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Registration number: 09752527

ISS Group Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

ISS Group Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

ISS Group Ltd

(Registration number: 09752527)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

340,574

263,358

Investments

5

70

70

 

340,644

263,428

Current assets

 

Stocks

6

155,000

113,000

Debtors

7

442,090

361,537

Cash at bank and in hand

 

52,086

409,750

 

649,176

884,287

Creditors: Amounts falling due within one year

8

(321,773)

(63,445)

Net current assets

 

327,403

820,842

Total assets less current liabilities

 

668,047

1,084,270

Creditors: Amounts falling due after more than one year

8

(19,991)

(31,985)

Net assets

 

648,056

1,052,285

Capital and reserves

 

Called up share capital

267

267

Share premium reserve

679,839

679,839

Retained earnings

(32,050)

372,179

Shareholders' funds

 

648,056

1,052,285

 

ISS Group Ltd

(Registration number: 09752527)
Balance Sheet as at 31 August 2023

For the financial year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 

.........................................
R S Kempley
Director

 

ISS Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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:
Unit 3
The Farrowing
Fir Tree Farm Oxford Road
Newbury
Berkshire
RG20 8RT
United Kingdom

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.

Going concern

The directors believe the company has adequate resources to continue in operational existence such that they believe the continued use of the going concern basis to be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the manufacturing of air and spacecraft and related machinery in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

 

ISS Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Office equipment

25% reducing balance basis

Plant and machinery

25% reducing balance basis

Fixtures and fittings

25% reducing balance basis

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.

Debtors

Trade debtors are amounts due from customers for the manufacturing of air and spacecraft and related machinery performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

ISS Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 7).

 

ISS Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 September 2022

31,847

372,143

42,066

446,056

Additions

6,612

131,452

34,665

172,729

Disposals

(839)

-

-

(839)

At 31 August 2023

37,620

503,595

76,731

617,946

Depreciation

At 1 September 2022

17,659

147,468

17,571

182,698

Charge for the year

4,570

78,247

11,874

94,691

Eliminated on disposal

(17)

-

-

(17)

At 31 August 2023

22,212

225,715

29,445

277,372

Carrying amount

At 31 August 2023

15,408

277,880

47,286

340,574

At 31 August 2022

14,188

224,675

24,495

263,358

5

Investments

2023
£

2022
£

Investments in subsidiaries

70

70

Subsidiaries

£

Cost or valuation

At 1 September 2022

70

Provision

Carrying amount

At 31 August 2023

70

At 31 August 2022

70

 

ISS Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

6

Stocks

2023
£

2022
£

Stocks

155,000

113,000

7

Debtors

Current

2023
£

2022
£

Trade debtors

242,195

137,309

Prepayments

21,317

13,580

Other debtors

178,578

210,648

 

442,090

361,537

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

11,395

9,482

Trade creditors

45,306

7,990

Amounts owed to group undertakings and undertakings in which the company has a participating interest

4,887

10,123

Taxation and social security

86,501

24,350

Other creditors

173,684

11,500

321,773

63,445

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

19,991

31,985

 

ISS Group Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

11,395

9,482

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

19,991

31,985

10

Related party transactions

Summary of transactions with directors

R S Kempley (director) had a loan account with the company. At the balance sheet date the amount due to R S Kempley was £220 (2022: £144).

Summary of transactions with all subsidiaries

During the year ISS Group Limited sold services amounting to £nil (2022: £19,608) to ISSOS Technologies Limited (a company controlled by ISS Group Limited). At the balance sheet date the amount owed to ISSOS Technologies Limited was £4,887 (2022 - £10,123).