Company Registration No. 02926171 (England and Wales)
TRISYS BUSINESS SOFTWARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
PAGES FOR FILING WITH REGISTRAR
TRISYS BUSINESS SOFTWARE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
TRISYS BUSINESS SOFTWARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
585
Current assets
Debtors
4
41,600
75,247
Cash at bank and in hand
217,392
118,278
258,992
193,525
Creditors: amounts falling due within one year
5
(115,491)
(85,395)
Net current assets
143,501
108,130
Net assets
144,086
108,130
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
143,986
108,030
Total equity
144,086
108,130
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 December 2021 and are signed on its behalf by:
Mrs SD Lowther
Director
Company Registration No. 02926171
TRISYS BUSINESS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 2 -
1
Accounting policies
Company information
Trisys Business Software Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Wellington House, East Road, Cambridge, Cambridgeshire, CB1 1BH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents net invoiced sales of goods and services, excluding Value Added Tax. Turnover
derived from the TriSys and Client Code products was split into four main areas; Licence Fees,
Consultancy, Technical Support and Application Service Provider ( ASP ) hosted services.
Turnover related to non-refundable licence fees and consultancy activities are recognised upon receipt
of payment. Turnover derived from Technical Support is recognised over the period of the annual
support contract. Turnover from the ASP services is recognised in the period when the related costs
were incurred.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to
determine whether there is any indication that those assets have suffered an impairment loss. If any such
indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,
the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Taxation
Taxation for the year comprises current and deferred tax.
TRISYS BUSINESS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 3 -
Current 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
e
xpected 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.
1.6
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.
1.7
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.8
Foreign exchange
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
4
6
TRISYS BUSINESS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 4 -
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2020
79,978
Additions
678
At 31 March 2021
80,656
Depreciation and impairment
At 1 April 2020
79,978
Depreciation charged in the year
93
At 31 March 2021
80,071
Carrying amount
At 31 March 2021
585
At 31 March 2020
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
28,450
27,836
Corporation tax recoverable
11,224
46,524
Prepayments and accrued income
1,782
575
41,456
74,935
Deferred tax asset (note )
144
312
41,600
75,247
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
17,257
14,695
Taxation and social security
56,484
34,495
Deferred income
29,031
20,617
Accruals and deferred income
12,719
15,588
115,491
85,395