Registration number:
Symmetry Limited
for the Year Ended 28 February 2026
Symmetry Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Statement of Directors' Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Symmetry Limited
Company Information
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Directors |
S Kearsley R Swan S R Smith S A Wilkins L Allison |
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Registered office |
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Auditors |
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Symmetry Limited
Strategic Report for the year ended 28 February 2026
Principal activity
The principal activity of the company is business and accounting software providers.
Fair review of the business
Symmetry has been in business since 1996 when it was formed as a management buyout from Oracle UK. In a market that has been becoming more commoditised over the years our approach has been to focus on a brand led, service-based approach.
The focus for the brand led approach is our product "bluQube".
bluQube is a highly configurable financial accounting system aimed at medium sized businesses. As a company we feel that it is a supplier's responsibility to provide systems like bluQube in such a way that they can be implemented quickly and simply by the customer to provide benefits to their business as quickly as possible.
Principal risks and uncertainties
Products and business streams
As financial accounting systems were developing over the last 30 years they tended to take one of two routes. Either to be integrated into a full "ERP" system or to specialise in the core accounting functionality ("best of breed"). Both routes have pros and cons but bluQube took the latter route which it is now becoming clear was the better strategy.
What has changed the environment massively is the growth in Cloud based systems (bluQube was one of the first) and "interoperability" that has been delivered by APls and web services. This means that a customer can now buy the finance system that best suits them and yet still expect it to work with their other systems without the need to become tied into one supplier and compromise on functionality.
Our experience over the years has been that these products typically have a major lifecycle of approximately 15 years. The underlying database technology (Oracle) is still the best available and our choice of development tools enable us to build software with a look and feel that matches user expectations set by the use of web-based applications.
Our current product (bluQube 4) was built before the COVID pandemic and was delivered on time without the need for external borrowing and with only minor use of cash reserves. We continue to invest in developing and improving our products.
The user interface alongside our approach to business has been very positive with our existing customers and this has allowed us to accelerate our reference site programme which will ultimately enhance our new business performance.
bluQube can be implemented either as a Cloud based product or an On-Premise product. Our customer base is now almost completely Cloud based using a software "rental" model which means that Symmetry's income streams are now over three quarters based on renewable revenues.
Markets
In the past Symmetry's traditional markets were the UK Further and Higher Education sectors.
Symmetry Limited
Over the years these markets have been reduced in size by government reducing funding levels and encouraging consolidation through a programme of mergers. This has resulted in the number of organisations being more than halved. Our customer retention has meant that the reduction in base has been proportionately less than in the market overall and the institutions within our customer base are now larger in size.
The reduction also happened at a time when our recurring revenues were increasing as a result of the move to Cloud by most of our base.
We have known for some time that the future for Symmetry must be based on an expansion into other market sectors. This was also one of the driving forces behind the launch product redevelopment.
In this respect we have had success and now have customers in the financial leasing sector, the telecoms sector, the charities sector, the retail sector, the transport sector and the marine industry sector.
Our expansion into other markets hasn’t diminished our appeal to our traditional markets who continue to approach Symmetry due to it’s strong reputation for customer service and it’s award winning software.
Financial approach
In some ways our financial strategy has been very simple. We have chosen to operate the business in a way that provides year on year profitability and only ever take dividends of less than half of the profits to allow us to build up a cash reserve.
This has meant that Symmetry has no borrowing and no involvement of external funding organisations such as venture capital companies.
We have a well-defined business strategy, a clear and effective brand, an experienced management team, the right product, the right people, and the right approach to doing business.
We make use of AI tools to increase the effectiveness of the software and the productivity of our customers, but we believe our key differentiator is how we do business.
In an era where many companies are starting to automate the customer interface, we believe that dealing direct with customers, listening to what they tell us, adapting the core product based on customer feedback, and always delivering on what we promise makes us different to most of our competitors.
Opportunities
One of the strengths of Symmetry is that we can adapt, replan, and find new ways of delivering high quality services. We continue to challenge what we do, and to find new opportunities to help our customers in ways that would benefit both their organisations and the wider business.
For various reasons Symmetry has focussed on methods and systems to make the company profitable. The company is therefore well placed for growth and as revenues grow the costs will grow at a much slower rate meaning that profitability would be greatly enhanced.
We see the recent creation of an Employee Ownership Trust (EOT) as a significant opportunity for the business. Our Directors and Senior Management Team have always been fully invested in our customers, and the business.
The EOT means that the wider team at Symmetry Ltd will be directly impacted, by the happiness of our customers, and the success of the business. This can only be a good thing for the business and means that the general outlook for the business is positive.
Symmetry Limited
Directors' Report for the Year Ended 28 February 2026
The directors present their report and the financial statements for the year ended 28 February 2026.
