Registered number
05977038
More Secure Limited
Filleted Accounts
31 March 2023
More Secure Limited
Registered number: 05977038
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 13,225 17,198
Investments 4 20,000 20,000
33,225 37,198
Current assets
Debtors 5 152,903 100,441
Investments held as current assets 6 54,250 54,250
Cash at bank and in hand 207,244 203,511
414,397 358,202
Creditors: amounts falling due within one year 7 (153,651) (123,460)
Net current assets 260,746 234,742
Total assets less current liabilities 293,971 271,940
Creditors: amounts falling due after more than one year 8 (271) (35,430)
Net assets 293,700 236,510
Capital and reserves
Called up share capital 100 100
Profit and loss account 293,600 236,410
Shareholders' funds 293,700 236,510
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Clint Andrew Dunkley
Director
Approved by the board on 7 November 2023
More Secure Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 9,500 9,404 52,000 70,904
Additions - 333 - 333
At 31 March 2023 9,500 9,737 52,000 71,237
Depreciation
At 1 April 2022 9,099 7,346 37,261 53,706
Charge for the year 100 521 3,685 4,306
At 31 March 2023 9,199 7,867 40,946 58,012
Net book value
At 31 March 2023 301 1,870 11,054 13,225
At 31 March 2022 401 2,058 14,739 17,198
4 Investments
Other
investments
£
Cost
At 1 April 2022 20,000
At 31 March 2023 20,000
5 Debtors 2023 2022
£ £
Trade debtors 145,667 95,289
Deferred tax asset 4,016 3,678
Other debtors 3,220 1,474
152,903 100,441
6 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 54,250 54,250
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 10,648
Trade creditors 40 3,515
Taxation and social security costs 51,841 38,508
Other creditors 101,770 70,789
153,651 123,460
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 35,430
Other creditors 271 -
271 35,430
9 Other information
More Secure Limited is a private company limited by shares and incorporated in England. Its registered office is:
73 St. Thomas Road
Birmingham
B23 7RQ
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