Company Registration No. 04384010 (England and Wales)
INTEGRATED ELECTRONIC SECURITY LTD
Unaudited accounts
for the year ended 28 February 2023
INTEGRATED ELECTRONIC SECURITY LTD
Unaudited accounts
Contents
INTEGRATED ELECTRONIC SECURITY LTD
Company Information
for the year ended 28 February 2023
Directors
Alan BAKER
William White WILSON
Secretary
William White WILSON
Company Number
04384010 (England and Wales)
Registered Office
BRITANNIA HOUSE
20 FALCON COURT BUSINESS PARK
PRESTON FARM
STOCKTON ON TEES
TS18 3TX
INTEGRATED ELECTRONIC SECURITY LTD
Statement of financial position
as at 28 February 2023
Tangible assets
119,710
36,885
Cash at bank and in hand
710,561
862,470
Creditors: amounts falling due within one year
(268,638)
(579,384)
Net current assets
679,168
481,776
Net assets
798,878
518,661
Called up share capital
100
100
Profit and loss account
798,778
518,561
Shareholders' funds
798,878
518,661
For the year ending 28 February 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by
Alan BAKER
Director
Company Registration No. 04384010
INTEGRATED ELECTRONIC SECURITY LTD
Notes to the Accounts
for the year ended 28 February 2023
INTEGRATED ELECTRONIC SECURITY LTD is a private company, limited by shares, registered in England and Wales, registration number 04384010. The registered office is BRITANNIA HOUSE, 20 FALCON COURT BUSINESS PARK, PRESTON FARM, STOCKTON ON TEES, TS18 3TX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
30% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
30% reducing balance
Other tangible fixed assets
Leased asets over the shorter of useful life and lease term
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
INTEGRATED ELECTRONIC SECURITY LTD
Notes to the Accounts
for the year ended 28 February 2023
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2022
20,241
82,336
15,308
16,517
134,402
Additions
503
96,835
-
-
97,338
At 28 February 2023
20,744
179,171
15,308
16,517
231,740
At 1 March 2022
20,215
45,774
15,118
16,410
97,517
Charge for the year
159
14,274
48
32
14,513
At 28 February 2023
20,374
60,048
15,166
16,442
112,030
At 28 February 2023
370
119,123
142
75
119,710
At 28 February 2022
26
36,562
190
107
36,885
Amounts falling due within one year
Trade debtors
150,647
81,023
Deferred tax asset
8,546
-
Accrued income and prepayments
3,252
-
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
17,275
343,819
Taxes and social security
99,094
59,484
Loans from directors
(16,391)
18,102
Deferred income
118,131
157,979
INTEGRATED ELECTRONIC SECURITY LTD
Notes to the Accounts
for the year ended 28 February 2023
7
Deferred taxation
2023
2022
Accelerated capital allowances
(8,546)
-
Credited to the profit and loss account
(8,546)
-
Provision at end of year
(8,546)
-
Deferred tax is adjusted to 25% Corporation Tax rate and entered as a cumulative deferred tax including previous years' non recognised deferred taxation
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan repayable on demand
-
6,848
-
6,848
Interest free loan repayable on demand
-
9,543
-
9,543
The loan is repayable on demand and provided interest free
9
Average number of employees
During the year the average number of employees was 8 (2022: 8).