System Laboratories UK Ltd 30/09/2022 iXBRL

System Laboratories UK Ltd 30/09/2022 iXBRL

SYSTEM LABORATORIES UK LTD - Company Information

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1 30/09/2022 2022-09-30 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-10-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 12870872 2021-10-01 2022-09-30 12870872 2022-09-30 12870872 2021-09-30 12870872 2020-10-01 2021-09-30 12870872 2021-09-30 12870872 core:PlantMachinery 2021-10-01 2022-09-30 12870872 core:FurnitureFittingsToolsEquipment 2021-10-01 2022-09-30 12870872 bus:RegisteredOffice 2021-10-01 2022-09-30 12870872 bus:Director1 2021-10-01 2022-09-30 12870872 bus:Director2 2021-10-01 2022-09-30 12870872 bus:Director3 2021-10-01 2022-09-30 12870872 bus:Director4 2021-10-01 2022-09-30 12870872 bus:Director5 2021-10-01 2022-09-30 12870872 bus:Director6 2021-10-01 2022-09-30 12870872 core:LandBuildings core:ShortLeaseholdAssets 2021-09-30 12870872 core:PlantMachinery 2021-09-30 12870872 core:FurnitureFittingsToolsEquipment 2021-09-30 12870872 core:LandBuildings core:ShortLeaseholdAssets 2022-09-30 12870872 core:PlantMachinery 2022-09-30 12870872 core:FurnitureFittingsToolsEquipment 2022-09-30 12870872 core:ShareCapital 2020-10-01 2021-09-30 12870872 core:RetainedEarningsAccumulatedLosses 2020-10-01 2021-09-30 12870872 core:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 12870872 core:WithinOneYear 2022-09-30 12870872 core:WithinOneYear 2021-09-30 12870872 core:ShareCapital 2022-09-30 12870872 core:ShareCapital 2021-09-30 12870872 core:RetainedEarningsAccumulatedLosses 2022-09-30 12870872 core:RetainedEarningsAccumulatedLosses 2021-09-30 12870872 core:LandBuildings core:ShortLeaseholdAssets 2021-10-01 2022-09-30 12870872 core:LandBuildings core:ShortLeaseholdAssets 2021-09-30 12870872 core:PlantMachinery 2021-09-30 12870872 core:FurnitureFittingsToolsEquipment 2021-09-30 12870872 bus:SmallEntities 2021-10-01 2022-09-30 12870872 bus:AuditExempt-NoAccountantsReport 2021-10-01 2022-09-30 12870872 bus:FullAccounts 2021-10-01 2022-09-30 12870872 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 12870872 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30
Company registration number: 12870872
System Laboratories UK Ltd
Unaudited filleted financial statements
30 September 2022
System Laboratories UK Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
System Laboratories UK Ltd
Directors and other information
Directors Mr A Gitarts
Mr A James (Appointed 14 February 2022)
Mr S Remo (Resigned 4 January 2022)
Mr S Bachar (Resigned 14 February 2022)
Mr P Timmins (Resigned 4 January 2022)
Mr S Bioko (Resigned 14 February 2022)
Company number 12870872
Registered office 24 Bruton Place
London
W1J 6NE
System Laboratories UK Ltd
Statement of financial position
30 September 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 140,147 44,489
_______ _______
140,147 44,489
Current assets
Debtors 6 39,016 49,175
Cash at bank and in hand 1,166 36,224
_______ _______
40,182 85,399
Creditors: amounts falling due
within one year 7 ( 625,649) ( 234,748)
_______ _______
Net current liabilities ( 585,467) ( 149,349)
_______ _______
Total assets less current liabilities ( 445,320) ( 104,860)
_______ _______
Net liabilities ( 445,320) ( 104,860)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 445,420) ( 104,960)
_______ _______
Shareholders deficit ( 445,320) ( 104,860)
_______ _______
For the year ending 30 September 2022 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 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 July 2023 , and are signed on behalf of the board by:
Mr A Gitarts
Director
Company registration number: 12870872
System Laboratories UK Ltd
Statement of changes in equity
Year ended 30 September 2022
Called up share capital Profit and loss account Total
£ £ £
At 1 October 2020 - - -
Loss for the year ( 104,960) ( 104,960)
_______ _______ _______
Total comprehensive income for the year - ( 104,960) ( 104,960)
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 30 September 2021 and 1 October 2021 100 ( 104,960) ( 104,860)
Loss for the year ( 340,460) ( 340,460)
_______ _______ _______
Total comprehensive income for the year - ( 340,460) ( 340,460)
_______ _______ _______
At 30 September 2022 100 ( 445,420) ( 445,320)
_______ _______ _______
System Laboratories UK Ltd
Notes to the financial statements
Year ended 30 September 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Bruton Place, London, W1J 6NE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
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.
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 provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extentthat expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Short leasehold property - Straight line over the life of the lease
Plant and machinery - 25 % straight line
Fittings fixtures and equipment - 25 % straight line
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 October 2021 33,573 20,486 3,022 57,081
Additions 121,128 17,341 - 138,469
_______ _______ _______ _______
At 30 September 2022 154,701 37,827 3,022 195,550
_______ _______ _______ _______
Depreciation
At 1 October 2021 6,714 5,122 756 12,592
Charge for the year 32,598 9,457 756 42,811
_______ _______ _______ _______
At 30 September 2022 39,312 14,579 1,512 55,403
_______ _______ _______ _______
Carrying amount
At 30 September 2022 115,389 23,248 1,510 140,147
_______ _______ _______ _______
At 30 September 2021 26,859 15,364 2,266 44,489
_______ _______ _______ _______
6. Debtors
£ £
Trade debtors 8,568 -
Other debtors 30,448 49,175
_______ _______
39,016 49,175
_______ _______
7. Creditors: amounts falling due within one year
£ £
Trade creditors 4,115 30,374
Social security and other taxes 1,437 1,124
Other creditors 620,097 203,250
_______ _______
625,649 234,748
_______ _______