Company Registration No. 11076599 (England and Wales)
Subsec Limited
Unaudited accounts
for the year ended 30 November 2024
Subsec Limited
Unaudited accounts
Contents
Subsec Limited
Company Information
for the year ended 30 November 2024
Company Number
11076599 (England and Wales)
Registered Office
3rd Floor
86-90 Paul Street
London
EC2A 4NE
England
Accountants
The Accountancy Cloud
Level 5a
Maple House
149 Tottenham Court Road
London
W1T 7NF
Subsec Limited
Statement of financial position
as at 30 November 2024
Cash at bank and in hand
25,919
6,230
Creditors: amounts falling due within one year
(606,201)
(604,989)
Net current liabilities
(580,282)
(594,282)
Net liabilities
(580,282)
(594,282)
Called up share capital
121
121
Share premium
499,772
499,772
Profit and loss account
(1,080,175)
(1,094,175)
Shareholders' funds
(580,282)
(594,282)
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 June 2026 and were signed on its behalf by
Patrick Foody
Director
Company Registration No. 11076599
Subsec Limited
Notes to the Accounts
for the year ended 30 November 2024
Subsec Limited is a private company, limited by shares, registered in England and Wales, registration number 11076599. The registered office is 3rd Floor, 86-90 Paul Street, London, EC2A 4NE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Computer equipment
25% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 December 2023
434
6,281
6,715
At 30 November 2024
434
6,281
6,715
At 1 December 2023
434
6,281
6,715
At 30 November 2024
434
6,281
6,715
Subsec Limited
Notes to the Accounts
for the year ended 30 November 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
253,328
245,256
Other creditors
349,655
349,815
Loans from directors
3,218
9,918
Allotted, called up and fully paid:
12,142 Ordinary shares of £0.01 each
121.42
121.42
8
Transactions with related parties
Included in Other creditors due within one year is a shareholder loan of £343,800 (2023 : £343,800), on which no interest is charged and is repayable on demand.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).