Company No: 01941071 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	C T Baxter (Resigned 28 October 2024)
	J S E Harrington (Resigned 28 October 2024)
	G C A Rockell (Appointed 28 October 2024)
	B Seymour (Appointed 28 October 2024)

REGISTERED OFFICE	The Three Pines
	Church Road
	Penn
	Buckinghamshire
	HP10 8EG
	United Kingdom

COMPANY NUMBER

01941071 (England and Wales)

ACCOUNTANT	S&W Partners (Thames Valley) Limited
	22 Wycombe End
	Beaconsfield
	Buckinghamshire
	HP9 1NB

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	41,055		86,867
		41,055		86,867
Current assets
Debtors	4	43,983		27,639
Cash at bank and in hand		314,745		290,888
		358,728		318,527
Creditors: amounts falling due within one year	5	( 204,136)		( 143,596)
Net current assets		154,592		174,931
Total assets less current liabilities		195,647		261,798
Provision for liabilities		( 10,264)		( 13,183)
Net assets		185,383		248,615
Capital and reserves
Called-up share capital	6	80		80
Capital redemption reserve		40		40
Profit and loss account		185,263		248,495
Total shareholder's funds		185,383		248,615

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Terence James Systems Limited (registered number: 01941071) were approved and authorised for issue by the Board of Directors on 13 April 2026. They were signed on its behalf by:

G C A Rockell Director

B Seymour 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

Terence James Systems 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 The Three Pines, Church Road, Penn, Buckinghamshire, HP10 8EG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Terence James Systems Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the sale of goods and the rendering of services in the normal course of business, and is shown net of discounts and VAT.

Turnover arises from the sale of computer software and supply of support services. Turnover is recognised by reference to the period in which the fees relate.

Operating lease income from property is recognised in profit and loss on a straight-line basis over the lease term.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings 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 accruals or prepayments 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.

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 average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	25 years straight line
Plant and machinery	5 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	5 years straight line

Leases

The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Financial instruments

The company has elected to apply the provisions of Section 11 ”Basic Financial Instruments” to all of its financial instruments.

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

Basic financial assets
Short term debtors are measured at transaction price less any provision for impairment. Loans receivable are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method, less any provision for impairment.

Basic financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are measured initially at fair value, net of transaction costs and are subsequently carried at amortised costs using the effective interest method.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Deferred income

Licence fees received are included in turnover in the period to which the licence relates. Initial licence fees are credited to turnover over a period of five years, with 30% recognised in the first year and 17.5% in each of the following four years. Annual licence fees are credited to turnover over a period of twelve months.

Research and Development

Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	10		10

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 September 2024	240,799		2,873		116,800		90,907		451,379
Additions	0		0		0		1,440		1,440
Disposals	( 240,799)		0		0		( 45,199)		( 285,998)
At 31 August 2025	0		2,873		116,800		47,148		166,821
Accumulated depreciation
At 01 September 2024	208,100		2,214		67,525		86,673		364,512
Charge for the financial year	0		659		12,319		1,575		14,553
Disposals	( 208,100)		0		0		( 45,199)		( 253,299)
At 31 August 2025	0		2,873		79,844		43,049		125,766
Net book value
At 31 August 2025	0		0		36,956		4,099		41,055
At 31 August 2024	32,699		659		49,275		4,234		86,867

4. Debtors

	2025		2024
	£		£
Trade debtors	43,514		24,623
Other debtors	469		3,016
	43,983		27,639

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,793		227
Taxation and social security	115,043		56,109
Other creditors	87,300		87,260
	204,136		143,596

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
80 Ordinary shares of £ 1.00 each	80		80

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	13,155		0

8. Related party transactions

Transactions with the entity's directors

At the balance sheet date, the company owed the directors £3,108 (2024 - £1,560) in respect of interest free loans made to the company.

9. Ultimate controlling party

Parent Company:

Rockell Seymour Limited

The Three Pines, Church Road, Penn, HP10 8EG

From 28th October 2024, the company was a wholly owned subsidiary of Rockell Seymour Limited