Silverfin false false 30/06/2025 01/07/2024 30/06/2025 A Baker 07/05/1997 A L Brent 01/12/2018 C T Craven 24/03/2025 11/03/1994 N R Dixon 20/07/2006 D W Pike 11/03/1994 K J Richards 30/06/2017 26 September 2025 The principal activity of the Company during the financial year was the sale and maintenance of computer hardware, software and accessories. 02370905 2025-06-30 02370905 bus:Director1 2025-06-30 02370905 bus:Director2 2025-06-30 02370905 bus:Director3 2025-06-30 02370905 bus:Director4 2025-06-30 02370905 bus:Director5 2025-06-30 02370905 bus:Director6 2025-06-30 02370905 2024-06-30 02370905 core:CurrentFinancialInstruments 2025-06-30 02370905 core:CurrentFinancialInstruments 2024-06-30 02370905 core:Non-currentFinancialInstruments 2025-06-30 02370905 core:Non-currentFinancialInstruments 2024-06-30 02370905 core:ShareCapital 2025-06-30 02370905 core:ShareCapital 2024-06-30 02370905 core:SharePremium 2025-06-30 02370905 core:SharePremium 2024-06-30 02370905 core:CapitalRedemptionReserve 2025-06-30 02370905 core:CapitalRedemptionReserve 2024-06-30 02370905 core:RetainedEarningsAccumulatedLosses 2025-06-30 02370905 core:RetainedEarningsAccumulatedLosses 2024-06-30 02370905 core:LeaseholdImprovements 2024-06-30 02370905 core:Vehicles 2024-06-30 02370905 core:FurnitureFittings 2024-06-30 02370905 core:ComputerEquipment 2024-06-30 02370905 core:LeaseholdImprovements 2025-06-30 02370905 core:Vehicles 2025-06-30 02370905 core:FurnitureFittings 2025-06-30 02370905 core:ComputerEquipment 2025-06-30 02370905 2024-07-01 2025-06-30 02370905 bus:FilletedAccounts 2024-07-01 2025-06-30 02370905 bus:SmallEntities 2024-07-01 2025-06-30 02370905 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-06-30 02370905 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 02370905 bus:Director1 2024-07-01 2025-06-30 02370905 bus:Director2 2024-07-01 2025-06-30 02370905 bus:Director3 2024-07-01 2025-06-30 02370905 bus:Director4 2024-07-01 2025-06-30 02370905 bus:Director5 2024-07-01 2025-06-30 02370905 bus:Director6 2024-07-01 2025-06-30 02370905 core:LeaseholdImprovements core:TopRangeValue 2024-07-01 2025-06-30 02370905 core:Vehicles core:TopRangeValue 2024-07-01 2025-06-30 02370905 core:FurnitureFittings core:TopRangeValue 2024-07-01 2025-06-30 02370905 core:ComputerEquipment 2024-07-01 2025-06-30 02370905 2023-07-01 2024-06-30 02370905 core:LeaseholdImprovements 2024-07-01 2025-06-30 02370905 core:Vehicles 2024-07-01 2025-06-30 02370905 core:FurnitureFittings 2024-07-01 2025-06-30 02370905 core:CurrentFinancialInstruments 2024-07-01 2025-06-30 02370905 core:Non-currentFinancialInstruments 2024-07-01 2025-06-30 iso4217:GBP xbrli:pure

Company No: 02370905 (England and Wales)

