Silverfin false 31/08/2021 31/08/2021 01/09/2020 Glenn Raymond Kippen 24/08/2011 24 August 2022 The principal activity of the Company during the financial year was for the supply and installation of fire safety systems. SC406003 2021-08-31 SC406003 bus:Director1 2021-08-31 SC406003 2020-08-31 SC406003 core:CurrentFinancialInstruments 2021-08-31 SC406003 core:CurrentFinancialInstruments 2020-08-31 SC406003 core:Non-currentFinancialInstruments 2021-08-31 SC406003 core:Non-currentFinancialInstruments 2020-08-31 SC406003 core:ShareCapital 2021-08-31 SC406003 core:ShareCapital 2020-08-31 SC406003 core:RetainedEarningsAccumulatedLosses 2021-08-31 SC406003 core:RetainedEarningsAccumulatedLosses 2020-08-31 SC406003 core:OtherPropertyPlantEquipment 2020-08-31 SC406003 core:OtherPropertyPlantEquipment 2021-08-31 SC406003 core:RemainingRelatedParties core:CurrentFinancialInstruments 2021-08-31 SC406003 core:RemainingRelatedParties core:CurrentFinancialInstruments 2020-08-31 SC406003 bus:OrdinaryShareClass1 2021-08-31 SC406003 core:OtherRelatedParties 2021-08-31 SC406003 core:OtherRelatedParties 2020-08-31 SC406003 core:KeyManagementPersonnel 2021-08-31 SC406003 core:KeyManagementPersonnel 2020-08-31 SC406003 2020-09-01 2021-08-31 SC406003 bus:FullAccounts 2020-09-01 2021-08-31 SC406003 bus:SmallEntities 2020-09-01 2021-08-31 SC406003 bus:AuditExemptWithAccountantsReport 2020-09-01 2021-08-31 SC406003 bus:PrivateLimitedCompanyLtd 2020-09-01 2021-08-31 SC406003 bus:Director1 2020-09-01 2021-08-31 SC406003 core:OtherPropertyPlantEquipment core:TopRangeValue 2020-09-01 2021-08-31 SC406003 2019-09-01 2020-08-31 SC406003 core:OtherPropertyPlantEquipment 2020-09-01 2021-08-31 SC406003 bus:OrdinaryShareClass1 2020-09-01 2021-08-31 SC406003 bus:OrdinaryShareClass1 2019-09-01 2020-08-31 SC406003 core:KeyManagementPersonnel 2020-09-01 2021-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC406003 (Scotland)

UNITE SECURITY ELECTRICAL & FIRE LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2021
PAGES FOR FILING WITH THE REGISTRAR

UNITE SECURITY ELECTRICAL & FIRE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2021

Contents

UNITE SECURITY ELECTRICAL & FIRE LTD

BALANCE SHEET

AS AT 31 AUGUST 2021
UNITE SECURITY ELECTRICAL & FIRE LTD

BALANCE SHEET (continued)

AS AT 31 AUGUST 2021
Note 2021 2020
£ £
Fixed assets
Tangible assets 3 1,232 0
1,232 0
Current assets
Stocks 4 7,084 2,000
Debtors 5 20,615 7,499
Cash at bank and in hand 6 3,784 25,240
31,483 34,739
Creditors
Amounts falling due within one year 7 ( 9,626) ( 7,543)
Net current assets 21,857 27,196
Total assets less current liabilities 23,089 27,196
Creditors
Amounts falling due after more than one year 8 ( 20,201) ( 24,635)
Net assets 2,888 2,561
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 2,788 2,461
Total shareholder's funds 2,888 2,561

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

Director's responsibilities:

The financial statements of Unite Security Electrical & Fire Ltd (registered number: SC406003) were approved and authorised for issue by the Director on 24 August 2022. They were signed on its behalf by:

Glenn Raymond Kippen
Director
UNITE SECURITY ELECTRICAL & FIRE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2021
UNITE SECURITY ELECTRICAL & FIRE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2021
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Unite Security Electrical & Fire Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 25 Bertha Park View, Inveralmond Industrial Estate, Perth, PH1 3FZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable for the supply and installation of fire systems net of VAT and trade discounts. Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2021 2020
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2020 0 0
Additions 1,232 1,232
At 31 August 2021 1,232 1,232
Accumulated depreciation
At 01 September 2020 0 0
At 31 August 2021 0 0
Net book value
At 31 August 2021 1,232 1,232
At 31 August 2020 0 0

4. Stocks

2021 2020
£ £
Stocks 7,084 2,000

5. Debtors

2021 2020
£ £
Trade debtors 584 3,687
Amounts owed by related parties (note 10) 16,651 1,536
Corporation tax 212 569
Other debtors 3,168 1,707
20,615 7,499

6. Cash and cash equivalents

2021 2020
£ £
Cash at bank and in hand 3,784 25,240

7. Creditors: amounts falling due within one year

2021 2020
£ £
Trade creditors 4,205 5,567
Other creditors 5,421 1,976
9,626 7,543

8. Creditors: amounts falling due after more than one year

2021 2020
£ £
Bank loans 20,201 24,635

9. Called-up share capital

2021 2020
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Transactions with related parties or connected persons

Amounts owed by related parties

2021 2020
£ £
Other related party 16,651 1,536

Transactions with the entity’s director (or members of its governing body)

Amounts owed to director

2021 2020
£ £
Directors' current account 11 11

The loan is unsecured, interest free and has no fixed terms of repayment.