Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-283No description of principal activity3false2022-03-01truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08091061 2022-03-01 2023-02-28 08091061 2021-03-01 2022-02-28 08091061 2023-02-28 08091061 2022-02-28 08091061 c:Director1 2022-03-01 2023-02-28 08091061 c:Director2 2022-03-01 2023-02-28 08091061 d:CurrentFinancialInstruments 2023-02-28 08091061 d:CurrentFinancialInstruments 2022-02-28 08091061 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08091061 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 08091061 d:ShareCapital 2023-02-28 08091061 d:ShareCapital 2022-02-28 08091061 d:RetainedEarningsAccumulatedLosses 2023-02-28 08091061 d:RetainedEarningsAccumulatedLosses 2022-02-28 08091061 c:OrdinaryShareClass1 2022-03-01 2023-02-28 08091061 c:OrdinaryShareClass1 2023-02-28 08091061 c:OrdinaryShareClass1 2022-02-28 08091061 c:FRS102 2022-03-01 2023-02-28 08091061 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 08091061 c:FullAccounts 2022-03-01 2023-02-28 08091061 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 08091061 6 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08091061









SW SECURITY SOLUTIONS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
SW SECURITY SOLUTIONS LTD
REGISTERED NUMBER: 08091061

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,444
1,444

Current assets
  

Debtors: amounts falling due within one year
 5 
950,951
925,891

Cash at bank and in hand
  
1,573
2,255

  
952,524
928,146

Creditors: amounts falling due within one year
 6 
(68,992)
(26,608)

Net current assets
  
 
 
883,532
 
 
901,538

  

Net assets
  
884,976
902,982


Capital and reserves
  

Called up share capital 
 7 
109
109

Profit and loss account
  
884,867
902,873

  
884,976
902,982


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.

Page 1

 
SW SECURITY SOLUTIONS LTD
REGISTERED NUMBER: 08091061
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

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



Allan Ben Waisman
Roy Freedman
Director
Director


Date: 16 November 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
SW SECURITY SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

SW Security Solutions Ltd ("the company") is a private company limited by shares, incorporated in England and Wales. Its registration number is 08091061. The registered office is Group House, 703 High Road, London, N12 0BT.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

The following principal accounting policies have been applied:

  
2.2

Investments in associates

Investments in associates are held at cost less impairment. 

 
2.3

Going concern

The financial statements have been prepared on a going concern basis.

  
2.4

Revenue recognition

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:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction or contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred or to be incurred in respect of the transaction or contract, and the costs to complete the contract, can be measured reliably.
The company supplies and fits security systems and provides maintenance contracts for these systems. Revenue is recognised as follows:
- Revenue for the sale of security systems is recognised when the systems have been delivered to the customer.
- Revenue for the fit of security systems is recognised once the systems have been successfully installed.
- Maintenance contract income is recognised over the period of the contract.

Page 3

 
SW SECURITY SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

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.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

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.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4

 
SW SECURITY SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

Taxation

Tax is recognised in the Statement of income and retained earnings 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 3 (2022 - 3).


4.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost


At 1 March 2022
1,444
-
1,444


Transfers intra group
(1,444)
1,444
-



At 28 February 2023
-
1,444
1,444




Page 5

 
SW SECURITY SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
925,815
925,465

Other debtors
24,717
9

Prepayments and accrued income
419
417

950,951
925,891



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,000
-

Other creditors
65,492
26,108

Accruals and deferred income
500
500

68,992
26,608



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,890 (2022 - 10,890) Ordinary shares of £0.01 each
109
109



8.


Transactions with directors

During the year, the company advanced £23,480 (2022 - £Nil) to directors. Interest has been charged on these advances at the official HM Revenue & Customs beneficial loans rate. At the balance sheet date, the company was owed £23,642 (2022 - £Nil) by directors.


9.


Related party transactions

At the balance sheet date, the company was owed £925,815 (2022 - £925,465) by parent undertakings.

 
Page 6