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REGISTERED NUMBER: 05454802 (England and Wales)















CODE SECURITY SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023






CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CODE SECURITY SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: Mr J A Oliver
Mrs S A Oliver





SECRETARY: Mrs S A Oliver





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 05454802 (England and Wales)





ACCOUNTANTS: Kounnis And Partners Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2023

30.4.23 30.4.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 307,165 349,304

CURRENT ASSETS
Stocks 167,282 237,834
Debtors 5 794,125 449,486
Cash at bank and in hand 310,142 481,648
1,271,549 1,168,968
CREDITORS
Amounts falling due within one year 6 (642,531 ) (589,031 )
NET CURRENT ASSETS 629,018 579,937
TOTAL ASSETS LESS CURRENT
LIABILITIES

936,183

929,241

CREDITORS
Amounts falling due after more than one
year

7

(138,790

)

(162,620

)

PROVISIONS FOR LIABILITIES (18,892 ) (22,364 )
NET ASSETS 778,501 744,257

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 9 60,448 60,448
Retained earnings 708,053 673,809
SHAREHOLDERS' FUNDS 778,501 744,257

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





Mr J A Oliver - Director


CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Code Security Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 15% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 32 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2022 300,000 171,491 32,026 64,756 568,273
Additions - - 348 6,709 7,057
Disposals - (32,046 ) - - (32,046 )
At 30 April 2023 300,000 139,445 32,374 71,465 543,284
DEPRECIATION
At 1 May 2022 52,598 96,684 25,326 44,361 218,969
Charge for year 6,000 17,123 1,866 12,219 37,208
Eliminated on disposal - (20,058 ) - - (20,058 )
At 30 April 2023 58,598 93,749 27,192 56,580 236,119
NET BOOK VALUE
At 30 April 2023 241,402 45,696 5,182 14,885 307,165
At 30 April 2022 247,402 74,807 6,700 20,395 349,304

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 68,400 - 68,400
Cost 231,600 243,284 474,884
300,000 243,284 543,284

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 May 2022 110,155
Transfer to ownership (28,138 )
At 30 April 2023 82,017
DEPRECIATION
At 1 May 2022 42,835
Charge for year 9,033
Transfer to ownership (19,697 )
At 30 April 2023 32,171
NET BOOK VALUE
At 30 April 2023 49,846
At 30 April 2022 67,320

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 744,412 418,529
Other debtors 49,713 30,957
794,125 449,486

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 26,550 31,792
Hire purchase contracts 12,489 17,066
Trade creditors 367,371 323,870
Taxation and social security 89,949 64,357
Other creditors 146,172 151,946
642,531 589,031

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.23 30.4.22
£    £   
Bank loans 125,222 135,071
Hire purchase contracts 13,568 27,549
138,790 162,620

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 74,480 68,557

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.23 30.4.22
£    £   
Bank overdrafts 15,007 14,014
Bank loans 136,765 152,849
Hire purchase contracts 26,057 44,615
177,829 211,478

The bank loan is secured by a fixed and floating charge over all of the assets of the company.

9. RESERVES
Fair
value
reserve
£   
At 1 May 2022
and 30 April 2023 60,448

10. CONTROLLING PARTY

The company is not under the control of any one person.