Double Check Security Group Ltd Filleted accounts for Companies House (small and micro)

Double Check Security Group Ltd Filleted accounts for Companies House (small and micro)

DOUBLE CHECK SECURITY GROUP LTD - Company Information

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55 false false false false false false false false false true false false false false false false No description of principal activity 2021-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 52,287 13,830 66,117 19,959 5,650 25,609 40,508 71,542 6,550 16,248 22,798 48,744 64,992 xbrli:pure xbrli:shares iso4217:GBP 08338579 2021-07-01 2022-06-30 08338579 2022-06-30 08338579 2021-06-30 08338579 2020-07-01 2021-06-30 08338579 2021-06-30 08338579 core:NetGoodwill 2021-07-01 2022-06-30 08338579 bus:Director1 2021-07-01 2022-06-30 08338579 core:WithinOneYear 2022-06-30 08338579 core:WithinOneYear 2021-06-30 08338579 core:NetGoodwill 2021-06-30 08338579 core:NetGoodwill 2022-06-30 08338579 core:PlantMachinery 2021-06-30 08338579 core:PlantMachinery 2022-06-30 08338579 core:AfterOneYear 2022-06-30 08338579 core:AfterOneYear 2021-06-30 08338579 core:ShareCapital 2022-06-30 08338579 core:ShareCapital 2021-06-30 08338579 core:RetainedEarningsAccumulatedLosses 2022-06-30 08338579 core:RetainedEarningsAccumulatedLosses 2021-06-30 08338579 core:PlantMachinery 2021-07-01 2022-06-30 08338579 core:NetGoodwill 2021-06-30 08338579 core:PlantMachinery 2021-06-30 08338579 bus:SmallEntities 2021-07-01 2022-06-30 08338579 bus:AuditExemptWithAccountantsReport 2021-07-01 2022-06-30 08338579 bus:FullAccounts 2021-07-01 2022-06-30 08338579 bus:SmallCompaniesRegimeForAccounts 2021-07-01 2022-06-30 08338579 bus:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30
COMPANY REGISTRATION NUMBER: 08338579
Double Check Security Group Ltd
Filleted Unaudited Financial Statements
30 June 2022
Double Check Security Group Ltd
Financial Statements
Year ended 30 June 2022
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Double Check Security Group Ltd
Statement of Financial Position
30 June 2022
2022
2021
Note
£
£
£
£
Fixed assets
Intangible assets
5
40,508
32,329
Tangible assets
6
48,744
64,992
--------
--------
89,252
97,321
Current assets
Debtors
7
802,175
427,065
Cash at bank and in hand
5,031
44,192
----------
----------
807,206
471,257
Creditors: amounts falling due within one year
8
586,572
368,744
----------
----------
Net current assets
220,634
102,513
----------
----------
Total assets less current liabilities
309,886
199,834
Creditors: amounts falling due after more than one year
9
30,000
43,383
Provisions
8,297
12,348
----------
----------
Net assets
271,589
144,103
----------
----------
Capital and reserves
Called up share capital
100
100
Profit and loss account
271,489
144,003
----------
----------
Shareholders funds
271,589
144,103
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Double Check Security Group Ltd
Statement of Financial Position (continued)
30 June 2022
These financial statements were approved by the board of directors and authorised for issue on 27 July 2023 , and are signed on behalf of the board by:
Mr A Bannon
Director
Company registration number: 08338579
Double Check Security Group Ltd
Notes to the Financial Statements
Year ended 30 June 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Printing House, 66 Lower Road, Harrow, HA2 0DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
6 - 10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% Reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 55 (2021: 44 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2021
52,287
Additions
13,830
--------
At 30 June 2022
66,117
--------
Amortisation
At 1 July 2021
19,959
Charge for the year
5,650
--------
At 30 June 2022
25,609
--------
Carrying amount
At 30 June 2022
40,508
--------
At 30 June 2021
32,328
--------
6. Tangible assets
Plant and machinery
£
Cost
At 1 July 2021 and 30 June 2022
71,542
--------
Depreciation
At 1 July 2021
6,550
Charge for the year
16,248
--------
At 30 June 2022
22,798
--------
Carrying amount
At 30 June 2022
48,744
--------
At 30 June 2021
64,992
--------
7. Debtors
2022
2021
£
£
Trade debtors
691,001
329,408
Amounts owed by group undertakings and undertakings in which the company has a participating interest
–
60,000
Other debtors
111,174
37,657
----------
----------
802,175
427,065
----------
----------
8. Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
10,000
6,604
Trade creditors
107,046
88,311
Amounts owed to undertakings in which the company has a participating interest
–
44,796
Accruals and deferred income
22,333
6,506
Corporation tax
56,233
18,222
Social security and other taxes
162,593
123,359
Director loan accounts
31,355
7,810
Other creditors
197,012
73,136
----------
----------
586,572
368,744
----------
----------
Within other creditors, £196,882 (2021 - £68,298) is secured by way of a fixed and floating charge over all the assets of the company.
The bank loans and overdrafts include a Bounce Back loan which is secured by a government guarantee
9. Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
30,000
43,383
--------
--------
The bank loans and overdrafts include a Bounce Back loan which is secured by a government guarantee