Silverfin false false 30/06/2024 01/07/2023 30/06/2024 J S Beale 11/01/2007 R Dartnall 19/04/2017 D Shepherd 03/09/2024 28 January 2025 The principal activities of the Company during the financial year were threat intelligence services and threat intelligence platform provision. 06049094 2024-06-30 06049094 bus:Director1 2024-06-30 06049094 bus:Director2 2024-06-30 06049094 bus:Director3 2024-06-30 06049094 2023-06-30 06049094 core:CurrentFinancialInstruments 2024-06-30 06049094 core:CurrentFinancialInstruments 2023-06-30 06049094 core:Non-currentFinancialInstruments 2024-06-30 06049094 core:Non-currentFinancialInstruments 2023-06-30 06049094 core:ShareCapital 2024-06-30 06049094 core:ShareCapital 2023-06-30 06049094 core:RetainedEarningsAccumulatedLosses 2024-06-30 06049094 core:RetainedEarningsAccumulatedLosses 2023-06-30 06049094 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 06049094 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 06049094 core:PlantMachinery 2023-06-30 06049094 core:Vehicles 2023-06-30 06049094 core:OfficeEquipment 2023-06-30 06049094 core:ComputerEquipment 2023-06-30 06049094 core:PlantMachinery 2024-06-30 06049094 core:Vehicles 2024-06-30 06049094 core:OfficeEquipment 2024-06-30 06049094 core:ComputerEquipment 2024-06-30 06049094 core:CostValuation 2023-06-30 06049094 core:CostValuation 2024-06-30 06049094 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-06-30 06049094 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-06-30 06049094 bus:OrdinaryShareClass1 2024-06-30 06049094 bus:OrdinaryShareClass2 2024-06-30 06049094 bus:PreferenceShareClass1 2024-06-30 06049094 2023-07-01 2024-06-30 06049094 bus:FilletedAccounts 2023-07-01 2024-06-30 06049094 bus:SmallEntities 2023-07-01 2024-06-30 06049094 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06049094 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06049094 bus:Director1 2023-07-01 2024-06-30 06049094 bus:Director2 2023-07-01 2024-06-30 06049094 bus:Director3 2023-07-01 2024-06-30 06049094 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:BottomRangeValue 2023-07-01 2024-06-30 06049094 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2023-07-01 2024-06-30 06049094 core:PlantMachinery 2023-07-01 2024-06-30 06049094 core:Vehicles 2023-07-01 2024-06-30 06049094 core:OfficeEquipment 2023-07-01 2024-06-30 06049094 core:ComputerEquipment 2023-07-01 2024-06-30 06049094 2022-07-01 2023-06-30 06049094 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 06049094 core:CurrentFinancialInstruments 2023-07-01 2024-06-30 06049094 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 06049094 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 06049094 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 06049094 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 06049094 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 06049094 bus:PreferenceShareClass1 2023-07-01 2024-06-30 06049094 bus:PreferenceShareClass1 2022-07-01 2023-06-30 06049094 1 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06049094 (England and Wales)

SECURITY ALLIANCE LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

SECURITY ALLIANCE LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

SECURITY ALLIANCE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
SECURITY ALLIANCE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 1,947,326 1,578,877
Tangible assets 4 56,482 67,729
Investments 5 913 913
2,004,721 1,647,519
Current assets
Debtors 6 1,062,853 691,417
Cash at bank and in hand 627,927 80,503
1,690,780 771,920
Creditors: amounts falling due within one year 7 ( 2,170,689) ( 1,053,411)
Net current liabilities (479,909) (281,491)
Total assets less current liabilities 1,524,812 1,366,028
Creditors: amounts falling due after more than one year 8 ( 647,698) ( 437,235)
Net assets 877,114 928,793
Capital and reserves
Called-up share capital 9 1,305,800 1,302,000
Profit and loss account ( 428,686 ) ( 373,207 )
Total shareholders' funds 877,114 928,793

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Security Alliance Limited (registered number: 06049094) were approved and authorised for issue by the Board of Directors on 28 January 2025. They were signed on its behalf by:

J S Beale
Director
SECURITY ALLIANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
SECURITY ALLIANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Security Alliance Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom. The principal place of business is 23 High Park Road, Farnham, GU9 7JJ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 - 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line/reducing balance] basis over its expected useful life, as follows:

Plant and machinery 33 % reducing balance
Vehicles 33 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 48 42

3. Intangible assets

Development costs Total
£ £
Cost
At 01 July 2023 2,751,489 2,751,489
Additions 942,138 942,138
At 30 June 2024 3,693,627 3,693,627
Accumulated amortisation
At 01 July 2023 1,172,612 1,172,612
Charge for the financial year 573,689 573,689
At 30 June 2024 1,746,301 1,746,301
Net book value
At 30 June 2024 1,947,326 1,947,326
At 30 June 2023 1,578,877 1,578,877

4. Tangible assets

Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 July 2023 5,086 54,240 22,630 79,115 161,071
Additions 0 0 6,040 10,015 16,055
Disposals 0 ( 54,240) 0 0 ( 54,240)
At 30 June 2024 5,086 0 28,670 89,130 122,886
Accumulated depreciation
At 01 July 2023 5,086 43,310 12,014 32,932 93,342
Charge for the financial year 0 2,000 3,449 12,923 18,372
Disposals 0 ( 45,310) 0 0 ( 45,310)
At 30 June 2024 5,086 0 15,463 45,855 66,404
Net book value
At 30 June 2024 0 0 13,207 43,275 56,482
At 30 June 2023 0 10,930 10,616 46,183 67,729

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 913
At 30 June 2024 913
Carrying value at 30 June 2024 913
Carrying value at 30 June 2023 913

6. Debtors

2024 2023
£ £
Trade debtors 454,570 300,967
Amounts owed by own subsidiaries 388,574 216,228
Prepayments and accrued income 188,039 160,378
VAT recoverable 10,662 863
Other debtors 21,008 12,981
1,062,853 691,417

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 89,536 82,128
Trade creditors 205,217 288,742
Accruals and deferred income 1,749,876 392,930
Other taxation and social security 114,758 254,794
Obligations under finance leases and hire purchase contracts 0 23,927
Other creditors 11,302 10,890
2,170,689 1,053,411

The amounts owed under HP agreements are secured on the assets to which they relate.

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 47,698 137,235
Other creditors 600,000 300,000
647,698 437,235

There are no amounts included above in respect of which any security has been given by the small entity.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3,800 A Ordinary shares of £ 1.00 each (2023: nil shares) 3,800 0
10,000 Ordinary shares of £ 1.00 each 10,000 10,000
13,800 10,000
1,292,000 Redeemable Preference shares of £ 1.00 each 1,292,000 1,292,000
1,305,800 1,302,000

10. Related party transactions

Transactions with owners holding a participating interest in the entity

During the period a shareholder maintained a loan with the company. At the year end the loan balance was £600,000 (2023: £300,000). Interest is charged at 3%.

11. Events after the Balance Sheet date

Following the balance sheet date the company was acquired by CSIS Group UK Limited.