Company registration number 05676210 (England and Wales)
SYS8 TRADE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
One Bell Lane
Lewes
East Sussex
BN7 1JU
SYS8 TRADE LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
SYS8 TRADE LIMITED
COMPANY INFORMATION
- 1 -
Director
Ms Eva de Almeida
Company number
05676210
Registered office
Carpenter Court 1 Maple Road
Bramhall
Stockport
Cheshire
SK7 2DH
Accountants
TC Group
One Bell Lane
Lewes
East Sussex
BN7 1JU
SYS8 TRADE LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
47,369
75,246
Current assets
Debtors
4
244,202
184,019
Cash at bank and in hand
6,296
2,139
250,498
186,158
Creditors: amounts falling due within one year
5
(5,670,279)
(5,514,569)
Net current liabilities
(5,419,781)
(5,328,411)
Net liabilities
(5,372,412)
(5,253,165)
Capital and reserves
Called up share capital
6
15,300
15,300
Profit and loss reserves
(5,387,712)
(5,268,465)
Total equity
(5,372,412)
(5,253,165)
SYS8 TRADE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 3 -

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 25 May 2026
Ms Eva de Almeida
Director
Company registration number 05676210 (England and Wales)
SYS8 TRADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
1
Accounting policies
Company information

SYS8 Trade Limited is a private company limited by shares incorporated in England and Wales. The registered office is Carpenter Court 1 Maple Road, Bramhall, Stockport, Cheshire, SK7 2DH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he company continues to meet its day to day working capital requirements through loans from its associated group companies. The company has received a letter for the continued support from group companies. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% straight line basis
Motor vehicles
25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

SYS8 TRADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

SYS8 TRADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 6 -
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
SYS8 TRADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
3
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 June 2023 and 31 May 2024
17,275
100,668
117,943
Depreciation and impairment
At 1 June 2023
13,335
29,362
42,697
Depreciation charged in the year
2,710
25,167
27,877
At 31 May 2024
16,045
54,529
70,574
Carrying amount
At 31 May 2024
1,230
46,139
47,369
At 31 May 2023
3,940
71,306
75,246
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
68,819
57,107
Amounts owed by group undertakings
82,259
83,005
Other debtors
93,124
43,907
244,202
184,019
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
42,210
48,199
Amounts owed to group undertakings
5,592,605
5,445,018
Corporation tax
18,069
6,358
Other taxation and social security
8,636
8,636
Other creditors
8,759
6,358
5,670,279
5,514,569
SYS8 TRADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 8 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £15 each
1,020
1,020
15,300
15,300
7
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

At the reporting date, the amount outstanding to the ultimate controlling shareholder for the group was £44,642 this amount is included within other debtors. Within the financial year there were advances of £36,288 and repayments of £11,190. Interest has been charged on the loan at a commercial rate of interest leading to £706 of interest being recognised in the profit and loss.

The loan is repayable on demand.

2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
5,592,605
5,445,018

Amounts due to group undertakings are interest free and repayable on demand. There are no transactions with these related parties other than the advances.

The following amounts were outstanding at the reporting end date:

2024
2023
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
82,259
83,005

Amounts due from group undertakings are interest free and repayable on demand. There are no transactions with these related parties other than this amount.

SYS8 TRADE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 9 -
8
Directors' transactions

The loan is repayable on demand.

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director Loan
2.25
18,972
28,760
692
(5,164)
43,260
18,972
28,760
692
(5,164)
43,260
9
Parent company

The parent company of SYS8 Trade Limited is SYS8 Holdings Limited and is registered in England and Wales. The ultimate controlling entity is Sensitlive Limited and is registered in England and Wales.

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