Registered number
10703847
Seculink Limited
Filleted Accounts
30 April 2023
Seculink Limited
Registered number: 10703847
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 1,359,827 1,650,476
Cash at bank and in hand 1,818,237 1,869,602
3,178,064 3,520,078
Creditors: amounts falling due within one year 4 (2,679,244) (3,034,861)
Net current assets 498,820 485,217
Total assets less current liabilities 498,820 485,217
Creditors: amounts falling due after more than one year 5 (43,383) (48,897)
Net assets 455,437 436,320
Capital and reserves
Called up share capital 2 2
Profit and loss account 455,435 436,318
Shareholder's funds 455,437 436,320
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Elias Lazaris
Director
Approved by the board on 19 January 2024
Seculink Limited
Notes to the Accounts
for the year ended 30 April 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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Debtors 2023 2022
£ £
Trade debtors 666,479 1,650,476
Other debtors 693,348 -
1,359,827 1,650,476
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 9,149 21,598
Taxation and social security costs - 1,063
Other creditors 2,670,095 3,012,200
2,679,244 3,034,861
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 43,383 48,897
6 Related party transactions
Other creditors at the year end include amount of £2,667,695 (2022: £3009,800) due to the director Elias Lazaris. Amount is unsecured, interest free and repayable on demand.
7 Controlling party
The ultimate controlling party is Elias Lazaris by virtue of his 100% shareholding in the company.
8 Other information
Seculink Limited is a private company limited by shares and incorporated in England. Its registered office is:
22 Notthing Hill Gate
London
England W11 3JE
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