Silverfin false false 31/12/2024 01/07/2024 31/12/2024 J S Beale 11/01/2007 R Dartnall 19/04/2017 D Shepherd 03/09/2024 12 March 2025 The principal activities of the Company during the financial year were threat intelligence services and threat intelligence platform provision. 06049094 2024-12-31 06049094 bus:Director1 2024-12-31 06049094 bus:Director2 2024-12-31 06049094 bus:Director3 2024-12-31 06049094 2024-06-30 06049094 core:CurrentFinancialInstruments 2024-12-31 06049094 core:CurrentFinancialInstruments 2024-06-30 06049094 core:Non-currentFinancialInstruments 2024-12-31 06049094 core:Non-currentFinancialInstruments 2024-06-30 06049094 core:ShareCapital 2024-12-31 06049094 core:ShareCapital 2024-06-30 06049094 core:RetainedEarningsAccumulatedLosses 2024-12-31 06049094 core:RetainedEarningsAccumulatedLosses 2024-06-30 06049094 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 06049094 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-12-31 06049094 core:PlantMachinery 2024-06-30 06049094 core:OfficeEquipment 2024-06-30 06049094 core:ComputerEquipment 2024-06-30 06049094 core:PlantMachinery 2024-12-31 06049094 core:OfficeEquipment 2024-12-31 06049094 core:ComputerEquipment 2024-12-31 06049094 core:CostValuation 2024-06-30 06049094 core:CostValuation 2024-12-31 06049094 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-12-31 06049094 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-06-30 06049094 core:ImmediateParent core:Non-currentFinancialInstruments 2024-12-31 06049094 core:ImmediateParent core:Non-currentFinancialInstruments 2024-06-30 06049094 bus:OrdinaryShareClass1 2024-12-31 06049094 bus:OrdinaryShareClass2 2024-12-31 06049094 bus:PreferenceShareClass1 2024-12-31 06049094 2024-07-01 2024-12-31 06049094 bus:FilletedAccounts 2024-07-01 2024-12-31 06049094 bus:SmallEntities 2024-07-01 2024-12-31 06049094 bus:AuditExemptWithAccountantsReport 2024-07-01 2024-12-31 06049094 bus:PrivateLimitedCompanyLtd 2024-07-01 2024-12-31 06049094 bus:Director1 2024-07-01 2024-12-31 06049094 bus:Director2 2024-07-01 2024-12-31 06049094 bus:Director3 2024-07-01 2024-12-31 06049094 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2024-07-01 2024-12-31 06049094 core:PlantMachinery core:TopRangeValue 2024-07-01 2024-12-31 06049094 core:OfficeEquipment core:TopRangeValue 2024-07-01 2024-12-31 06049094 core:ComputerEquipment core:TopRangeValue 2024-07-01 2024-12-31 06049094 2023-07-01 2024-06-30 06049094 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-07-01 2024-12-31 06049094 core:PlantMachinery 2024-07-01 2024-12-31 06049094 core:OfficeEquipment 2024-07-01 2024-12-31 06049094 core:ComputerEquipment 2024-07-01 2024-12-31 06049094 core:Non-currentFinancialInstruments 2024-07-01 2024-12-31 06049094 bus:OrdinaryShareClass1 2024-07-01 2024-12-31 06049094 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 06049094 bus:OrdinaryShareClass2 2024-07-01 2024-12-31 06049094 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 06049094 bus:PreferenceShareClass1 2024-07-01 2024-12-31 06049094 bus:PreferenceShareClass1 2023-07-01 2024-06-30 06049094 1 2024-07-01 2024-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06049094 (England and Wales)

SECURITY ALLIANCE LIMITED

Unaudited Financial Statements
For the financial period from 01 July 2024 to 31 December 2024
Pages for filing with the registrar

SECURITY ALLIANCE LIMITED

Unaudited Financial Statements

For the financial period from 01 July 2024 to 31 December 2024

Contents

SECURITY ALLIANCE LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
SECURITY ALLIANCE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 31.12.2024 30.06.2024
£ £
Fixed assets
Intangible assets 3 2,066,819 1,947,326
Tangible assets 4 32,422 56,482
Investments 5 913 913
2,100,154 2,004,721
Current assets
Debtors 6 414,868 1,062,853
Cash at bank and in hand 463,959 627,927
878,827 1,690,780
Creditors: amounts falling due within one year 7 ( 1,498,034) ( 2,170,689)
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 ( 600,000) ( 647,698)
Provision for liabilities ( 35,025) 0
Net assets 845,922 877,114
Capital and reserves
Called-up share capital 9 1,305,800 1,305,800
Profit and loss account ( 459,878 ) ( 428,686 )
Total shareholder's funds 845,922 877,114

