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REGISTERED NUMBER: 02918978 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2023

for

Vizsec (UK) Limited

Vizsec (UK) Limited (Registered number: 02918978)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Vizsec (UK) Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: AKK Lal
B Lal
R Waldron
S Bland
A E Dawson





REGISTERED OFFICE: Vizsec House
Robson Avenue
Teesside Industrial Estate
Thornaby on Tees
Cleveland
TS17 9LS





REGISTERED NUMBER: 02918978 (England and Wales)





ACCOUNTANT: Ann Travis Accountancy Services
9 Sherburn Terrace
Wrekenton
Gateshead
Tyne and Wear
NE9 7AQ

Vizsec (UK) Limited (Registered number: 02918978)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 111,259 33,960
111,259 33,960

CURRENT ASSETS
Stocks 89,743 82,186
Debtors 6 852,753 661,428
Cash at bank and in hand 263,765 133,959
1,206,261 877,573
CREDITORS
Amounts falling due within one year 7 400,378 215,482
NET CURRENT ASSETS 805,883 662,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

917,142

696,051

PROVISIONS FOR LIABILITIES 21,139 11,207
NET ASSETS 896,003 684,844

CAPITAL AND RESERVES
Called up share capital 45,000 45,000
Retained earnings 851,003 639,844
SHAREHOLDERS' FUNDS 896,003 684,844

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Vizsec (UK) Limited (Registered number: 02918978)

Balance Sheet - continued
30 April 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:




A E Dawson - Director



R Waldron - Director


Vizsec (UK) Limited (Registered number: 02918978)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Vizsec (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1995, is being amortised evenly over its estimated useful life of five years.

Goodwill is the difference between the amount paid on the acquisition of Visual Security Systems and the aggregate fair value of its separable net assets.It is being written off in equal annual instalments over five years from 1st May 1995.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.


Motor vehicles25% reducing balance basis
Fixtures and fittings25% reducing balance basis
Plant and machinery25% reducing balance basis

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred 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.


Vizsec (UK) Limited (Registered number: 02918978)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 31,000
AMORTISATION
At 1 May 2022
and 30 April 2023 31,000
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 -

Vizsec (UK) Limited (Registered number: 02918978)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2022 272,793
Additions 113,875
At 30 April 2023 386,668
DEPRECIATION
At 1 May 2022 238,833
Charge for year 36,576
At 30 April 2023 275,409
NET BOOK VALUE
At 30 April 2023 111,259
At 30 April 2022 33,960

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2022
and 30 April 2023 86,013
DEPRECIATION
At 1 May 2022
and 30 April 2023 46,689
NET BOOK VALUE
At 30 April 2023 39,324
At 30 April 2022 39,324

6. DEBTORS
30.4.23 30.4.22
£    £   
Amounts falling due within one year:
Trade debtors 207,497 116,348

Vizsec (UK) Limited (Registered number: 02918978)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

6. DEBTORS - continued
30.4.23 30.4.22
£    £   
Amounts falling due after more than one year:
Amounts owed by group undertakings 645,256 545,080

Aggregate amounts 852,753 661,428

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 76,574 51,573
Trade creditors 198,398 106,228
Taxation and social security 110,933 54,473
Other creditors 14,473 3,208
400,378 215,482

Bank loans are secured by fixed and floating charges over the company's assets.
Other creditors are secured by way of a debenture on all freehold and leasehold property.