Specialised Security Systems Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01661114 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Specialised Security Systems Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A A Carmichael

Mrs A P Carmichael

Mrs A C Carmichael

J A Carmichael

SECRETARY:

Mrs A C Carmichael

REGISTERED OFFICE:

Carmichael House

The Green

Inkberrow

Worcestershire

WR7 4DZ

REGISTERED NUMBER:

01661114 (England and Wales)

ACCOUNTANTS:

Derek Young & Co Accountants LLP

Chartered Accountants

Estate House

Evesham Street

Redditch

Worcestershire

B97 4HP

FIXED ASSETS

Intangible assets

4

87,095

99,095

Tangible assets

5

97,240

111,324

184,335

210,419

CURRENT ASSETS

Stocks

93,998

50,704

Debtors

201,195

181,574

Cash at bank and in hand

51,193

31,882

346,386

264,160

CREDITORS

Amounts falling due within one year

309,388

267,024

NET CURRENT ASSETS/(LIABILITIES)

36,998

(2,864

)

TOTAL ASSETS LESS CURRENT LIABILITIES

221,333

207,555

CREDITORS

Amounts falling due after more than one year

96,949

114,949

NET ASSETS

124,384

92,606

CAPITAL AND RESERVES

Called up share capital

6

25,000

25,000

Retained earnings

99,384

67,606

SHAREHOLDERS' FUNDS

124,384

92,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 9 February 2018 and were signed on its behalf by:

J A Carmichael - Director

1.	STATUTORY INFORMATION

Specialised Security Systems 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 represents amounts derived from the provision of goods and services falling within the company's

ordinary activities, after deduction of trade discounts, value added tax and any other tax based on the amounts so

derived.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a contract base in 2013, is being amortised

evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Equipment

-

33% on cost

Stocks

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

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

and 31 May 2017

135,095

AMORTISATION

At 1 June 2016

36,000

Amortisation for year

12,000

At 31 May 2017

48,000

NET BOOK VALUE

At 31 May 2017

87,095

At 31 May 2016

99,095

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

191,717

Additions

24,112

Disposals

(6,750

)

At 31 May 2017

209,079

DEPRECIATION

At 1 June 2016

80,393

Charge for year

35,348

Eliminated on disposal

(3,902

)

At 31 May 2017

111,839

NET BOOK VALUE

At 31 May 2017

97,240

At 31 May 2016

111,324

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

25,000

Ordinary shares

£1

25,000

25,000

7.	ULTIMATE CONTROLLING PARTY