IRIS Accounts Production v24.2.0.383 13575875 director 1.1.23 31.12.23 31.12.23 12.9.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh135758752022-12-31135758752023-12-31135758752023-01-012023-12-31135758752021-12-31135758752022-01-012022-12-31135758752022-12-3113575875ns15:EnglandWales2023-01-012023-12-3113575875ns14:PoundSterling2023-01-012023-12-3113575875ns10:Director12023-01-012023-12-3113575875ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3113575875ns10:SmallEntities2023-01-012023-12-3113575875ns10:Audited2023-01-012023-12-3113575875ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3113575875ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113575875ns10:FullAccounts2023-01-012023-12-3113575875ns5:CurrentFinancialInstruments2023-12-3113575875ns5:CurrentFinancialInstruments2022-12-3113575875ns5:ShareCapital2023-12-3113575875ns5:ShareCapital2022-12-3113575875ns5:FurtherSpecificReserve1ComponentTotalEquity2023-12-3113575875ns5:FurtherSpecificReserve1ComponentTotalEquity2022-12-3113575875ns5:RetainedEarningsAccumulatedLosses2023-12-3113575875ns5:RetainedEarningsAccumulatedLosses2022-12-3113575875ns10:RegisteredOffice2023-01-012023-12-3113575875ns5:PlantMachinery2023-01-012023-12-3113575875ns5:PlantMachinery2022-12-3113575875ns5:PlantMachinery2023-12-3113575875ns5:PlantMachinery2022-12-3113575875ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3113575875ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 13575875 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SECURITYSCORECARD UK LIMITED

SECURITYSCORECARD UK LIMITED (REGISTERED NUMBER: 13575875)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2


SECURITYSCORECARD UK LIMITED (REGISTERED NUMBER: 13575875)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 5 2,186 10,880

CURRENT ASSETS
Debtors 6 548,142 208,047
Cash at bank 174,231 652,182
722,373 860,229
CREDITORS
Amounts falling due within one year 7 (282,490 ) (640,219 )
NET CURRENT ASSETS 439,883 220,010
TOTAL ASSETS LESS CURRENT
LIABILITIES

442,069

230,890

PROVISIONS FOR LIABILITIES (161 ) -
NET ASSETS 441,908 230,890

CAPITAL AND RESERVES
Called up share capital 100 100
Capital contribution reserve 101,602 35,746
Retained earnings 340,206 195,044
441,908 230,890

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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 September 2024 and were signed by:





O O Denby - Director


SECURITYSCORECARD UK LIMITED (REGISTERED NUMBER: 13575875)

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


1. STATUTORY INFORMATION

Securityscorecard UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13575875

Registered office: 4th Floor, St James House
St. James Square
Cheltenham
GL50 3PR

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.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies.

No rounding has been applied.

Revenue recognition
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 company is contracted by its ultimate parent company, SecurityScoreCard Inc., to deliver sales and marketing services under an intercompany agreement. The company is remunerated by its ultimate parent for these services.

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 etc - 20% on cost

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


SECURITYSCORECARD UK LIMITED (REGISTERED NUMBER: 13575875)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Pension costs and other post-retirement benefits
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Going concern
These financial statements have been drawn up on the going concern basis. The company is dependent upon the support of its parent company, and only customer, in order to meet its working capital requirements. The parent company has provided assurances that this support will continue for a period that exceeds twelve months from the date of approval of these financial statements. However, the group has incurred recurring losses from operations and has a net capital deficiency that raises a material uncertainty about its ability to continue as a going concern and provide the necessary support. No adjustments have been made in these accounts which might result from that uncertainty.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 11 ) .

SECURITYSCORECARD UK LIMITED (REGISTERED NUMBER: 13575875)

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


4. AUDITORS' REMUNERATION
2023 2022
£ £
Fees payable to the company's auditors for the audit of the
company's financial statements

4,500

3,950

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023 14,410
Additions 2,448
Disposals (11,588 )
At 31 December 2023 5,270
DEPRECIATION
At 1 January 2023 3,530
Charge for year 2,401
Eliminated on disposal (2,847 )
At 31 December 2023 3,084
NET BOOK VALUE
At 31 December 2023 2,186
At 31 December 2022 10,880

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed by group undertakings 540,831 204,697
Other debtors 7,311 3,350
548,142 208,047

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 13,992 -
Taxation and social security 68,648 46,421
Other creditors 199,850 593,798
282,490 640,219

SECURITYSCORECARD UK LIMITED (REGISTERED NUMBER: 13575875)

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


8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mark Arber (Senior Statutory Auditor)
for and on behalf of Mark Arber Limited

9. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £16,841 (2022 - £9,974). Contributions totalling £10,811 (2022 - £5,733) were payable to the fund at the reporting date and are included in creditors.

10. RELATED PARTY DISCLOSURES

The company has taken the exemption provided by FRS 102 Section 33.1A not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The company is wholly owned subsidiary of Securityscorecard, Inc. A company incorporated in the United States of America. The ultimate controlling party is not known.

12. SHARE BASED PAYMENTS

The employees of the company are entitled to participate in the group share based compensation scheme. The company has taken the exemption provided in FRS 102 Section 1.12D not to disclose details of share-based payment arrangements concerning equity instruments of another group entity.