Registration number: 03298450

Surface Systems Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

Surface Systems Limited

Company Information

Directors

Mr A P Murray Mr S J Eklund

Registered office

Unit 4 , The Stables Ford Road Totnes Industrial Estate Totnes Devon TQ9 5LE

Accountants

Redwoods Chartered Certified Accountants2 Clyst Works Clyst Road Topsham Exeter Devon EX3 0DB

Surface Systems Limited

(Registration number: 03298450)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	10,330	23,612
Current assets
Stocks	5	24,327	23,500
Debtors	6	94,094	118,246
Cash at bank and in hand		53,390	44,334
		171,811	186,080
Creditors: Amounts falling due within one year	7	(90,093)	(141,188)
Net current assets		81,718	44,892
Total assets less current liabilities		92,048	68,504
Creditors: Amounts falling due after more than one year	7	(2,500)	(12,500)
Provisions for liabilities		(2,582)	(5,903)
Net assets		86,966	50,101
Capital and reserves
Called up share capital	8	100	100
Retained earnings		86,866	50,001
Shareholders' funds		86,966	50,101

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 December 2025 and signed on its behalf by:
 

......................................... Mr S J Eklund Director

Surface Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 4 , The Stables
Ford Road
Totnes Industrial Estate
Totnes
Devon
TQ9 5LE

These financial statements were authorised for issue by the Board on 5 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are presented in £ Sterling and are rounded to the nearest £1

Going concern

Judgements

In the application of the company’s accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Surface Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% straight line
Office equipment	25% straight line
Motor vehicles	20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Surface Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Surface Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

Classification
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other accounts receivable and payable and loans from banks/other third parties.

 Recognition and measurement
Debt instruments like loans are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payable or receivables, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. In the case of a non current liability not at a market rate of interest, the financial liability is measured initially and subsequently at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows, discounted at the assets original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 9).

Surface Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	30,319	17,441	24,918	72,678
Additions	1,866	246	-	2,112
Disposals	(2,188)	(5,609)	(24,918)	(32,715)
At 31 March 2025	29,997	12,078	-	42,075
Depreciation
At 1 April 2024	20,059	12,254	16,753	49,066
Charge for the year	3,875	2,269	-	6,144
Eliminated on disposal	(1,103)	(5,609)	(16,753)	(23,465)
At 31 March 2025	22,831	8,914	-	31,745
Carrying amount
At 31 March 2025	7,166	3,164	-	10,330
At 31 March 2024	10,260	5,187	8,165	23,612

5

Stocks

	2025 £	2024 £
Other inventories	24,327	23,500

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		66,932	107,235
Amounts owed by related parties	9	9,564	-
Prepayments		3,735	3,252
Other debtors		13,863	7,759
		94,094	118,246

Surface Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		10,000	10,000
Trade creditors		34,214	29,368
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	-	47,548
Taxation and social security		42,237	44,549
Accruals and deferred income		1,850	1,550
Other creditors		1,792	8,173
		90,093	141,188

Creditors: amounts falling due after more than one year

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,500	12,500

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

Surface Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Related party transactions

Loans to related parties

2025	Parent £	Associates £	Total £
At start of period	-	1,399	1,399
Advanced	8,165	-	8,165
At end of period	8,165	1,399	9,564

2024	Associates £	Total £
Advanced	1,399	1,399
At end of period	1,399	1,399

Terms of loans to related parties

During the year the company provided loans to associated companies and the company's ultimate parent company APMD Holdings Ltd, At the year end the amount due from the companies was £9,564 (£1,399 - 2024). No interest has been charged on these loans.
 

Loans from related parties

2025	Parent £	Total £
At start of period	48,047	48,047
Repaid	(48,047)	(48,047)
At end of period	-	-

2024	Parent £	Total £
At start of period	47,747	47,747
Advanced	20,000	20,000
Repaid	(19,700)	(19,700)
At end of period	48,047	48,047

Terms of loans from related parties

During the year the company's ultimate parent company APMD Holdings Ltd, provided a loan to the company. At the year end the amount owed to the company was £nil (£48,047 - 2024). No interest has been charged on this loan.
 

10	Parent and ultimate parent undertaking

The company's immediate parent is APMD Holdings Limited, incorporated in England and Wales .

 The ultimate controlling party is Andrew Murray, 51% shareholder of APMD Holdings Limited.