Registration number:
Eye Spy Security Systems Limited
for the Year Ended 31 March 2022
Eye Spy Security Systems Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Eye Spy Security Systems Limited
Company Information
Director |
Mr S Pitman |
Registered office |
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Accountants |
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Eye Spy Security Systems Limited
(Registration number: 10083967)
Balance Sheet as at 31 March 2022
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2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Eye Spy Security Systems Limited
(Registration number: 10083967)
Balance Sheet as at 31 March 2022
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Eye Spy Security Systems Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
Wales
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Government grants
Government grants are recognised when it is reasonable to expect that the grants will be received and that all
related conditions will be met, usually on submission of a valid claim for payment.
Government grants in respect of capital expenditure are credited to a deferred income account and are released
to profit over the expected useful lives of the relevant assets.
Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Eye Spy Security Systems Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% reducing balance |
Office equipment |
3 years straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Eye Spy Security Systems Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Tangible assets |
Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 April 2021 |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
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Charge for the year |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Debtors |
2022 |
2021 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Eye Spy Security Systems Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Bank loans and overdrafts |
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Directors loan account |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2022 |
2021 |
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Non-current loans and borrowings |
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Bank borrowings |
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2021 |
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Current loans and borrowings |
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Bank borrowings |
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Bank borrowings
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Eye Spy Security Systems Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Related party transactions |
Transactions with the director |
2022 |
At 1 April 2021 |
Advances to directors |
At 31 March 2022 |
Mr S Pitman |
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Overdrawn directors loan - interest charged at HMRC approved rate |
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Directors' remuneration
The director's remuneration for the year was as follows:
2022 |
2021 |
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Remuneration |
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