| REGISTERED NUMBER: |
| SECURASEAL LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| REGISTERED NUMBER: |
| SECURASEAL LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| SECURASEAL LIMITED (REGISTERED NUMBER: 08642350) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Chartered Accountants' Report | 7 |
| SECURASEAL LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 24 Park Road South |
| Havant |
| Hampshire |
| PO9 1HB |
| SECURASEAL LIMITED (REGISTERED NUMBER: 08642350) |
| BALANCE SHEET |
| 31 MAY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| 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 on by: |
| SECURASEAL LIMITED (REGISTERED NUMBER: 08642350) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 1. | STATUTORY INFORMATION |
| Securaseal Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The accounts are rounded to the nearest pound. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| The preparation of financial statements requires the use of estimates and assumptions that affect reported |
| amounts of assets and liabilities at the date of the financial statements, and revenue and expenses during the |
| reporting period. These estimates and assumptions are based on managements best knowledge of the amount, |
| event or actions. Actual results may differ from those amounts. |
| Management do not consider there to be any significant judgements or estimates used in the preparation of |
| these financial statements. |
| Turnover |
| Turnover represents the value of goods and services supplied, excluding value added tax. It is recognized at |
| point of despatch to the customer. |
| Tangible fixed assets |
| Plant and machinery | - |
| Computer equipment | - |
| Financial instruments |
| Financial instruments are recognised in line with sections 11 and 12 of FRS 102. |
| Basic financial instruments, such as bank and cash, loans, amounts due to/from group undertakings, trade |
| receivables and payables are initially recognised at transaction price, unless they constitute a financing |
| arrangement, when the transaction is measured at present value of the future receipts/payments discounted at a |
| market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest |
| rate method. |
| 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. |
| SECURASEAL LIMITED (REGISTERED NUMBER: 08642350) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 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. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
| held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
| leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| Pension costs and other post-retirement benefits |
| The company makes contributions to two of the Director's personal pension schemes. Contributions payable are |
| charged to the profit and loss account in the period to which they relate. |
| 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 June 2016 |
| and 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| Charge for year |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| Included within the net book value of £98,692 are assets held under hire purchase totalling £69,932 (2016: |
| £98,804). Depreciation of £28,973 (2016: £43,549) has been charged on these assets during the period. |
| SECURASEAL LIMITED (REGISTERED NUMBER: 08642350) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts |
| Payments on account |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Hire purchase contracts | 72,941 | 100,294 |
| Obligations under hire purchase agreements are secured upon the assets to which they relate. |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted and issued: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary Class A Shares | £1 | 60 | 60 |
| Ordinary Class B Shares | £1 | 20 | 20 |
| Ordinary Class C Shares | £1 | 20 | 20 |
| 100 | 100 |
| 10. | RELATED PARTY DISCLOSURES |
| SECURASEAL LIMITED (REGISTERED NUMBER: 08642350) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 10. | RELATED PARTY DISCLOSURES - continued |
| Gardiner Graphics Group Limited |
| Gardiner Graphics Group Limited, as a condition of providing funding and credit facilities to the company from |
| time to time, has a fixed and floating charge over certain assets of the company. |
| 2017 | 2016 |
| £ | £ |
| Amount due (to)/from related party at the balance sheet date | (2,043 | ) | 326,025 |
| 11. | COMPARATIVES |
| The comparative column is for a period of eighteen months to bring the year end in line with the other group |
| companies. |
| 12. | CHARGES |
| At the year end there were three charges in existence as follows: |
| National Westminster Bank PLC - fixed and floating charge over assets. |
| RBS Invoice Finance Limited - fixed and floating charge over assets of the company. |
| Gardiner Graphics Group Limited - fixed and floating charge over the assets of the company. |
| 13. | FIRST YEAR ADOPTION |
| the company has adopted FRS 102 1A for the year ended 2017. There are no re-statements required under the |
| new standard for earlier periods which were prepared under the FRSSE 2015 standard. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| SECURASEAL LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
| a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and |
| the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Securaseal Limited for the year ended 31 May 2017 which comprise the Income Statement, |
| Balance Sheet, and the related notes from the company's accounting records and from information and explanations |
| you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Securaseal Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Securaseal Limited and state those matters that we have agreed to state to the Board of Directors of Securaseal Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Securaseal Limited Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Securaseal Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Securaseal Limited. You consider that Securaseal Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Securaseal Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Chartered Accountants |
| 24 Park Road South |
| Havant |
| Hampshire |
| PO9 1HB |