Caseware UK (AP4) 2022.0.179 2022.0.179 The company's principal activities are to provide secure storage and warehouse facilities, together with ancillary services which are either self service or assisted, based at premises in the north kent area under the styles of 'Space Saver Storage' and 'Waterham Photographic Studios'.82022-04-01false8falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02695417 2022-04-01 2023-03-31 02695417 2021-04-01 2022-03-31 02695417 2023-03-31 02695417 2022-03-31 02695417 c:CompanySecretary1 2022-04-01 2023-03-31 02695417 c:Director1 2022-04-01 2023-03-31 02695417 c:Director1 2023-03-31 02695417 c:Director2 2022-04-01 2023-03-31 02695417 c:Director3 2022-04-01 2023-03-31 02695417 c:Director4 2022-04-01 2023-03-31 02695417 c:RegisteredOffice 2022-04-01 2023-03-31 02695417 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 02695417 d:Buildings d:LongLeaseholdAssets 2023-03-31 02695417 d:Buildings d:LongLeaseholdAssets 2022-03-31 02695417 d:PlantMachinery 2022-04-01 2023-03-31 02695417 d:PlantMachinery 2023-03-31 02695417 d:PlantMachinery 2022-03-31 02695417 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02695417 d:MotorVehicles 2022-04-01 2023-03-31 02695417 d:MotorVehicles 2023-03-31 02695417 d:MotorVehicles 2022-03-31 02695417 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02695417 d:FurnitureFittings 2022-04-01 2023-03-31 02695417 d:FurnitureFittings 2023-03-31 02695417 d:FurnitureFittings 2022-03-31 02695417 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02695417 d:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 02695417 d:OtherPropertyPlantEquipment 2023-03-31 02695417 d:OtherPropertyPlantEquipment 2022-03-31 02695417 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02695417 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02695417 d:CurrentFinancialInstruments 2023-03-31 02695417 d:CurrentFinancialInstruments 2022-03-31 02695417 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02695417 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 02695417 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 02695417 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 02695417 d:ShareCapital 2023-03-31 02695417 d:ShareCapital 2022-03-31 02695417 d:RetainedEarningsAccumulatedLosses 2023-03-31 02695417 d:RetainedEarningsAccumulatedLosses 2022-03-31 02695417 c:OrdinaryShareClass1 2022-04-01 2023-03-31 02695417 c:OrdinaryShareClass1 2023-03-31 02695417 c:OrdinaryShareClass1 2022-03-31 02695417 c:FRS102 2022-04-01 2023-03-31 02695417 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 02695417 c:FullAccounts 2022-04-01 2023-03-31 02695417 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02695417 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 02695417 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 02695417 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 02695417 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 02695417 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02695417










Anderson Securities & Investment Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2023

 
Anderson Securities & Investment Limited
 

Company Information


Directors
Mr P A C Sinker (resigned 2 November 2022)
Mr J R Burgess 
Mrs L A Sinker 
Mrs P A Burgess 




Company secretary
Mrs P A Burgess



Registered number
02695417



Registered office
Unit 1 Waterham Industrial Park
Highstreet Road

Waterham

Faversham

Kent

ME13 9EJ




Accountants
Kreston Reeves LLP
Chartered Accountants

37 St Margaret's Street

Canterbury

Kent

CT1 2TU





 
Anderson Securities & Investment Limited
 

Contents



Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 11


 
Anderson Securities & Investment Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Anderson Securities & Investment Limited for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Anderson Securities & Investment Limited for the year ended 31 March 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Anderson Securities & Investment Limited, as a body, in accordance with the terms of our engagement letter dated 10 November 2022Our work has been undertaken solely to prepare for your approval the financial statements of Anderson Securities & Investment Limited  and state those matters that we have agreed to state to the Board of directors of Anderson Securities & Investment Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Anderson Securities & Investment Limited and its Board of directors, as a body, for our work or for this report. 

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

We have not been instructed to carry out an audit or review of the financial statements of Anderson Securities & Investment 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 financial statements.

