Surecomp Business Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04027496 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

SURECOMP BUSINESS SOLUTIONS LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J I Koschitzky

Mr A Soward

REGISTERED OFFICE:

ViewPoint

Basing View

Basingstoke

Hampshire

RG21 4RG

REGISTERED NUMBER:

04027496 (England and Wales)

AUDITORS:

Raffingers LLP

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Tangible assets

4

6,681

6,900

Investments

5

11,021,129

10,993,086

11,027,810

10,999,986

CURRENT ASSETS

Debtors

228,111

59,592

Cash at bank and in hand

494,002

4,706,447

722,113

4,766,039

CREDITORS

Amounts falling due within one year

594,733

44,243

NET CURRENT ASSETS

127,380

4,721,796

TOTAL ASSETS LESS CURRENT LIABILITIES

11,155,190

15,721,782

CAPITAL AND RESERVES

Called up share capital

7,864,169

7,864,169

Retained earnings

3,291,021

7,857,613

SHAREHOLDERS' FUNDS

11,155,190

15,721,782

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 9 March 2020 and were signed on its behalf by:

Mr J I Koschitzky - Director

1.	STATUTORY INFORMATION

Surecomp Business Solutions Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the US Dollar ($).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The directors consider that the company has adequate resources to remain in operation for the foreseeable future

and have therefore continued to adopt the going concern basis in preparing the financial statements. As with all

business forecasts, the directors’ statement cannot guarantee that the going concern basis will remain appropriate

given the inherent uncertainty about future events.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Computer equipment

-

25% - 50% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies

Items included in the financial statements of the company are measured using the currency in which the

consolidated accounts are prepared (USD), although the functional currency of the company is GBP.

Assets and liabilities in foreign currencies are translated at the rates of exchange ruling at the balance sheet date.

Transactions are translated at the rate of exchange ruling at the date of the transaction. Exchange differences are

taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising

from impairment are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

$

COST

At 1 January 2019

20,519

Additions

2,650

At 31 December 2019

23,169

DEPRECIATION

At 1 January 2019

13,619

Charge for year

2,869

At 31 December 2019

16,488

NET BOOK VALUE

At 31 December 2019

6,681

At 31 December 2018

6,900

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

$

COST

At 1 January 2019

10,993,086

Additions

28,043

At 31 December 2019

11,021,129

NET BOOK VALUE

At 31 December 2019

11,021,129

At 31 December 2018

10,993,086

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Adam Howard Moody FCCA (Senior Statutory Auditor)

for and on behalf of Raffingers LLP

7.	CONTINGENT LIABILITIES

There were no contingent liabilities at the end of the financial year.

8.	CAPITAL COMMITMENTS

The company had no capital commitments at 31 December 2019 or 31 December 2018.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

10.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns

to the tax authorities and assist with the preparation of the financial statements.

11.	AUDITOR LIABILITY LIMITATION AGREEMENT

The company has entered into a liability limitation agreement with Raffingers, the statutory auditor, in respect of

the statutory audit for the year ended 31 December 2019. The proportionate liability agreement follows the

standard terms in Appendix 1 to the Financial Reporting Council's June 2008 Guidance on Auditor Liability

Agreements, and was approved by the directors on 25 February 2020.