Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falsePrivate security for functions23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05196325 2022-12-01 2023-11-30 05196325 2021-12-01 2022-11-30 05196325 2023-11-30 05196325 2022-11-30 05196325 c:Director1 2022-12-01 2023-11-30 05196325 d:CurrentFinancialInstruments 2023-11-30 05196325 d:CurrentFinancialInstruments 2022-11-30 05196325 d:Non-currentFinancialInstruments 2023-11-30 05196325 d:Non-currentFinancialInstruments 2022-11-30 05196325 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 05196325 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 05196325 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 05196325 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 05196325 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 05196325 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 05196325 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 05196325 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 05196325 d:ShareCapital 2023-11-30 05196325 d:ShareCapital 2022-11-30 05196325 d:RetainedEarningsAccumulatedLosses 2023-11-30 05196325 d:RetainedEarningsAccumulatedLosses 2022-11-30 05196325 c:FRS102 2022-12-01 2023-11-30 05196325 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 05196325 c:FullAccounts 2022-12-01 2023-11-30 05196325 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05196325 2 2022-12-01 2023-11-30 05196325 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 05196325









FUNCTION SECURITY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
FUNCTION SECURITY LIMITED
REGISTERED NUMBER: 05196325

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
1,070
5,288

Cash at bank and in hand
 6 
4,041
128

  
5,111
5,416

Creditors: amounts falling due within one year
 7 
(19,718)
(10,582)

Net current liabilities
  
 
 
(14,607)
 
 
(5,166)

Total assets less current liabilities
  
(14,607)
(5,166)

Creditors: amounts falling due after more than one year
 8 
(3,683)
(5,383)

  

Net liabilities
  
(18,290)
(10,549)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(18,390)
(10,649)

  
(18,290)
(10,549)


Page 1

 
FUNCTION SECURITY LIMITED
REGISTERED NUMBER: 05196325
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Tidey
Director

Date: 1 March 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FUNCTION SECURITY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Function Security Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that
the company has adequate resources to continue in operational existence for the foreseeable future.
Therefore, the directors have adopted the going concern basis of accounting in preparing the
financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
FUNCTION SECURITY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 3).



5.


Debtors

2023
2022
£
£


Trade debtors
-
5,288

Prepayments and accrued income
1,070
-

1,070
5,288


Page 4

 
FUNCTION SECURITY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
4,041
128

4,041
128



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
1,701
1,700

Trade creditors
647
43

Other taxation and social security
213
2,269

Other creditors
15,657
5,703

Accruals and deferred income
1,500
867

19,718
10,582



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
3,683
5,383

3,683
5,383


Page 5

 
FUNCTION SECURITY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
1,701
1,700


1,701
1,700

Amounts falling due 1-2 years

Bank loans
1,700
1,700


1,700
1,700

Amounts falling due 2-5 years

Bank loans
1,983
3,683


1,983
3,683


5,384
7,083



10.


Related party transactions

In other creditors there is a Director's loan of £15,657 (2022: £5,369) provided to the company. Interest of 0% is paid on this loan and it is repayable on demand.  

 
Page 6