Registration number:
ISS Group Ltd
for the Year Ended 31 August 2023
ISS Group Ltd
(Registration number: 09752527)
Balance Sheet as at 31 August 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
267 |
267 |
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Share premium reserve |
679,839 |
679,839 |
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Retained earnings |
(32,050) |
372,179 |
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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:
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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
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ISS Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
ISS Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Total |
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Cost or valuation |
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At 1 September 2022 |
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Additions |
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Disposals |
( |
- |
- |
( |
At 31 August 2023 |
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Depreciation |
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At 1 September 2022 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
- |
( |
At 31 August 2023 |
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Carrying amount |
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At 31 August 2023 |
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At 31 August 2022 |
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Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 September 2022 |
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Provision |
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Carrying amount |
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At 31 August 2023 |
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At 31 August 2022 |
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ISS Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Stocks |
2023 |
2022 |
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Stocks |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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ISS Group Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023
Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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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).