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Registration number: 04221915

Sentry Security Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Sentry Security Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Sentry Security Ltd

Company Information

Director

Mr Mark Adamson

Registered office

Second Floor
Evans House
Norman Street
Warrington
WA2 7HW

Accountants

Davidson Stant Limited
The Glen
Knutsford Old Road
Stockton Heath
Warrington
Cheshire
WA4 2LD

 

Sentry Security Ltd

(Registration number: 04221915)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

3

1

1

Tangible assets

4

24,909

11,960

 

24,910

11,961

Current assets

 

Debtors

5

258,813

144,939

Cash at bank and in hand

 

357,973

362,616

 

616,786

507,555

Creditors: Amounts falling due within one year

6

(143,647)

(121,588)

Net current assets

 

473,139

385,967

Net assets

 

498,049

397,928

Capital and reserves

 

Called up share capital

7

5

5

Retained earnings

498,044

397,923

Shareholders' funds

 

498,049

397,928

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 November 2023
 

.........................................

Mr Mark Adamson

Director

 

Sentry Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures , fittings & equipment

25% reducing balance

Motor Vehicles

25% reducing balance

 

Sentry Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

4 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 28 (2022 - 26).

 

Sentry Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

3

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2022

16,667

16,667

At 31 May 2023

16,667

16,667

Amortisation

At 1 June 2022

16,666

16,666

At 31 May 2023

16,666

16,666

Carrying amount

At 31 May 2023

1

1

At 31 May 2022

1

1

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2022

16,861

44,764

61,625

Additions

1,332

18,000

19,332

At 31 May 2023

18,193

62,764

80,957

Depreciation

At 1 June 2022

15,700

33,965

49,665

Charge for the year

623

5,760

6,383

At 31 May 2023

16,323

39,725

56,048

Carrying amount

At 31 May 2023

1,870

23,039

24,909

At 31 May 2022

1,161

10,799

11,960

5

Debtors

Current

2023
£

2022
£

Trade debtors

258,813

144,939

 

Sentry Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

129,512

108,916

Accruals and deferred income

1,755

1,635

Other creditors

12,380

11,037

143,647

121,588

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

5

5

5

5

         

8

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £7,486.00 (2022 - £8,100.00) per each Ordinary shares

 

37,430

 

40,500

         

Reconciliation to Dividends categories

Difference to be corrected

 

 

-

9

Related party transactions

 

Sentry Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

12,570

9,462