4i Security Limited - Period Ending 2014-01-31

Registration number: 06322456

4i Security Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2014
 

4i Security Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 6

4i Security Limited
(Registration number: 06322456)
Abbreviated Balance Sheet at 31 January 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					143,262			402,064
Tangible fixed assets					12,970			24,081
					156,232			426,145
Current assets
Stocks					45,328			34,014
Debtors					123,121			134,357
Cash at bank and in hand					(57)			-
					168,392			168,371
Creditors: Amounts falling due within one year					(329,240)			(498,377)
Net current liabilities					(160,848)			(330,006)
Total assets less current liabilities					(4,616)			96,139
Creditors: Amounts falling due after more than one year					(295,000)			(295,000)
Net liabilities					(299,616)			(198,861)
Capital and reserves
Called up share capital		4			95,000			95,000
Share premium account					105,100			105,100
Profit and loss account					(499,716)			(398,961)
Shareholders' deficit					(299,616)			(198,861)

For the year ending 31 January 2014 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 6 October 2014

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 1

4i Security Limited
(Registration number: 06322456)
Abbreviated Balance Sheet at 31 January 2014
......... continued

.........................................
Mr Matthew Brough
Director

The notes on pages 3 to 6 form an integral part of these financial statements.
Page 2

4i Security Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... 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 April 2008).

Going concern

The Directors consider that it is appropriate to prepare the accounts on a foing concern basis as, based on an assessment of current trading conditions, the company is expected to be able to continue to meet its liabilities as they fall due.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Amortisation

Intangible fixed assets are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of an asset might not be fully recoverable.

Asset class	Amortisation method and rate
Patents & licences	20% straight line
Development costs	20% straight line

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful economic life:

Asset class	Depreciation method and rate
Office equipment	20% straight line
Computer equipment	33% straight line
Motor vehicle	25% straight line

Research and development

Development costs are charged to the profit and loss account in the year of expenditure, unless individual projects satisfy the following criteria: - the project is clearly defined and related expenditure is seperately identifiable, - the project is technically feasible and commercially viable, - current and future costs are expected to be exceeded by future sales and - adequate resources exist for the project to be completed. In such circumstances, the costs are carried forward and amortised over a period not exceeding five years commencing in the year in which the company begins to benefit from the expenditure.

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Page 3

4i Security Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

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.

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.

Page 4

4i Security Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 February 2013		510,677			49,837			560,514
Additions		-			880			880
Disposals		(200,000)			-			(200,000)
At 31 January 2014		310,677			50,717			361,394
Depreciation
At 1 February 2013		108,613			25,756			134,369
Charge for the year		62,135			11,991			74,126
Eliminated on disposals		(3,333)			-			(3,333)
At 31 January 2014		167,415			37,747			205,162
Net book value
At 31 January 2014		143,262			12,970			156,232
At 31 January 2013		402,064			24,081			426,145

3

Creditors

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

		2014 £			2013 £
Amounts falling due within one year		8,228			11,242

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		58,000			58,000			58,000			58,000
Ordinary "A" of £1 each		37,000			37,000			37,000			37,000
7% cumulative preference shares of £1 each		295,000			295,000			295,000			295,000
		390,000			390,000			390,000			390,000

Page 5

4i Security Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

5

Control

The company is controlled by . The ultimate controlling party is not known.

Page 6