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Company Registration No. 13541894 (England and Wales)
Sec Accounting Services Ltd Unaudited accounts for the year ended 31 July 2024
Sec Accounting Services Ltd Unaudited accounts Contents
Page
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Sec Accounting Services Ltd Company Information for the year ended 31 July 2024
Director
Sylvester Fredrick Kavalo
Company Number
13541894 (England and Wales)
Registered Office
15 St. Cuthberts Street Bedford Bedfordshire MK40 3JG England
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Sec Accounting Services Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
672 
644 
Current assets
Debtors
4,650 
5,528 
Cash at bank and in hand
2,652 
6,905 
7,302 
12,433 
Creditors: amounts falling due within one year
(8,735)
(6,911)
Net current (liabilities)/assets
(1,433)
5,522 
Net (liabilities)/assets
(761)
6,166 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(762)
6,165 
Shareholders' funds
(761)
6,166 
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 April 2025 and were signed on its behalf by
Sylvester Fredrick Kavalo Director Company Registration No. 13541894
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Sec Accounting Services Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
Sec Accounting Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 13541894. The registered office is 15 St. Cuthberts Street, Bedford, Bedfordshire, MK40 3JG, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.33%
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Sec Accounting Services Ltd Notes to the Accounts for the year ended 31 July 2024
Taxation
Income tax expense represent the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expenses that are taxable or deductible in other year and items that are never taxable and deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing difference between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for timing differences. Deferred tax assets generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences be utilised. The carrying amount of deferred is reviewed at the end each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rate that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow the manner in which the company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in the profit and loss, except when they are related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. Deferred tax assets and liabilities are not discounted.
Presentation currency
The accounts are presented in £ sterling.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 August 2023
799 
Additions
399 
At 31 July 2024
1,198 
Depreciation
At 1 August 2023
155 
Charge for the year
371 
At 31 July 2024
526 
Net book value
At 31 July 2024
672 
At 31 July 2023
644 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
4,628 
5,528 
Accrued income and prepayments
22 
- 
4,650 
5,528 
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Sec Accounting Services Ltd Notes to the Accounts for the year ended 31 July 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
- 
1,192 
Other creditors
- 
5,719 
Loans from directors
8,735 
- 
8,735 
6,911 
7
Average number of employees
During the year the average number of employees was 2 (2023: 3).
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