Eastern Security Services Ltd - Period Ending 2014-07-31

Registration number: 05235529

Eastern Security Services Ltd

Unaudited Abbreviated Accounts

for the Period from 1 April 2013 to 31 July 2014

 

AIMS Accountants for Business
Mark Ellis FCA
1 Ramsay Court
Kingfisher Way
Huntingdon
Cambridgeshire
PE29 6FY

Eastern Security Services Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Eastern Security Services Ltd
(Registration number: 05235529)
Abbreviated Balance Sheet at 31 July 2014

		Note			31 July 2014 £			31 March 2013 £
Fixed assets
Intangible fixed assets					930			8,373
Tangible fixed assets					24,704			35,365
					25,634			43,738
Current assets
Stocks					6,000			2,500
Debtors					46,772			118,732
Cash at bank and in hand					174			2,625
					52,946			123,857
Creditors: Amounts falling due within one year					(70,395)			(135,101)
Net current liabilities					(17,449)			(11,244)
Total assets less current liabilities					8,185			32,494
Creditors: Amounts falling due after more than one year					(1,115)			(14,088)
Provisions for liabilities					(3,184)			(4,794)
Net assets					3,886			13,612
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					3,786			13,512
Shareholders' funds					3,886			13,612

For the year ending 31 July 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 .

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Eastern Security Services Ltd
(Registration number: 05235529)
Abbreviated Balance Sheet at 31 July 2014
......... continued

Approved by the director on 5 December 2014

.........................................
Mr A Khan
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Eastern Security Services Ltd
Notes to the Abbreviated Accounts for the Period from 1 April 2013 to 31 July 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).

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

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

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
Vehicles	25% reducing balance basis
Fixtures and fittings	10% reducing balance basis
Office equipment	10% reducing balance basis

Stock and work in progress

Stock and work in progress are 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 3

Eastern Security Services Ltd
Notes to the Abbreviated Accounts for the Period from 1 April 2013 to 31 July 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.

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.

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.

Page 4

Eastern Security Services Ltd
Notes to the Abbreviated Accounts for the Period from 1 April 2013 to 31 July 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2013		55,820			57,601			113,421
Additions					1,092			1,092
At 31 July 2014		55,820			58,693			114,513
Depreciation
At 1 April 2013		47,447			22,236			69,683
Charge for the period		7,443			11,753			19,196
At 31 July 2014		54,890			33,989			88,879
Net book value
At 31 July 2014		930			24,704			25,634
At 31 March 2013		8,373			35,365			43,738

3	Share capital

Allotted, called up and fully paid shares

	31 July 2014						31 March 2013
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 5