Registration number: 13089636

Securfin Service Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Securfin Service Ltd

Company Information

Director

Matthew Malcolm Aldridge

Registered office

5th Floor North Side 7/10 Chandos Street Cavendish Square London W1G 9DQ

Securfin Service Ltd

(Registration number: 13089636)
Balance Sheet as at 31 December 2024

	Note	2024 £	(As restated) 2023 £
Fixed assets
Tangible assets	4	16,746	20,698
Current assets
Debtors	5	1,000	4,284
Cash at bank and in hand		49,539	36,430
		50,539	40,714
Creditors: Amounts falling due within one year	6	(1,373,057)	(1,345,538)
Net current liabilities		(1,322,518)	(1,304,824)
Net liabilities		(1,305,772)	(1,284,126)
Capital and reserves
Called up share capital	7	1,000	1,000
Retained earnings		(1,306,772)	(1,285,126)
Shareholders' deficit		(1,305,772)	(1,284,126)

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 September 2025
 

......................................... Matthew Malcolm Aldridge Director

Securfin Service 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 England.

The address of its registered office is:
5th Floor North Side
7/10 Chandos Street
Cavendish Square
London
W1G 9DQ
England

These financial statements were authorised for issue by the director on 26 September 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.

Going concern

The financial statements have been prepared on a going concern basis.

Reclassification of comparative amounts

In the current financial year, the company has reclassified an amount of £1,336,218 previously presented under loans to amounts owed to group undertakings. This reclassification was made to more accuarately reflect the nature of the balance. This change in presentation has no impact on reported net earnings for the comparative period.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Securfin Service Ltd

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

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
Office equipment	25% straight line
Fixtures and fittings	25% straight line
Other tangible assets	25% straight line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Securfin Service Ltd

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

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 5).

Securfin Service Ltd

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

4	Tangible assets

	Fixtures and fittings £	Office equipment £	Other tangible assets  £	Total £
Cost or valuation
At 1 January 2024	6,954	7,118	14,760	28,832
At 31 December 2024	6,954	7,118	14,760	28,832
Depreciation
At 1 January 2024	1,086	3,287	3,761	8,134
Charge for the year	696	1,780	1,476	3,952
At 31 December 2024	1,782	5,067	5,237	12,086
Carrying amount
At 31 December 2024	5,172	2,051	9,523	16,746
At 31 December 2023	5,868	3,831	10,999	20,698

5

Debtors

Current	2024 £	2023 £
Prepayments	-	2,421
Other debtors	1,000	1,863
	1,000	4,284

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	(As restated) 2023 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		1,365,732	1,338,392
Accruals and deferred income		6,756	6,617
Other creditors		569	529
		1,373,057	1,345,538

The amounts owed to group undertakings are interest free and payable on demand.

Securfin Service Ltd

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

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1,000	1,000	1,000	1,000

8	Parent and ultimate parent undertaking

The company's immediate parent is Securfin Old Barn srl, incorporated in Italy.

 The ultimate parent is Angel Capital Management Spa, incorporated in Italy

  These financial statements are available upon request from Galleria de Christoforis 8, 20122 Milano, Italy.