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Registration number: 05761035

Senturian Security Group Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Senturian Security Group Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Senturian Security Group Ltd

Company Information

Director

Mr Ashley Morgan

Registered office

Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Accountants

Fosse Accountants Limited
Association of Chartered Certified Accountants
23 St Johns
Enderby
Leicester
Leicestershire
LE19 2BR

 

Senturian Security Group Ltd

(Registration number: 05761035)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

16,790

20,195

Investments

5

100

100

 

16,890

20,295

Current assets

 

Stocks

6

53,293

54,825

Debtors

7

276,320

278,614

Cash at bank and in hand

 

58,439

24,735

 

388,052

358,174

Creditors: Amounts falling due within one year

8

(380,866)

(329,366)

Net current assets

 

7,186

28,808

Total assets less current liabilities

 

24,076

49,103

Creditors: Amounts falling due after more than one year

8

(1,041)

(2,433)

Net assets

 

23,035

46,670

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

23,034

46,669

Shareholders' funds

 

23,035

46,670

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.

Director's 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 director acknowledges his 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.

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.

 

Senturian Security Group Ltd

(Registration number: 05761035)
Balance Sheet as at 31 December 2021

Approved and authorised by the director on 12 September 2022
 

.........................................
Mr Ashley Morgan
Director

 

Senturian Security Group Ltd

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:
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

These financial statements were authorised for issue by the director on 12 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 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.

 

Senturian Security Group Ltd

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

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

Fixtures and fittings

10% reducing balance

Computer equipment

33% reducing balance

Motor vehicles

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

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.

 

Senturian Security Group Ltd

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Senturian Security Group Ltd

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

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Senturian Security Group Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 30 (2020 - 32).

 

Senturian Security Group Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2021

11,919

16,450

28,369

Additions

-

1,995

1,995

At 31 December 2021

11,919

18,445

30,364

Depreciation

At 1 January 2021

4,536

3,638

8,174

Charge for the year

2,135

3,265

5,400

At 31 December 2021

6,671

6,903

13,574

Carrying amount

At 31 December 2021

5,248

11,542

16,790

At 31 December 2020

7,383

12,812

20,195

5

Investments

2021
£

2020
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 January 2021

100

Carrying amount

At 31 December 2021

100

At 31 December 2020

100

 

Senturian Security Group Ltd

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

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2021

2020

Subsidiary undertakings

Senturian Security Cleaning Solutions Limited

Bridge House Business Centre Room 1.4, 9-13 Holbrook Lane, Coventry, CV6 4AD

England

100 Ordinary shares

100%

100%

Subsidiary undertakings

Senturian Security Cleaning Solutions Limited

The principal activity of Senturian Security Cleaning Solutions Limited is of a cleaning company.

6

Stocks

2021
£

2020
£

Work in progress

53,293

54,825

7

Debtors

Current

2021
£

2020
£

Trade debtors

270,715

276,263

Prepayments

2,536

2,351

Other debtors

3,069

-

 

276,320

278,614

 

Senturian Security Group Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

10

124,242

99,874

Trade creditors

 

33,714

31,477

Taxation and social security

 

173,695

161,788

Accruals and deferred income

 

1,606

1,606

Other creditors

 

47,609

34,621

 

380,866

329,366

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

10

1,041

2,433

9

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

10

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Other borrowings

1,041

2,433

 

Senturian Security Group Ltd

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

2021
£

2020
£

Current loans and borrowings

Hire purchase contracts

1,392

1,206

Other borrowings

122,850

98,668

124,242

99,874

Other borrowings

The carrying amount of Fixed and floating denture charge at year end is £122,850 (2020 - £98,668).

There is a fixed and floating debenture charge held on the above amount by Ultimate Asset Finance Limited. During the year, this company satisfied the £98,668 shown in the 2020 column held as a charge from Castlebridge SPV Limited.

11

Dividends

The director is recommending a final dividend of £Nil (2020 - £Nil) per share totalling £Nil (2020 - £Nil). This dividend has not been accrued in the balance sheet.

Interim dividends paid

   

2021
£

 

2020
£

Interim dividend of £2,000.00 per each Ordinary shares

 

2,000

 

2,000

         

12

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2021
£

2020
£

Remuneration

24,004

22,750

Contributions paid to money purchase schemes

4,308

4,113

28,312

26,863

Summary of transactions with all subsidiaries

SENTURIAN SECURITY CLEANING SOLUTIONS LIMITED
 At the year end, the subsidiary owed this company £1,682 (2021: £nil)


 

 

Senturian Security Group Ltd

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

Loans to related parties

2021

Subsidiary
£

Total
£

Advanced

1,682

1,682

At end of period

1,682

1,682