Company registration number 02926171 (England and Wales)
TRISYS BUSINESS SOFTWARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,379
4,058
Current assets
Debtors
4
30,098
21,691
Cash at bank and in hand
152,552
194,879
182,650
216,570
Creditors: amounts falling due within one year
5
(79,260)
(103,600)
Net current assets
103,390
112,970
Net assets
105,769
117,028
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
105,669
116,928
Total equity
105,769
117,028
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 2023 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.
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.
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 21 December 2023 and are signed on its behalf by:
Mr G Lowther
Director
Company registration number 02926171 (England and Wales)
TRISYS BUSINESS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 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 amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. 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 2023
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 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.
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
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:
2023
2022
Number
Number
Total
4
4
TRISYS BUSINESS SOFTWARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2022
85,231
Additions
74
At 31 March 2023
85,305
Depreciation and impairment
At 1 April 2022
81,173
Depreciation charged in the year
1,753
At 31 March 2023
82,926
Carrying amount
At 31 March 2023
2,379
At 31 March 2022
4,058
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
28,466
20,194
Prepayments and accrued income
1,632
1,497
30,098
21,691
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,004
14,888
Taxation and social security
41,420
40,629
Deferred income
23,560
35,428
Accruals and deferred income
10,276
12,655
79,260
103,600