Vicarage Systems Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 09317318 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

VICARAGE SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J S G Oversby-Powell

G W Wood

REGISTERED OFFICE:

Unit 6 Motorway Industrial Estate

Forstal Road

Aylesford

Kent

ME20 7AF

REGISTERED NUMBER:

09317318 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Riverside House

40-46 High Street

Maidstone

Kent

ME14 1JH

FIXED ASSETS

Investments

4

274,614

CURRENT ASSETS

Cash in hand

393

NET CURRENT ASSETS

393

TOTAL ASSETS LESS CURRENT
LIABILITIES

275,007

CAPITAL AND RESERVES

Called up share capital

35,000

Retained earnings

240,007

SHAREHOLDERS' FUNDS

275,007

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26 June 2022 and were signed on its behalf by:

G W Wood - Director

1.	STATUTORY INFORMATION

Vicarage Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries

Investments held as fixed assets are shown at cost less provision for impairment. Investment comprises of subsidiary, the company does not produce consolidated financial statements

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves, cash balances and no significant long term liabilities.

Due to the impact of Covid 19 on the company's investment, there will be no dividend payments from this company for the current year. This has resulted in zero income for Vicarage Systems Limited.

As for the longer-term value of the investment asset, the directors currently see a possible reduction in income for Amdex Solutions Limited, although they do not believe that this would have a significant impact on the value of the asset.

Given all the investors are also users of the system and the main customers, there is a longer-term view in relation to the business and the security of the customer base.

Thus the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Creditors

Short term creditors are measured at the transaction price.

Cash and Equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more then 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 accounts of cash with no significant risk of change in value.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);

- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;

- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;

- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 October 2020

and 30 September 2021

274,614

NET BOOK VALUE

At 30 September 2021

274,614

At 30 September 2020

274,614

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Amdex Solutions Limited

Registered office: Riverside House, 40-46 High Street, Maidstone, Kent, ME14 1JH

Nature of business: Business and domestic software development

%

Class of shares:

holding

Ordinary

100.00

Vicarage Systems Limited - Accounts to registrar (filleted) - small 18.2

Vicarage Systems Limited - Accounts to registrar (filleted) - small 18.2