Registration number: NI064909

Ansec IA Ltd

(Registration number: NI064909)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	25,366	51,465
Current assets
Stocks	5	71,906	310,256
Debtors	6	569,438	427,343
Cash at bank and in hand		27,429	166,919
		668,773	904,518
Creditors: Amounts falling due within one year	7	(84,816)	(118,900)
Net current assets		583,957	785,618
Total assets less current liabilities		609,323	837,083
Provisions for liabilities		-	(12,866)
Net assets		609,323	824,217
Capital and reserves
Called up share capital	8	36	36
Retained earnings		609,287	824,181
Shareholders' funds		609,323	824,217

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

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Ansec IA Ltd

(Registration number: NI064909)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 28 February 2025 and signed on its behalf by:
 

......................................... Mr Terrance Moore Director

Ansec IA Ltd

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

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit E4 Plasketts Close, Antrim, Co Antrim, BT41 4LY.

These financial statements were authorised for issue by the Board on 28 February 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 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.

Group accounts not prepared

The company has taken advantage of the exemption under Section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

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.

Ansec IA Ltd

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

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.

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
Fixtures, fittings and equipment	25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Ansec IA Ltd

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

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 22 (2023 - 22).

Ansec IA Ltd

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

4	Tangible assets

	Tenant improvements £	Fixtures, fittings and equipment £	Total £
Cost or valuation
At 1 January 2024	23,482	360,823	384,305
At 31 December 2024	23,482	360,823	384,305
Depreciation
At 1 January 2024	23,482	309,358	332,840
Charge for the year	-	26,099	26,099
At 31 December 2024	23,482	335,457	358,939
Carrying amount
At 31 December 2024	-	25,366	25,366
At 31 December 2023	-	51,465	51,465

5

Stocks

	2024 £	2023 £
Work in progress	71,906	310,256

6

Debtors

Current	2024 £	2023 £
Trade debtors	261,202	336,318
Prepayments	26,446	6,824
Other debtors	281,790	84,201
	569,438	427,343

Ansec IA Ltd

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

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	5,871	3,734
Taxation and social security	53,536	51,012
Accruals and deferred income	21,782	54,644
Other creditors	3,627	9,510
	84,816	118,900

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	28	28	28	28
Ordinary A of £1 each	8	8	8	8
	36	36	36	36

9	Parent and ultimate parent undertaking

The company is a wholly owned subsidiary of Outsource Group Holding Ltd, a company incorporated in Northern Ireland.

The ultimate controlling party is Mr Terrance Moore.