Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-04-01falseNo description of principal activity6146truetrue 11922806 2021-04-01 2022-03-31 11922806 2020-04-01 2021-03-31 11922806 2022-03-31 11922806 2021-03-31 11922806 c:Director2 2021-04-01 2022-03-31 11922806 d:PlantMachinery 2021-04-01 2022-03-31 11922806 d:PlantMachinery 2022-03-31 11922806 d:PlantMachinery 2021-03-31 11922806 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 11922806 d:FurnitureFittings 2021-04-01 2022-03-31 11922806 d:FurnitureFittings 2022-03-31 11922806 d:FurnitureFittings 2021-03-31 11922806 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 11922806 d:ComputerEquipment 2021-04-01 2022-03-31 11922806 d:ComputerEquipment 2022-03-31 11922806 d:ComputerEquipment 2021-03-31 11922806 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 11922806 d:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 11922806 d:OwnedOrFreeholdAssets 2021-04-01 2022-03-31 11922806 d:PatentsTrademarksLicencesConcessionsSimilar 2022-03-31 11922806 d:PatentsTrademarksLicencesConcessionsSimilar 2021-03-31 11922806 d:Goodwill 2021-04-01 2022-03-31 11922806 d:Goodwill 2022-03-31 11922806 d:Goodwill 2021-03-31 11922806 d:CurrentFinancialInstruments 2022-03-31 11922806 d:CurrentFinancialInstruments 2021-03-31 11922806 d:CurrentFinancialInstruments 1 2022-03-31 11922806 d:CurrentFinancialInstruments 1 2021-03-31 11922806 d:Non-currentFinancialInstruments 2022-03-31 11922806 d:Non-currentFinancialInstruments 2021-03-31 11922806 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11922806 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 11922806 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11922806 d:Non-currentFinancialInstruments d:AfterOneYear 2021-03-31 11922806 d:ShareCapital 2022-03-31 11922806 d:ShareCapital 2021-03-31 11922806 d:RetainedEarningsAccumulatedLosses 2022-03-31 11922806 d:RetainedEarningsAccumulatedLosses 2021-03-31 11922806 c:OrdinaryShareClass1 2021-04-01 2022-03-31 11922806 c:OrdinaryShareClass1 2022-03-31 11922806 c:OrdinaryShareClass1 2021-03-31 11922806 c:FRS102 2021-04-01 2022-03-31 11922806 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11922806 c:FullAccounts 2021-04-01 2022-03-31 11922806 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 11922806 d:WithinOneYear 2022-03-31 11922806 d:WithinOneYear 2021-03-31 11922806 d:BetweenOneFiveYears 2022-03-31 11922806 d:BetweenOneFiveYears 2021-03-31 11922806 d:MoreThanFiveYears 2022-03-31 11922806 d:MoreThanFiveYears 2021-03-31 11922806 2 2021-04-01 2022-03-31 11922806 6 2021-04-01 2022-03-31 11922806 d:Goodwill d:OwnedIntangibleAssets 2021-04-01 2022-03-31 11922806 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2021-04-01 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11922806









SECURESHIELD LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

 
SECURESHIELD LTD
REGISTERED NUMBER: 11922806

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
2021
Note
£
£

Fixed assets
  

Intangible assets
 4 
23,000
35,000

Tangible assets
 5 
42,439
24,140

Investments
 6 
51
51

  
65,490
59,191

Current assets
  

Stocks
 7 
451,813
408,541

Debtors: amounts falling due within one year
  
1,056,625
1,141,876

Cash at bank and in hand
  
61,800
341,386

  
1,570,238
1,891,803

Creditors: amounts falling due within one year
 9 
(1,256,295)
(1,466,201)

Net current assets
  
 
 
313,943
 
 
425,602

Total assets less current liabilities
  
379,433
484,793

Creditors: amounts falling due after more than one year
 10 
(300,000)
(400,000)

  

