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REGISTERED NUMBER: 08950940 (England and Wales)



















Financial Statements

for the Year Ended 31 May 2023

for

Surescreen Scientifics Limited

Surescreen Scientifics Limited (Registered number: 08950940)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Surescreen Scientifics Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: A R Campbell
A J Campbell
D S Campbell





REGISTERED OFFICE: 17 Eagle Park
Alfreton Road
Derby
Derbyshire
DE21 4BF





REGISTERED NUMBER: 08950940 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Surescreen Scientifics Limited (Registered number: 08950940)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 180 558
Tangible assets 5 193,863 211,282
194,043 211,840

CURRENT ASSETS
Stocks 7,380 3,023
Debtors 6 486,214 1,297,143
Cash at bank and in hand 453,661 195,017
947,255 1,495,183
CREDITORS
Amounts falling due within one year 7 466,686 713,419
NET CURRENT ASSETS 480,569 781,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

674,612

993,604

PROVISIONS FOR LIABILITIES 39,986 43,973
NET ASSETS 634,626 949,631

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 634,326 949,331
634,626 949,631

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





D S Campbell - Director


Surescreen Scientifics Limited (Registered number: 08950940)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Surescreen Scientifics Limited 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.

Turnover
Turnover represents the value of goods and services, excluding value added tax. Turnover is recognised in the period in which the goods and services were provided.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment loss. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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 reducing balance
Fixtures and fittings-25% on reducing balance
Motor vehicles-25% on reducing balance
Computer equipment-25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'administrative expenses' in the profit and loss account.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is based on purchase price on a first in first out basis.

Net realisable value is based on the estimated selling price less further costs expected to be incurred to completion and disposal.

At each reporting date, stock is assessed for impairment. If impaired, the carrying amount is reduced and the impairment loss is recognised immediately in the profit and loss account.


Surescreen Scientifics Limited (Registered number: 08950940)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax arises from timing differences between taxable total profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted.

Provision is made at current rates for taxation deferred in respect of all material timing differences.

Related parties
The company is a wholly owned subsidiary undertaking of Surescreen Holdings Limited and therefore Surescreen Holdings (2022) Limited. The company has taken advantage of the exemption contained within Section 1A "Small Entities" of Financial Reporting Standard 102 and has therefore not disclosed transactions with entities which form part of the group, other than as normally disclosed in the notes to the financial statements.

Pension costs and other post-retirement benefits
The company operates defined contribution plans 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 payments obligations. The contributions are recognised as an expense when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Going concern
The financial statements for the year ended 31 May 2023 have been prepared on the going concern basis.

For the year ended 31 May 2023, the company generated a loss of £315,005. The major reason for this loss is writing off intercompany loans across the group following exceptional years greatly impacted by the pandemic. Without this write off, the company would be operating comfortably in profit and is expected to be in profit in subsequent years.

Whilst it is difficult to ascertain the impact of going concern uncertainty across the Surescreen group, given the current set of accounts, net assets are at £634,626 within Surescreen Scientifics, and there have been no significant changes to the underlying business apart from the writing off of the intercompany loan which will impact this period only.

The directors have prepared a cashflow forecast which demonstrates that the group will have sufficient funds to meet its liabilities as they fall due for the twelve months following the date of these financial statements. Sale of properties throughout the group will generate additional cash should it be required also.

Profits are expected for the 2025 financial year with results to date in line with budget. It is acknowledged that it is possible that the sales and expenses assumptions that underpin the budget may not be achieved, and the directors have reviewed a downside scenario that assumes a significant reduction in sales volumes and increase in expenditure from budget. In this scenario, Directors would inject funds from the sale of properties as required to fund short-term cash flow issues.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

Surescreen Scientifics Limited (Registered number: 08950940)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 June 2022 1,014
Disposals (612 )
At 31 May 2023 402
AMORTISATION
At 1 June 2022 456
Amortisation for year 57
Eliminated on disposal (291 )
At 31 May 2023 222
NET BOOK VALUE
At 31 May 2023 180
At 31 May 2022 558

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 358,782 37,979 40,746 38,636 476,143
Additions 35,764 4,793 - 11,007 51,564
Disposals (18,385 ) (1,726 ) - (1,330 ) (21,441 )
At 31 May 2023 376,161 41,046 40,746 48,313 506,266
DEPRECIATION
At 1 June 2022 211,009 16,510 19,926 17,416 264,861
Charge for year 44,669 5,552 5,205 7,945 63,371
Eliminated on disposal (13,545 ) (1,383 ) - (901 ) (15,829 )
At 31 May 2023 242,133 20,679 25,131 24,460 312,403
NET BOOK VALUE
At 31 May 2023 134,028 20,367 15,615 23,853 193,863
At 31 May 2022 147,773 21,469 20,820 21,220 211,282

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 464,882 501,940
Amounts owed by group undertakings - 750,130
Other debtors - 31,300
Prepayments 21,332 13,773
486,214 1,297,143

Surescreen Scientifics Limited (Registered number: 08950940)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 36,997 88,158
Amounts owed to group undertakings 189,926 428,626
Tax 21,000 20,460
Social security and other taxes 135,606 114,800
Other creditors 4,125 1,598
Accrued expenses 79,032 59,777
466,686 713,419

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

The Report of the Auditors was unqualified.

Ian Neal FCA CTA (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd

9. RELATED PARTY DISCLOSURES

During the year, the company traded with another company which is an associate of the parent company. At the year end, £67,202 (2022: £59,618) was included within trade debtors of which £34,640 (2022: £59,618) has been provided for as a bad debt.

10. ULTIMATE PARENT COMPANY

The company's immediate parent undertaking is Surescreen Holdings Limited, and ultimate parent undertaking is Surescreen Holdings (2022) Limited, which prepares group financial statements. The registered office of both Surescreen Holdings Limited and Surescreen Holdings (2022) Limited is 17 Eagle Park, Alfreton Road, Derby, DE21 4BF. Copies of the consolidated financial statements of Surescreen Holdings (2022) Limited are available from the Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.