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COMPANY REGISTRATION NUMBER: 11075840
Secure Construction Group Limited
Filleted Unaudited Financial Statements
30 November 2023
Secure Construction Group Limited
Financial Statements
Year ended 30 November 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Secure Construction Group Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
18,172
24,721
Current assets
Stocks
30,000
30,000
Debtors
6
1,632,895
1,610,904
Cash at bank and in hand
100
100
------------
------------
1,662,995
1,641,004
Creditors: amounts falling due within one year
7
1,640,774
1,623,491
------------
------------
Net current assets
22,221
17,513
--------
--------
Total assets less current liabilities
40,393
42,234
Creditors: amounts falling due after more than one year
8
22,630
33,390
--------
--------
Net assets
17,763
8,844
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
17,663
8,744
--------
-------
Shareholders funds
17,763
8,844
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Secure Construction Group Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Mr A Kravcenko
Director
Company registration number: 11075840
Secure Construction Group Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Equipment
-
20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 December 2022
56,527
12,908
69,435
Additions
199
199
--------
--------
--------
At 30 November 2023
56,527
13,107
69,634
--------
--------
--------
Depreciation
At 1 December 2022
39,886
4,828
44,714
Charge for the year
4,456
2,292
6,748
--------
--------
--------
At 30 November 2023
44,342
7,120
51,462
--------
--------
--------
Carrying amount
At 30 November 2023
12,185
5,987
18,172
--------
--------
--------
At 30 November 2022
16,641
8,080
24,721
--------
--------
--------
6. Debtors
2023
2022
£
£
Other debtors
1,632,895
1,610,904
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
13,346
21,696
Trade creditors
6,030
120
Corporation tax
49,685
21,395
Social security and other taxes
20,073
25,940
Other creditors
1,551,640
1,554,340
------------
------------
1,640,774
1,623,491
------------
------------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
22,630
33,390
--------
--------
9. Director's advances, credits and guarantees
At the year end the director owed the company £139,712 (2022: £117,721). During the year advances of £120,479 were made to the director and repayments of £100,758 were made by the director. Interest of £2,270 was charged on the loan at a rate of 2.25%.