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REGISTERED NUMBER: 04027496 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SURECOMP BUSINESS SOLUTIONS LIMITED

SURECOMP BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04027496)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 3


SURECOMP BUSINESS SOLUTIONS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: Mr J I Koschitzky
Mr A Soward





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 04027496 (England and Wales)





AUDITORS: Raffingers LLP, Statutory Auditor
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

SURECOMP BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04027496)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
as restated
Notes $    $    $    $   
FIXED ASSETS
Tangible assets 4 11,091 7,417
Investments 5 11,021,129 11,021,129
11,032,220 11,028,546

CURRENT ASSETS
Debtors 369,105 1,133,744
Cash at bank and in hand 1,153,492 451,532
1,522,597 1,585,276
CREDITORS
Amounts falling due within one year 780,941 269,854
NET CURRENT ASSETS 741,656 1,315,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,773,876

12,343,968

CAPITAL AND RESERVES
Called up share capital 7,864,169 7,864,169
Retained earnings 3,909,707 4,479,799
SHAREHOLDERS' FUNDS 11,773,876 12,343,968

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:





Mr J I Koschitzky - Director


SURECOMP BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04027496)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Surecomp Business Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the US Dollar ($).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% - 50% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost, less diminution in value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

SURECOMP BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04027496)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Items included in the financial statements of the company are measured using the currency in which the consolidated accounts are prepared (USD), although the functional currency of the company is GBP.

Assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. Transactions are translated at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Related parties
For the purposes of these financial statements, a party is considered to be related to the company if:
- the party has the ability, directly or indirectly, through one or more intermediaries, to control the Company or exercise significant influence over the company in making financial and operating policy decisions, or has joint control over the company; or
- the company and the party are subject to common control; or
- the party is an associate of the company or a joint venture in which the company is a venturer; or
- the party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals; or
- the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals; or
- the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company; or
- the party, or any member of a group of which it is part, provides key management personnel services to the company or its parent.

Going concern
The directors have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The directors have made this assessment in respect to a period of one year from the date of approval of these accounts.

The directors have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors are of the opinion that the company will have sufficient resources to meet its liabilities as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

SURECOMP BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04027496)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Totals
$   
COST
At 1 January 2023 42,231
Additions 7,425
At 31 December 2023 49,656
DEPRECIATION
At 1 January 2023 34,814
Charge for year 3,751
At 31 December 2023 38,565
NET BOOK VALUE
At 31 December 2023 11,091
At 31 December 2022 7,417

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
$   
COST
At 1 January 2023
and 31 December 2023 11,021,129
NET BOOK VALUE
At 31 December 2023 11,021,129
At 31 December 2022 11,021,129

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Adam Howard Moody FCCA (Senior Statutory Auditor)
for and on behalf of Raffingers LLP, Statutory Auditor

7. CONTINGENT LIABILITIES

There were no contingent liabilities at the end of the financial year.

8. CAPITAL COMMITMENTS

The company had no capital commitments at 31 December 2023 or 31 December 2022.

SURECOMP BUSINESS SOLUTIONS LIMITED (REGISTERED NUMBER: 04027496)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. AUDITOR LIABILITY LIMITATION AGREEMENT

The company has entered into a liability limitation agreement with Raffingers, the statutory auditor, in respect of the statutory audit for the year ended 31 December 2023. The proportionate liability agreement follows the standard terms in Appendix 1 to the Financial Reporting Council's June 2008 Guidance on Auditor Liability Agreements, and was approved by the members on 9 November 2023.