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REGISTERED NUMBER: 07994220 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SEGURA SYSTEMS LIMITED

SEGURA SYSTEMS LIMITED (REGISTERED NUMBER: 07994220)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SEGURA SYSTEMS LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: P Needle
C Rocos
P A Wall





SECRETARY: P Needle





REGISTERED OFFICE: Advanced Technology Innovation Centre
Loughborough University Science
& Enterprise Park
5 Oakwood Drive
Loughborough
LE11 3QF





REGISTERED NUMBER: 07994220 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

SEGURA SYSTEMS LIMITED (REGISTERED NUMBER: 07994220)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,078 -

CURRENT ASSETS
Debtors 5 103,358 137,677
Cash at bank 198,602 102,405
301,960 240,082
CREDITORS
Amounts falling due within one year 6 (176,290 ) (149,580 )
NET CURRENT ASSETS 125,670 90,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,748

90,502

CREDITORS
Amounts falling due after more than one
year

7

(11,898

)

(21,416

)
NET ASSETS 116,850 69,086

CAPITAL AND RESERVES
Called up share capital 8 61,156 60,898
Share premium 5,263,539 5,260,100
Retained earnings (5,207,845 ) (5,251,912 )
SHAREHOLDERS' FUNDS 116,850 69,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 June 2025 and were signed on its behalf by:





P A Wall - Director


SEGURA SYSTEMS LIMITED (REGISTERED NUMBER: 07994220)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024


1. STATUTORY INFORMATION

Segura Systems Limited is a private company, limited company limited by shares, registered in England and Wales. Its registered office address is Advanced Technology Innovation Centre, Loughborough University Science & Enterprise Park, 5 Oakwood Drive, Loughborough, Leicestershire, LE11 3QF and the registered number is 07994220.

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.

The presentation currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Revenue from contracts for the provision of services and software licences is recognised in the period to which it relates, usually monthly for the provision of software licencing and support in that month.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.

Computer Equipment33%Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

SEGURA SYSTEMS LIMITED (REGISTERED NUMBER: 07994220)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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

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.

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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

SEGURA SYSTEMS LIMITED (REGISTERED NUMBER: 07994220)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Employee benefits
The company provides share based payment arrangements to certain employees.

Equity-settled arrangements are measured at fair value the date of the grant. The fair value is expensed on a straight-line basis over the vesting period. The amount recognised as an expense is adjusted to reflect the actual number of shares or options that will vest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2023 4,627
Additions 4,595
At 30 September 2024 9,222
DEPRECIATION
At 1 October 2023 4,627
Charge for year 1,517
At 30 September 2024 6,144
NET BOOK VALUE
At 30 September 2024 3,078
At 30 September 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 89,499 133,403
Prepayments and accrued income 13,859 4,274
103,358 137,677

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,518 9,518
Trade creditors 11,802 8,558
Social security and other taxes 15,940 15,002
VAT 37,538 27,754
Other creditors 3,470 3,087
Accruals and deferred income 98,022 85,661
176,290 149,580

SEGURA SYSTEMS LIMITED (REGISTERED NUMBER: 07994220)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - due in more than
one year 11,898 21,416
11,898 21,416

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60,554,212 Ordinary £0.001 60,813 60,555
2,428,561 Ordinary £0.0001 243 243
1,000,670 B Ordinary £0.0001 100 100
61,156 60,898

9. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

Operating lease commitments not included in the balance sheet amount to £6,274 (2023 £11,294).

10. SHARE-BASED PAYMENTS

Certain employees participate in the employee share option plan which grants share options in the company. Vesting of the options is subject to continued employment within the company. The options are granted with a fixed exercise price and are exercisable in the event of a qualifying share sale (as defined in the share option scheme rules) , a listing or a disposal of the whole or substantially the whole of the assets of the company. Employees are required to remain in employment with the company until exercise, otherwise the options lapse. At the year end £1,158,978 (2023: £1,155,280) shares had vested.