Directors of the company
The directors who held office during the year were as follows:
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Symmetry Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Symmetry Limited
Independent Auditor's Report to the Members of Symmetry Limited
Opinion
We have audited the financial statements of Symmetry Limited (the 'company') for the year ended 28 February 2026, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 28 February 2026 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Symmetry Limited
Independent Auditor's Report to the Members of Symmetry Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Directors' Report has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit; or |
• | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities [set out on page 5], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
Symmetry Limited
Independent Auditor's Report to the Members of Symmetry Limited
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We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act and tax legislation. |
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The risk of fraud and non-compliance with laws and regulations was discussed within the audit team and tests were planned and performed to address these risks. |
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We reviewed the minutes of directors and shareholders meetings for evidence of non-compliance with relevant laws and regulations. |
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We considered the systems and controls that the directors have in place to prevent and detect fraud and to mitigate non-compliance with laws and regulations. |
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We performed analytical procedures to identify any unusual items that might indicate risks of material misstatements due to fraud. |
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We reviewed the disclosures in the financial statements and tested to supporting documentation to assess compliance with the relevant laws and regulations discussed above.. |
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Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some irregularities, even though we have properly planned and performed our audit in accordance with auditing standards. There is a higher risk of non-detection of material misstatements that arise due to fraud than those that arise from error as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations, and cannot be expected to detect all fraud and non-compliance with laws and regulations. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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For and on behalf of
Westbourne Place
Clifton Bristol
BS8 1RU
Symmetry Limited
Profit and Loss Account for the Year Ended 28 February 2026
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Note |
2026 |
2025 |
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Turnover |
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Cost of sales |
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Gross profit |
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Administrative expenses |
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Operating profit |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
( |
- |
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(959) |
14,169 |
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Profit before tax |
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Tax on profit |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Symmetry Limited
(Registration number: 03151660)
Balance Sheet as at 28 February 2026
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Note |
2026 |
2025 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
26,777 |
26,777 |
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Capital redemption reserve |
24,583 |
24,583 |
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Retained earnings |
597,867 |
512,076 |
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Shareholders' funds |
649,227 |
563,436 |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Symmetry Limited
Statement of Changes in Equity for the Year Ended 28 February 2026
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 1 March 2025 |
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Profit for the year |
- |
- |
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EOT Contribution |
- |
- |
(200,000) |
(200,000) |
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At 28 February 2026 |
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Share capital |
Capital redemption reserve |
Retained earnings |
Total |
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At 29 February 2024 |
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Profit for the year |
- |
- |
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EOT Contribution |
- |
- |
(700,000) |
(700,000) |
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At 28 February 2025 |
26,777 |
24,583 |
512,076 |
563,436 |
Symmetry Limited
Notes to the Financial Statements for the Year Ended 28 February 2026
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Symmetry Limited
Notes to the Financial Statements for the Year Ended 28 February 2026
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold improvements |
straight line over the terms of the lease |
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Furniture, fittings and equipment |
33% reducing balance |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Symmetry Limited
Notes to the Financial Statements for the Year Ended 28 February 2026
Financial instruments
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Auditors' remuneration |
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2026 |
2025 |
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Audit of the financial statements |
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Other fees to auditors |
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Taxation compliance services |
- |
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Profit before tax |
Arrived at after charging/(crediting)
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2026 |
2025 |
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Depreciation expense |
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Amortisation expense |
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Symmetry Limited
Notes to the Financial Statements for the Year Ended 28 February 2026
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Intangible assets |
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Internally generated software development costs |
Other intangible assets |
Total |
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Cost or valuation |
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At 1 March 2025 |
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Additions internally developed |
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- |
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At 28 February 2026 |
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Amortisation |
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At 1 March 2025 |
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Amortisation charge |
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At 28 February 2026 |
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Carrying amount |
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At 28 February 2026 |
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At 28 February 2025 |
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Symmetry Limited
Notes to the Financial Statements for the Year Ended 28 February 2026
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Tangible assets |
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Long leasehold land and buildings |
Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 March 2025 |
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Additions |
- |
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At 28 February 2026 |
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Depreciation |
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At 1 March 2025 |
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Charge for the year |
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At 28 February 2026 |
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Carrying amount |
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At 28 February 2026 |
- |
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At 28 February 2025 |
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Included within the net book value of land and buildings above is £Nil (2025 - £781) in respect of long leasehold land and buildings.
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Debtors |
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Current |
2026 |
2025 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Symmetry Limited
Notes to the Financial Statements for the Year Ended 28 February 2026
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Creditors |
Creditors: amounts falling due within one year
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Note |
2026 |
2025 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £35,370 (2025 - £26,302).
Creditors: amounts falling due after more than one year
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Note |
2026 |
2025 |
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Due after one year |
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Loans and borrowings |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £8,740 (2025 - £89,803).
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Loans and borrowings |
Non-current loans and borrowings
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2026 |
2025 |
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Hire purchase contracts |
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Current loans and borrowings
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2026 |
2025 |
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Hire purchase contracts |
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Symmetry Limited
Notes to the Financial Statements for the Year Ended 28 February 2026
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2026 |
2025 |
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Not later than one year |
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Later than one year and not later than five years |
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Later than five years |
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Parent and ultimate parent undertaking |
The company's immediate parent is