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Registered number: 07699239
Sistem Technology Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07699239
2025 2024
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 12,863 17,151
Tangible Assets 5 4,598 6,077
17,461 23,228
CURRENT ASSETS
Stocks 6 48,370 51,580
Debtors 7 988,779 824,359
Cash at bank and in hand 495,662 117,454
1,532,811 993,393
Creditors: Amounts Falling Due Within One Year 8 (1,497,479 ) (1,185,938 )
NET CURRENT ASSETS (LIABILITIES) 35,332 (192,545 )
TOTAL ASSETS LESS CURRENT LIABILITIES 52,793 (169,317 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,434 ) (1,434 )
NET ASSETS/(LIABILITIES) 51,359 (170,751 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 51,259 (170,851 )
SHAREHOLDERS' FUNDS 51,359 (170,751)
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For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Ridge
Director
19 November 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Sistem Technology Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07699239 . The registered office is Suite 3 Innovation Centre, Silverstone Technology Park, Silverstone, Northamptonshire, NN12 8GX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets is a website. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 33% Straight Line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2024: 8)
9 8
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2024 137,052 21,439 158,491
As at 31 March 2025 137,052 21,439 158,491
Amortisation
As at 1 April 2024 137,052 4,288 141,340
Provided during the period - 4,288 4,288
As at 31 March 2025 137,052 8,576 145,628
Net Book Value
As at 31 March 2025 - 12,863 12,863
As at 1 April 2024 - 17,151 17,151
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 8,557 13,981 22,538
Additions 113 1,117 1,230
As at 31 March 2025 8,670 15,098 23,768
...CONTINUED
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Depreciation
As at 1 April 2024 4,694 11,767 16,461
Provided during the period 966 1,743 2,709
As at 31 March 2025 5,660 13,510 19,170
Net Book Value
As at 31 March 2025 3,010 1,588 4,598
As at 1 April 2024 3,863 2,214 6,077
6. Stocks
2025 2024
as restated
£ £
Stock 48,370 51,580
7. Debtors
2025 2024
as restated
£ £
Due within one year
Trade debtors 596,985 711,483
Other debtors 391,794 112,876
988,779 824,359
8. Creditors: Amounts Falling Due Within One Year
2025 2024
as restated
£ £
Trade creditors 1,122,231 1,019,927
Other loans - 47,075
Other creditors 354,300 218,372
Taxation and social security 20,948 (99,436 )
1,497,479 1,185,938
9. Share Capital
2025 2024
as restated
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Christopher Ridge 25,731 90,459 25,731 - 90,459
Mrs Wendy Ridge 25,731 90,459 25,731 - 90,459
The above loan is unsecured, interest free and repayable on demand.
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