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REGISTERED NUMBER: 08468383 (England and Wales)



Financial Statements for the Year Ended 31 July 2023

for

Bates Alarms Limited

Bates Alarms Limited (Registered number: 08468383)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


Bates Alarms Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: Mr S Bates
Mrs S A Bates





REGISTERED OFFICE: 1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ





REGISTERED NUMBER: 08468383 (England and Wales)





ACCOUNTANTS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Bates Alarms Limited (Registered number: 08468383)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 299,328 318,528
Tangible assets 5 211,711 241,563
511,039 560,091

CURRENT ASSETS
Stocks 6 15,100 31,350
Debtors 7 136,929 93,281
Cash at bank 50 50
152,079 124,681
CREDITORS
Amounts falling due within one year 8 (626,462 ) (630,812 )
NET CURRENT LIABILITIES (474,383 ) (506,131 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,656

53,960

CREDITORS
Amounts falling due after more than one year 9 (35,101 ) (53,511 )
NET ASSETS 1,555 449

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 13 1,553 447
SHAREHOLDERS' FUNDS 1,555 449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Bates Alarms Limited (Registered number: 08468383)

Statement of Financial Position - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by:





Mr S Bates - Director


Bates Alarms Limited (Registered number: 08468383)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. STATUTORY INFORMATION

Bates Alarms 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 2014, is being amortised evenly over its estimated useful life of twenty five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Income Statement, 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 statement of financial position date.


Bates Alarms Limited (Registered number: 08468383)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 statement of financial position 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.

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 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 480,000
AMORTISATION
At 1 August 2022 161,472
Amortisation for year 19,200
At 31 July 2023 180,672
NET BOOK VALUE
At 31 July 2023 299,328
At 31 July 2022 318,528

Bates Alarms Limited (Registered number: 08468383)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


5. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 August 2022
and 31 July 2023 69,531 56,990 89,646
DEPRECIATION
At 1 August 2022 - - 75,809
Charge for year - - 3,459
At 31 July 2023 - - 79,268
NET BOOK VALUE
At 31 July 2023 69,531 56,990 10,378
At 31 July 2022 69,531 56,990 13,837

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 172,147 15,333 403,647
DEPRECIATION
At 1 August 2022 76,885 9,390 162,084
Charge for year 23,815 2,578 29,852
At 31 July 2023 100,700 11,968 191,936
NET BOOK VALUE
At 31 July 2023 71,447 3,365 211,711
At 31 July 2022 95,262 5,943 241,563

6. STOCKS
31.7.23 31.7.22
£    £   
Stocks 15,100 31,350

Bates Alarms Limited (Registered number: 08468383)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 54,289 74,151
Directors' current accounts 80,539 17,853
Prepayments 2,101 1,277
136,929 93,281

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Credit Card 8,147 2,378
Hire purchase contracts (see note 10) 18,410 18,410
Payments on account 361,772 307,572
Trade creditors 89,131 112,116
Credit card (Visa) 1,976 3,938
Net Wages 15,239 16,272
American express 9,630 21,496
Tax 78,532 46,763
Social security and other taxes 5,127 4,331
Pension 1,072 870
VAT 37,426 95,341
Other creditor - 1,325
626,462 630,812

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts (see note 10) 35,101 53,511

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.7.23 31.7.22
£    £   
Net obligations repayable:
Within one year 18,410 18,410
Between one and five years 35,101 53,511
53,511 71,921

Bates Alarms Limited (Registered number: 08468383)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


11. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase contracts 53,511 71,921

The hire purchse debts are secured against the assets.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
2 Ordinary £1 2 2

13. RESERVES
Retained
earnings
£   

At 1 August 2022 447
Profit for the year 65,106
Dividends (64,000 )
At 31 July 2023 1,553

14. RELATED PARTY DISCLOSURES

Included in debtors is a balance owed by the directors to the company of £80,539 (2022:£17,853).
Interest was charged on the loans at the official rate totalling £709 ((2022:nil) and the loans were repaid within 9 months of the year end.

15. ULTIMATE CONTROLLING PARTY

The company was under the control throughout the current and pervious year by its directors by virtue of their shareholdings.