# SYSTEMS AXIS LIMITED

### Unaudited Financial Statements
For the financial year ended 30 June 2025
Pages for filing with the registrar

SYSTEMS AXIS LIMITED

## Unaudited Financial Statements

For the financial year ended 30 June 2025

Contents

SYSTEMS AXIS LIMITED

## BALANCE SHEET

As at 30 June 2025
SYSTEMS AXIS LIMITED

## BALANCE SHEET (continued)

As at 30 June 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 41,128 |  | 75,366
|  | 41,128 |  | 75,366
Current assets |  |  |  |
Stocks |  | 83,935 |  | 32,411
Debtors | 4 | 572,133 |  | 170,745
Cash at bank and in hand |  | 357,960 |  | 725,931
|  | 1,014,028 |  | 929,087
Creditors: amounts falling due within one year | 5 | ( 378,554) |  | ( 322,388)
Net current assets |  | 635,474 |  | 606,699
Total assets less current liabilities |  | 676,602 |  | 682,065
Creditors: amounts falling due after more than one year | 6 | ( 2,662) |  | ( 11,016)
Net assets |  | 673,940 |  | 671,049
Capital and reserves |  |  |  |
Called-up share capital |  | 58,824 |  | 58,824
Share premium account |  | 13,676 |  | 13,676
Capital redemption reserve |  | 100,000 |  | 100,000
Profit and loss account |  | 501,440 |  | 498,549
Total shareholder's funds |  | 673,940 |  | 671,049

For the financial year ending 30 June 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Systems Axis Limited (registered number: 02370905) were approved and authorised for issue by the Board of Directors on 26 September 2025. They were signed on its behalf by:

D W Pike Director |

SYSTEMS AXIS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025
SYSTEMS AXIS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Systems Axis Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 53/55 St Mary Street, Bridgwater, Somerset, TA6 3EQ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Foreign currency

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

##### Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
Revenue is recognised when goods are despatched or services are provided. Revenue received under annual maintenance contracts is spread evenly across the period covered by those contracts.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 10 years straight line
Vehicles | 4 years straight line
Fixtures and fittings | 4 years straight line
Computer equipment | 33.33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Assets held under hire purchase agreements are capitalised as tangible fixed assets with the future obligation being recognised as a liability. Finance costs are recognised in the Profit and Loss Account calculated at a constant periodic rate of interest over the term of the liability.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### Reserves

Share premium reserve includes any premiums received on the issue of share capital. Transaction costs associated with the issuing of shares are deducted from the share premium.
Capital redemption reserve records the nominal value of shares repurchased by the company

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 38 |  | 43

#### 3. Tangible assets

| Leasehold improve- ments |  | Vehicles |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 July 2024 | 60,580 |  | 162,573 |  | 10,195 |  | 275,851 |  | 509,199
Additions | 0 |  | 0 |  | 0 |  | 8,674 |  | 8,674
Disposals | 0 |  | ( 49,579) |  | 0 |  | ( 16,800) |  | ( 66,379)
At 30 June 2025 | 60,580 |  | 112,994 |  | 10,195 |  | 267,725 |  | 451,494
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 July 2024 | 48,464 |  | 134,820 |  | 7,957 |  | 242,592 |  | 433,833
Charge for the financial year | 6,058 |  | 12,477 |  | 700 |  | 22,551 |  | 41,786
Disposals | 0 |  | ( 48,967) |  | 0 |  | ( 16,286) |  | ( 65,253)
At 30 June 2025 | 54,522 |  | 98,330 |  | 8,657 |  | 248,857 |  | 410,366
Net book value |  |  |  |  |  |  |  |  |
At 30 June 2025 | 6,058 |  | 14,664 |  | 1,538 |  | 18,868 |  | 41,128
At 30 June 2024 | 12,116 |  | 27,753 |  | 2,238 |  | 33,259 |  | 75,366

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 149,315 |  | 149,142
Other debtors | 422,818 |  | 21,603
| 572,133 |  | 170,745

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 115,045 |  | 77,110
Taxation and social security | 145,597 |  | 165,468
Obligations under finance leases and hire purchase contracts | 8,102 |  | 7,347
Other creditors | 109,810 |  | 72,463
| 378,554 |  | 322,388

Net obligations under finance lease and hire purchase contracts are secured against the assets to which they relate

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Obligations under finance leases and hire purchase contracts (secured) | 2,662 |  | 11,016

Net obligations under finance lease and hire purchase contracts are secured against the assets to which they relate

#### 7. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 July 2023, the balance owed by N Dixon was £9,956. During the year, £nil was advanced to the director, and £9,956 was repaid by the director. At 30 June 2024, the balance owed by the director was £nil.