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REGISTERED NUMBER: 03357980 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COMPUTER SECURITY TECHNOLOGY LTD.

COMPUTER SECURITY TECHNOLOGY LTD. (REGISTERED NUMBER: 03357980)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMPUTER SECURITY TECHNOLOGY LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr N L A Lewis
Mrs M A Lewis





SECRETARY: Mrs M A Lewis





REGISTERED OFFICE: 50 Seymour Street
London
London
W1H 7JG





REGISTERED NUMBER: 03357980 (England and Wales)





ACCOUNTANTS: Orcom Civvals Limited
Accountants
50 Seymour Street
London
W1H 7JG

COMPUTER SECURITY TECHNOLOGY LTD. (REGISTERED NUMBER: 03357980)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,584 5,168
Investments 5 400,000 500,000
408,584 505,168

CURRENT ASSETS
Debtors 6 306,326 314,452
Cash at bank and in hand 479,733 706,912
786,059 1,021,364
CREDITORS
Amounts falling due within one year 7 304,505 520,953
NET CURRENT ASSETS 481,554 500,411
TOTAL ASSETS LESS CURRENT
LIABILITIES

890,138

1,005,579

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 9 890,136 1,005,577
SHAREHOLDERS' FUNDS 890,138 1,005,579

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

COMPUTER SECURITY TECHNOLOGY LTD. (REGISTERED NUMBER: 03357980)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





Mr N L A Lewis - Director


COMPUTER SECURITY TECHNOLOGY LTD. (REGISTERED NUMBER: 03357980)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Computer Security Technology 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.

Preparation of consolidated financial statements
The financial statements contain information about Computer Security Technology Ltd. as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are stated at cost less provisions for impairment. Carrying values are reviewed for impairment either annually, or more frequently if events or changes in circumstances indicate a possible decline in carrying values.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost

COMPUTER SECURITY TECHNOLOGY LTD. (REGISTERED NUMBER: 03357980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Leases
Rentals payable under operating leases are charged to profit or loss on a straight-line basis over the lease term, unless the rental payments are structured to increase in line with expected general inflation, in which case the company recognises annual rent expense to amounts owed to the lessor.

The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight line basis.

Pension costs
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Contributions to the company's pension scheme are charged to the profit or loss in the period to which they relate.

Debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised at the undiscounted amount of cash receivable, which is normally the invoice price, less any allowance for doubtful debts.

Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised at the undiscounted amount owed to the supplier, which is normally the invoice price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 9 ) .

COMPUTER SECURITY TECHNOLOGY LTD. (REGISTERED NUMBER: 03357980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 31,948 56,964 88,912
Additions - 7,465 7,465
At 31 December 2023 31,948 64,429 96,377
DEPRECIATION
At 1 January 2023 30,007 53,737 83,744
Charge for year 485 3,564 4,049
At 31 December 2023 30,492 57,301 87,793
NET BOOK VALUE
At 31 December 2023 1,456 7,128 8,584
At 31 December 2022 1,941 3,227 5,168

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 583,903
PROVISIONS
At 1 January 2023 83,903
Provision for year 100,000
At 31 December 2023 183,903
NET BOOK VALUE
At 31 December 2023 400,000
At 31 December 2022 500,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 134,825 211,745
Amounts owed by group undertakings 74,569 96,467
Other debtors 7,866 6,240
Directors' current accounts 89,066 -
306,326 314,452

COMPUTER SECURITY TECHNOLOGY LTD. (REGISTERED NUMBER: 03357980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 206,154 423,118
Amounts owed to group undertakings 15,170 16,145
Tax 36,678 19,992
Social security and other taxes 11,245 9,308
VAT 4,482 19,227
Other creditors 1,387 1,402
Directors' current accounts - 575
Accruals and deferred income 29,389 31,186
304,505 520,953

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Retained
earnings
£   

At 1 January 2023 1,005,577
Profit for the year 48,559
Dividends (164,000 )
At 31 December 2023 890,136

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The loan to the directors was provided at an interest rate of 2.25% ,and will be fully repaid within 9 months after the year end.

11. ULTIMATE CONTROLLING PARTY

International Computer Security Holdings Limited is the parent company and controls the company by virtue of its 100% shareholdings. It is a private company, limited by shares, registered in England and Wales. Its principal place of business is 8 Lovat Lane, London, EC3R 8DW.

Mr N L A Lewis and Mrs M A Lewis are the ultimate controlling parties by virtue of their 100% shareholding in the parent undertaking.