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Registered number: 07567588
Checksec Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2023
Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB
Contents
Page
Company Information 1
Accountant's Report 2
Abridged Balance Sheet 3—4
Notes to the Abridged Financial Statements 5—6
Page 1
Company Information
Director Mr D Ryan
Company Number 07567588
Registered Office Kemp House, 160 City Road
London
EC1V 2NX
Accountants Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB
Page 1
Page 2
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Checksec Limited For The Year Ended 31 December 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Checksec Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Checksec Limited , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Checksec Limited and state those matters that we have agreed to state to the director of Checksec Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Checksec Limited and its director as a body for our work or for this report.
It is your duty to ensure that Checksec Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Checksec Limited . You consider that Checksec Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Checksec Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
14 January 2025
Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB
Page 2
Page 3
Abridged Balance Sheet
Registered number: 07567588
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,614 4,523
6,614 4,523
CURRENT ASSETS
Debtors 88,598 39,391
Cash at bank and in hand 115,308 278,607
203,906 317,998
Creditors: Amounts Falling Due Within One Year (308,007 ) (418,970 )
NET CURRENT ASSETS (LIABILITIES) (104,101 ) (100,972 )
TOTAL ASSETS LESS CURRENT LIABILITIES (97,487 ) (96,449 )
NET LIABILITIES (97,487 ) (96,449 )
CAPITAL AND RESERVES
Called up share capital 5 1,000 1,000
Profit and Loss Account (98,487 ) (97,449 )
SHAREHOLDERS' FUNDS (97,487) (96,449)
Page 3
Page 4
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2023 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr D Ryan
Director
14 January 2025
The notes on pages 5 to 6 form part of these financial statements.
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Page 5
Notes to the Abridged Financial Statements
1. General Information
Checksec Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07567588 . The registered office is Kemp House, 160 City Road, London, EC1V 2NX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on straight line basis
Computer Equipment 25% on Written down value
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Tangible Assets
Total
£
Cost
As at 1 January 2023 10,341
Additions 4,588
As at 31 December 2023 14,929
Depreciation
As at 1 January 2023 5,818
Provided during the period 2,497
As at 31 December 2023 8,315
Net Book Value
As at 31 December 2023 6,614
As at 1 January 2023 4,523
5. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 6