Computerised and Digital Security - Accounts to registrar (filleted) - small 17.3

Computerised and Digital Security

Systems Limited

Financial Statements for the Year Ended 31 January 2018

DIRECTORS:

G D Britton

S A Moon

A Williams

SECRETARY:

N Moon

REGISTERED OFFICE:

Penbwch Isaf Farm

Penycoedcae Road

Pontypridd

CF37 1PU

REGISTERED NUMBER:

02332983 (England and Wales)

ACCOUNTANTS:

BPU Limited

Chartered Accountants

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

BANKERS:

Barclays Bank plc

Cardiff and The Vale Group of Branches

PO Box No 674

121 Queen Street

Cardiff

CF10 2XU

The following reproduces the text of the report prepared for the directors 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

Profit & Loss Account 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 Computerised and Digital Security Systems Limited for

the year ended 31 January 2018 which comprise the Profit and Loss Account, 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Computerised and Digital Security Systems 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 Computerised and Digital Security Systems Limited and state those matters that we have agreed to state to the Board of Directors of Computerised and Digital Security Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Computerised and Digital Security Systems Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Computerised and Digital Security Systems 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 Computerised and Digital Security Systems Limited. You consider that Computerised and Digital Security Systems 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 Computerised and Digital Security Systems 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

26 April 2018

FIXED ASSETS

Tangible assets

3

726,465

733,478

Investments

4

684,041

684,041

1,410,506

1,417,519

CURRENT ASSETS

Stocks

93,386

111,056

Debtors

5

994,866

912,694

Cash at bank

4,078

66

1,092,330

1,023,816

CREDITORS

Amounts falling due within one year

6

947,301

873,992

NET CURRENT ASSETS

145,029

149,824

TOTAL ASSETS LESS CURRENT LIABILITIES

1,555,535

1,567,343

CREDITORS

Amounts falling due after more than one year

7

(378,646

)

(520,341

)

PROVISIONS FOR LIABILITIES

(1,800

)

(8,900

)

DEFERRED INCOME

(174,410

)

(142,667

)

NET ASSETS

1,000,679

895,435

CAPITAL AND RESERVES

Called up share capital

2,239

2,239

Share premium

8

24,261

24,261

Retained earnings

8

974,179

868,935

SHAREHOLDERS' FUNDS

1,000,679

895,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 26 April 2018 and were signed on its behalf by:

S A Moon - Director

1.	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 the net invoiced sales of goods and services, excluding value added

tax, in relation to the supply and installation of high technology security systems.

Tangible fixed assets

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

Land and buildings

-

2% straight line

Plant and machinery

-

20% reducing balance

Motor vehicles

-

25% reducing balance

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Stocks

Stock is valued at the lower of cost and net realisable value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and

Loss Account, 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

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.

Work in progress

Profit on long term contracts is taken as the work is carried out if the final outcome can be

assessed with reasonable certainty. The profit included is calculated on a prudent basis to

reflect the proportion of the work carried out at the year end, by recording turnover and

related costs as the contract activities progress. Turnover is calculated as that proportion of

total contract value which costs incurred to date bear in relation to total expected costs for

the contract. Revenues derived from variations on contracts are recognised only when they

have been accepted by the customer. Full provision is made for losses on all contracts in the

year in which they are first foreseen.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2017 - 33 ) .

3.	TANGIBLE FIXED ASSETS

Land and

Plant and

Motor

buildings

machinery

vehicles

Totals

£

£

£

£

COST

At 1 February 2017

523,367

81,465

474,689

1,079,521

Additions

72,191

1,303

-

73,494

Disposals

-

-

(14,308

)

(14,308

)

At 31 January 2018

595,558

82,768

460,381

1,138,707

DEPRECIATION

At 1 February 2017

77,838

30,656

237,549

346,043

Charge for year

11,782

5,948

59,287

77,017

Eliminated on disposal

-

-

(10,818

)

(10,818

)

At 31 January 2018

89,620

36,604

286,018

412,242

NET BOOK VALUE

At 31 January 2018

505,938

46,164

174,363

726,465

At 31 January 2017

445,529

50,809

237,140

733,478

4.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

At 1 February 2017

and 31 January 2018

684,000

41

684,041

NET BOOK VALUE

At 31 January 2018

684,000

41

684,041

At 31 January 2017

684,000

41

684,041

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

800,036

678,804

Amounts recoverable on contract

165,461

183,283

Directors' loan accounts

-

8,721

Tax

-

17,464

Prepayments & other debtors

29,369

24,422

994,866

912,694

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans

167,486

131,866

Hire purchase contracts

36,611

44,656

Trade creditors

470,162

505,396

Amounts owed to group undertakings

60,000

60,000

Corporation tax

20,453

-

Social security & other taxes

100,376

73,544

Other creditors & accruals

66,856

33,203

Directors' loan accounts

25,357

25,327

947,301

873,992

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

270,689

315,773

Hire purchase contracts

107,957

144,568

Amounts owed to group undertakings

-

60,000

378,646

520,341

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 February 2017

868,935

24,261

893,196

Profit for the year

221,076

-

221,076

Dividends

(115,832

)

-

(115,832

)

At 31 January 2018

974,179

24,261

998,440

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 January 2018 and 31 January 2017:

2018

2017

£

£

S A Moon

Balance outstanding at start of year

8,721

(853

)

Amounts advanced

-

9,574

Amounts repaid

(9,255

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(534

)

8,721