For the financial period ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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: 06049094) were approved and authorised for issue by the Board of Directors on 12 March 2025. They were signed on its behalf by:

J S Beale
Director
SECURITY ALLIANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 2024 to 31 December 2024
SECURITY ALLIANCE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 July 2024 to 31 December 2024
1. Accounting policies

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.

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 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 £.

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.

Reporting period length

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.

Change in accounting policies

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

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 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.

Taxation


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.

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 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 basis over its expected useful life, as follows:

Plant and machinery 3 years straight line
Office equipment 3 years straight line
Computer equipment 3 years straight line

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

Period from
01.07.2024 to
31.12.2024
Year ended
30.06.2024
Number Number
Monthly average number of persons employed by the Company during the period, including directors 47 42

3. Intangible assets

Development costs Total
£ £
Cost
At 01 July 2024 3,693,627 3,693,627
Additions 486,295 486,295
At 31 December 2024 4,179,922 4,179,922
Accumulated amortisation
At 01 July 2024 1,746,301 1,746,301
Charge for the financial period 366,802 366,802
At 31 December 2024 2,113,103 2,113,103
Net book value
At 31 December 2024 2,066,819 2,066,819
At 30 June 2024 1,947,326 1,947,326

4. Tangible assets

Plant and machinery Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 July 2024 5,086 28,670 89,130 122,886
Additions 0 1,193 3,010 4,203
Disposals ( 5,086) ( 28,670) ( 20,385) ( 54,141)
At 31 December 2024 0 1,193 71,755 72,948
Accumulated depreciation
At 01 July 2024 5,086 15,463 45,855 66,404
Charge for the financial period 0 3,957 13,846 17,803
Disposals ( 5,086) ( 19,375) ( 19,220) ( 43,681)
At 31 December 2024 0 45 40,481 40,526
Net book value
At 31 December 2024 0 1,148 31,274 32,422
At 30 June 2024 0 13,207 43,275 56,482

5. Fixed asset investments

Investments in subsidiaries

31.12.2024
£
Cost
At 01 July 2024 913
At 31 December 2024 913
Carrying value at 31 December 2024 913
Carrying value at 30 June 2024 913

6. Debtors

31.12.2024 30.06.2024
£ £
Trade debtors 95,416 465,158
Amounts owed by own subsidiaries 127,784 388,574
Prepayments 170,660 177,451
VAT recoverable 0 10,662
Other debtors 21,008 21,008
414,868 1,062,853

7. Creditors: amounts falling due within one year

31.12.2024 30.06.2024
£ £
Bank loans and overdrafts 0 89,536
Trade creditors 108,104 205,217
Accruals and deferred income 1,215,853 1,749,876
Other taxation and social security 160,129 114,758
Other creditors 13,948 11,302
1,498,034 2,170,689

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

31.12.2024 30.06.2024
£ £
Bank loans 0 47,698
Amounts owed to Parent undertakings 600,000 0
Other creditors 0 600,000
600,000 647,698

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

9. Called-up share capital

31.12.2024 30.06.2024
£ £
Allotted, called-up and fully-paid
3,800 A Ordinary shares of £ 1.00 each 3,800 3,800
10,000 Ordinary shares of £ 1.00 each 10,000 10,000
13,800 13,800
1,292,000 Redeemable Preference shares of £ 1.00 each 1,292,000 1,292,000
1,305,800 1,305,800

10. Financial commitments

Commitments

31.12.2024 30.06.2024
£ £
Total future minimum lease payments under non-cancellable operating lease 102,000 153,000

11. Related party transactions

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.

12. Ultimate controlling party

The ultimate parent company is Trill Impact Platform Sarl, a company based in Luxembourg. Their registered office address is 3, rue Gabriel Lippmann, L-5365 Munsbach, Grand Duchy of Luxembourg.