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REGISTERED NUMBER: 04024536 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

ABSOLUTE SECURITY SYSTEMS LIMITED

ABSOLUTE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 04024536)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABSOLUTE SECURITY SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mr A J Busek
Mr J W Lewis





REGISTERED OFFICE: 5 Langham Park
Catteshall Lane
Godalming
Surrey
GU7 1NG





REGISTERED NUMBER: 04024536 (England and Wales)






ABSOLUTE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 04024536)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 51,842 8,341
51,842 8,341

CURRENT ASSETS
Stocks 117,183 115,918
Debtors 7 1,416,738 1,161,610
Cash at bank and in hand 186,634 418,719
1,720,555 1,696,247
CREDITORS
Amounts falling due within one year 8 1,472,484 1,472,969
NET CURRENT ASSETS 248,071 223,278
TOTAL ASSETS LESS CURRENT
LIABILITIES

299,913

231,619

CREDITORS
Amounts falling due after more than one
year

9

(30,157

)

-

PROVISIONS FOR LIABILITIES (584 ) (1,619 )
NET ASSETS 269,172 230,000

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 269,072 229,900
SHAREHOLDERS' FUNDS 269,172 230,000

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

ABSOLUTE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 04024536)

BALANCE SHEET - continued
30 JUNE 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 11 October 2023 and were signed on its behalf by:





Mr A J Busek - Director


ABSOLUTE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 04024536)

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


1. STATUTORY INFORMATION

Absolute 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% straight line
Plant and machinery - 20% straight line
Fixtures and fittings - 20% straight line
Computer equipment - 33% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


ABSOLUTE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 04024536)

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


3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 24 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 1,080,000
AMORTISATION
At 1 July 2022
and 30 June 2023 1,080,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

ABSOLUTE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 04024536)

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


6. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 16,246 12,000 7,240 40,443 75,929
Additions - 46,499 2,820 1,062 50,381
At 30 June 2023 16,246 58,499 10,060 41,505 126,310
DEPRECIATION
At 1 July 2022 16,246 9,600 6,974 34,768 67,588
Charge for year - 4,725 136 2,019 6,880
At 30 June 2023 16,246 14,325 7,110 36,787 74,468
NET BOOK VALUE
At 30 June 2023 - 44,174 2,950 4,718 51,842
At 30 June 2022 - 2,400 266 5,675 8,341

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 651,214 582,307
Amounts owed by group undertakings 609,659 477,502
Other debtors 155,865 101,801
1,416,738 1,161,610

Included in other debtors is £155,865 (2022: £101,801) in relation to prepayments and accrued income.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,932 2,815
Trade creditors 378,274 443,826
Taxation and social security 166,156 196,843
Other creditors 922,122 829,485
1,472,484 1,472,969

Included in other creditors is £16,323 (2022: £18,435) in relation to accruals and £850,114 (2022: £764,807) in relation to deferred income on non refundable service agreements paid annually in advance.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 30,157 -

ABSOLUTE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 04024536)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 36,089 2,815

The hire purchase contracts are secured over the fixed assets in the company to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary A 1p 100 100

12. OTHER FINANCIAL COMMITMENTS

The total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £312,217 (2021: £335,460).

The amount is in relation to operating lease commitments which are payable over the next 4 years.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.