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Registration number: 02837224

Epg Security Systems Limited

Unaudited Financial Statements

for the Year Ended 31 October 2021

 

Epg Security Systems Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Epg Security Systems Limited

(Registration number: 02837224)
Balance Sheet as at 31 October 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

428,996

437,694

Current assets

 

Stocks

4,196

696

Debtors

5

475,648

549,322

Cash at bank and in hand

 

17,228

6,386

 

497,072

556,404

Creditors: Amounts falling due within one year

6

(475,769)

(549,779)

Net current assets

 

21,303

6,625

Total assets less current liabilities

 

450,299

444,319

Creditors: Amounts falling due after more than one year

6

(239,187)

(242,461)

Provisions for liabilities

(464)

(464)

Net assets

 

210,648

201,394

Capital and reserves

 

Called up share capital

5,000

5,000

Other reserves

87,000

87,000

Profit and loss account

118,648

109,394

Shareholders' funds

 

210,648

201,394

For the financial year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and Directors Report has been taken.

 

Epg Security Systems Limited

(Registration number: 02837224)
Balance Sheet as at 31 October 2021

Approved and authorised by the Board on 9 August 2022 and signed on its behalf by:
 

.........................................
Mr JF Strickland
Director

 

Epg Security Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
417 - 419 Newcastle Road
Shavington
Cheshire
CW2 5EB
UK

2

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.

Any amounts outstanding at the year end will be included within other debtors.

 

Epg Security Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

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.

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

Freehold property

2% on Cost

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Epg Security Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2020 - 12).

 

Epg Security Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2020

501,738

27,283

44,754

15,658

589,433

Additions

-

5,352

-

-

5,352

At 31 October 2021

501,738

32,635

44,754

15,658

594,785

Depreciation

At 1 November 2020

86,632

26,284

25,578

13,245

151,739

Charge for the year

8,097

797

4,794

362

14,050

At 31 October 2021

94,729

27,081

30,372

13,607

165,789

Carrying amount

At 31 October 2021

407,009

5,554

14,382

2,051

428,996

At 31 October 2020

415,106

999

19,176

2,413

437,694

 

Epg Security Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

5

Debtors

2021
£

2020
£

Trade debtors

317,041

422,044

Other debtors

158,607

127,278

475,648

549,322

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Bank loans and overdrafts

116,360

123,796

Trade creditors

 

194,571

304,452

Taxation and social security

 

53,423

53,731

Other creditors

 

111,415

67,800

 

475,769

549,779

Due after one year

 

Loans and borrowings

239,187

242,461

2021
£

2020
£

Current loans and borrowings

Bank borrowings

102,203

117,799

Bank overdrafts

14,157

5,997

116,360

123,796