REGISTERED NUMBER: 01625982 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Sysnet Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Lincez

R Davey

S Hunt

SECRETARY:

S Hunt

REGISTERED OFFICE:

Avon Court

Cowbridge Road

Bridgend

Mid Glamorgan

CF31 3SR

REGISTERED NUMBER:

01625982 (England and Wales)

ACCOUNTANTS:

Guilfoyle Sage LLP

21 Gold Tops

Newport

South Wales

NP20 4PG

FIXED ASSETS

Tangible assets

5

1

1

CURRENT ASSETS

Debtors

6

46,864

40,260

Cash at bank and in hand

19,949

31,308

66,813

71,568

CREDITORS

Amounts falling due within one year

7

35,969

43,206

NET CURRENT ASSETS

30,844

28,362

TOTAL ASSETS LESS CURRENT LIABILITIES

30,845

28,363

CAPITAL AND RESERVES

Called up share capital

8

59,011

59,011

Capital redemption reserve

10,000

10,000

Retained earnings

(38,166

)

(40,648

)

SHAREHOLDERS' FUNDS

30,845

28,363

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

S Hunt - Director

1.	STATUTORY INFORMATION

Sysnet Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Basis of accounting

The financial statements have been prepared on the going concern basis as the directors believe that the company will be able to obtain sufficient funding to secure the continued financing of the company's activities for the foreseeable future.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

29,707

DEPRECIATION

At 1 April 2024

and 31 March 2025

29,706

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

46,864

40,137

Other debtors

-

123

46,864

40,260

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Taxation and social security

16,093

16,350

Other creditors

19,876

26,856

35,969

43,206

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

11

Ordinary

£1

11

11

29,000

10% Preference

£1

30,000

30,000

30,000

8% Preference

£1

29,000

29,000

59,011

59,011

50,000 8% Cumulative Redeemable Preference shares of £1 each were issued in 1996 to provide working capital for the company.

Interest of 8% will be payable per annum, in arrears, on the anniversary of the date of issue of these shares, subject to the company having sufficient reserves.

The shares will be redeemed at par in equal annual amounts over 10 years on the anniversary of the date of issue, subject to the company having sufficient reserves.