System-Two Group Limited 31/12/2020 iXBRL
System-Two Group Limited 31/12/2020 iXBRL
Company registration number:
06026359
Contents
Statement of financial position
Notes to the financial statements
Statement of financial position
31 December 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
|
|
||||||
_______ | _______ | ||||||||
|
|
||||||||
Current assets | |||||||||
Debtors | 6 |
|
|
||||||
Cash at bank and in hand |
|
|
|||||||
_______ | _______ | ||||||||
|
|
||||||||
Creditors: amounts falling due | |||||||||
within one year | 7 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net current assets |
|
|
|||||||
_______ | _______ | ||||||||
Total assets less current liabilities |
|
|
|||||||
Creditors: amounts falling due | |||||||||
after more than one year | 8 |
(
|
(
|
||||||
_______ | _______ | ||||||||
Net assets |
|
|
|||||||
_______ | _______ | ||||||||
Capital and reserves | |||||||||
Called up share capital |
|
|
|||||||
Profit and loss account |
|
|
|||||||
_______ | _______ | ||||||||
Shareholders funds |
|
|
|||||||
_______ | _______ | ||||||||
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
31 August 2021
, and are signed on behalf of the board by:
Director
Company registration number:
06026359
Notes to the financial statements
Year ended 31 December 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Crowts Farmhouse, Tuesley Lane, Godalming, GU7 1UD.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment | - |
|
|
|
Motor vehicles | - |
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2019:
2
).
5.
Tangible assets
Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 January 2020 |
|
|
|
|
Additions |
|
|
|
|
Disposals | - |
(
|
(
|
|
_______ | _______ | _______ | ||
At 31 December 2020 |
|
|
|
|
_______ | _______ | _______ | ||
Depreciation | ||||
At 1 January 2020 |
|
|
|
|
Charge for the year |
|
25,702 |
|
|
Disposals | - |
(
|
(
|
|
_______ | _______ | _______ | ||
At 31 December 2020 |
|
|
|
|
_______ | _______ | _______ | ||
Carrying amount | ||||
At 31 December 2020 |
|
|
|
|
_______ | _______ | _______ | ||
At 31 December 2019 |
|
|
|
|
_______ | _______ | _______ | ||
6.
Debtors
2020 | 2019 | |||
£ | £ | |||
Trade debtors |
|
|
||
Other debtors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
|
|
||
Corporation tax | - |
|
||
Social security and other taxes |
|
- | ||
Other creditors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||
8.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
|
- | ||
Other creditors |
|
|
||
_______ | _______ | |||
|
|
|||
_______ | _______ | |||