REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period 1 April 2022 to 30 September 2023 |
for |
SEC Interiors Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Period 1 April 2022 to 30 September 2023 |
for |
SEC Interiors Limited |
SEC Interiors Limited (Registered number: 07543983) |
Contents of the Financial Statements |
For The Period 1 April 2022 to 30 September 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
SEC Interiors Limited |
Company Information |
For The Period 1 April 2022 to 30 September 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
10-12 Mulberry Green |
Old Harlow |
Essex |
CM17 0ET |
SEC Interiors Limited (Registered number: 07543983) |
Statement of Financial Position |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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 Interiors Limited (Registered number: 07543983) |
Statement of Financial Position - continued |
30 September 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
SEC Interiors Limited (Registered number: 07543983) |
Notes to the Financial Statements |
For The Period 1 April 2022 to 30 September 2023 |
1. | STATUTORY INFORMATION |
SEC Interiors Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on ·an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities |
Turnover |
Turnover is derived from one-off jobs and contracts. Turnover from one-off jobs is measured through an internal assessment of work carried out based on time incurred and materials utilised or percentage of completion depending on the nature of the contract. |
Turnover from contracts comprises the fair value of construction carried out in the year, based on an internal assessment of work carried out. Once the outcome of a contract can be estimated reliably, margin is recognised in the statement of income and retained earnings on a stage of contract completion basis by reference to the costs incurred to date and total forecast costs on the contract as a whole. Costs include labour and attributable overheads. |
Losses expected in bringing a contract to completion are recognised immediately. Where the outcome of claims is uncertain, the company only recognises revenue and the associated margin where it is probable that the client will approve the variation. |
Tangible fixed assets |
Improvements to property | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
SEC Interiors Limited (Registered number: 07543983) |
Notes to the Financial Statements - continued |
For The Period 1 April 2022 to 30 September 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments |
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors. |
Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Debtors |
Short terms debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Creditors |
Short term creditors are measured at the transaction price. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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. |
Hire purchase and leasing commitments |
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 period was |
SEC Interiors Limited (Registered number: 07543983) |
Notes to the Financial Statements - continued |
For The Period 1 April 2022 to 30 September 2023 |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2022 |
Additions |
At 30 September 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for period |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Payments on account |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
8. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | - | 4,260 |
SEC Interiors Limited (Registered number: 07543983) |
Notes to the Financial Statements - continued |
For The Period 1 April 2022 to 30 September 2023 |
8. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 April 2022 |
Provided during period | ( |
) |
Balance at 30 September 2023 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 76 | 76 |
Ordinary A | £1 | 24 | 24 |
100 | 100 |