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COMPANY REGISTRATION NUMBER: 5469753
Security Techniques UK Limited
Unaudited financial statements
For the year ended
30 June 2023
Security Techniques UK Limited
Statement of financial position
30 June 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
10,000
15,000
Tangible assets
6
24,588
35,605
Investments
7
1
1
-------
-------
34,589
50,606
Current assets
Stocks
28,445
25,334
Debtors
8
55,176
56,206
Cash at bank and in hand
294,454
238,270
---------
---------
378,075
319,810
Creditors: Amounts falling due within one year
9
( 92,454)
( 101,940)
---------
---------
Net current assets
285,621
217,870
---------
---------
Total assets less current liabilities
320,210
268,476
Provisions
Taxation including deferred tax
( 3,732)
( 5,141)
---------
---------
Net assets
316,478
263,335
---------
---------
Capital and reserves
Called up share capital
10
80
80
Revaluation reserve
25,013
25,013
Capital redemption reserve
20
20
Profit and loss account
291,365
238,222
---------
---------
Shareholders funds
316,478
263,335
---------
---------
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 income statement has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Security Techniques UK Limited
Statement of financial position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 24 January 2024 , and are signed on behalf of the board by:
Mr R Lawrie
Director
Company registration number: 5469753
Security Techniques UK Limited
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 Church Road, Wroxham, Norfolk, Norwich, NR12 8UG.
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
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Income tax
Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
15% - 25% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of employees during the year was 10 (2022: 11 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2022 and 30 June 2023
100,000
---------
Amortisation
At 1 July 2022
85,000
Charge for the year
5,000
---------
At 30 June 2023
90,000
---------
Carrying amount
At 30 June 2023
10,000
---------
At 30 June 2022
15,000
---------
6. Tangible assets
Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 July 2022
56,116
14,950
71,066
Additions
4,125
4,125
Disposals
( 2,704)
( 14,950)
( 17,654)
-------
-------
-------
At 30 June 2023
57,537
57,537
-------
-------
-------
Depreciation
At 1 July 2022
30,556
4,905
35,461
Charge for the year
5,097
5,097
Disposals
( 2,704)
( 4,905)
( 7,609)
-------
-------
-------
At 30 June 2023
32,949
32,949
-------
-------
-------
Carrying amount
At 30 June 2023
24,588
24,588
-------
-------
-------
At 30 June 2022
25,560
10,045
35,605
-------
-------
-------
7. Investments
Other investments other than loans
£
Cost
At 1 July 2022 and 30 June 2023
1
----
Impairment
At 1 July 2022 and 30 June 2023
----
Carrying amount
At 30 June 2023
1
----
At 30 June 2022
1
----
The company owns 100% of the issued share capital of Dragon Security Systems Limited, a company registered in England. The company has remained dormant throughout the year, its aggregate capital and reserves is £1.
8. Debtors
2023
2022
£
£
Trade debtors
54,532
38,337
Other debtors
644
17,869
-------
-------
55,176
56,206
-------
-------
9. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
30,127
56,421
Accruals and deferred income
3,900
3,445
Corporation tax
24,558
8,338
Social security and other taxes
21,748
31,831
Other creditors
12,121
1,905
-------
---------
92,454
101,940
-------
---------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
80
80
80
80
----
----
----
----