Security Solutions (Northern) Limited - Period Ending 2016-08-31

Registration number: 04851801

Security Solutions (Northern) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

HML Davies Limited
Chartered Certified Accountants
9 Riverside
Waters Meeting Road
Bolton
BL1 8TU

Security Solutions (Northern) Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Security Solutions (Northern) Limited
(Registration number: 04851801)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			78,233			89,942
Current assets
Stocks					218,526			176,301
Debtors					693,267			1,216,656
Cash at bank and in hand					113,021			82,724
					1,024,814			1,475,681
Creditors: Amounts falling due within one year					(669,061)			(1,132,541)
Net current assets					355,753			343,140
Total assets less current liabilities					433,986			433,082
Creditors: Amounts falling due after more than one year					(19,549)			(29,108)
Net assets					414,437			403,974
Capital and reserves
Called up share capital		4			80			80
Profit and loss account					414,357			403,894
Shareholders' funds					414,437			403,974

For the year ending 31 August 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 9 March 2017

.........................................
Mr A Davies
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Security Solutions (Northern) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Asset class	Amortisation method and rate
Goodwill	3 years straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	15% Straight Line
Office equipment	15% Straight Line
Motor vehicles	33% Straight Line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation 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. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

Security Solutions (Northern) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 September 2015		11,500			283,574			295,074
Additions		-			34,478			34,478
Disposals		-			(25,748)			(25,748)
At 31 August 2016		11,500			292,304			303,804
Depreciation
At 1 September 2015		11,500			193,632			205,132
Charge for the year		-			46,187			46,187
Eliminated on disposals		-			(25,748)			(25,748)
At 31 August 2016		11,500			214,071			225,571
Net book value
At 31 August 2016		-			78,233			78,233
At 31 August 2015		-			89,942			89,942

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		35,033			191,796
Amounts falling due after more than one year		19,549			29,108
Total secured creditors		54,582			220,904

Page 3

Security Solutions (Northern) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		80			80			80			80

Page 4