G.D. Security Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01805191 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2018

for

G.D. Security Systems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

C Antoniou

REGISTERED OFFICE:

16 Beaufort Court

Admirals Way

Docklands

London

E14 9XL

REGISTERED NUMBER:

01805191 (England and Wales)

ACCOUNTANTS:

RBS Accountants Limited

16 Beaufort Court

Admirals Way

London

Docklands

London

E14 9XL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

63,130

28,229

63,130

28,229

CURRENT ASSETS

Stocks

5,067

75,317

Debtors

6

557,151

599,146

Cash at bank and in hand

227,790

204,778

790,008

879,241

CREDITORS

Amounts falling due within one year

7

480,545

583,933

NET CURRENT ASSETS

309,463

295,308

TOTAL ASSETS LESS CURRENT LIABILITIES

372,593

323,537

CREDITORS

Amounts falling due after more than one year

8

37,725

-

NET ASSETS

334,868

323,537

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

324,868

313,537

SHAREHOLDERS' FUNDS

334,868

323,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 18 January 2019 and were signed by:

C Antoniou - Director

1.	STATUTORY INFORMATION

G.D. 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 net invoiced value of goods and services excluding value added tax. Income is recognised as

services are performed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of maintenance contracts, is being amortised

evenly over its estimated useful life of 3 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Stocks and work in progress

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred income

Income has been deferred where the sales invoiced value of services in the year covers a period, which extends

beyond the year end.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2017 - 70 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2017

and 30 April 2018

172,832

AMORTISATION

At 1 May 2017

and 30 April 2018

172,832

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

-

5.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2017

131,420

78,586

210,006

Additions

56,212

1,656

57,868

At 30 April 2018

187,632

80,242

267,874

DEPRECIATION

At 1 May 2017

130,679

51,098

181,777

Charge for year

14,607

8,360

22,967

At 30 April 2018

145,286

59,458

204,744

NET BOOK VALUE

At 30 April 2018

42,346

20,784

63,130

At 30 April 2017

741

27,488

28,229

6.

DEBTORS

30.4.18

30.4.17

£

£

Amounts falling due within one year:

Trade debtors

265,250

265,863

Other debtors

27

173

Prepayments

30,752

36,988

296,029

303,024

Amounts falling due after more than one year:

Amounts owed by group undertakings

261,122

296,122

Aggregate amounts

557,151

599,146

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Hire purchase contracts (see note 9)

11,962

-

Trade creditors

87,210

187,240

Tax

9,523

13,787

Social security and other taxes

8,264

10,765

VAT

47,401

36,839

Other creditors

5,793

619

Deferred income

294,318

320,901

Accrued expenses

16,074

13,782

480,545

583,933

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.18

30.4.17

£

£

Hire purchase contracts (see note 9)

37,725

-

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30.4.18

30.4.17

£

£

Net obligations repayable:

Within one year

11,962

-

Between one and five years

37,725

-

49,687

-

Non-cancellable operating

leases

30.4.18

30.4.17

£

£

Within one year

22,000

22,000

Between one and five years

110,000

110,000

132,000

132,000

10.	RELATED PARTY DISCLOSURES

During the year the company has declared dividends of £160,000 (2017-£100,000) .

11.	ULTIMATE CONTROLLING PARTY

The controlling party is OCL.

The ultimate controlling party is Bill Davis & Associates LLC.

The following reproduces the text of the report prepared for the director 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 Income Statement and certain other primary statements and the

Report of the Director 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 G.D. Security Systems Limited for the year ended 30 April 2018 which comprise the Income

Statement, 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 director of G.D. Security Systems Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G.D. Security Systems Limited and state those matters that we have agreed to state to the director of G.D. Security Systems Limited 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 G.D. Security Systems Limited and its director for our work or for this report.

It is your duty to ensure that G.D. 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 G.D. Security Systems Limited. You consider that G.D. 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 G.D. 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.

RBS Accountants Limited

16 Beaufort Court

Admirals Way

London

Docklands

London

E14 9XL

Date: .............................................