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COMPANY REGISTRATION NUMBER: 2720811
Astra Security Limited
Filleted Unaudited Financial Statements
31 May 2023
Astra Security Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
268,651
281,557
Current assets
Stocks
59,125
184,089
Debtors
6
830,611
781,945
Cash at bank and in hand
458,883
490,253
------------
------------
1,348,619
1,456,287
Creditors: amounts falling due within one year
7
490,782
839,993
------------
------------
Net current assets
857,837
616,294
------------
---------
Total assets less current liabilities
1,126,488
897,851
Creditors: amounts falling due after more than one year
8
33,123
51,076
------------
---------
Net assets
1,093,365
846,775
------------
---------
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
1,093,265
846,675
------------
---------
Shareholders funds
1,093,365
846,775
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Astra Security Limited
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 17 October 2023 , and are signed on behalf of the board by:
Mr P Beet
Director
Company registration number: 2720811
Astra Security Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 7 & 8, Northavon Business Centre, Dean Road, Yate, Bristol, BS37 5NH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
2% straight line
Fixtures & fittings
-
20% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2022: 18 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 June 2022
285,433
59,391
88,206
433,030
Additions
2,690
2,915
1,532
7,137
---------
--------
--------
---------
At 31 May 2023
288,123
62,306
89,738
440,167
---------
--------
--------
---------
Depreciation
At 1 June 2022
38,180
39,018
74,275
151,473
Charge for the year
6,009
6,040
7,994
20,043
---------
--------
--------
---------
At 31 May 2023
44,189
45,058
82,269
171,516
---------
--------
--------
---------
Carrying amount
At 31 May 2023
243,934
17,248
7,469
268,651
---------
--------
--------
---------
At 31 May 2022
247,253
20,373
13,931
281,557
---------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
669,201
641,615
Other debtors
161,410
140,330
---------
---------
830,611
781,945
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,401
8,400
Trade creditors
239,257
560,209
Corporation tax
135,059
106,045
Social security and other taxes
53,354
15,001
Other creditors
54,711
150,338
---------
---------
490,782
839,993
---------
---------
The bank loans are secured by fixed and floating charges.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
33,123
51,076
--------
--------
The bank loans are secured by fixed and floating charges.
Included within creditors: amounts falling due after more than one year is an amount of £9,076 (2022: £17,476) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loans are secured by fixed and floating charges.
9. Government grants
The amounts recognised in the financial statements for government grants are as follows:
2023
2022
£
£
Recognised in other operating income:
Government grants recognised directly in income
14,454
2,000
--------
-------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
'A' Ordinary shares of £ 1 each
51
51
51
51
'B' Ordinary shares of £ 1 each
35
35
35
35
'C' Ordinary shares of £ 1 each
4
4
4
4
'D' Ordinary shares of £ 1 each
5
5
5
5
'E' Ordinary shares of £ 1 each
5
5
5
5
----
----
----
----
100
100
100
100
----
----
----
----
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr S. Bird
5,332
5,332
Mr P Beet
65,481
2,267
67,748
--------
-------
----
--------
70,813
2,267
73,080
--------
-------
----
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr S. Bird
5,128
204
5,332
Mr P Beet
8,936
76,545
( 20,000)
65,481
--------
--------
--------
--------
14,064
76,749
( 20,000)
70,813
--------
--------
--------
--------
Loans to directors are repayable on demand with interest being charged at HMRC rates.