Company No: 05068449 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	1,552,319		1,398,697
		1,552,319		1,398,697
Current assets
Debtors	5	965,050		1,007,503
Cash at bank and in hand		449,192		538,346
		1,414,242		1,545,849
Creditors: amounts falling due within one year	6	( 468,208)		( 542,809)
Net current assets		946,034		1,003,040
Total assets less current liabilities		2,498,353		2,401,737
Creditors: amounts falling due after more than one year	7	( 192,951)		( 74,242)
Provision for liabilities	8	( 354,390)		( 301,650)
Net assets		1,951,012		2,025,845
Capital and reserves
Called-up share capital	9	100		100
Profit and loss account		1,950,912		2,025,745
Total shareholder's funds		1,951,012		2,025,845

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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Secure Data Management Limited (registered number: 05068449) were approved and authorised for issue by the Director on 29 September 2025. They were signed on its behalf by:

M P Chauveau Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Secure Data Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 645 Portslade Road, London, SW8 3DH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

Where material misstatements are found, the prior year figures are adjusted to allow comparability.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	depreciated over the life of the lease
Plant and machinery	5 - 25 % reducing balance
Vehicles	20 % reducing balance
Fixtures and fittings	5 - 25 % reducing balance
Computer equipment	5 - 25 % reducing balance

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Prior year adjustment

The comparative information has been restated to remove income accrued in error, to include depreciation on leasehold improvements not previously recognised, and to include a deferred tax provision relating to the prior prior year

		As previously reported		Adjustment		As restated
Year ended 31 December 2023		£		£		£
Accrued income		82,471		(82,471)		0
Turnover		5,434,237		(82,471)		5,351,766
Leasehold depreciation brought-forward		0		66,667		66,667
Leasehold depreciation charge in the year		0		13,333		13,333
Retained earnings carried forward		2,489,866		(464,121)		2,025,745
Deferred tax provision		0		301,650		301,650

3. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	50		45

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2024	257,020		1,802,204		649,569		18,934		81,313		2,809,040
Additions	0		193,876		88,230		0		17,262		299,368
Disposals	0		0		( 14,275)		0		0		( 14,275)
At 31 December 2024	257,020		1,996,080		723,524		18,934		98,575		3,094,133
Accumulated depreciation
At 01 January 2024	80,000		900,429		382,700		16,196		31,018		1,410,343
Charge for the financial year	19,669		51,900		64,494		137		5,804		142,004
Disposals	0		0		( 10,533)		0		0		( 10,533)
At 31 December 2024	99,669		952,329		436,661		16,333		36,822		1,541,814
Net book value
At 31 December 2024	157,351		1,043,751		286,863		2,601		61,753		1,552,319
At 31 December 2023	177,020		901,775		266,869		2,738		50,295		1,398,697

5. Debtors

	2024		2023
	£		£
Trade debtors	782,285		909,159
Amounts owed by connected companies	150,446		0
Prepayments	26,087		23,755
Other debtors	6,232		74,589
	965,050		1,007,503

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	125,995		167,073
Amounts owed to Group undertakings	35,460		0
Corporation tax	30,528		172,803
Other taxation and social security	171,352		154,052
Obligations under finance leases and hire purchase contracts (secured)	87,169		0
Other creditors	17,704		48,881
	468,208		542,809

Hire purchase liabilities are secured on the asset to which they relate.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Obligations under finance leases and hire purchase contracts	192,951		74,242

Hire purchase liabilities are secured on the asset to which they relate.

8. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 301,650)		( 301,650)
Charged to the Statement of Income and Retained Earnings	( 52,740)		0
At the end of financial year	( 354,390)		( 301,650)

9. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	615,891		615,891
between one and five years	2,355,024		2,391,204
after five years	2,705,720		3,285,431
	5,676,635		6,292,526

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2024		2023
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	14,571		6,244

11. Ultimate controlling party

Parent Company:

SDM Holdings Limited

645 Portslade Road London England SW8 3DH