GDC Security Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09347284 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2018

for

GDC Security Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Robey

REGISTERED OFFICE:

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

REGISTERED NUMBER:

09347284 (England and Wales)

ACCOUNTANTS:

Bristow Burrell

4 Riverview

Walnut Tree Close

Guildford

Surrey

GU1 4UX

FIXED ASSETS

Tangible assets

4

16,992

45,865

CURRENT ASSETS

Stocks

39,289

24,564

Debtors

5

55,346

106,904

Cash at bank

18,271

2,940

112,906

134,408

CREDITORS

Amounts falling due within one year

6

115,450

156,880

NET CURRENT LIABILITIES

(2,544

)

(22,472

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,448

23,393

CREDITORS

Amounts falling due after more than one year

7

9,285

16,296

NET ASSETS

5,163

7,097

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

5,063

6,997

SHAREHOLDERS' FUNDS

5,163

7,097

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 24 September 2019 and were signed by:

J Robey - Director

1.	STATUTORY INFORMATION

GDC Security 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase,

transport, and handling costs in bringing stocks to their present location and

condition.

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

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2018

1,198

2,501

67,428

7,324

78,451

Additions

-

-

1,000

-

1,000

Disposals

-

-

(38,550

)

-

(38,550

)

At 31 December 2018

1,198

2,501

29,878

7,324

40,901

DEPRECIATION

At 1 January 2018

599

1,582

26,938

3,467

32,586

Charge for year

300

625

9,722

1,947

12,594

Eliminated on disposal

-

-

(21,271

)

-

(21,271

)

At 31 December 2018

899

2,207

15,389

5,414

23,909

NET BOOK VALUE

At 31 December 2018

299

294

14,489

1,910

16,992

At 31 December 2017

599

919

40,490

3,857

45,865

Fixed assets, included in the above, which are held under hire purchase contracts

are as follows:

Motor

vehicles

£

COST

At 1 January 2018

and 31 December 2018

25,128

DEPRECIATION

At 1 January 2018

8,147

Charge for year

4,245

At 31 December 2018

12,392

NET BOOK VALUE

At 31 December 2018

12,736

At 31 December 2017

16,981

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

39,997

103,269

Other debtors

15,349

3,635

55,346

106,904

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Hire purchase contracts

5,046

8,676

Trade creditors

65,139

95,740

Taxation and social security

5,813

10,690

Other creditors

39,452

41,774

115,450

156,880

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

9,285

16,296

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J Robey by virtue of his 100% interest in the

ordinary share capital of the company.