GEM Security Services Limited - Accounts to registrar - small 16.1.1

GEM Security Services Limited

Financial Statements for the Year Ended 31 March 2016

DIRECTORS:

S A Moon

A Williams

REGISTERED OFFICE:

Penbwch Isaf Farm

Penycoedcae Road

Penycoedcae

Pontypridd

CF37 1PU

REGISTERED NUMBER:

02464502 (England and Wales)

ACCOUNTANTS:

BPU Limited

Chartered Accountants

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

The following reproduces the text of the report prepared for the directors and members in respect of

the company's annual unaudited financial statements. In accordance with the Companies Act 2006,

the company is only required to file a Balance Sheet. Readers are cautioned that the Income

Statement and certain other primary statements and the Report of the Directors are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your

approval the financial statements of GEM Security Services Limited for the year ended 31 March 2016

which comprise the Profit and Loss, Balance Sheet and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of GEM Security Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of GEM Security Services Limited and state those matters that we have agreed to state to the Board of Directors of GEM Security Services Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that GEM Security Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of GEM Security Services Limited. You consider that GEM Security Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of GEM Security Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BPU Limited

Chartered Accountants

3 August 2016

FIXED ASSETS

Tangible assets

3

25,380

87,458

CURRENT ASSETS

Stocks

5,352

5,974

Debtors: amounts falling due within one year

4

290,963

219,650

Debtors: amounts falling due after more than one year

4

120,000

180,000

Cash at bank and in hand

132,656

80,589

548,971

486,213

CREDITORS

Amounts falling due within one year

5

120,170

127,057

NET CURRENT ASSETS

428,801

359,156

TOTAL ASSETS LESS CURRENT LIABILITIES

454,181

446,614

CREDITORS

Amounts falling due after more than one year

6

(10,594

)

(14,603

)

DEFERRED INCOME

(199,834

)

(180,234

)

NET ASSETS

243,753

251,777

CAPITAL AND RESERVES

Called up share capital

75,000

75,000

Share premium

8

7,340

7,340

Retained earnings

8

161,413

169,437

SHAREHOLDERS' FUNDS

243,753

251,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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.

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 1 August 2016 and were signed on its behalf by:

S A Moon - Director

1.	STATUTORY INFORMATION

GEM Security Services 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Freehold property

-

2% straight line

Fixtures and fittings

-

15% straight line

Motor vehicles

-

25% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

Full provision is made for deferred taxation resulting from material timing differences between the

recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred

taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the

periods when the timing differences will reverse.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all

the risks and rewards of ownership of the asset have passed to the company, are capitalised in the

balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period

of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease

term.

Pension costs

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.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2015

65,000

65,570

77,301

207,871

Additions

-

379

-

379

Disposals

(65,000

)

(53,388

)

(53,297

)

(171,685

)

At 31 March 2016

-

12,561

24,004

36,565

DEPRECIATION

At 1 April 2015

23,290

52,982

44,141

120,413

Charge for year

108

2,284

8,746

11,138

Eliminated on disposal

(23,398

)

(52,581

)

(44,387

)

(120,366

)

At 31 March 2016

-

2,685

8,500

11,185

NET BOOK VALUE

At 31 March 2016

-

9,876

15,504

25,380

At 31 March 2015

41,710

12,588

33,160

87,458

4.

DEBTORS

2016

2015

£

£

Amounts falling due within one year:

Trade debtors

228,646

157,879

Amounts owed by group undertakings

60,000

60,000

Other debtors & prepayments

2,317

1,771

290,963

219,650

2016

2015

£

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

120,000

180,000

Aggregate amounts

410,963

399,650

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Hire purchase contracts (see note 7)

4,258

3,780

Trade creditors

42,192

40,544

Corporation tax

23,839

30,778

Social security and other taxes

12,660

11,670

VAT

22,254

28,518

Accruals

14,967

11,767

120,170

127,057

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts (see note 7)

10,594

14,603

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2016

2015

£

£

Net obligations repayable:

Within one year

4,258

3,780

Between one and five years

10,594

14,603

14,852

18,383

Non-cancellable

operating leases

2016

2015

£

£

Between one and five years

50,674

-

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2015

169,437

7,340

176,777

Profit for the year

131,260

-

131,260

Dividends

(139,284

)

-

(139,284

)

At 31 March 2016

161,413

7,340

168,753