Durus Security Limited - Accounts to registrar (filleted) - small 18.2
Durus Security Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Durus Security Limited |
| Unaudited Financial Statements for the Year Ended 31 December 2021 |
| Durus Security Limited (Registered number: 08269000) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Durus Security Limited |
| Company Information |
| for the Year Ended 31 December 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Durus Security Limited (Registered number: 08269000) |
| Balance Sheet |
| 31 December 2021 |
| 31.12.21 | 31.12.20 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| 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 and authorised for issue on |
| Durus Security Limited (Registered number: 08269000) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2021 |
| 1. | STATUTORY INFORMATION |
| Durus Security Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| In accordance with FRS 102, the Company has taken advantage of the exemptions from the following disclosure requirements; |
| - Section 26 'Share based Payment' |
| - Section 11 'Basic Financial Instruments' & Section 12 'Other Financial Instrument Issues' |
| - Section 7 'Statement of Cash Flows' |
| - Section 33 'Related Party Disclosures' - Compensation for key management personnel |
| Preparation of consolidated financial statements |
| The financial statements contain information about Durus Security Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| 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. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Financial instruments |
| The Company has elected to apply the provisions of Sections 11 and 12 of FRS 102, in full, to all of its financial instruments. |
| Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. |
| 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 balance sheet date. |
| Durus Security Limited (Registered number: 08269000) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Pension costs and other post-retirement benefits |
| The company operates a Workplace defined contribution pension scheme for the benefit of the employees and directors. The assets of the scheme are administered by an independent pensions provider. Workplace pension payments recognised as an expense during the year amount to £735 (2020: £750). |
| The Company also has made payments into a Directors money purchase pension scheme, the amount recognised as an expense during the year was £9900. |
| Going concern |
| Management produces forecasts which are sensitised to reflect plausible downside scenarios as a result of the COVID-19 pandemic, and its impact on the global economy, together with other events and factors. These forecasts are then reviewed by the directors to ensure that the Company will produce adequate profits and will generate sufficient cash reserves to enable the Company to meet its obligations as they fall due for at least a period of 12 months from the date of signing of these financial statements. |
| As such, the directors are satisfied that the Company has adequate resources to continue to operate for the foreseeable future. For this reason they continue to adopt the going concern basis for preparing these financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and | Computer |
| machinery | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2021 |
| and 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| Durus Security Limited (Registered number: 08269000) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2021 |
| and 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.21 | 31.12.20 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.21 | 31.12.20 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | FINANCIAL INSTRUMENTS |
| Derivatives |
| Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value, at each reporting date. The method of recognising the resulting gain or loss depends on whether the derivative is designated as a hedge for hedge accounting purposes, and if so, the nature of the risk being hedged. |
| The Company uses foreign exchange contracts to limit its exposure to foreign exchange risks on highly probably forecast foreign currency requirements. The Company does not designate these derivatives as hedges for accounting purposes and consequently fair value gains and losses are recognised in profit and loss. |