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REGISTERED NUMBER: 11922806 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Secureshield Ltd

Secureshield Ltd (Registered number: 11922806)

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










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 5


Secureshield Ltd

Company Information
for the Year Ended 31st March 2024







DIRECTORS: Mr J Hunter
Mr R W Walker
Mr W D Hunter
Mrs L H Forsyth





REGISTERED OFFICE: 9-18 Ruby Court
Wesley Drive
Benton Square Industrial Estate
Newcastle Upon Tyne
NE12 9UP





REGISTERED NUMBER: 11922806 (England and Wales)





ACCOUNTANTS: McLaughlin Crolla LLP
77/2 Hanover Street
Edinburgh
EH2 1EE

Secureshield Ltd

Report of the Accountants to the Directors of
Secureshield Ltd


The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2024 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






McLaughlin Crolla LLP
77/2 Hanover Street
Edinburgh
EH2 1EE


12th August 2024

Secureshield Ltd (Registered number: 11922806)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 11,000
Tangible assets 5 45,463 51,002
Investments 6 - 51
45,463 62,053

CURRENT ASSETS
Stocks 7 447,319 533,438
Debtors 8 1,738,361 1,764,801
Cash at bank 373,400 231,254
2,559,080 2,529,493
CREDITORS
Amounts falling due within one year 9 2,161,369 2,372,377
NET CURRENT ASSETS 397,711 157,116
TOTAL ASSETS LESS CURRENT LIABILITIES 443,174 219,169

CREDITORS
Amounts falling due after more than one year 10 133,333 258,333
NET ASSETS/(LIABILITIES) 309,841 (39,164 )

CAPITAL AND RESERVES
Called up share capital 42,000 42,000
Retained earnings 267,841 (81,164 )
309,841 (39,164 )

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

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

The directors acknowledge their 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.

Secureshield Ltd (Registered number: 11922806)

Balance Sheet - continued
31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th August 2024 and were signed on its behalf by:





Mr J Hunter - Director


Secureshield Ltd (Registered number: 11922806)

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


1. STATUTORY INFORMATION

Secureshield 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.

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.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Secureshield Ltd (Registered number: 11922806)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties.

Taxation
Taxation for the year 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 balance sheet date.

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.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 66 (2023 - 64 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
Cost
At 1st April 2023
and 31st March 2024 11,000 37,000 48,000
Amortisation
At 1st April 2023 8,479 28,521 37,000
Charge for year 2,521 8,479 11,000
At 31st March 2024 11,000 37,000 48,000
Net book value
At 31st March 2024 - - -
At 31st March 2023 2,521 8,479 11,000

Secureshield Ltd (Registered number: 11922806)

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


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1st April 2023 85,509
Additions 17,546
At 31st March 2024 103,055
Depreciation
At 1st April 2023 34,507
Charge for year 23,085
At 31st March 2024 57,592
Net book value
At 31st March 2024 45,463
At 31st March 2023 51,002

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1st April 2023 51
Impairments (51 )
At 31st March 2024 -
Net book value
At 31st March 2024 -
At 31st March 2023 51

7. STOCKS
2024 2023
£    £   
Stocks 253,372 215,438
Work-in-progress 193,947 318,000
447,319 533,438

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,471,709 1,347,285
Other debtors 83,272 89,151
Directors' loan accounts - 174,000
Prepayments and accrued income 183,380 154,365
1,738,361 1,764,801

Secureshield Ltd (Registered number: 11922806)

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


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 100,000 100,000
Other loans 33,333 33,333
Payments on account 468,600 579,116
Trade creditors 839,595 907,834
Tax 314,326 76,668
Social security and other taxes 176,506 317,265
VAT 169,150 147,425
Other creditors 13,003 14,686
Directors' loan accounts 3,800 -
Accruals and deferred income 43,056 196,050
2,161,369 2,372,377

Payments received on account relate to sums received from Aldermore Bank PLC in respect of book debts assigned to them. Aldermore hold a fixed charge over the book debts and a floating charge over all other assets in respect of liabilities due to them.

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 108,333 200,000
Other loans - 1-2 years 25,000 58,333
133,333 258,333

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 195,033 213,412
Between one and five years 197,713 209,396
392,746 422,808

12. SHARE-BASED PAYMENT TRANSACTIONS

Options have been granted over 6,222 shares of £1 each to four employees of the company. The options have an exercise price of £1 and are only to be exercised in the event of a sale or flotation.