Company No: 02320138 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	1		1
Investment property	4	300,000		300,000
Investments	5	452,738		506,398
		752,739		806,399
Current assets
Debtors		2		10,000
Cash at bank and in hand		273,080		320,840
		273,082		330,840
Creditors: amounts falling due within one year	6	( 487,423)		( 58,642)
Net current (liabilities)/assets		(214,341)		272,198
Total assets less current liabilities		538,398		1,078,597
Creditors: amounts falling due after more than one year	7	( 25,100)		( 25,100)
Provision for liabilities		( 13,756)		( 19,983)
Net assets		499,542		1,033,514
Capital and reserves
Called-up share capital		46		84
Capital redemption reserve		56		16
Undistributable reserve		43,969		138,156
Profit and loss account		455,471		895,258
Total shareholders' funds		499,542		1,033,514

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 members have 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 Technologies Limited (registered number: 02320138) 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

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 Technologies 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 the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date.

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 other creditors or other debtors 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.

Other operating income

Other operating income includes rent receivable and is measured at the fair value of consideration received or receivable. Rental income is recognised over the period in which the rent relates.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences

not amortised

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Capital redemption reserve

The capital redemption reserve has arisen through company purchase of own shares.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Intangible assets

	Trademarks, patents and licences		Total
	£		£
Cost
At 01 July 2024	1		1
At 30 June 2025	1		1
Accumulated amortisation
At 01 July 2024	0		0
At 30 June 2025	0		0
Net book value
At 30 June 2025	1		1
At 30 June 2024	1		1

4. Investment property

	Investment property
	£
Valuation
As at 01 July 2024	300,000
As at 30 June 2025	300,000

Valuation

The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £300,000 (2024 - £300,000).

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	235,000		235,000

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 July 2024	452,738
At 30 June 2025	452,738
Carrying value at 30 June 2025	452,738
Carrying value at 30 June 2024	452,738

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 July 2024	53,660		53,660
Disposals	( 53,660)		( 53,660)
At 30 June 2025	0		0
Carrying value at 30 June 2025	0		0
Carrying value at 30 June 2024	53,660		53,660

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to Group undertakings	400,000		0
Taxation and social security	77,213		54,221
Other creditors	10,210		4,421
	487,423		58,642

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Amounts owed to Group undertakings	25,100		25,100

8. 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 2024, the balance owed by C T Craven was £10,000. During the year, £nil was advanced to the director, and £10,000 was repaid by the director. At 30 June 2025, the balance owed by the director was £nil.

At 1 July 2023, the balance owed by C T Craven was £10,000. During the year, £nil was advanced to the director, and £nil was repaid by the director. At 30 June 2024, the balance owed by the director was £10,000.