IST Systems Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05010872 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

IST Systems Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Rajesh Enapothula

Anand Duddella

Sreedh C R Aprascheru

Praveen K Veera

Registered office:

8 Lombard Road

Wimbledon

SW19 3TZ

Registered number:

05010872 (England and Wales)

Accountants:

KAMP Accountants Limited

Marhsall House, Suite 21/25

124 Middleton Road

Morden

Surrey

SM4 6RW

Fixed assets

Intangible assets

3

-

-

Tangible assets

4

311

311

311

311

Current assets

Debtors

5

(28,086

)

-

Cash at bank

27,145

33,835

(941

)

33,835

Creditors

Amounts falling due within one year

6

(234,537

)

(25,724

)

Net current (liabilities)/assets

(235,478

)

8,111

Total assets less current liabilities

(235,167

)

8,422

Creditors

Amounts falling due after more than one year

7

-

(94,002

)

Net liabilities

(235,167

)

(85,580

)

Capital and reserves

Called up share capital

100

100

Retained earnings

(235,267

)

(85,680

)

Shareholders' funds

(235,167

)

(85,580

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 28 September 2017 and were signed on its behalf by:

Rajesh Enapothula - Director

Anand Duddella - Director

Sreedh C R Aprascheru - Director

Praveen K Veera - Director

1.	Statutory information

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.	Intangible fixed assets

Goodwill

£

Cost

At 1 January 2016

and 31 December 2016

10,000

Amortisation

At 1 January 2016

and 31 December 2016

10,000

Net book value

At 31 December 2016

-

At 31 December 2015

-

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2016

and 31 December 2016

6,839

Depreciation

At 1 January 2016

and 31 December 2016

6,528

Net book value

At 31 December 2016

311

At 31 December 2015

311

5.

Debtors: amounts falling due within one year

31.12.16

31.12.15

£

£

Other debtors

(28,086

)

-

6.

Creditors: amounts falling due within one year

31.12.16

31.12.15

£

£

Trade creditors

228,355

12,879

Taxation and social security

6,182

2,627

Other creditors

-

10,218

234,537

25,724

7.

Creditors: amounts falling due after more than one year

31.12.16

31.12.15

£

£

Other creditors

-

94,002