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Company Registration No. 06475405 (England and Wales)
A B SECURITY AND ELECTRICAL LIMITED Unaudited accounts for the year ended 31 January 2023
A B SECURITY AND ELECTRICAL LIMITED Unaudited accounts Contents
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A B SECURITY AND ELECTRICAL LIMITED Company Information for the year ended 31 January 2023
Director
A E Bailey
Secretary
Mrs L Bailey
Company Number
06475405 (England and Wales)
Registered Office
3 High Street Ibstock Leicestershire LE67 6LG UK
Accountants
City Tax Shop Limited 8 Ridge House Drive Festival Park Stoke-on-Trent Staffs ST1 5SJ
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A B SECURITY AND ELECTRICAL LIMITED Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
15,886 
181 
Current assets
Inventories
10,300 
3,700 
Debtors
9,724 
12,838 
Cash at bank and in hand
3,376 
20,529 
23,400 
37,067 
Creditors: amounts falling due within one year
(16,657)
(18,923)
Net current assets
6,743 
18,144 
Total assets less current liabilities
22,629 
18,325 
Creditors: amounts falling due after more than one year
(13,611)
(17,478)
Provisions for liabilities
Deferred tax
(3,018)
(34)
Net assets
6,000 
813 
Capital and reserves
Called up share capital
50 
50 
Profit and loss account
5,950 
763 
Shareholders' funds
6,000 
813 
For the year ending 31 January 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 October 2023 and were signed on its behalf by
A E Bailey Director Company Registration No. 06475405
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A B SECURITY AND ELECTRICAL LIMITED Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
A B SECURITY AND ELECTRICAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06475405. The registered office is 3 High Street, Ibstock, Leicestershire, LE67 6LG, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
20% on reducing balance
Deferred taxation
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 accounts. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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A B SECURITY AND ELECTRICAL LIMITED Notes to the Accounts for the year ended 31 January 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2022
1,309 
- 
2,071 
3,380 
Additions
- 
20,990 
- 
20,990 
At 31 January 2023
1,309 
20,990 
2,071 
24,370 
Depreciation
At 1 February 2022
1,251 
- 
1,948 
3,199 
Charge for the year
12 
5,248 
25 
5,285 
At 31 January 2023
1,263 
5,248 
1,973 
8,484 
Net book value
At 31 January 2023
46 
15,742 
98 
15,886 
At 31 January 2022
58 
- 
123 
181 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,985 
12,134 
Accrued income and prepayments
739 
704 
9,724 
12,838 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
2,625 
3,254 
Trade creditors
11,527 
5,855 
Taxes and social security
(115)
2,920 
Other creditors
1,362 
4,839 
Loans from directors
1,258 
2,047 
Accruals
- 
8 
16,657 
18,923 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
13,611 
17,478 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50 
50 
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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