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REGISTERED NUMBER: 08919759 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

SEC Midlands Ltd

SEC Midlands Ltd (Registered number: 08919759)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

SEC Midlands Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: P C Hetherington





REGISTERED OFFICE: 103 Thornbridge Avenue
Great Barr
Birmingham
United Kingdom
B42 2AB





REGISTERED NUMBER: 08919759 (England and Wales)





ACCOUNTANTS: Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD

SEC Midlands Ltd (Registered number: 08919759)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 68,119 57,454

CURRENT ASSETS
Stocks 1,200 1,486
Debtors 5 207,543 102,261
Cash at bank 69,642 100,016
278,385 203,763
CREDITORS
Amounts falling due within one year 6 (145,103 ) (106,616 )
NET CURRENT ASSETS 133,282 97,147
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,401

154,601

CREDITORS
Amounts falling due after more than one
year

7

(31,473

)

(42,160

)

PROVISIONS FOR LIABILITIES (17,030 ) (10,916 )
NET ASSETS 152,898 101,525

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 152,798 101,425
SHAREHOLDERS' FUNDS 152,898 101,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SEC Midlands Ltd (Registered number: 08919759)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 May 2024 and were signed by:





P C Hetherington - Director


SEC Midlands Ltd (Registered number: 08919759)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

SEC Midlands Ltd 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 Pound Sterling (£).


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.

There are no material departures from the standard.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

SEC Midlands Ltd (Registered number: 08919759)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 2,131 6,405 71,311 79,847
Additions 611 802 25,294 26,707
At 31 March 2024 2,742 7,207 96,605 106,554
DEPRECIATION
At 1 April 2023 357 3,100 18,936 22,393
Charge for year 319 521 15,202 16,042
At 31 March 2024 676 3,621 34,138 38,435
NET BOOK VALUE
At 31 March 2024 2,066 3,586 62,467 68,119
At 31 March 2023 1,774 3,305 52,375 57,454

SEC Midlands Ltd (Registered number: 08919759)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 71,311
Additions 25,294
Transfer to ownership (21,850 )
At 31 March 2024 74,755
DEPRECIATION
At 1 April 2023 18,936
Charge for year 12,946
Transfer to ownership (12,825 )
At 31 March 2024 19,057
NET BOOK VALUE
At 31 March 2024 55,698
At 31 March 2023 52,375

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 193,582 86,770
Other debtors 13,961 15,491
207,543 102,261

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,099 9,848
Hire purchase contracts 14,911 14,082
Trade creditors 51,185 38,808
Taxation and social security 28,954 24,859
Other creditors 39,954 19,019
145,103 106,616

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 16,514 26,619
Hire purchase contracts 14,959 15,541
31,473 42,160

SEC Midlands Ltd (Registered number: 08919759)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
45 Ordinary Class A £1 45 45
45 Ordinary Class B £1 45 45
10 Ordinary Class C £1 10 10
100 100

The ordinary A shares, ordinary B shares and ordinary C shares are separate classes for the purpose of declaring dividends. In all other respects these shares rank pari passu.

9. RELATED PARTY DISCLOSURES

P C Hetherington
Director and shareholder


At the 31 March 2024, there is a loan due from the director in the amount of £6,017. This has been repaid to the company in full, subsequent to the year end.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
SEC Midlands Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SEC Midlands Ltd for the year ended 31 March 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of SEC Midlands Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SEC Midlands Ltd and state those matters that we have agreed to state to the director of SEC Midlands Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SEC Midlands Ltd and its director for our work or for this report.

It is your duty to ensure that SEC Midlands Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SEC Midlands Ltd. You consider that SEC Midlands Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SEC Midlands Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Tomkinson Teal (Lichfield) LLP
Hanover Court
5 Queen Street
Lichfield
Staffordshire
WS13 6QD


21 May 2024