Company registration number 922180 (England and Wales)
CREDIT SECURITY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
CREDIT SECURITY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
CREDIT SECURITY LIMITED
BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
4,000,000
4,002,393
Current assets
Debtors
6
241,633
110,418
Cash at bank and in hand
632,711
256,729
874,344
367,147
Creditors: amounts falling due within one year
7
(823,954)
(900,792)
Net current assets/(liabilities)
50,390
(533,645)
Total assets less current liabilities
4,050,390
3,468,748
Creditors: amounts falling due after more than one year
8
(973,649)
(329,817)
Net assets
3,076,741
3,138,931
Capital and reserves
Called up share capital
454,312
454,312
Revaluation reserve
815,346
815,346
Profit and loss reserves
1,807,083
1,869,273
Total equity
3,076,741
3,138,931

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

CREDIT SECURITY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2025
31 July 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 July 2026 and are signed on its behalf by:
Mr L Slade
Director
Company Registration No. 922180
CREDIT SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
1
Accounting policies
Company information

Credit Security Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Court House, High Street, Whitchurch, Aylesbury, Buckinghamshire, United Kingdom, HP22 4JS.

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is defined as commissions and fees received and related services before charging value added tax.

Commissions are recognised within the financial statements upon collection of funds on behalf of the company's customers, calculated at the contractual rate agreed with each customer.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, has been fully amortised over its estimated useful life of five years.

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

1.4
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and equipment
20% Straight Line
Fixtures and fittings
10% on cost
Computers
20% Straight Line
Motor vehicles
20% Straight Line
CREDIT SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 4 -

Freehold property is revalued to open market value on a regular basis at which point the aggregate surplus or deficit arising on revaluation is transferred to the revaluation reserve except where a deficit is deemed to represent a permanent diminution in value, in which case it is charged to the profit and loss account.

At each reporting date, tangible fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the consolidated statement of comprehensive income.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment is recognised immediately in the consolidated statement of comprehensive income.

1.5
Cash at bank and in hand

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 current liabilities.

Debtors

Trade and other debtors are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest. Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment.

Creditors

Trade and other creditors are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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

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.

CREDIT SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

Short term employee benefits, other non-monetary benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
45
59
CREDIT SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 6 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2024 and 31 July 2025
12,500
Amortisation and impairment
At 1 August 2024 and 31 July 2025
12,500
Carrying amount
At 31 July 2025
-
0
At 31 July 2024
-
0
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost or valuation
At 1 August 2024 and 31 July 2025
4,000,000
1,150,281
5,150,281
Depreciation and impairment
At 1 August 2024
-
0
1,147,888
1,147,888
Depreciation charged in the year
-
0
2,393
2,393
At 31 July 2025
-
0
1,150,281
1,150,281
Carrying amount
At 31 July 2025
4,000,000
-
0
4,000,000
At 31 July 2024
4,000,000
2,393
4,002,393
The freehold land and buildings were valued by the directors on 31 July 2025, 31 July 2024 and 31 July 2023.
Cost or valuation at 31 July 2025 for the freehold property is represented by:
Freehold property
£
Cost
3,184,654
Valuation in 2017
1,286,018
Valuation in 2022
(470,672)
Carrying value
4,000,000
CREDIT SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 7 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
165,237
8,546
Other debtors
76,396
101,872
241,633
110,418
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
120,135
89,345
Trade creditors
46,739
36,712
Taxation and social security
335,506
131,402
Other creditors
321,574
643,333
823,954
900,792
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
324,535
233,036
Other creditors
649,114
96,781
973,649
329,817
9
Loans and overdrafts
2025
2024
£
£
Bank loans
444,670
322,381
Payable within one year
120,135
89,345
Payable after one year
324,535
233,036

There is a loan from Barclays of £57,344 (2024: £101,553) which is secured by way of a charge over the company's freehold properties. Interest is charged on this loan at a rate of Bank of England base rate plus 1.5%.

There are two loans from the Credit Security Trust Fund of £387,326 (2024: £220,828) which is secured by way of a charge over one of the company's freehold properties. Interest is charged on this loan at a rate of 6%/6.25%.

CREDIT SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 8 -
10
Directors' transactions

At the year end there was £9,487 due from (2024: £2,981 due to) Lance Slade. This was interest free, unsecured and repayable on demand. It was repaid to the company after the year end.

11
Ultimate controlling party

The ultimate controlling party for the current year and preceding period was L A Slade.

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