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REGISTERED NUMBER: 07458539 (England and Wales)















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: M K Tan
G G Kielland
J C Caldwell
D Gennard
A Stubbs
R W Speirs





REGISTERED OFFICE: Bow Bridge Close
Rotherham
S60 1BY





REGISTERED NUMBER: 07458539 (England and Wales)






S3 ID GROUP LIMITED (REGISTERED NUMBER: 07458539)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,430,000 2,430,000

CURRENT ASSETS
Debtors 5 400,680 400,720

CREDITORS
Amounts falling due within one year 6 1,576,802 1,495,462
NET CURRENT LIABILITIES (1,176,122 ) (1,094,742 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,253,878

1,335,258

CAPITAL AND RESERVES
Called up share capital 8 1,224,680 1,224,720
Retained earnings 9 29,198 110,538
SHAREHOLDERS' FUNDS 1,253,878 1,335,258

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.

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 4 June 2024 and were signed on its behalf by:





R W Speirs - Director


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
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.

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 2,430,000
NET BOOK VALUE
At 31 December 2023 2,430,000
At 31 December 2022 2,430,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

S3 ID Limited
Registered office: Bow Bridge Close, Rotherham, South Yorkshire, S60 1BY
Nature of business: Same as group
%
Class of shares: holding
Ordinary 100.00

S3 ID AS
Registered office: c/o Amesto AccountHouse SØR AS, Koppholen 6, 4313 SANDNES
Nature of business: Same as group
%
Class of shares: holding
Ordinary 100.00

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 400,680 400,720

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans (see note 7) 400,000 400,000
Amounts owed to group undertakings 1,171,169 1,090,219
Accrued expenses 5,633 5,243
1,576,802 1,495,462

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 400,000 400,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
918,000 A Ordinary £1 918,000 918,000
306,000 B Ordinary £1 306,000 306,000
1,224,000 1,224,000

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
720 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 110,538
Deficit for the year (81,340 )
At 31 December 2023 29,198

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.