Company No:
Contents
Note | 31.12.2024 | 30.06.2024 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investments | 5 |
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2,100,154 | 2,004,721 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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878,827 | 1,690,780 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current liabilities | (619,207) | (479,909) | ||
Total assets less current liabilities | 1,480,947 | 1,524,812 | ||
Creditors: amounts falling due after more than one year | 8 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 9 |
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Profit and loss account | (
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Total shareholder's funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Security Alliance Limited (registered number:
J S Beale
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
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 Level 7, One Canada Square, Canary Wharf, London, E14 5AA, 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 £.
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.
These financial statements cover from 1 July 2024 to 31 December 2024. The previous financial statements cover from 1 July 2023 to 30 June 2024. The reporting period of these financial statements was changed to 31 December 2024 to align its reporting period with its parent company, CSIS Group UK Limited. Therefore, the comparatives are not entirely comparable.
During the period the depreciation policy was changed to depreciate all tangible fixed assets over 3 years year straight-line in order to align the Company's depreciation policy with its parent company. The depreciation policy of these assets in the previous financial statements were as shown below.
Plant and machinery 33% reducing balance
Vehicles 33% reducing balance
Office equipment 25% reducing balance
Computer equipment 25% reducing balance
During the period the amortisation policy was changed on intangible assets to be amortised over 5 years straight-line to align the amortisation of all intangible fixed assets. The amortisation of these assets in the previous financial statements were as shown below.
Development costs 5 - 10 years straight line
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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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 period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Development costs |
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Plant and machinery |
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Office equipment |
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Computer equipment |
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All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
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.
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.
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.
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.
Period from 01.07.2024 to 31.12.2024 |
Year ended 30.06.2024 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Development costs | Total | ||
£ | £ | ||
Cost | |||
At 01 July 2024 |
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Additions |
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At 31 December 2024 |
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Accumulated amortisation | |||
At 01 July 2024 |
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Charge for the financial period |
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At 31 December 2024 |
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Net book value | |||
At 31 December 2024 |
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At 30 June 2024 |
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Plant and machinery | Office equipment | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 July 2024 |
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Additions |
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Disposals | (
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At 31 December 2024 |
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Accumulated depreciation | |||||||
At 01 July 2024 |
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Charge for the financial period |
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Disposals | (
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At 31 December 2024 |
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Net book value | |||||||
At 31 December 2024 |
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At 30 June 2024 |
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Investments in subsidiaries
31.12.2024 | |
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Cost | |
At 01 July 2024 |
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At 31 December 2024 |
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Carrying value at 31 December 2024 |
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Carrying value at 30 June 2024 |
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31.12.2024 | 30.06.2024 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by own subsidiaries |
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Prepayments |
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VAT recoverable |
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Other debtors |
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31.12.2024 | 30.06.2024 | ||
£ | £ | ||
Bank loans and overdrafts |
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Trade creditors |
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Accruals and deferred income |
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Other taxation and social security |
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Other creditors |
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31.12.2024 | 30.06.2024 | ||
£ | £ | ||
Bank loans |
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Amounts owed to Parent undertakings |
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Other creditors |
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31.12.2024 | 30.06.2024 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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13,800 | 13,800 | ||
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1,305,800 | 1,305,800 |
Commitments
31.12.2024 | 30.06.2024 | ||
£ | £ | ||
Total future minimum lease payments under non-cancellable operating lease |
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Transactions with owners holding a participating interest in the entity
During the period, a shareholder loan was fully repaid (June 2024: 600,000). Interest was charged on the loan at 3%.
The Company has taken advantage of Section 1AC.35 of FRS 102 to not disclose related party transactions with members within its group.