Smarter Security Solutions Limited |
Registered Number:06327930 |
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
Smarter Security Solutions Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
39,281
24,451
39,281
24,451
59,000
46,340
2
Trade and other receivables |
102,543
114,094
3
-
2,701
233,392
Cash and cash equivalents |
225,097
388,232
394,935
Trade and other payables: amounts falling due within one |
year |
(293,863)
(317,703)
4
101,072
70,529
Net current assets
Total assets less current liabilities |
109,810
125,523
Trade and other payables: amounts falling due after more |
than one year |
(6,548)
(16,307)
5
(7,296)
(4,442)
Provisions for liabilities |
86,207
Net assets
114,533
200
200
86,007
114,333
86,207
114,533
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
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 proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
1 of 5
For the year ended 31 March 2023
Smarter Security Solutions Limited
Statement of Financial Position Continued
Mr Paul Donald Chater Director |
Mr Steven Michael Smart Director |
These financial statements were approved and authorised for issue by the Board on 14 November 2023 and were signed by: |
The notes form part of these financial statements |
2 of 5
For the year ended 31 March 2023
Smarter Security Solutions Limited
Notes to the Financial Statements
Statutory Information
Smarter Security Solutions Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 06327930. |
Unit 8 Business Park
Northampton Road, Blisworth
Northampton
Northants
NN7 3DW
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Leasehold improvements are depreciated over the term of the lease. |
Leasehold Improvements
Plant and machinery
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date. |
Hire purchase and leasing commitments
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
3 of 5
For the year ended 31 March 2023
Smarter Security Solutions Limited
Notes to the Financial Statements Continued
Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other |
Financial Instruments Issues" of FRS 102 to all of its financial instruments. Financial instruments are recognised in |
the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilties are offset, with the net amounts presented in the financial statements, when there is a |
legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to |
realise the asset and settle the liability simultaneously. |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price |
including transaction costs and are subsequently carried at amortised cost using the effective interest method unless |
the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
future receipts discounted at a market rate of interest. |
Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements |
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company |
after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and bank loans, are initially recognised at transaction price unless the |
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the |
future payments discounted at a market rate of interest. |
Financial liabilities classified as paybale within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
2022
2023
46,340
59,000
Stock and WIP
3. Trade and other receivables |
2022
2023
108,980
96,483
Prepayments and accrued income |
1,928
2,051
3,186
4,009
102,543
114,094
4 of 5
For the year ended 31 March 2023
Smarter Security Solutions Limited
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year |
2022
2023
70,532
43,365
Taxation and social security |
40,647
49,871
Accruals and deferred income |
1,766
1,662
197,059
195,556
Obligations under HP/Financial leases |
7,699
3,409
317,703
293,863
5. Trade and other payables: amounts falling due after more than one year |
2022
2023
6,548
16,307
Obligations under HP/Financial leases |
6. Related party transactions |
At the balance sheet date, the directors PD Chater and SM Smart we owed £100,234 (2022 - £100,118) and £96,824 |
(2022 - £95,438) respectively. There are interest free and repayable on demand. |
7. Guarantees and other financial commitments |
At 31 March 2023 the company had annual commitments under non-cancellable operating leases as set out below: |
2022
2023
Operating leases which expire: |
10,646
11,676
15,569
69,230
79,876
27,245
8. Average number of persons employed |
During the year the average number of employees was 8 (2022 : 7)
5 of 5