Securewest International (Risk Management) Limited 04075026 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the provision of security services. Digita Accounts Production Advanced 6.30.9574.0 true 04075026 2023-04-01 2024-03-31 04075026 2024-03-31 04075026 core:RetainedEarningsAccumulatedLosses 2024-03-31 04075026 core:ShareCapital 2024-03-31 04075026 core:CurrentFinancialInstruments 2024-03-31 04075026 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04075026 core:FurnitureFittingsToolsEquipment 2024-03-31 04075026 core:OtherPropertyPlantEquipment 2024-03-31 04075026 bus:SmallEntities 2023-04-01 2024-03-31 04075026 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04075026 bus:FullAccounts 2023-04-01 2024-03-31 04075026 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04075026 bus:RegisteredOffice 2023-04-01 2024-03-31 04075026 bus:Director1 2023-04-01 2024-03-31 04075026 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04075026 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04075026 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 04075026 core:PlantMachinery 2023-04-01 2024-03-31 04075026 countries:EnglandWales 2023-04-01 2024-03-31 04075026 2023-03-31 04075026 core:FurnitureFittingsToolsEquipment 2023-03-31 04075026 core:OtherPropertyPlantEquipment 2023-03-31 04075026 2022-04-01 2023-03-31 04075026 2023-03-31 04075026 core:RetainedEarningsAccumulatedLosses 2023-03-31 04075026 core:ShareCapital 2023-03-31 04075026 core:CurrentFinancialInstruments 2023-03-31 04075026 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04075026 core:FurnitureFittingsToolsEquipment 2023-03-31 04075026 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04075026

Securewest International (Risk Management) Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Securewest International (Risk Management) Limited
(Registration number: 04075026)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Securewest International (Risk Management) Limited
(Registration number: 04075026)

Company Information

Director

Mr J Casson MBE

Registered office

Woodlands House
45 Estover Close
Plymouth
Devon
PL6 7PL

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Securewest International (Risk Management) Limited
(Registration number: 04075026)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

161

622

Current assets

 

Debtors

5

170,989

198,185

Cash at bank and in hand

 

6,584

44,565

 

177,573

242,750

Creditors: Amounts falling due within one year

6

(129,401)

(235,659)

Net current assets

 

48,172

7,091

Total assets less current liabilities

 

48,333

7,713

Provisions for liabilities

(31)

-

Net assets

 

48,302

7,713

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

48,202

7,613

Total equity

 

48,302

7,713

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 August 2024
 

.........................................
Mr J Casson MBE
Director

 

Securewest International (Risk Management) Limited
(Registration number: 04075026)

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Woodlands House
45 Estover Close
Plymouth
Devon
PL6 7PL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Securewest International (Risk Management) Limited
(Registration number: 04075026)

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Securewest International (Risk Management) Limited
(Registration number: 04075026)

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 10).

 

Securewest International (Risk Management) Limited
(Registration number: 04075026)

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

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

5,458

1,843

7,301

At 31 March 2024

5,458

1,843

7,301

Depreciation

At 1 April 2023

5,458

1,221

6,679

Charge for the year

-

461

461

At 31 March 2024

5,458

1,682

7,140

Carrying amount

At 31 March 2024

-

161

161

At 31 March 2023

-

622

622

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

109,460

38,340

Amounts owed by group undertakings and undertakings in which the company has a participating interest

54,287

117,364

Other debtors

 

1,474

1,862

Prepayments and accrued income

 

5,768

40,619

Total current trade and other debtors

 

170,989

198,185

 

Securewest International (Risk Management) Limited
(Registration number: 04075026)

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

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

5,000

45,000

Trade creditors

 

59,156

39,699

Taxation and social security

 

60,239

36,434

Other creditors

 

2,506

105,166

Accrued expenses

 

2,500

2,500

Deferred income

 

-

6,860

 

129,401

235,659

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

5,000

45,000