1st Stop Security Products Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04100265 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2021

for

1st Stop Security Products Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S Matthews

Mr S Cross

SECRETARY:

GR Taylor Accountants Ltd

REGISTERED OFFICE:

Hertford House

Parr Industrial Estate

Hertford Street

ST HELENS

Merseyside

WA9 1BF

REGISTERED NUMBER:

04100265 (England and Wales)

ACCOUNTANTS:

GR Taylor & Co Accountants

54-56 Ormskirk Street

ST HELENS

Merseyside

WA10 2TF

FIXED ASSETS

Tangible assets

4

8,521

6,121

CURRENT ASSETS

Stocks and WIP

23,664

10,200

Debtors

70,214

199,590

Cash at bank

55,508

86,336

149,386

296,126

CREDITORS

Amounts falling due within one year

124,338

251,432

NET CURRENT ASSETS

25,048

44,694

TOTAL ASSETS LESS CURRENT LIABILITIES

33,569

50,815

CREDITORS

Amounts falling due after more than one year

-

500

NET ASSETS

33,569

50,315

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

33,567

50,313

SHAREHOLDERS' FUNDS

33,569

50,315

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2021 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 and authorised for issue on 28 July 2022 and were signed on its behalf by:

Mr S Matthews - Director

1.	STATUTORY INFORMATION

1st Stop Security Products Ltd 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.

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 and wip 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

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 5 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2020

34,697

Additions

16,063

Disposals

(30,975

)

At 31 October 2021

19,785

DEPRECIATION

At 1 November 2020

28,576

Charge for year

2,765

Eliminated on disposal

(20,077

)

At 31 October 2021

11,264

NET BOOK VALUE

At 31 October 2021

8,521

At 31 October 2020

6,121