Net assets
  
79,433
84,793


Capital and reserves
  

Called up share capital 
 11 
42,000
42,000

Profit and loss account
  
37,433
42,793

  
79,433
84,793


Page 1

 
SECURESHIELD LTD
REGISTERED NUMBER: 11922806
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Levey
Director

Date: 6 September 2022

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SECURESHIELD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

The principal activity of the Company is that of a provider of specialist fire safety, security and Technology Enabled Care Systems. The core of the business is the installation and maintenance of such systems.
The Company is a private company limited by shares and is incorporated in England and Wales.
The registered office address is 35 Ballards Lane, London, N3 1XW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Going concern

Management has considered the consequences of COVID-19 and other events and conditions, and it has determined that they do not create a material uncertainty that casts significant doubt upon the entity’s ability to continue as a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 3

 
SECURESHIELD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
SECURESHIELD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
50%
straight-line
Fixtures and fittings
-
25%
straight-line
Computer equipment
-
25%
straight-line
Other fixed assets
-
25%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Valuation of investments

Investments are measured at cost less accumulated impairment.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
SECURESHIELD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

3.


Employees

The average monthly number of employees, including directors, during the year was 61 (2021 - 46).


4.


Intangible assets




Patents
Goodwill
Total

£
£
£



Cost


At 1 April 2021
37,000
11,000
48,000



At 31 March 2022

37,000
11,000
48,000



Amortisation


At 1 April 2021
10,021
2,979
13,000


Charge for the year on owned assets
9,250
2,750
12,000



At 31 March 2022

19,271
5,729
25,000



Net book value



At 31 March 2022
17,729
5,271
23,000



At 31 March 2021
26,979
8,021
35,000



Page 6

 
SECURESHIELD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

5.


Tangible fixed assets





Other fixed assets
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2021
5,608
2,000
20,525
28,133


Additions
20,340
-
9,194
29,534



At 31 March 2022

25,948
2,000
29,719
57,667



Depreciation


At 1 April 2021
935
542
2,516
3,993


Charge for the year on owned assets
4,162
500
6,573
11,235



At 31 March 2022

5,097
1,042
9,089
15,228



Net book value



At 31 March 2022
20,851
958
20,630
42,439



At 31 March 2021
4,673
1,458
18,009
24,140


6.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 April 2021
51



At 31 March 2022
51




Page 7

 
SECURESHIELD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

7.


Stocks

2022
2021
£
£

Stock
170,813
132,541

Work in progress
281,000
276,000

451,813
408,541



8.


Debtors

2022
2021
£
£


Trade debtors
676,254
862,089

Other debtors
248,760
156,390

Prepayments and accrued income
131,611
123,397

1,056,625
1,141,876



9.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
100,000
100,000

Other loans
-
12,750

Trade creditors
371,137
526,652

Other taxation and social security
350,587
277,523

Payments received on account
408,549
468,970

Other creditors
17,859
47,830

Accruals and deferred income
8,163
32,476

1,256,295
1,466,201


Payments received on account relate to sums received from Aldermore Bank PLC in respect of book debts assigned to them. Aldermore hold a fixed charge over the book debts and a floating charge over all other assets in respect of liabilities due to them.

Page 8

 
SECURESHIELD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

10.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
300,000
400,000



11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



42,000 (2021 - 42,000) Ordinary shares of £1.00 each
42,000
42,000



12.


Share based payments

During the year, the company granted further options over 1,556 Ordinary shares of £1 each to two employees of the company.  The options have an exercise price of £1 and are only to be exercised in the event of a sale or flotation.
Options have been granted over 6,222 Ordinary shares of £1 each to four employees of the company.  The options have an exercise price of £1 and are only to be exercised in the event of a sale or flotation.


13.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company and in an independently administered fund. Contributions totalling £8,263 (2021: £7,277) were payable to the fund at the balance sheet date are included in creditors.


14.


Commitments under operating leases

At 31 March 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
81,733
132,407

Later than 1 year and not later than 5 years
96,176
82,407

Later than 5 years
-
15,971

177,909
230,785

 
Page 9