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REGISTERED NUMBER: SC105490 (Scotland)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Standard Security Systems Limited

Standard Security Systems Limited (Registered number: SC105490)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


Standard Security Systems Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: A Paterson





REGISTERED OFFICE: 9B Hunter Drive
Stonehaven
Kincardineshire
AB39 2BG





REGISTERED NUMBER: SC105490 (Scotland)





ACCOUNTANTS: MacDonald Accountancy Services
11 Margaret Street
Stonehaven
Aberdeenshire
AB39 2AY

Standard Security Systems Limited (Registered number: SC105490)

Report of the Director
for the Year Ended 31 March 2023

The director presents his report with the financial statements of the company for the year ended 31 March 2023.

DIRECTOR
A Paterson held office during the whole of the period from 1 April 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A Paterson - Director


8 November 2023

Standard Security Systems Limited (Registered number: SC105490)

Income Statement
for the Year Ended 31 March 2023

31.3.23 31.3.22
Notes £    £   

TURNOVER 54,111 51,762

Cost of sales 11,476 12,769
GROSS PROFIT 42,635 38,993

Administrative expenses 39,025 38,799
3,610 194

Other operating income - 2,112
OPERATING PROFIT and
PROFIT BEFORE TAXATION 3,610 2,306

Tax on profit 686 135
PROFIT FOR THE FINANCIAL YEAR 2,924 2,171

Standard Security Systems Limited (Registered number: SC105490)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Cash at bank 19,111 18,151

CREDITORS
Amounts falling due within one year 6 14,435 14,399
NET CURRENT ASSETS 4,676 3,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,676

3,752

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,576 3,652
SHAREHOLDERS' FUNDS 4,676 3,752

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 8 November 2023 and were signed by:





A Paterson - Director


Standard Security Systems Limited (Registered number: SC105490)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Standard Security Systems Limited is a private company, limited by shares , registered in Scotland. 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.

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.
Plant and machinery etc - 25% on reducing balance

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.

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.

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.

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 2 (2022 - 2 ) .

Standard Security Systems Limited (Registered number: SC105490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.23 31.3.22
£    £   
Depreciation - owned assets - 1,125

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 8,250
Disposals (8,250 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 8,250
Eliminated on disposal (8,250 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -

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

Plant and
machinery
etc
£   
COST
At 1 April 2022 8,250
Disposals (8,250 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 2,965
Eliminated on disposal (2,965 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 5,285

Standard Security Systems Limited (Registered number: SC105490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Taxation and social security 686 1,083
Other creditors 13,749 13,316
14,435 14,399