REGISTERED NUMBER: 03306634 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 SEPTEMBER 2024

FOR

SYSTEMSHARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M J Barrett

REGISTERED OFFICE:

Brookside Business Park

Brookside Park Uttoxeter

Staffordshire

ST14 8AT

REGISTERED NUMBER:

03306634 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Black Country House

Rounds Green Road

Oldbury

West Midlands

B69 2DG

FIXED ASSETS

Investment property

4

1,800,000

2,856,534

CURRENT ASSETS

Debtors

5

528,992

736,837

Cash at bank

4,837

4,882

533,829

741,719

CREDITORS

Amounts falling due within one year

6

3,258,944

3,015,954

NET CURRENT LIABILITIES

(2,725,115

)

(2,274,235

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(925,115

)

582,299

CAPITAL AND RESERVES

Called up share capital

1

1

Revaluation reserve

-

201,102

Retained earnings

(925,116

)

381,196

(925,115

)

582,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 director and authorised for issue on 24 September 2025 and were signed by:

M J Barrett - Director

1.	STATUTORY INFORMATION

Systemshare Limited is a private company limited by shares (registered number 03306634), which is incorporated in the UK. The trading address and registered office is Brookland Business Park, Uttoxeter, Staffordshire, ST14 8AT.

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 as modified by the revaluation of certain assets.

Turnover

Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised at the point of dispatch or when the services are provided.

Rental income is recognised in the period to which it relates.

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings.

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.

Going concern

Due to cross guarantees throughout the Group, going concern of the Company is dependent on the performance of the Group overall. After reviewing the Group's forecast and projections for the next 12 months, the Directors are confident that the Group has adequate resources to continue for the foreseeable future. The Group therefore continues to adopt the going concern basis in preparing its financial statements. The Groups has external financing facilities for growth and development purposes. The Group’s strategy and projections continue to include the realisation of various none core assets over the next 12 to 18 months to reduce bank debt, provide additional working capital and fund profitable development opportunities.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

Fair value

At 29 September 2023

2,856,534

Additions

8,997

Revaluations

(1,065,531

)

At 28 September 2024

1,800,000

Net book value

At 28 September 2024

1,800,000

At 28 September 2023

2,856,534

The historic cost of the land and buildings is £2,664,429 (2023: £2,655,432). Investment properties were revalued by the director on an open market basis on 28 September 2024.

A property worth £1,200,000 was revalued during the year to sales price per the completion statement post year end. The director's valuation on the remaining property is not inconsistent with formal valuations undertaken by Savills in July 2017 and December 2016.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

17,876

19,696

Amounts owed by group undertakings

464,277

402,556

Amounts owed by participating interests

-

258,167

Other debtors

46,839

56,418

528,992

736,837

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

80,311

17,669

Amounts owed to group undertakings

3,141,510

2,976,801

Taxation and social security

2,294

3,370

Other creditors

34,829

18,114

3,258,944

3,015,954

7.	ULTIMATE CONTROLLING PARTY

The Company's parent undertaking at the Balance sheet date was M J Barrett Group Limited, a Company incorporated in England and Wales. Copies of these financial statements are available from the Company's registered office, Brookside Business Park, Uttoxeter, ST14 8AT.

The Company is controlled by M J Barrett who owns 100% of the issued share capital of M J Barrett Group Limited.