Company registration number 06302567 (England and Wales)
RELIANCE SECURITY GROUP LIMITED
(FORMERLY RELIANCE EXECUTIVE LIMITED)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
RELIANCE SECURITY GROUP LIMITED
(FORMERLY RELIANCE EXECUTIVE LIMITED)
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
RELIANCE SECURITY GROUP LIMITED
(FORMERLY RELIANCE EXECUTIVE LIMITED)
STATEMENT OF FINANCIAL POSITION
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Investments
4
4,782,768
4,782,768
Current assets
Cash and cash equivalents
681
711
Net current assets
681
711
Total assets less current liabilities
4,783,449
4,783,479
Non-current liabilities
5
(4,878,423)
(4,878,423)
Net liabilities
(94,974)
(94,944)
Equity
Called up share capital
6
109
109
Retained earnings
(95,083)
(95,053)
Total equity
(94,974)
(94,944)
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 27 June 2025 and are signed on its behalf by:
A Rae
Director
Company registration number 06302567 (England and Wales)
RELIANCE SECURITY GROUP LIMITED
(FORMERLY RELIANCE EXECUTIVE LIMITED)
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 July 2022
109
(124,667)
(124,558)
Year ended 30 June 2023:
Profit and total comprehensive income
-
129,614
129,614
Dividends
3
-
(100,000)
(100,000)
Balance at 30 June 2023
109
(95,053)
(94,944)
Year ended 30 June 2024:
Profit and total comprehensive income
-
1,529,970
1,529,970
Dividends
3
-
(1,530,000)
(1,530,000)
Balance at 30 June 2024
109
(95,083)
(94,974)
RELIANCE SECURITY GROUP LIMITED
(FORMERLY RELIANCE EXECUTIVE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Reliance Security Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-21 Catherine Place, London, SW1E 6DX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006, as applicable to companies subject to the small companies' regime. The disclosure requirements of Section 1A of FRS 102 have been applied, other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
Reliance Security Group Limited is a wholly owned subsidiary of Reliance Trust Limited and the results of Reliance Security Group Limited are included in the consolidated financial statements of Reliance Trust Limited which are available from 19-21 Catherine Place, London, SW1E 6DX.
1.2
Going concern
The company has net liabilities amounting to £94,974 at the balance sheet date. The ultimate parent company, Reliance Trust Limited, has agreed to provide financial support as required, to enable the company to supply working capital as and when necessary, for a period of at least twelve months from the date of approval of these financial statements.
Furthermore, the parent company Reliance Trust Limited has taken ownership of the balance of non-redeemable preference shares of £4,782,768 and will not seek payment in respect thereof. Accordingly the directors adopt the going concern basis in preparing the financial statements.
Having given due consideration to the above factors and taking into account any possible developments in the foreseeable future, the directors believe it is appropriate to continue to adopt the going concern basis in preparing the annual report and accounts.
1.3
Non-current investments
Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses, or reversals of impairment losses, are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
RELIANCE SECURITY GROUP LIMITED
(FORMERLY RELIANCE EXECUTIVE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(continued)
- 4 -
1.4
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 in the company's statement of financial position 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 cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
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 loans from fellow group companies, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
1.6
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 non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
RELIANCE SECURITY GROUP LIMITED
(FORMERLY RELIANCE EXECUTIVE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
Employees
The average monthly number of persons (including directors), employed by the company during the year was 2 (2023 - 2).
2024
2023
Number
Number
Total
2
2
3
Dividends
2024
2023
£
£
Final paid
1,530,000
100,000
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
4,782,768
4,782,768
5
Non-current liabilities
2024
2023
£
£
Other payables
4,878,423
4,878,423
On 10 March 2021, the company issued 4,782,768 Non-Redeemable Preference shares to the ultimate controlling party for an amount of £4,782,768, with the ownership transferring to the parent company in 2024.
The company pays a preference dividend to the holders of the Non-Redeemable Preference shares at the rate of 2% per annum, accruing daily on capital paid up.
The Non-Redeemable Preference shares are classified as liabilities in accordance with the provisions of FRS 102.
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.000001p each
109,081,171
109,081,171
109
109
RELIANCE SECURITY GROUP LIMITED
(FORMERLY RELIANCE EXECUTIVE LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 30 JUNE 2024
6
Called up share capital
(continued)
- 6 -
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
4,782,768
4,782,768
4,782,768
4,782,768
Preference shares classified as liabilities
4,782,768
4,782,768
The Ordinary shares entitle the shareholder to one vote each, equal rights to participate in dividends and capital distributions and are not redeemable.
The non-redeemable Preference shares hold no voting rights. Interest accrues at 2% per annum as a fixed, cumulative, non-compounding preferential dividend paid annually.
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Christopher Mantel
Statutory Auditor:
Alliotts LLP
Date of audit report:
27 June 2025
8
Parent company
Reliance Trust Limited, incorporated in the United Kingdom, is the company's immediate and ultimate parent company. Both companies have their registered offices at 19-21 Catherine Place, London, SW1E 6DX.
During the year the ultimate controlling party was B Kingham. Following the year end, the ultimate controlling parties are B Kingham and A Rae.