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REGISTERED NUMBER: 12204024 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

HEIMDAL SECURITY UK LIMITED

HEIMDAL SECURITY UK LIMITED (REGISTERED NUMBER: 12204024)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


HEIMDAL SECURITY UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTOR: Mr J Butcher





REGISTERED OFFICE: Orega (Management) Ltd
80 Strand
London
WC2R 0RL





REGISTERED NUMBER: 12204024 (England and Wales)





INDEPENDENT AUDITORS: Watergates Ltd (Statutory Auditor)
109 Coleman Road
Leicester
Leicestershire
LE5 4LE

HEIMDAL SECURITY UK LIMITED (REGISTERED NUMBER: 12204024)

STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024

31/12/24 31/12/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,995 -

CURRENT ASSETS
Debtors 5 1,172,979 968,266
Cash at bank and in hand 24,489 58,661
1,197,468 1,026,927
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

(547,129

)

(513,668

)
NET CURRENT ASSETS 650,339 513,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

652,334

513,259

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 652,333 513,258
SHAREHOLDERS' FUNDS 652,334 513,259

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4th June 2025 and were signed by:





Mr J Butcher - Director


HEIMDAL SECURITY UK LIMITED (REGISTERED NUMBER: 12204024)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024


1. STATUTORY INFORMATION

Heimdal Security Uk Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

GOING CONCERN
The company uses liquid resources and working capital balances that arise directly from its operations. The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. Liquidity is monitored regularly by reference to forecasts and available facilities.

The director has reviewed future projections and prepared cash flow forecasts and sensitivity analysis, which he feels adequately reflects the current economic environment.The directors are satisfied that there will be sufficient cash resources generated from its operations to enable the company to continue without the requirement for any new external finance. The parent company has also confirmed through a letter of support that it will continue to provide financial support to the company for at least 12 months from the date of approval of the financial statements.

After considering all relevant uncertainties, the director has a reasonable expectation that the company has adequate resources to continue as a going concern for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

TURNOVER
Turnover 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.

Turnover represents costs recharged to the parent under an intercompany service agreement.

TANGIBLE FIXED ASSETS
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment
losses. Such cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual
value of each asset over its estimated useful life:
Fixtures and fittings - 12 months straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

HEIMDAL SECURITY UK LIMITED (REGISTERED NUMBER: 12204024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

IMPAIRMENT OF ASSETS
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include other debtors (including prepayments) and amounts owed by group undertakings, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors (including accruals), and amounts owed to fellow group companies, 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 method.


HEIMDAL SECURITY UK LIMITED (REGISTERED NUMBER: 12204024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued
Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company’s contractual obligations are discharged, cancelled, or they expire.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of transaction costs.

TAXATION
Taxation for the year comprises current and deferred 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 or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

EMPLOYEE BENEFITS
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

FOREIGN CURRENCIES
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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Income Statement except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Income Statement within 'finance income or costs'.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

HEIMDAL SECURITY UK LIMITED (REGISTERED NUMBER: 12204024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


2. ACCOUNTING POLICIES - continued

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.

For defined contribution schemes the amount charged to profit or loss is the contributions payable in the year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 3,420
At 31st December 2024 3,420
DEPRECIATION
Charge for year 1,425
At 31st December 2024 1,425
NET BOOK VALUE
At 31st December 2024 1,995

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Amounts owed by group undertakings 905,762 863,563
Other debtors 267,217 104,703
1,172,979 968,266

Amounts owed by group undertakings are repayable on demand and interest free.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 12,137 12,873
Amounts owed to group undertakings 362 286
Taxation and social security 122,653 140,066
Other creditors 411,977 360,443
547,129 513,668

HEIMDAL SECURITY UK LIMITED (REGISTERED NUMBER: 12204024)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/24 31/12/23
£    £   
Within one year 138,286 127,544

8. DEFERRED TAX
£   
Balance at 1st January 2024 (681 )
Charge to Income Statement during year 417
Balance at 31st December 2024 (264 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/24 31/12/23
value: £    £   
1 Ordinary 1 1 1

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

The Report of the Auditors was unqualified.

Nazir Malida FCCA (Senior Statutory Auditor)
for and on behalf of Watergates Ltd (Statutory Auditor)

11. RELATED PARTY DISCLOSURES

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.

12. PARENT COMPANY

The smallest group in which the results of the company are consolidated is that headed by Heimdal Security A/S, a private limited company incorporated in Denmark. The consolidated accounts of Hemidal Security A/S are available from its registered office Vester Fairmagsgade 1, 3 Sal, 1606 Copenhagen, Denmark.