Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-3035falsetruefalse2023-10-01No description of principal activity28true 04394409 2023-10-01 2024-09-30 04394409 2022-10-01 2023-09-30 04394409 2024-09-30 04394409 2023-09-30 04394409 2022-10-01 04394409 c:CompanySecretary1 2023-10-01 2024-09-30 04394409 c:Director4 2023-10-01 2024-09-30 04394409 c:Director5 2023-10-01 2024-09-30 04394409 c:RegisteredOffice 2023-10-01 2024-09-30 04394409 c:Agent1 2023-10-01 2024-09-30 04394409 d:Buildings d:LongLeaseholdAssets 2023-10-01 2024-09-30 04394409 d:Buildings d:LongLeaseholdAssets 2024-09-30 04394409 d:Buildings d:LongLeaseholdAssets 2023-09-30 04394409 d:PlantMachinery 2023-10-01 2024-09-30 04394409 d:PlantMachinery 2024-09-30 04394409 d:PlantMachinery 2023-09-30 04394409 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04394409 d:FurnitureFittings 2023-10-01 2024-09-30 04394409 d:FurnitureFittings 2024-09-30 04394409 d:FurnitureFittings 2023-09-30 04394409 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04394409 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04394409 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-01 2024-09-30 04394409 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 04394409 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 04394409 d:CurrentFinancialInstruments 2024-09-30 04394409 d:CurrentFinancialInstruments 2023-09-30 04394409 d:Non-currentFinancialInstruments 2024-09-30 04394409 d:Non-currentFinancialInstruments 2023-09-30 04394409 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 04394409 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 04394409 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 04394409 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 04394409 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 04394409 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 04394409 d:ShareCapital 2023-10-01 2024-09-30 04394409 d:ShareCapital 2024-09-30 04394409 d:ShareCapital 2022-10-01 2023-09-30 04394409 d:ShareCapital 2023-09-30 04394409 d:ShareCapital 2022-10-01 04394409 d:CapitalRedemptionReserve 2023-10-01 2024-09-30 04394409 d:CapitalRedemptionReserve 2024-09-30 04394409 d:CapitalRedemptionReserve 2022-10-01 2023-09-30 04394409 d:CapitalRedemptionReserve 2023-09-30 04394409 d:CapitalRedemptionReserve 2022-10-01 04394409 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 04394409 d:RetainedEarningsAccumulatedLosses 2024-09-30 04394409 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 04394409 d:RetainedEarningsAccumulatedLosses 2023-09-30 04394409 d:RetainedEarningsAccumulatedLosses 2022-10-01 04394409 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-10-01 2024-09-30 04394409 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-09-30 04394409 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-09-30 04394409 c:FRS102 2023-10-01 2024-09-30 04394409 c:Audited 2023-10-01 2024-09-30 04394409 c:FullAccounts 2023-10-01 2024-09-30 04394409 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04394409 d:WithinOneYear 2024-09-30 04394409 d:WithinOneYear 2023-09-30 04394409 d:BetweenOneFiveYears 2024-09-30 04394409 d:BetweenOneFiveYears 2023-09-30 04394409 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-09-30 04394409 d:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-09-30 04394409 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2024-09-30 04394409 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:WithinOneYear 2023-09-30 04394409 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2024-09-30 04394409 d:PlantEquipmentOtherAssetsUnderOperatingLeases d:BetweenOneFiveYears 2023-09-30 04394409 d:HirePurchaseContracts d:WithinOneYear 2024-09-30 04394409 d:HirePurchaseContracts d:WithinOneYear 2023-09-30 04394409 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-09-30 04394409 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-09-30 04394409 c:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04394409 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 04394409 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-10-01 2024-09-30 04394409 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Company registration number: 04394409







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2024


SYMETRICA SECURITY LTD






































img2975.png                        

 


SYMETRICA SECURITY LTD
 


 
COMPANY INFORMATION


Directors
E F Zanin 
C Grindal 




Company secretary
C Grindal



Registered number
04394409



Registered office
1st Floor Kenneth Dibben House Enterprise Road
Southampton Science Park

