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COMPANY REGISTRATION NUMBER: 01806089
A R P SECURITY SERVICES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2023
A R P SECURITY SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
168,927
126,958
CURRENT ASSETS
Stocks
9,256
8,213
Debtors
6
407,234
336,298
Cash at bank and in hand
178,045
158,774
----------
----------
594,535
503,285
CREDITORS: amounts falling due within one year
7
313,038
298,998
----------
----------
NET CURRENT ASSETS
281,497
204,287
----------
----------
TOTAL ASSETS LESS CURRENT LIABILITIES
450,424
331,245
CREDITORS: amounts falling due after more than one year
8
40,909
58,314
PROVISIONS
Taxation including deferred tax
25,092
14,675
----------
----------
NET ASSETS
384,423
258,256
----------
----------
A R P SECURITY SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
384,323
258,156
----------
----------
SHAREHOLDERS FUNDS
384,423
258,256
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
A. R. Pearson
Director
Company registration number: 01806089
A R P SECURITY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England. The address of the registered office is 31 Edwards Road, Pye Nest, Halifax, HX2 7DG.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Alterations to leasehold property
-
10% straight line
Plant and machinery
-
10% straight line
Fixtures and fittings
-
10% straight line
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants receivable relating to Covid-19 are accounted for under the accrual method and recognised immediately as income in the Statement of Income and Retained Earnings. Where applied for and received these grants include payments under the Coronavirus Job Retention Scheme (furlough payments), Small Business Grant and interest paid by the Government during the first 12 months of Bounce Bank Loans. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account. The company also contributes to the director's individual self invested personal pension scheme.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 16 (2022: 16 ).
5. TANGIBLE ASSETS
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
69,760
15,355
26,697
154,103
265,915
Additions
1,573
571
72,564
74,708
Disposals
( 42,139)
( 42,139)
---------
---------
---------
----------
----------
At 31 March 2023
69,760
16,928
27,268
184,528
298,484
---------
---------
---------
----------
----------
Depreciation
At 1 April 2022
6,976
10,613
15,812
105,556
138,957
Charge for the year
6,976
1,332
1,310
15,963
25,581
Disposals
( 34,981)
( 34,981)
---------
---------
---------
----------
----------
At 31 March 2023
13,952
11,945
17,122
86,538
129,557
---------
---------
---------
----------
----------
Carrying amount
At 31 March 2023
55,808
4,983
10,146
97,990
168,927
---------
---------
---------
----------
----------
At 31 March 2022
62,784
4,742
10,885
48,547
126,958
---------
---------
---------
----------
----------
6. DEBTORS
2023
2022
£
£
Trade debtors
97,756
71,521
Other debtors
309,478
264,777
----------
----------
407,234
336,298
----------
----------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
18,182
18,182
Trade creditors
49,983
43,755
Corporation tax
79,432
38,450
Social security and other taxes
38,003
73,369
Other creditors
127,438
125,242
----------
----------
313,038
298,998
----------
----------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
40,909
58,314
---------
---------
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
2,086
1,055
-------
-------
10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The directors loan account was in credit throughout the year. The loan is repayable on demand and no interest is charged.
11. RELATED PARTY TRANSACTIONS
At the year-end a loan was outstanding with Pearson Estates (West Yorkshire) Limited amounting to £101,000 (2022 - £101,000), which was unsecured, interest free and repayable on demand. That company is under the control of the directors of this company.