Computer Security Technology Ltd. - Accounts to registrar (filleted)

REGISTERED NUMBER: 03357980 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COMPUTER SECURITY TECHNOLOGY LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

8

DIRECTORS:

Mr N L A Lewis

Mrs M A Lewis

SECRETARY:

Mrs M A Lewis

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

03357980 (England and Wales)

ACCOUNTANTS:

Orcom Civvals Limited

Accountants

50 Seymour Street

London

W1H 7JG

FIXED ASSETS

Tangible assets

4

6,674

8,584

Investments

5

300,000

400,000

306,674

408,584

CURRENT ASSETS

Debtors

6

452,256

306,326

Cash at bank and in hand

461,763

479,733

914,019

786,059

CREDITORS

Amounts falling due within one year

7

(450,856

)

(304,505

)

NET CURRENT ASSETS

463,163

481,554

TOTAL ASSETS LESS CURRENT
LIABILITIES

769,837

890,138

CAPITAL AND RESERVES

Called up share capital

8

2

Retained earnings

9

769,835

890,136

SHAREHOLDERS' FUNDS

769,837

890,138

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:

Mr N L A Lewis - Director

1.	STATUTORY INFORMATION

Computer Security Technology 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.

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.

Preparation of consolidated financial statements

The financial statements contain information about Computer Security Technology Ltd. as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Tangible fixed assets

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

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are stated at cost less provisions for impairment. Carrying values are reviewed for impairment either annually, or more frequently if events or changes in circumstances indicate a possible decline in carrying values.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost

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 balance sheet date.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Leases

Rentals payable under operating leases are charged to profit or loss on a straight-line basis over the lease term, unless the rental payments are structured to increase in line with expected general inflation, in which case the company recognises annual rent expense to amounts owed to the lessor.

The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight line basis.

Pension costs

The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Contributions to the company's pension scheme are charged to the profit or loss in the period to which they relate.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised at the undiscounted amount of cash receivable, which is normally the invoice price, less any allowance for doubtful debts.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised at the undiscounted amount owed to the supplier, which is normally the invoice price.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 January 2024

31,948

64,429

96,377

Additions

-

1,244

At 31 December 2024

31,948

65,673

97,621

DEPRECIATION

At 1 January 2024

30,492

57,301

87,793

Charge for year

363

2,791

3,154

At 31 December 2024

30,855

60,092

90,947

NET BOOK VALUE

At 31 December 2024

1,093

5,581

6,674

At 31 December 2023

1,456

7,128

8,584

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

583,903

PROVISIONS

At 1 January 2024

183,903

Provision for year

100,000

At 31 December 2024

283,903

NET BOOK VALUE

At 31 December 2024

300,000

At 31 December 2023

400,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

338,085

134,825

Amounts owed by group undertakings

104,569

74,569

Other debtors

9,602

7,866

Directors' current accounts

-

89,066

452,256

306,326

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

339,614

206,155

Amounts owed to group undertakings

15,170

Tax

33,872

36,677

Social security and other taxes

8,186

11,245

VAT

8,610

4,482

Other creditors

1,427

1,387

Directors' current accounts

298

-

Accruals and deferred income

43,679

29,389

450,856

304,505

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

2

Ordinary

£1

2

9.

RESERVES

Retained

earnings

£

At 1 January 2024

890,136

Profit for the year

29,699

Dividends

(150,000

)

At 31 December 2024

769,835

10.	ULTIMATE CONTROLLING PARTY

International Computer Security Holdings Limited is the parent company and controls the company by virtue of its 100% shareholdings. It is a private company, limited by shares, registered in England and Wales. Its principal place of business is 5 Jewry Street, London, EC3N 2EX.

Mr N L A Lewis and Mrs M A Lewis are the ultimate controlling parties by virtue of their 100% shareholding in the parent undertaking.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Computer Security Technology Ltd. for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Computer Security Technology Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Computer Security Technology Ltd. and state those matters that we have agreed to state to the Board of Directors of Computer Security Technology Ltd., as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Computer Security Technology Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Computer Security Technology Ltd.. You consider that Computer Security Technology Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Computer Security Technology Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Orcom Civvals Limited

Accountants

50 Seymour Street

London

W1H 7JG

28 March 2025