Trusted Security Group Limited - Period Ending 2022-04-30

Trusted Security Group Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Trusted Security Group Limited

Company Information

Directors

Mr J D Elson Mr B Lewis Mr A S Walker Mr A Lever Mr A J Greenway Mr R Sullivan

Company secretary

Mrs C L Elson

Registered office

12 Greenhead Road Huddersfield West Yorkshire HD1 4EN

Accountants

Walker & Sutcliffe Chartered Accountants 12 Greenhead Road Huddersfield West Yorkshire HD1 4EN

Trusted Security Group Limited

(Registration number: 07274865)
Balance Sheet as at 30 April 2022

	Note	2022 £	2021 £
Fixed assets
Investments	4	2,945,625	2,945,625
Creditors: Amounts falling due within one year	6	(1,941,238)	(1,941,238)
Net assets		1,004,387	1,004,387
Capital and reserves
Called up share capital		5,286	5,286
Share premium reserve		998,414	998,414
Retained earnings		687	687
Shareholders' funds		1,004,387	1,004,387

For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 20 January 2023 and signed on its behalf by:
 

......................................... Mr J D Elson Director

Trusted Security Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
12 Greenhead Road
Huddersfield
West Yorkshire
HD1 4EN
United Kingdom

The principal place of business is:
Brockholes Business Park
Rock Mill Road
Brockholes
Huddersfield
West Yorkshire
HD9 7BN
United Kingdom

These financial statements were authorised for issue by the Board on 20 January 2023.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is £ sterling.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Trusted Security Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Trusted Security Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2021 - 6).

4	Investments

	2022 £	2021 £
Investments in subsidiaries	2,945,625	2,945,625

Subsidiaries	£
Cost or valuation
At 1 May 2021	2,945,625
Provision
Carrying amount
At 30 April 2022	2,945,625
At 30 April 2021	2,945,625

Trusted Security Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2022	2021
Subsidiary undertakings
Burton Safes Limited	England and Wales	Ordinary	100%	100%
Burton Safes Services Limited	England and Wales	Ordinary	100%	100%
Keyguard Security Limited	England and Wales	Ordinary	100%	100%
Safe & Vault Company Limited	Endland & Wales	Ordinary	100%	100%

Subsidiary undertakings

Burton Safes Limited The principal activity of Burton Safes Limited is Distributors of safes.

Burton Safes Services Limited The principal activity of Burton Safes Services Limited is Dormant company.

Keyguard Security Limited The principal activity of Keyguard Security Limited is Dormant Company.

Safe & Vault Company Limited The principal activity of Safe & Vault Company Limited is is that of security systems and service activities..

Trusted Security Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

5

Debtors

Current

2022 £

2021 £

6

Creditors

Creditors: amounts falling due within one year

	Note	2022 £	2021 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	7	1,911,879	1,869,500
Other creditors		29,359	71,738
		1,941,238	1,941,238

Trusted Security Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

7	Related party transactions

Keyguard Security Limited
(The company's subsidiary undertaking)
At the balance sheet date the amount due to Keyguard Security Limited was £500 (2021: £500).

Summary of transactions with all subsidiaries

Burton Safes Limited
 The company's subsidiary undertaking
 During the year the company received loans from Burton Safes Limited of £192,379 (2021: £346,000) and repaid £150,000 (2021: £142,500). At the balance sheet date the amount due to Burton Safes Limited was £911,379 (2021: £868,999).
 
Safe & Vault Company Limited
The company's subsidiary undertaking
During the year the company received loans from Safe & Vault Company Limited of 2022; £170,000 (2021:£165,717) and repaid 2022: £170,000 (2021; £161,467). At the balance sheet date the amount due to Safe & Vault Company Limited was £1,000,000 (2021; £1,000,000)