Reform Systems Ltd - Filleted accounts

Registered number

09060666

Reform Systems Ltd

Filleted Accounts

31 March 2025

Reform Systems Ltd
Registered number:		09060666
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Intangible assets	3		45,762			33,859

Current assets
Debtors	5	48,521			56,498
Cash at bank and in hand		3,063			3,106
		51,584			59,604

Creditors: amounts falling due within one year	6	(483,716)			(503,341)

Net current liabilities			(432,132)			(443,737)

Total assets less current liabilities			(386,370)			(409,878)

Creditors: amounts falling due after more than one year	7		(213,352)			(112,866)



Net liabilities			(599,722)			(522,744)

Capital and reserves
Called up share capital			100			100
Profit and loss account			(599,822)			(522,844)

Shareholders' funds			(599,722)			(522,744)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Colin Hibbs
Director
Approved by the board on 30 December 2025

Reform Systems Ltd
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going concern
	The accounts have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The director considers this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings, computer and office equipment			3 years straight line

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					1		1


3	Intangible fixed assets							£
	Patents:

	Cost
	At 1 April 2024							33,859
	Additions							11,903
	At 31 March 2025							45,762

	Amortisation
	At 31 March 2025							-

	Net book value
	At 31 March 2025							45,762
	At 31 March 2024							33,859

	Once granted, patents will be written off in equal annual instalments over their estimated economic life of 20 years.


4	Tangible fixed assets
								Computer and office equipment
£
	Cost
	At 1 April 2024							6,715
	At 31 March 2025							6,715

	Depreciation
	At 1 April 2024							6,715
	At 31 March 2025							6,715

	Net book value
	At 31 March 2025							-


5	Debtors					2025		2024
£							£

	Trade debtors					11,364		14,899
	Other debtors					37,157		41,599
						48,521		56,498


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					5,000		5,000
	VAT					(523)		(53)
	Trade creditors					9,094		15,020
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					448,598		448,598
	Taxation and social security costs					4,067		15,171
	Loans					16,480		16,480
	Other creditors					1,000		3,125
						483,716		503,341


7	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					23,949		29,463
	Loans					189,403		83,403
						213,352		112,866


8	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Colin Hibbs
	[Loan 1]	36,361		5,100		(9,542)		31,919

		36,361		5,100		(9,542)		31,919


9	Controlling party

	The company is controlled by Essendon Nominee Ltd by virtue of its majority shareholding.


10	Other information

	Reform Systems Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Essendon Country Club
	Bedwell Park
	Essendon, Hatfield
	Herts
	AL9 6HN