Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-3132024-01-01falseManufacture of other electrical equipment2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09891900 2024-01-01 2024-12-31 09891900 2023-01-01 2023-12-31 09891900 2024-12-31 09891900 2023-12-31 09891900 c:Director1 2024-01-01 2024-12-31 09891900 d:OfficeEquipment 2024-01-01 2024-12-31 09891900 d:OfficeEquipment 2024-12-31 09891900 d:OfficeEquipment 2023-12-31 09891900 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 09891900 d:CurrentFinancialInstruments 2024-12-31 09891900 d:CurrentFinancialInstruments 2023-12-31 09891900 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 09891900 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09891900 d:ShareCapital 2024-12-31 09891900 d:ShareCapital 2023-12-31 09891900 d:RetainedEarningsAccumulatedLosses 2024-12-31 09891900 d:RetainedEarningsAccumulatedLosses 2023-12-31 09891900 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 09891900 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 09891900 c:FRS102 2024-01-01 2024-12-31 09891900 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09891900 c:FullAccounts 2024-01-01 2024-12-31 09891900 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09891900 2 2024-01-01 2024-12-31 09891900 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 09891900










SECUREX TECHNOLOGY LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
SECUREX TECHNOLOGY LTD
REGISTERED NUMBER: 09891900

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,060
-

Current assets
  

Stocks
 5 
20,372
13,135

Debtors: amounts falling due within one year
 6 
137,807
303,766

Cash at bank and in hand
  
27,704
99,026

  
185,883
415,927

Creditors: amounts falling due within one year
 7 
(180,277)
(271,831)

Net current assets
  
 
 
5,606
 
 
144,096

Total assets less current liabilities
  
8,666
144,096

Provisions for liabilities
  

Deferred tax
 8 
(765)
-

Net assets
  
7,901
144,096


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
7,801
143,996

  
7,901
144,096


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 on 10 March 2025.


Page 1

 
SECUREX TECHNOLOGY LTD
REGISTERED NUMBER: 09891900
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024



J M Bedford
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
SECUREX TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Securex Techology Ltd is a private Company limited by shares, incorporated in England and Wales (registered number: 09891900). Its registered office is Unit 1a Bedford Park, Barnsley Road, Wath-Upon-Dearne, Rotherham, England, S63 6DQ. The principal activity of the Company throughout the year continued to be that of manufacture of other electrical equipment.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is pounds sterling.

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.

 
2.3

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.

Page 3

 
SECUREX TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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 balance sheet 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.

 
2.8

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.

Page 4

 
SECUREX TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

The depreciation rates used are:

Office equipment
-
33%
straight line

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.

 
2.9

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, which range from 3 to 6 years.
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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5

 
SECUREX TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).

Page 6

 
SECUREX TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Office equipment

£



Cost


Additions
3,338



At 31 December 2024

3,338



Depreciation


Charge for the year on owned assets
278



At 31 December 2024

278



Net book value



At 31 December 2024
3,060



At 31 December 2023
-


5.


Stocks

2024
2023
£
£

Raw materials and consumables
20,372
13,135



6.


Debtors

2024
2023
£
£


Trade debtors
55,130
242,149

Other debtors
77,749
55,563

Prepayments and accrued income
4,928
6,054

137,807
303,766


Page 7

 
SECUREX TECHNOLOGY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
208
1,083

Amounts owed to related undertakings
89,125
98,630

Corporation tax
52,122
45,033

Other creditors
36,544
124,760

Accruals and deferred income
2,278
2,325

180,277
271,831



8.


Deferred taxation




2024


£






Charged to profit or loss
765



At end of year
765

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
765
-


9.


Controlling party

The ultimate controlling party is Mr WJ Bedford.

 
Page 8