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Company No: 05014752 (England and Wales)

# STRING COMPUTER SYSTEMS LTD

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

STRING COMPUTER SYSTEMS LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

STRING COMPUTER SYSTEMS LTD

## BALANCE SHEET

As at 31 December 2025
STRING COMPUTER SYSTEMS LTD

## BALANCE SHEET (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 8,936 |  | 13,884
|  | 8,936 |  | 13,884
Current assets |  |  |  |
Stocks | 4 | 6,380 |  | 6,229
Debtors | 5 | 306,725 |  | 205,989
Cash at bank and in hand |  | 83,536 |  | 216,220
|  | 396,641 |  | 428,438
Creditors: amounts falling due within one year | 6 | ( 294,775) |  | ( 289,357)
Net current assets |  | 101,866 |  | 139,081
Total assets less current liabilities |  | 110,802 |  | 152,965
Creditors: amounts falling due after more than one year | 7 | 0 |  | ( 9,138)
Provision for liabilities |  | ( 1,492) |  | ( 2,600)
Net assets |  | 109,310 |  | 141,227
Capital and reserves |  |  |  |
Called-up share capital |  | 1,015 |  | 1,015
Share premium account |  | 9,510 |  | 9,510
Profit and loss account |  | 98,785 |  | 130,702
Total shareholders' funds |  | 109,310 |  | 141,227

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

Directors' responsibilities:

- The members have 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 String Computer Systems Ltd (registered number: 05014752) were approved and authorised for issue by the Board of Directors on 06 July 2026. They were signed on its behalf by:

S M Pickering Director |

STRING COMPUTER SYSTEMS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
STRING COMPUTER SYSTEMS LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 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

String Computer Systems Ltd (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 4B Edward V11 Quay, Navigation Way, Preston, Lancashire, PR2 2YF, 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 Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Turnover

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:
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.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### 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 current 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.

##### 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:

Vehicles | 25 % reducing balance
Office equipment | 3 - 5 years straight line
Computer equipment | 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### 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 creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

##### Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 22 |  | 22

#### 3. Tangible assets

| Vehicles |  | Office equipment |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 January 2025 | 9,800 |  | 10,022 |  | 15,970 |  | 35,792
Additions | 0 |  | 5,962 |  | 288 |  | 6,250
Disposals | ( 9,800) |  | ( 416) |  | 0 |  | ( 10,216)
At 31 December 2025 | 0 |  | 15,568 |  | 16,258 |  | 31,826
Accumulated depreciation |  |  |  |  |  |  |
At 01 January 2025 | 4,401 |  | 5,516 |  | 11,991 |  | 21,908
Charge for the financial year | 1,237 |  | 3,093 |  | 2,706 |  | 7,036
Disposals | ( 5,638) |  | ( 416) |  | 0 |  | ( 6,054)
At 31 December 2025 | 0 |  | 8,193 |  | 14,697 |  | 22,890
Net book value |  |  |  |  |  |  |
At 31 December 2025 | 0 |  | 7,375 |  | 1,561 |  | 8,936
At 31 December 2024 | 5,399 |  | 4,506 |  | 3,979 |  | 13,884

#### 4. Stocks

| 2025 |  | 2024
| £ |  | £
Stocks | 3,879 |  | 4,413
Work in progress | 2,501 |  | 1,816
| 6,380 |  | 6,229

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 256,233 |  | 154,234
Amounts owed by Group undertakings | 0 |  | 6,382
Amounts owed by directors | 4,848 |  | 15,742
Prepayments and accrued income | 45,644 |  | 29,618
Other debtors | 0 |  | 13
| 306,725 |  | 205,989

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 9,167 |  | 10,029
Trade creditors | 99,555 |  | 108,981
Amounts owed to Group undertakings | 55,611 |  | 54,663
Amounts owed to directors | 20,287 |  | 11,092
Accruals | 7,812 |  | 5,092
Taxation and social security | 77,849 |  | 68,458
Other creditors | 24,494 |  | 31,042
| 294,775 |  | 289,357

Bank loans represent a government backed bank loan. The loan attracts interest at 2.5% per annum, is repayable over a 6 year term. This is secured over the assets of the company.

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 0 |  | 9,138

Bank loans represent a government backed bank loan. The loan attracts interest at 2.5% per annum, is repayable over a 6 year term. This is secured over the assets of the company.

#### 8. Financial commitments

Other financial commitments

| 2025 |  | 2024
| £ |  | £
Within one year | 61,204 |  | 54,099
Between one and five years | 203,256 |  | 192,073
Between five and ten years | 189,244 |  | 236,555
| 453,704 |  | 482,727

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

| 2025 |  | 2024
| £ |  | £
Unpaid contributions due to the fund (inc. in other creditors) | 2,970 |  | 2,551

#### 9. Related party transactions

Transactions with the entity's directors

During the year a director was advanced £26,257 (2024: £53,680 ) by the company and repaid £37,151 (2024: £37,938). At the year end amounts owing to the company from the director amounted to £4,848 (2024: £15,742). The maximum outstanding in the year was £25,323 (2024: £31,742).

#### 10. Ultimate controlling party

The ultimate parent company is String Holdings Ltd, a company registered in England and Wales, company number 08913094, which owns 98.5% of the called up share capital.
The ultimate controlling party is Mr S M Pickering, a director, by virtue of his majority shareholding in String Holdings Ltd.