REGISTERED NUMBER: |
S3 ID GROUP LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2023 |
REGISTERED NUMBER: |
S3 ID GROUP LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2023 |
S3 ID GROUP LIMITED (REGISTERED NUMBER: 07458539) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
S3 ID GROUP LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
S3 ID GROUP LIMITED (REGISTERED NUMBER: 07458539) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
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 |
S3 ID GROUP LIMITED (REGISTERED NUMBER: 07458539) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
S3 ID Group Limited ("the company") is a limited company domiciled and incorporated in England and Wales. The registered office is Bow Bridge Close, Rotherham, South Yorkshire, S60 1BY. |
The group consists of S3 ID Group Limited and all of its subsidiaries. |
The group and company's principal activities are disclosed in the Directors' Report. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors have made a detailed assessment of the going concern requirements to ensure the company has adequate resources to continue in operational existence for the foreseeable future. As a result of this review the directors are confident that, given; the current orders in hand, 2021's profitable trading and ongoing shareholder support via a letter of support the Company has sufficient resources to continue trading. |
Preparation of consolidated financial statements |
The financial statements contain information about S3 Id Group Limited 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. |
S3 ID GROUP LIMITED (REGISTERED NUMBER: 07458539) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Investments in subsidiaries |
Interest in subsidiaries, the separate accounts of the company, are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss. |
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain economic benefits from its activities. |
Impairment of fixed assets |
at each reporting end date, the group reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss.if any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the group estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. |
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. |
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had impairment loss been recognised for the asset (or cash generating unit) prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. |
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. |
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. |
S3 ID GROUP LIMITED (REGISTERED NUMBER: 07458539) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Bow Bridge Close, Rotherham, South Yorkshire, S60 1BY |
Nature of business: |
% |
Class of shares: | holding |
Registered office: c/o Amesto AccountHouse SØR AS, Koppholen 6, 4313 SANDNES |
Nature of business: |
% |
Class of shares: | holding |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans (see note 7) |
Amounts owed to group undertakings |
Accrued expenses |
S3 ID GROUP LIMITED (REGISTERED NUMBER: 07458539) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
A Ordinary | £1 | 918,000 | 918,000 |
B Ordinary | £1 | 306,000 | 306,000 |
1,224,000 | 1,224,000 |
Allotted and issued: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
C Ordinary | £1 | 680 | 720 |
A Ordinary and B Ordinary |
The company's A and B Ordinary Shares rank pari passu in respect of voting rights and rights on distribution on winding up of the company. Each class of share may receive a different dividends at the discretion of the directors, but carry no right to fixed income , and each share carries the right to one vote at general meetings of the company. |
C Ordinary |
The company's C ordinary shares do not attract voting rights or dividends. Distributions upon wind up the C Ordinary shares shall not be entitled to any surplus assets, the surplus assets shall be distributed amongst the A and B Ordinary shareholders unless certain business conditions are met as defined in the Articles of Association. |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 |
Deficit for the year | ( |
) |
At 31 December 2023 |
10. | ULTIMATE CONTROLLING PARTY |
Tan Mok Koon (an individual resident in Singapore) controls S3 ID Limited by virtue of his interest in S3 ID PTE Limited which holds 81.5% of the voting rights in S3 ID Group Limited. The directors therefore consider Tan Mok Koon to be the ultimate controlling party. |