Success Systems Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02736498 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2022

for

Success Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D R Hudson

REGISTERED OFFICE:

Unit 18 Eckland Lodge Business Park

Desborough Road

Market Harborough

Leicestershire

LE16 8HB

REGISTERED NUMBER:

02736498 (England and Wales)

ACCOUNTANTS:

Tollingtons Accountants Limited

Chartered Certified Accountants

11 Ashton Drive

Enderby

Leicestershire

LE19 4BA

FIXED ASSETS

Tangible assets

4

3,324

5,461

CURRENT ASSETS

Debtors

5

4,753

230

Cash at bank

17,183

15,811

21,936

16,041

CREDITORS

Amounts falling due within one year

6

6,831

7,134

NET CURRENT ASSETS

15,105

8,907

TOTAL ASSETS LESS CURRENT
LIABILITIES

18,429

14,368

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

18,329

14,268

SHAREHOLDERS' FUNDS

18,429

14,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 February 2023 and were signed by:

D R Hudson - Director

1.	STATUTORY INFORMATION

Success 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 June 2021

1,271

33,473

34,744

Additions

-

2,540

At 31 May 2022

1,271

36,013

37,284

DEPRECIATION

At 1 June 2021

1,271

28,012

29,283

Charge for year

-

4,677

At 31 May 2022

1,271

32,689

33,960

NET BOOK VALUE

At 31 May 2022

-

3,324

At 31 May 2021

-

5,461

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

Trade debtors

4,753

230

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

Trade creditors

(44

)

-

Tax

3,279

2,669

VAT

2,704

3,763

Credit card

374

60

Directors' current accounts

18

142

Accrued expenses

500

6,831

7,134

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.22

31.5.21

value:

£

100

Ordinary

£1

100

Success Systems Limited - Accounts to registrar (filleted) - small 22.3

Success Systems Limited - Accounts to registrar (filleted) - small 22.3