Southampton

SO16 7NS




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

3000a Parkway

Whiteley

Hampshire

PO15 7FX




Bankers
Barclays Bank Plc
1 Churchill Place

London

E14 5HP




Solicitors
Moore Blatch LLP
Gateway House

Tollgate

Chandlers Ford

Southampton

SO53 3TG





 


SYMETRICA SECURITY LTD
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Statement of Changes in Equity
3
Notes to the Financial Statements
4 - 14


 


SYMETRICA SECURITY LTD
REGISTERED NUMBER:04394409



STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,921,854
2,912,361

Tangible assets
 5 
252,500
18,947

  
3,174,354
2,931,308

Current assets
  

Stocks
 6 
548,180
670,053

Debtors: amounts falling due within one year
 7 
1,184,329
2,131,217

Cash at bank and in hand
  
363,297
296,986

  
2,095,806
3,098,256

Creditors: amounts falling due within one year
 8 
(6,821,116)
(4,975,140)

Net current liabilities
  
 
 
(4,725,310)
 
 
(1,876,884)

Total assets less current liabilities
  
(1,550,956)
1,054,424

Creditors: amounts falling due after more than one year
 9 
(69,819)
(17,566)

Provisions for liabilities
  

Other provisions
 12 
(6,261)
(202,922)

  
 
 
(6,261)
 
 
(202,922)

Net (liabilities)/assets
  
(1,627,036)
833,936


Capital and reserves
  

Called up share capital 
  
100
100

Capital contribution reserve
  
18,148,791
18,148,791

Profit and loss account
  
(19,775,927)
(17,314,955)

  
(1,627,036)
833,936


Page 1

 


SYMETRICA SECURITY LTD
REGISTERED NUMBER:04394409


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
C Grindal
Director

Date: 24 March 2025

The notes on pages 4 to 14 form part of these financial statements.

Page 2

 
SYMETRICA SECURITY LTD

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024



Called up share capital
Capital contribution reserve
Profit and loss account
Total equity


£
£
£
£



At 1 October 2022
100
18,148,791
(16,480,164)
1,668,727



Comprehensive income for the year


Loss for the year
-
-
(834,791)
(834,791)

Total comprehensive income for the year
-
-
(834,791)
(834,791)



Total transactions with owners
-
-
-
-





At 1 October 2023
100
18,148,791
(17,314,955)
833,936



Comprehensive income for the year


Loss for the year
-
-
(2,460,972)
(2,460,972)

Total comprehensive income for the year
-
-
(2,460,972)
(2,460,972)



Total transactions with owners
-
-
-
-



At 30 September 2024
100
18,148,791
(19,775,927)
(1,627,036)



The notes on pages 4 to 14 form part of these financial statements.

Page 3
 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Symetrica Security Ltd is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, having made a net loss before tax for the year of £2.76m. In considering the appropriateness of the going concern basis, the directors have prepared detailed forecasts for the year ahead, taking into account confirmed sales orders that have been received since the year end, together with forecast expenditure.
The going concern basis is dependent upon the substantial achievement of the Group’s forecasts, including the completion of certain significant sales agreements. Over the past year, the Group has won a number of major contracts and is well placed to secure further major contracts going forward. In the current financial year the Group is generating a profit and is currently cash flow positive. 
Symetrica is backed by a number of institutional investors and has raised more than £18m to date. Its investors injected £4m into the business in February 2023 to enable the business to accelerate growth still further. As with any Company placing reliance on its investors for financial support, the directors acknowledge that there can be no certainty that this support will continue, although, at the date of approval of these financial statements, they have no reason to believe that it will not do so and no additional financing is assumed in the business’s forecasts.
The directors have a reasonable expectation that the Group and Company have adequate resources to continue its operational existence for the foreseeable future with the group committed to continuing to provide support to Symetrica Security Limited. For this reason, they continue to adopt the going concern basis in preparing the annual report and accounts.

Page 4

 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. 

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives of 5 years following the year of addition.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.8

Borrowing costs

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

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


Page 6

 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Development expenditure is assessed to have a useful economic life of 5 years, representing the period that the directors believe the assets will have use to the business.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
5
years straight line

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
5 years
Plant and machinery
-
4 years
Fixtures and fittings
-
4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 7

 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
 
 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of
Page 8

 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)

financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 35 (2023 - 28).


4.


