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Registration number: 06677841

Provide SESS Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Provide SESS Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Provide SESS Limited

Company Information

Director

Mr Stuart Turnbull

Registered office

City Gate Business Park
95-107 Southampton Street
Reading
Berkshire
RG1 2QU

Solicitors

Darby Law
Tudor Chambers
Fore Street
St. Marychurch
Torquay
Devon
TQ1 4PR

Bankers

Barclays Bank Plc
Reading
90-93 Broad Street
Reading
RG1 2AP

Accountants

WoodWhite Accountants Ltd
Unit 4 City Limits
Danehill
Reading
Berkshire
RG6 4UP

 

Provide SESS Limited

(Registration number: 06677841)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

170,461

172,640

Current assets

 

Debtors

5

2,981,195

3,930,644

Cash at bank and in hand

 

1,042,890

986,210

 

4,024,085

4,916,854

Creditors: Amounts falling due within one year

6

(1,571,835)

(2,775,064)

Net current assets

 

2,452,250

2,141,790

Total assets less current liabilities

 

2,622,711

2,314,430

Creditors: Amounts falling due after more than one year

6

(31,226)

(71,982)

Provisions for liabilities

(36,131)

(32,802)

Net assets

 

2,555,354

2,209,646

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,555,254

2,209,546

Shareholders' funds

 

2,555,354

2,209,646

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 April 2025
 

 

Provide SESS Limited

(Registration number: 06677841)
Balance Sheet as at 31 August 2024

.........................................
Mr Stuart Turnbull
Director

 

Provide SESS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
City Gate Business Park
95-107 Southampton Street
Reading
Berkshire
RG1 2QU

These financial statements were authorised for issue by the director on 25 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. The directors are of the opinion that the company will trade profitably in the foreseeable future and therefore believes that it is appropriate for the financial statements to be prepared on a going concern basis.

 

Provide SESS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

a) Depreciation

Depreciation is charged to the profit and loss account based on the useful economic life selected, which involves an estimation of the period and profile over which the company expects to consume future economic benefits embodied in the assets.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Revenue is recognised for the provision of services as the contractual activity progresses.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Provide SESS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Straight Line

Office equipment

33.33% Straight Line

Fixtures and fittings

25% Reducing Balance

Motor vehicles

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Provide SESS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 264 (2023 - 254).

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

18,994

23,804

16,340

258,741

317,879

Additions

-

1,620

30,520

43,374

75,514

Disposals

(675)

(188)

(8,144)

(73,959)

(82,966)

At 31 August 2024

18,319

25,236

38,716

228,156

310,427

Depreciation

At 1 September 2023

9,295

16,133

12,612

107,199

145,239

Charge for the year

2,413

4,276

7,893

45,551

60,133

Eliminated on disposal

(447)

(188)

(8,064)

(56,707)

(65,406)

At 31 August 2024

11,261

20,221

12,441

96,043

139,966

Carrying amount

At 31 August 2024

7,058

5,015

26,275

132,113

170,461

At 31 August 2023

9,699

7,671

3,728

151,542

172,640

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

666,917

1,020,406

Amounts owed by related parties

2,038,186

2,392,599

Prepayments

 

28,706

25,167

Other debtors

 

247,386

492,472

   

2,981,195

3,930,644

 

Provide SESS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

40,800

40,800

Trade creditors

 

134,294

605,026

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

1,475,000

Taxation and social security

 

316,426

20,623

Accruals and deferred income

 

542,766

481,408

Other creditors

 

537,549

152,207

 

1,571,835

2,775,064

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

31,226

71,982

7

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

31,226

71,982

2024
£

2023
£

Current loans and borrowings

Bank borrowings

40,800

40,800

 

Provide SESS Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

27,000

27,000

Later than one year and not later than five years

-

27,000

27,000

54,000

The amount of non-cancellable operating lease payments recognised as an expense during the year was £27,000 (2023 - £27,000).

9

Parent and ultimate parent undertaking

The company's immediate parent is Provide Security Group Ltd, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Provide Security Group Ltd. These financial statements are available upon request from Unit 4, City Limits, Danehill, Reading, Berkshire, RG6 4UP