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COMPANY REGISTRATION NUMBER: 07162135
Really Secure Company UK Ltd
Filleted Financial Statements
30 June 2023
Really Secure Company UK Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
54,970
98,508
Current assets
Stocks
311,434
224,950
Debtors
6
475,300
402,686
Cash at bank and in hand
82,033
190,530
---------
---------
868,767
818,166
Creditors: amounts falling due within one year
7
225,720
167,607
---------
---------
Net current assets
643,047
650,559
---------
---------
Total assets less current liabilities
698,017
749,067
Provisions
Taxation including deferred tax
12,580
15,255
---------
---------
Net assets
685,437
733,812
---------
---------
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss account
635,437
683,812
---------
---------
Shareholder funds
685,437
733,812
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
These financial statements were approved by the board of directors and authorised for issue on 6 September 2023 , and are signed on behalf of the board by:
T M Dennison
Director
Company registration number: 07162135
Really Secure Company UK Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Regent House, Bath Avenue, Wolverhampton, WV1 4EG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(d) Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% cost
Fixtures & Fittings
-
15% cost
Motor Vehicles
-
25% cost
IT equipment
-
33% cost
(g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
(h) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(i) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(j) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 10 ).
5. Tangible assets
Short leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Jul 2022
11,382
123,842
7,041
44,132
16,694
203,091
Additions
4,900
4,900
Disposals
( 2,350)
( 17,681)
( 20,031)
--------
---------
--------
--------
--------
---------
At 30 Jun 2023
11,382
121,492
11,941
26,451
16,694
187,960
--------
---------
--------
--------
--------
---------
Depreciation
At 1 Jul 2022
3,292
56,775
1,929
31,533
11,054
104,583
Charge for the year
1,708
26,965
1,363
3,315
5,509
38,860
Disposals
( 2,056)
( 8,397)
( 10,453)
--------
---------
--------
--------
--------
---------
At 30 Jun 2023
5,000
81,684
3,292
26,451
16,563
132,990
--------
---------
--------
--------
--------
---------
Carrying amount
At 30 Jun 2023
6,382
39,808
8,649
131
54,970
--------
---------
--------
--------
--------
---------
At 30 Jun 2022
8,090
67,067
5,112
12,599
5,640
98,508
--------
---------
--------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
417,312
325,234
Amounts owed by group undertakings
436
3,555
Prepayments and accrued income
34,083
23,312
Other debtors
23,469
50,585
---------
---------
475,300
402,686
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
39,671
30,932
Amounts owed to group undertakings
141,177
61,179
Accruals and deferred income
561
7,578
Corporation tax
1,600
51,700
Social security and other taxes
39,218
13,678
Other creditors
3,493
2,540
---------
---------
225,720
167,607
---------
---------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
51,939
33,205
Later than 1 year and not later than 5 years
124,690
77,623
---------
---------
176,629
110,828
---------
---------
9. Summary audit opinion
The auditor's report dated 6 September 2023 was unqualified .
The senior statutory auditor was T P Brueton BA FCA , for and on behalf of Muras Baker Jones Limited .
10. Controlling party
The company is a wholly owned subsidiary undertaking of Trellidor UK Limited , a company incorporated in England & Wales. Trellidor UK Limited is a wholly owned subsidiary of Trellidor Holdings Ltd a company registered in South Africa. Trellidor Holdings Ltd produces group accounts and its registered office is 20 Aberdare Drive, Phoenix Industrial Park, Durban, South Africa.