Repro Security Ltd - Accounts to registrar (filleted) - small 18.2

Repro Security Ltd - Accounts to registrar (filleted) - small 18.2

REPRO SECURITY LTD - Company Information

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REGISTERED NUMBER: 06405851 (England and Wales)















Financial Statements for the Year Ended 31 December 2020

for

Repro Security Ltd
Repro Security Ltd (Registered number: 06405851)

Contents of the Financial Statements
for the Year Ended 31 December 2020










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Repro Security Ltd (Registered number: 06405851)

Abridged Balance Sheet
31 December 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,105 3,144

CURRENT ASSETS
Debtors 50,852 48,655
Cash at bank and in hand 28,648 15,411
79,500 64,066
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
40,540
65,925
NET CURRENT ASSETS/(LIABILITIES) 38,960 (1,859 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
53,065
1,285

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR
(50,000
)
-

PROVISIONS FOR LIABILITIES (2,717 ) (618 )
NET ASSETS 348 667

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 346 665
SHAREHOLDERS' FUNDS 348 667

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 notes form part of these financial statements

Page 1
Repro Security Ltd (Registered number: 06405851)

Abridged Balance Sheet - continued
31 December 2020


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 December 2020 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 23 June 2021 and were signed on its behalf by:




Mr D J Parker - Director



Mrs S J Parker - Director


The notes form part of these financial statements

Page 2
Repro Security Ltd (Registered number: 06405851)

Notes to the Financial Statements
for the Year Ended 31 December 2020


1. STATUTORY INFORMATION

Repro Security Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06405851

Registered office: 36 Simborough Way
Market Harborough
Leicestershire
LE16 7XS

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007 has been fully amortised over the expected useful life of 5 years.

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.

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 etc - 25% on reducing balance, 25% on cost, 20% on reducing balance and 15% on reducing balance

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.


Page 3
Repro Security Ltd (Registered number: 06405851)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020


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.

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.

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 (2019 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2020 26,365
Additions 15,802
Disposals (3,500 )
At 31 December 2020 38,667
DEPRECIATION
At 1 January 2020 23,221
Charge for year 4,756
Eliminated on disposal (3,415 )
At 31 December 2020 24,562
NET BOOK VALUE
At 31 December 2020 14,105
At 31 December 2019 3,144

Page 4
Repro Security Ltd (Registered number: 06405851)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Totals
£   
COST
At 1 January 2020
and 31 December 2020 12,238
DEPRECIATION
At 1 January 2020 7,049
Charge for year 544
At 31 December 2020 7,593
NET BOOK VALUE
At 31 December 2020 4,645
At 31 December 2019 5,189

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2020 and 31 December 2019:

2020 2019
£    £   
Mr D J Parker and Mrs S J Parker
Balance outstanding at start of year - -
Amounts advanced 2,416 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,416 -

Page 5