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Registration number: 06741338

SecureForce UK Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

SecureForce UK Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 13

 

SecureForce UK Limited

Company Information

Directors

M A Wain

K Schmidt

Registered office

Unit 24 Daneheath Bus. Park
Wentworth Road
Newton Abbot
Devon
TQ12 6TL

Accountants

Opus Accounting Limited
Chartered Certified Accountants
Pound Court
Pound Street
Newbury
Berkshire
RG14 6AA

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
SecureForce UK Limited
for the Year Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SecureForce UK Limited for the year ended 31 December 2021 as set out on pages 3 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of SecureForce UK Limited, as a body, in accordance with the terms of our engagement letter dated 5 October 2012. Our work has been undertaken solely to prepare for your approval the accounts of SecureForce UK Limited and state those matters that we have agreed to state to the Board of Directors of SecureForce UK Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SecureForce UK Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that SecureForce UK Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SecureForce UK Limited. You consider that SecureForce UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SecureForce UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Opus Accounting Limited
Chartered Certified Accountants
Pound Court
Pound Street
Newbury
Berkshire
RG14 6AA

6 September 2022

 

SecureForce UK Limited

(Registration number: 06741338)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Intangible assets

4

28,800

33,600

Tangible assets

5

34,790

13,917

 

63,590

47,517

Current assets

 

Debtors

6

408,728

343,620

Cash at bank and in hand

 

206,899

244,112

 

615,627

587,732

Creditors: Amounts falling due within one year

7

(229,316)

(233,483)

Net current assets

 

386,311

354,249

Total assets less current liabilities

 

449,901

401,766

Creditors: Amounts falling due after more than one year

7

(24,066)

(62,000)

Provisions for liabilities

(6,610)

(3,214)

Net assets

 

419,225

336,552

Capital and reserves

 

Called up share capital

8

300

300

Retained earnings

418,925

336,252

Shareholders' funds

 

419,225

336,552



 

For the financial year ending 31 December 2021 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 accounts for the year in question in accordance with section 476; and

 

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.


 

 

SecureForce UK Limited

(Registration number: 06741338)
Balance Sheet as at 31 December 2021 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 September 2022 and signed on its behalf by:
 

......................................
M A Wain
Director

......................................
K Schmidt
Director

 
 

SecureForce UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 24 Daneheath Bus. Park
Wentworth Road
Newton Abbot
Devon
TQ12 6TL

These financial statements were authorised for issue by the Board on 2 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

SecureForce UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% on cost

Furniture and equipment

33% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Intangible assets have been capitalised and will be amortised over ten years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

SecureForce UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

SecureForce UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 62 (2020 - 65).

 

SecureForce UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2021

6,000

42,000

48,000

At 31 December 2021

6,000

42,000

48,000

Amortisation

At 1 January 2021

1,800

-

1,800

Amortisation charge

600

16,800

17,400

At 31 December 2021

2,400

16,800

19,200

Carrying amount

At 31 December 2021

3,600

25,200

28,800

At 31 December 2020

4,200

29,400

33,600

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2021

6,293

41,265

47,558

Additions

527

41,922

42,449

At 31 December 2021

6,820

83,187

90,007

Depreciation

At 1 January 2021

5,092

28,549

33,641

Charge for the year

779

20,797

21,576

At 31 December 2021

5,871

49,346

55,217

Carrying amount

At 31 December 2021

949

33,841

34,790

At 31 December 2020

1,201

12,716

13,917

 

SecureForce UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

6

Debtors

Current

2021
£

2020
£

Trade debtors

336,186

308,223

Prepayments

2,179

5,035

Other debtors

70,363

30,362

 

408,728

343,620

 

SecureForce UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

9

25,974

22,155

Trade creditors

 

33,123

22,938

Taxation and social security

 

62,405

69,522

Accruals and deferred income

 

104,345

113,248

Other creditors

 

3,469

5,620

 

229,316

233,483

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

9

24,066

62,000

8

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

300

300

300

300

         

9

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

-

50,000

Finance lease liabilities

24,066

-

Other borrowings

-

12,000

24,066

62,000

 

SecureForce UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

2021
£

2020
£

Current loans and borrowings

Finance lease liabilities

13,974

10,155

Other borrowings

12,000

12,000

25,974

22,155

10

Dividends

Interim dividends paid

   

2021
£

 

2020
£

Interim dividend of £184.00 (2020 - £199.88) per each Ordinary £1

 

55,200

 

59,965

         

11

Related party transactions

 

SecureForce UK Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021 (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2021
£

2020
£

Remuneration

138,154

63,245