ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 08445912

PYC SYSTEMS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

PYC SYSTEMS LIMITED

REGISTERED NUMBER: 08445912

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£


Current assets
Stocks	5	35,768		25,990
Debtors: amounts falling due within one year	6	71,598		77,943
Cash at bank and in hand	7	14,267		19,455
		121,633		123,388
Creditors: amounts falling due within one year	8	(65,789)		(55,485)
Net current assets			55,844		67,903
Total assets less current liabilities			55,844		67,903
Creditors: amounts falling due after more than one year	9		(2,310)		(12,350)

Net assets			53,534		55,553

Capital and reserves
Called up share capital	1	1
Profit and loss account	53,533	55,552
	53,534	55,553

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PYC SYSTEMS LIMITED

REGISTERED NUMBER: 08445912

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

J G Meade

Director

Date: 4 June 2026

The notes on pages 3 to 7 form part of these financial statements.

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PYC SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

PYC Systems Limited, 08445912, is a private limited company, limited by shares, incorporated in England and Wales, with its registered office address and principle place at The House Building Factory Buttington Cross Enterprise Park, Buttington, Welshpool, Powys, Wales, SY21 8SL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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PYC SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery

25%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

PYC SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.9

Creditors

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

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

4.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 January 2025	709
	At 31 December 2025	709
	Depreciation
	At 1 January 2025	709
	At 31 December 2025	709
	Net book value
	At 31 December 2025	-
	At 31 December 2024	-

5.	Stocks
		2025	2024
		£	£

Finished goods and goods for resale	35,768	25,990
	35,768	25,990

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PYC SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Debtors

					2025	2024
					£	£


Trade debtors	21,684	21,605
Amounts owed by group undertakings	49,628	56,105
Called up share capital not paid	1	1
Prepayments and accrued income	285	232
	71,598	77,943

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	14,267	19,455
	14,267	19,455

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	3,000	-
Trade creditors	8,553	2,339
Amounts owed to group undertakings	25,874	25,874
Other taxation and social security	28,362	27,272
	65,789	55,485

9.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	-	10,200
Accruals and deferred income	2,310	2,150
	2,310	12,350

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PYC SYSTEMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Amounts falling due within one year
Bank loans	3,000	-
	3,000	-
Amounts falling due 1-2 years
Bank loans	-	10,200
	-	10,200


	3,000	10,200

11.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary share of £1.00	1	1

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