  



Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
17 October 2023
Page 1

 
Anderson Securities & Investment Limited
Registered number: 02695417

Balance sheet
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
120,883
176,310

Investments
 5 
58,721
58,721

  
179,604
235,031

Current assets
  

Stocks
 6 
7,938
3,686

Debtors: amounts falling due within one year
 7 
1,067,713
929,699

Cash at bank and in hand
  
25,387
19,506

  
1,101,038
952,891

Creditors: amounts falling due within one year
 8 
(169,769)
(179,513)

Net current assets
  
 
 
931,269
 
 
773,378

Total assets less current liabilities
  
1,110,873
1,008,409

Creditors: amounts falling due after more than one year
  
(53,998)
(68,027)

  

Net assets
  
1,056,875
940,382


Capital and reserves
  

Called up share capital 
 10 
120,000
120,000

Profit and loss account
  
936,875
820,382

  
1,056,875
940,382


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: 




P Burgess
Director
Page 2

 
Anderson Securities & Investment Limited
Registered number: 02695417

Balance sheet (continued)
As at 31 March 2023

Date: 17 October 2023

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
Anderson Securities & Investment Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

1.


General information

Anderson Securities & Investment Limited is a private company limited by shares which was incorporated in England and Wales.
The company’s registered office is Unit 1 Waterham Industrial Park, Highstreet Road, Waterham, Faversham, Kent, ME13 9EJ. 
The financial statements are presented in pound Sterling, and rounded to the nearest pound.

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.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

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.

 
2.4

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.

Page 4

 
Anderson Securities & Investment Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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:

L/Term Leasehold Property
-
5% Straight Line
Plant & machinery
-
Between 10% and 25% Straight Line
Motor vehicles
-
25% Straight Line
Fixtures & fittings
-
Between 10% and 20% Straight Line
Photographic equipment
-
33.33% 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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.6

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

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.

Page 5

 
Anderson Securities & Investment Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Page 6

 
Anderson Securities & Investment Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 7

 
Anderson Securities & Investment Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.12

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

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 balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 8).

Page 8

 
Anderson Securities & Investment Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

4.


Tangible fixed assets





L/Term Leasehold Property
Plant & machinery
Motor vehicles
Fixtures & fittings
Photo equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 April 2022
269,159
1,019,797
125,500
85,689
68,743
1,568,888


Additions
-
489
-
1,336
751
2,576



At 31 March 2023

269,159
1,020,286
125,500
87,025
69,494
1,571,464



Depreciation


At 1 April 2022
197,741
1,002,484
70,747
52,863
68,743
1,392,578


Charge for the year on owned assets
9,994
6,953
27,377
13,429
250
58,003



At 31 March 2023

207,735
1,009,437
98,124
66,292
68,993
1,450,581



Net book value



At 31 March 2023
61,424
10,849
27,376
20,733
501
120,883



At 31 March 2022
71,418
17,313
54,753
32,826
-
176,310


5.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 April 2022
2
58,719
58,721



At 31 March 2023
2
58,719
58,721





6.


Stocks

2023
2022
£
£

Raw materials and consumables
7,938
3,686

7,938
3,686


Page 9

 
Anderson Securities & Investment Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

7.


Debtors

2023
2022
£
£


Trade debtors
43,740
49,651

Amounts owed by group undertakings
1,023,973
880,048

1,067,713
929,699



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
106
106

Corporation tax
38,719
41,230

Other taxation and social security
41,883
42,094

Obligations under finance lease and hire purchase contracts
14,031
13,176

Other creditors
21,389
22,137

Accruals and deferred income
53,641
60,770

169,769
179,513



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
14,031
13,176

Between 1-5 years
53,998
68,029

68,029
81,205


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



120,000 (2022 - 120,000) Ordinary shares of £1.00 each
120,000
120,000


Page 10

 
Anderson Securities & Investment Limited
 

 
Notes to the financial statements
For the Year Ended 31 March 2023

11.


Related party transactions

During the period the company rented property from Waterham Industrial Park Limited, a company under common control by virture of close family ties, in the sum of £159,049 (2022 - £160,367)
At 31 March 2023 the company was owed £1,023,973 (2022 - £880,048) from Waterham Industrial Park Limited. The loan is repayable on demand and is interest free.
At 31 March 2023 the company owed £106 (2022 - £106) to Space Saver Storage Limited, a wholly owned subsidiary of the company. The loan is repayable on demand and is interest free.


Page 11