number

SO301623

System Eye LLP

Filleted Accounts

31 March 2025

System Eye LLP
Registered number:		SO301623
Balance Sheet
as at 31 March 2025
Notes		2025		2023
£			£
Fixed assets
Tangible assets	2	4,087		1,009
Current assets
Debtors	3	7,452		16,262
Cash at bank		17,332		11,539
		24,784		27,801

Creditors: amounts falling due within one year	4	(6,579)		(4,549)

Net current assets		18,205		23,252

Total assets less current liabilities		22,292		24,261



Net assets attributable to members		22,292		24,261

Represented by:
Loans and other debts due to members	5	22,292		24,261


		22,292		24,261

Total members' interests
Loans and other debts due to members	5	22,292		24,261

		22,292		24,261

Number of Employees		-		-

For the period ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs).
The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies.

These accounts were approved by the members on 15 September 2025 and signed on their behalf by:


H Davis
Designated member

System Eye LLP
Notes to the Accounts
for the period from 1 December 2023 to 31 March 2025

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Division of profits
	Profits are treated as being available for discretionary division only if the LLP has an unconditional right to refuse payment of the profits of a particular year unless and until the members agree to divide them. Profits are otherwise automatically divided and included under Members’ remuneration charged as an expense in the profit and loss account.

	Taxation
	Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, tools and equipment	20% on reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Members' capital
	Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional.


2	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 December 2023				2,163
	Additions				4,100
	At 31 March 2025				6,263

	Depreciation
	At 1 December 2023				1,154
	Charge for the period				1,022
	At 31 March 2025				2,176

	Net book value
	At 31 March 2025				4,087
	At 30 November 2023				1,009


3	Debtors		2025		2023
£				£

	Trade debtors		7,452		16,262


4	Creditors: amounts falling due within one year		2025		2023
£				£

	Other taxes and social security costs		6,094		4,064
	Other creditors		485		485
			6,579		4,549


5	Loans and other debts due to members		2025		2023
£				£

	Amounts due to members in respect of profits		22,292		24,261

	Amounts falling due within one year		22,292		24,261

	Loans and other debts due to members rank equally with debts due to ordinary creditors in a winding up.


6	Other information

	System Eye LLP is a limited liability partnership incorporated in Scotland. Its registered office is:
	C/O McLaughlin Crolla Llp
	77/2 Hanover Street
	Edinburgh
	EH2 1EE