Intangible assets




Development expenditure

£



Cost


At 1 October 2023
5,200,694


Additions
1,050,428



At 30 September 2024

6,251,122



Amortisation


At 1 October 2023
2,288,333


Charge for the year on owned assets
1,040,935



At 30 September 2024

3,329,268



Net book value



At 30 September 2024
2,921,854



At 30 September 2023
2,912,361



Page 9

 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 October 2023
148,038
330,998
3,505
482,541


Additions
127,814
96,811
32,588
257,213


Disposals
(120,711)
(139,546)
(1,297)
(261,554)



At 30 September 2024

155,141
288,263
34,796
478,200



Depreciation


At 1 October 2023
142,570
319,272
1,752
463,594


Charge for the year on owned assets
8,039
7,482
1,911
17,432


Disposals
(120,708)
(133,970)
(648)
(255,326)



At 30 September 2024

29,901
192,784
3,015
225,700



Net book value



At 30 September 2024
125,240
95,479
31,781
252,500



At 30 September 2023
5,468
11,726
1,753
18,947


6.


Stocks

2024
2023
£
£

Raw materials and consumables
482,914
566,205

Work in progress (goods to be sold)
65,266
103,848

548,180
670,053


Page 10

 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
203,055
258,094

Amounts owed by group undertakings
-
1,411,919

Other debtors
179,732
107,038

Prepayments and accrued income
271,103
58,586

Tax recoverable
530,439
295,580

1,184,329
2,131,217



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
8,163

Bank loans
269,262
787,654

Trade creditors
955,692
668,757

Amounts owed to group undertakings
4,746,215
2,747,248

Other taxation and social security
70,691
116,795

Obligations under finance lease and hire purchase contracts
33,245
-

Other creditors
16,781
48,559

Accruals and deferred income
729,230
597,964

6,821,116
4,975,140


The Company has access to a loan facility included in creditors due within one year above. This facility is secured by way of cross guarantee between all group companies and fixed and floating charges over all assets owned by the Group.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,100
17,566

Net obligations under finance leases and hire purchase contracts
63,719
-

69,819
17,566


Page 11

 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
269,262
787,654


269,262
787,654


Amounts falling due 2-5 years

Bank loans
6,100
17,566


6,100
17,566


275,362
805,220



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
33,245
-

Between 1-5 years
63,719
-

96,964
-

Page 12

 


SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.


Provisions





Warranty provision

£





At 1 October 2023
202,922


Charged to profit or loss
(196,661)



At 30 September 2024
6,261

There is the obligation to repair or replace any defective hardware, Symetrica software and/or third party software relating to the sale of equipment or refund the price of such defective equipment in full from the date of delivery of the equipment and ending 12 months after the date of delivery of the equipment. As this time has not yet passed in full, there are uncertainties around the amount and timing of the resulting payments. 


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £101,382 (2023: £81,343). Contributions totalling £16,781 (2023: £11,948) were payable to the fund at the reporting date and are included in creditors.


14.


Commitments under operating leases

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£

Land and Buildings


Not later than 1 year
165,282
177,142

Later than 1 year and not later than 5 years
269,515
38,781

434,797
215,923

2024
2023

£
£

Other


Not later than 1 year
3,863
9,862

Later than 1 year and not later than 5 years
4,040
1,809

7,903
11,671

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SYMETRICA SECURITY LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

15.


Related party transactions

Symetrica Security Limited paid management fees to:
-Technology Venture Partners LLP, a partner of which is also a director of this company, totalling £15,000 (2023: £18,000). A balance of £8,750 was outstanding at the year end (2023: £6,000).
                                                                                                                                                                                        -Parkwalk Advisors Limited, a director of the Company, totalling £Nil (2023: £12,908). A balance of £10,606 was outstanding at the year end (2023: £10,606). 


16.


Controlling party

The ultimate parent undertaking of the Company is Symetrica Limited. Symetrica Limited's principal place of business is 1st Floor Kenneth Dibben House Southampton Science Park Enterprise Road, Chilworth Southampton, Engalnd, SO16 7NS.
The largest and smallest group in which the results of the company are consolidated is that headed by Symetrica Limited. The consolidated financial statements can be obtained from Symetrica Limited's principal place of business.


17.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 24 March 2025 by James Hadfield FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

 
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