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REGISTERED NUMBER: 07659540 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2023

for

SWAN SECURITY SYSTEMS LIMITED

SWAN SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07659540)

Contents of the Financial Statements
for the Year Ended 30th June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SWAN SECURITY SYSTEMS LIMITED

Company Information
for the Year Ended 30th June 2023







DIRECTORS: Mr D Smith
Mrs J Smith





REGISTERED OFFICE: 4 Clews Road
Redditch
West Midlands
B98 7ST





REGISTERED NUMBER: 07659540 (England and Wales)





ACCOUNTANTS: Hayward Wright Ltd
4 Clews Road
Redditch
Worcestershire
B98 7ST

SWAN SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07659540)

Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 104,604 54,270
104,604 54,270

CURRENT ASSETS
Stocks 6 6,500 6,500
Debtors 7 88,140 68,486
Cash at bank and in hand 204,049 135,996
298,689 210,982
CREDITORS
Amounts falling due within one year 8 170,370 110,668
NET CURRENT ASSETS 128,319 100,314
TOTAL ASSETS LESS CURRENT LIABILITIES 232,923 154,584

CREDITORS
Amounts falling due after more than one
year

9

73,517

46,657
NET ASSETS 159,406 107,927

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 159,404 107,925
SHAREHOLDERS' FUNDS 159,406 107,927

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

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

SWAN SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07659540)

Balance Sheet - continued
30th 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th October 2023 and were signed on its behalf by:





Mr D Smith - Director


SWAN SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07659540)

Notes to the Financial Statements
for the Year Ended 30th June 2023


1. STATUTORY INFORMATION

Swan 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.

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 2016, is being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on 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 Statement of Income and Retained Earnings, 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.


SWAN SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07659540)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023


2. 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.

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 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2022
and 30th June 2023 35,000
AMORTISATION
At 1st July 2022
and 30th June 2023 35,000
NET BOOK VALUE
At 30th June 2023 -
At 30th June 2022 -

SWAN SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07659540)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023


5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st July 2022 57,882 52,696 4,529 115,107
Additions 44,916 50,500 - 95,416
Disposals (10,882 ) (12,000 ) - (22,882 )
At 30th June 2023 91,916 91,196 4,529 187,641
DEPRECIATION
At 1st July 2022 23,073 33,391 4,373 60,837
Charge for year 21,299 16,917 139 38,355
Eliminated on disposal (6,291 ) (9,864 ) - (16,155 )
At 30th June 2023 38,081 40,444 4,512 83,037
NET BOOK VALUE
At 30th June 2023 53,835 50,752 17 104,604
At 30th June 2022 34,809 19,305 156 54,270

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st July 2022 10,882 12,000 22,882
Additions 44,602 50,500 95,102
At 30th June 2023 55,484 62,500 117,984
DEPRECIATION
At 1st July 2022 6,291 9,864 16,155
Charge for year 11,151 12,625 23,776
At 30th June 2023 17,442 22,489 39,931
NET BOOK VALUE
At 30th June 2023 38,042 40,011 78,053
At 30th June 2022 4,591 2,136 6,727

6. STOCKS
2023 2022
£    £   
Stocks 6,500 6,500

SWAN SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07659540)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 77,589 55,285
Deferred tax asset 1,371 9,997
Prepayments 9,180 3,204
88,140 68,486

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 14,579 14,579
Hire purchase contracts 16,300 1,792
Trade creditors 22,381 26,600
VAT 28,768 23,092
Other creditors 9,371 9,000
Directors' loan accounts 78,971 35,605
170,370 110,668

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 29,921 44,119
Hire purchase contracts 43,596 2,538
73,517 46,657

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 4,579 4,579
Bounce Back Loan repayable within 1 year 10,000 10,000
14,579 14,579

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,579 4,579
Bounce back loan repayable within 1-2
years

10,000

10,000
14,579 14,579

SWAN SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 07659540)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023


10. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 5,342 9,540
Bounce Back Loan repayable within 2-5
years

10,000

20,000
15,342 29,540

11. DEFERRED TAX
£   
Balance at 1st July 2022 (9,997 )
Provided during year 8,626
Balance at 30th June 2023 (1,371 )

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary A 1 1 1
1 Ordinary B 1 1 1
2 2