Principle Secure Limited - Accounts to registrar (filleted) - small 18.1
Principle Secure Limited - Accounts to registrar (filleted) - small 18.1
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st December 2017 |
for |
Principle Secure Limited |
Principle Secure Limited (Registered number: 02704451) |
Contents of the Financial Statements |
for the Year Ended 31st December 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Principle Secure Limited |
Company Information |
for the Year Ended 31st December 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Principle Secure Limited (Registered number: 02704451) |
Balance Sheet |
31st December 2017 |
31.12.17 | 31.12.16 |
Notes | £ | £ |
CURRENT ASSETS |
Cash in hand |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
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 |
Principle Secure Limited (Registered number: 02704451) |
Notes to the Financial Statements |
for the Year Ended 31st December 2017 |
1. | STATUTORY INFORMATION |
Principle Secure Limited is a |
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 Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company was dormant throughout the current year and previous year. |
3. | SECURED DEBTS |
The UK group companies' bank facilities are secured by a debenture in favour of Lloyds Bank plc dated 20th |
December 2016 over the whole of the undertakings, property and assets of the group together with an |
intercompany guarantee between Principle Link (UK) Limited, Principle Fabrications Limited, Principle Systems |
Limited, Principle Graphics Limited, Principle Europe Limited, Principle 360 Limited, Principle Secure Limited, |
Principle Contract Limited, Principle Spira Limited, Principle Holdings Limited, Principle Global Limited and |
Principle Brand Implementation Limited supported by Principle USA Inc, Principle Mexico SA de CV and |
Principle Italy S.P.A under an inter-creditor agreement dated 20th December 2016 and amendment letter dated |
22nd June 2017. The combined UK group companies' indebtedness at 31st December 2017 amounted to |
£600,000 (2016 - £900,000). |
The company has guaranteed investor loans in Principle Global Limited from Pricoa Capital Group of |
£34,000,000 (2016 - £30,000,000) and shareholder loans of £22,282,429 (2016: £16,782,429) under an |
inter-creditor agreement dated 20th December 2016 and amendment letter dated 22nd June 2017. |
4. | ULTIMATE PARENT COMPANY |
Principle Global Limited is regarded by the director as the company's ultimate controlling company. |