Prosyst Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC149765 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

PROSYST LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Foglia

SECRETARY:

LC Secretaries Limited

REGISTERED OFFICE:

Johnstone House

52-54 Rose Street

Aberdeen

AB10 1HA

REGISTERED NUMBER:

SC149765 (Scotland)

ACCOUNTANTS:

Haslers

Chartered Accountants

Old Station Road

Loughton

Essex

IG10 4PL

FIXED ASSETS

Investments

4

151,772

CURRENT ASSETS

Debtors

5

88,664

87,222

Cash at bank

767

696

89,431

87,918

CREDITORS

Amounts falling due within one year

6

1,300

NET CURRENT ASSETS

88,131

86,618

TOTAL ASSETS LESS CURRENT
LIABILITIES

239,903

238,390

CREDITORS

Amounts falling due after more than one
year

7

164,597

161,597

NET ASSETS

75,306

76,793

CAPITAL AND RESERVES

Called up share capital

200,002

Share premium

8

10,500

Retained earnings

8

(135,196

)

(133,709

)

SHAREHOLDERS' FUNDS

75,306

76,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 by the director and authorised for issue on 13 December 2021 and were signed by:

P Foglia - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

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 in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

subsidiary

company

£

COST

At 1 April 2020

and 31 March 2021

151,772

NET BOOK VALUE

At 31 March 2021

151,772

At 31 March 2020

151,772

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Amounts owed by group undertakings

88,414

86,914

VAT

250

308

88,664

87,222

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Accruals and deferred income

1,300

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2021

2020

£

Preference shares

40,000

Amounts owed to group undertakings

23,370

20,370

Accrued finance charges

101,227

164,597

161,597

Amounts falling due in more than five years:

Repayable by instalments

Preference shares

40,000

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

At 1 April 2020

(133,709

)

10,500

(123,209

)

Deficit for the year

(1,487

)

(1,487

)

At 31 March 2021

(135,196

)

10,500

(124,696

)

9.	ULTIMATE CONTROLLING PARTY

The company si a subsidiary of ATS Srl, which is also a subsidiary of A.T.S. HOLDING IMMOBILARE S.R.L. . Both companies are incorporated in Italy.

Prosyst Limited - Accounts to registrar (filleted) - small 18.2

Prosyst Limited - Accounts to registrar (filleted) - small 18.2