REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
SURECOMP BUSINESS SOLUTIONS LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 4,479,799 |
SHAREHOLDERS' FUNDS |
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 |
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 |
The presentation currency of the financial statements is the US Dollar ($). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. |
Tangible fixed assets |
Computer equipment | - |
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 |
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 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
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. |
for and on behalf of |
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. |