SEC Services (UK) Limited - Accounts to registrar (filleted) - small 18.2

SEC Services (UK) Limited - Accounts to registrar (filleted) - small 18.2

SEC SERVICES (UK) LIMITED - Company Information

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SEC SERVICES (UK) LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2020






SEC SERVICES (UK) LIMITED (REGISTERED NUMBER: 05014730)

Contents of the Financial Statements
for the Year Ended 31 December 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SEC SERVICES (UK) LIMITED

Company Information
for the Year Ended 31 December 2020







DIRECTORS: S. Cranfield
Mrs J. Cranfield





SECRETARY: Mrs J. Cranfield





REGISTERED OFFICE: 123 Holifast Road
Sutton Coldfield
West Midlands
B72 1AF





REGISTERED NUMBER: 05014730 (England and Wales)





ACCOUNTANTS: Haslehursts Limited
88 Hill Village Road
Sutton Coldfield
West Midlands
B75 5BE
Page 1
SEC SERVICES (UK) LIMITED (REGISTERED NUMBER: 05014730)

Balance Sheet
31 December 2020

2020 2019
Notes £    £   
FIXED ASSETS
Tangible assets 5 23,885 27,529

CURRENT ASSETS
Stocks 6,508 8,061
Debtors 6 39,340 32,269
Cash at bank and in hand 154,695 117,582
200,543 157,912
CREDITORS
Amounts falling due within one year 7 (49,341 ) (41,445 )
NET CURRENT ASSETS 151,202 116,467
TOTAL ASSETS LESS CURRENT
LIABILITIES
175,087
143,996

CREDITORS
Amounts falling due after more than one
year
8
(58,869
)
(14,780
)

PROVISIONS FOR LIABILITIES (4,539 ) -
NET ASSETS 111,679 129,216

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 111,579 129,116
SHAREHOLDERS' FUNDS 111,679 129,216

The notes form part of these financial statements

Page 2 continued...
SEC SERVICES (UK) LIMITED (REGISTERED NUMBER: 05014730)

Balance Sheet - continued
31 December 2020


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

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.

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

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 21 September 2021 and were signed on its behalf by:





S. Cranfield - Director


The notes form part of these financial statements

Page 3
SEC SERVICES (UK) LIMITED (REGISTERED NUMBER: 05014730)

Notes to the Financial Statements
for the Year Ended 31 December 2020


1. STATUTORY INFORMATION

SEC Services (UK) 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on reducing balance

Government grants
Government grants have been recognised under the accruals model. Grants relating to revenue expenditure are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Page 4 continued...
SEC SERVICES (UK) LIMITED (REGISTERED NUMBER: 05014730)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020


3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 4 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2020 46,086
Additions 2,327
At 31 December 2020 48,413
DEPRECIATION
At 1 January 2020 18,557
Charge for year 5,971
At 31 December 2020 24,528
NET BOOK VALUE
At 31 December 2020 23,885
At 31 December 2019 27,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 36,187 26,251
Other debtors 3,153 6,018
39,340 32,269

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 694 -
Hire purchase contracts 5,216 5,216
Trade creditors 18,227 15,813
Taxation and social security 21,900 17,323
Other creditors 3,304 3,093
49,341 41,445

Page 5 continued...
SEC SERVICES (UK) LIMITED (REGISTERED NUMBER: 05014730)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2020 2019
£    £   
Bank loans 49,306 -
Hire purchase contracts 9,563 14,780
58,869 14,780

9. SECURED DEBTS

The following secured debts are included within creditors:

2020 2019
£    £   
Hire purchase contracts 14,779 19,996

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned.

Page 6