Abbreviated Company Accounts - G.B. SECURITY SYSTEMS LIMITED

G.B. SECURITY SYSTEMS LIMITED - Company Information

Registered Number 03099049

G.B. SECURITY SYSTEMS LIMITED

Abbreviated Accounts

31 March 2014

G.B. SECURITY SYSTEMS LIMITED Registered Number 03099049

Abbreviated Balance Sheet as at 31 March 2014

	Notes	31/03/2014	30/09/2012
		£	£
Fixed assets
Tangible assets	2	7,299	16,727
		7,299	16,727
Current assets
Stocks		11,579	7,000
Debtors		168,682	134,341
Cash at bank and in hand		55,623	73,594
		235,884	214,935
Creditors: amounts falling due within one year		(231,884)	(216,000)
Net current assets (liabilities)		4,000	(1,065)
Total assets less current liabilities		11,299	15,662
Creditors: amounts falling due after more than one year		(1,111)	(6,258)
Provisions for liabilities		-	(1,200)
Total net assets (liabilities)		10,188	8,204
Capital and reserves
Called up share capital		122	122
Profit and loss account		10,066	8,082
Shareholders' funds		10,188	8,204

For the year ending 31 March 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 directors acknowledge their 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 Board on 23 December 2014

And signed on their behalf by:
Mr M Greaves, Director

G.B. SECURITY SYSTEMS LIMITED Registered Number 03099049

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment - Straight line to residual value over 15 years
Motor vehicles - Straight line to residual value over 4 years

Other accounting policies
Revenue recognition
Revenue in respect to new installations is recognised at the point where all work has been completed and the system is operational. If there are stage payments which are non-refundable then income will be recognised as these fall due. Monitoring income is recognised on a month by month basis.

2Tangible fixed assets

	£
Cost
At 1 October 2012	40,627
Additions	463
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	41,090
Depreciation
At 1 October 2012	23,900
Charge for the year	9,891
On disposals	-
At 31 March 2014	33,791
Net book values
At 31 March 2014	7,299
At 30 September 2012	16,727