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REGISTERED NUMBER: 13717807 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SECURITYGEN LTD

SECURITYGEN LTD (REGISTERED NUMBER: 13717807)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


SECURITYGEN LTD

COMPANY INFORMATION
For The Year Ended 31 December 2024







DIRECTORS: A Nath
C Hills





REGISTERED OFFICE: Level 3 207 Regent Street
London
United Kingdom
W1B 3HH





REGISTERED NUMBER: 13717807 (England and Wales)

SECURITYGEN LTD (REGISTERED NUMBER: 13717807)

ABRIDGED BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 1,338,763 413,083
Tangible assets 5 5,586 7,219
Investments 6 29,815 29,815
1,374,164 450,117

CURRENT ASSETS
Debtors 448,763 945,239
Cash at bank 3,319 51,306
452,082 996,545
CREDITORS
Amounts falling due within one year 1,062,756 1,216,524
NET CURRENT LIABILITIES (610,674 ) (219,979 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

763,490

230,138

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 763,489 230,137
SHAREHOLDERS' FUNDS 763,490 230,138

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:





A Nath - Director


SECURITYGEN LTD (REGISTERED NUMBER: 13717807)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024


1. STATUTORY INFORMATION

SecurityGen Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents sales of technology security services, excluding value added tax, during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of 20 years.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment-33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

Taxation
Taxation for the year comprises of current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods.

Current tax assets and liabilities are not discounted and are recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. Balances at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.

SECURITYGEN LTD (REGISTERED NUMBER: 13717807)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Management charges
The company receives management charges throughout the year which relate to operations conducted by group subsidiaries. The wholly owned subsidiaries operate outside the UK and exist solely for the benefit of SecurityGen Ltd. Management charges are calculated based on total overheads for each month, plus a 5% mark-up, where agreed. At the end of each year, management reserves the right to make an adjustment to the charges to ensure costs are reflected accurately across the group.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 421,329
Additions 969,144
At 31 December 2024 1,390,473
AMORTISATION
At 1 January 2024 8,246
Amortisation for year 43,464
At 31 December 2024 51,710
NET BOOK VALUE

At 31 December 2024 1,338,763
At 31 December 2023 413,083

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2024 8,857
Additions 1,553
At 31 December 2024 10,410
DEPRECIATION
At 1 January 2024 1,638
Charge for year 3,186
At 31 December 2024 4,824
NET BOOK VALUE
At 31 December 2024 5,586
At 31 December 2023 7,219

SECURITYGEN LTD (REGISTERED NUMBER: 13717807)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2024
and 31 December 2024 29,815
NET BOOK VALUE
At 31 December 2024 29,815
At 31 December 2023 29,815

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditor was unqualified.

Nicholas Hume FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Ltd

8. RELATED PARTY DISCLOSURES

The following balances were due to related parties at the end of the reporting period:

2024 2023
£ £

SecurityGen Italy S.R.L 100,894 176,213
SecurityGen Korea Ltd 53,445 47,750
SecurityGen Cyber Security LLC 64,907 -
219,246 223,963


During the year, there were transactions totalling £133,031 with Fram Global Capital Limited, a related party.