IRIS Accounts Production v24.1.0.578 07543983 director 1.4.22 30.9.23 30.9.23 false true false false true false Ordinary 1.00000 Ordinary A 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure075439832022-03-31075439832023-09-30075439832022-04-012023-09-30075439832021-03-31075439832021-04-012022-03-31075439832022-03-3107543983ns16:EnglandWales2022-04-012023-09-3007543983ns15:PoundSterling2022-04-012023-09-3007543983ns11:Director12022-04-012023-09-3007543983ns11:PrivateLimitedCompanyLtd2022-04-012023-09-3007543983ns11:SmallEntities2022-04-012023-09-3007543983ns11:AuditExempt-NoAccountantsReport2022-04-012023-09-3007543983ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-09-3007543983ns11:SmallCompaniesRegimeForAccounts2022-04-012023-09-3007543983ns11:FullAccounts2022-04-012023-09-3007543983ns11:OrdinaryShareClass12022-04-012023-09-3007543983ns11:OrdinaryShareClass22022-04-012023-09-3007543983ns11:Director22022-04-012023-09-3007543983ns11:RegisteredOffice2022-04-012023-09-3007543983ns6:CurrentFinancialInstruments2023-09-3007543983ns6:CurrentFinancialInstruments2022-03-3107543983ns6:Non-currentFinancialInstruments2023-09-3007543983ns6:Non-currentFinancialInstruments2022-03-3107543983ns6:ShareCapital2023-09-3007543983ns6:ShareCapital2022-03-3107543983ns6:SharePremium2023-09-3007543983ns6:SharePremium2022-03-3107543983ns6:RetainedEarningsAccumulatedLosses2023-09-3007543983ns6:RetainedEarningsAccumulatedLosses2022-03-3107543983ns6:LeaseholdImprovements2022-04-012023-09-3007543983ns6:FurnitureFittings2022-04-012023-09-3007543983ns6:ComputerEquipment2022-04-012023-09-3007543983ns6:LeaseholdImprovements2022-03-3107543983ns6:FurnitureFittings2022-03-3107543983ns6:ComputerEquipment2022-03-3107543983ns6:LeaseholdImprovements2023-09-3007543983ns6:FurnitureFittings2023-09-3007543983ns6:ComputerEquipment2023-09-3007543983ns6:LeaseholdImprovements2022-03-3107543983ns6:FurnitureFittings2022-03-3107543983ns6:ComputerEquipment2022-03-3107543983ns6:WithinOneYearns6:CurrentFinancialInstruments2023-09-3007543983ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3107543983ns6:DeferredTaxation2022-03-3107543983ns6:DeferredTaxation2022-04-012023-09-3007543983ns6:DeferredTaxation2023-09-3007543983ns11:OrdinaryShareClass12023-09-3007543983ns11:OrdinaryShareClass22023-09-30
REGISTERED NUMBER: 07543983 (England and Wales)

















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: S D Watts
Mrs V Beck





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 07543983 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
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 13,755 22,420

CURRENT ASSETS
Stocks 856,239 400,000
Debtors 5 346,335 1,084,257
Cash at bank and in hand 247 40,651
1,202,821 1,524,908
CREDITORS
Amounts falling due within one year 6 1,013,314 1,250,266
NET CURRENT ASSETS 189,507 274,642
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,262

297,062

CREDITORS
Amounts falling due after more than one
year

7

(99,570

)

(231,910

)

PROVISIONS FOR LIABILITIES 8 - (4,260 )
NET ASSETS 103,692 60,892

CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium 135 135
Retained earnings 103,457 60,657
SHAREHOLDERS' FUNDS 103,692 60,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





S D Watts - Director


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 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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 9 (2022 - 10 ) .

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 14,533 65,283 15,157 94,973
Additions - - 1,061 1,061
At 30 September 2023 14,533 65,283 16,218 96,034
DEPRECIATION
At 1 April 2022 14,533 45,011 13,009 72,553
Charge for period - 7,609 2,117 9,726
At 30 September 2023 14,533 52,620 15,126 82,279
NET BOOK VALUE
At 30 September 2023 - 12,663 1,092 13,755
At 31 March 2022 - 20,272 2,148 22,420

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 269,539 925,308
Other debtors 76,796 158,949
346,335 1,084,257

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 97,031 -
Payments on account 73,382 -
Trade creditors 360,866 664,407
Taxation and social security 302,309 324,165
Other creditors 179,726 261,694
1,013,314 1,250,266

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 99,570 231,910

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 4,260
Provided during period (4,260 )
Balance at 30 September 2023 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
76 Ordinary £1 76 76
24 Ordinary A £1 24 24
100 100