SAS Security Products Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02701887

Unaudited Financial Statements for the Year Ended 31 July 2018

for

SAS Security Products Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Curtis

Mrs M Curtis

REGISTERED OFFICE:

Chestnut House

Chesley HIll

Bristol

BS30 5NE

REGISTERED NUMBER:

02701887

ACCOUNTANTS:

Norton Tax Shops Limited

3 & 5 Station Road

Keynsham

Bristol

BS31 2BH

FIXED ASSETS

Intangible assets

4

186

217

CURRENT ASSETS

Stocks

98,162

85,308

Debtors

111,251

373,460

Cash at bank and in hand

344

5,121

209,757

463,889

CREDITORS

Amounts falling due within one year

41,011

31,822

NET CURRENT ASSETS

168,746

432,067

TOTAL ASSETS LESS CURRENT LIABILITIES

168,932

432,284

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

168,930

432,282

SHAREHOLDERS' FUNDS

168,932

432,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 October 2018 and were signed on its behalf by:

Mr M Curtis - Director

Mrs M Curtis - Director

1.	STATUTORY INFORMATION

SAS Security Products Ltd is a private company, limited by shares , registered in Not specified/Other. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 August 2017

and 31 July 2018

23,540

AMORTISATION

At 1 August 2017

23,323

Amortisation for year

31

At 31 July 2018

23,354

NET BOOK VALUE

At 31 July 2018

186

At 31 July 2017

217

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2018 and 31 July 2017:

31.7.18

31.7.17

£

£

Mr M Curtis and Mrs M Curtis

Balance outstanding at start of year

-

-

Amounts repaid

(11,183

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(11,183

)

-

6.	RELATED PARTY DISCLOSURES

During the year, the company paid £11,250 (2017: £11,250) to the directors' pension scheme with regards to rent.

The company incurred bad debts during the year totalling £356,213 from a company under common control.

At the year end the company was due £47,656 (2017: £270,711) from a company under common control.