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IDS Security Systems Limited

Financial Statements for the Year Ended 30 September 2023






IDS Security Systems Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: J P Horan
A C Saltmarshe
Garan Instruments Limited





SECRETARY: A C Saltmarshe





REGISTERED OFFICE: Unit 16E
Moy Road Industrial Estate
Taffs Well
Cardiff
CF15 7QR





REGISTERED NUMBER: 03228234 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
IDS Security Systems Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of IDS Security Systems Limited for the year ended 30 September 2023 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of IDS Security Systems Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of IDS Security Systems Limited and state those matters that we have agreed to state to the Board of Directors of IDS Security Systems Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IDS Security Systems Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that IDS Security Systems Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IDS Security Systems Limited. You consider that IDS Security Systems Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of IDS Security Systems Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


16 February 2024

IDS Security Systems Limited (Registered number: 03228234)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 108,142 71,612

CURRENT ASSETS
Stocks 68,834 123,954
Debtors 4 153,880 211,939
Cash at bank and in hand 447,553 419,410
670,267 755,303
CREDITORS
Amounts falling due within one year 5 380,171 433,938
NET CURRENT ASSETS 290,096 321,365
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,238

392,977

CREDITORS
Amounts falling due after more than
one year

6

(16,667

)

(29,635

)

PROVISIONS FOR DEFERRED TAX (15,100 ) (12,400 )
NET ASSETS 366,471 350,942

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 366,469 350,940
SHAREHOLDERS' FUNDS 366,471 350,942

IDS Security Systems Limited (Registered number: 03228234)

Balance Sheet - continued
30 September 2023


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

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

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by:





J P Horan - Director


IDS Security Systems Limited (Registered number: 03228234)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. 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.

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% straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 20% reducing balance
Computer equipment - 25% straight line

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

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.

IDS Security Systems Limited (Registered number: 03228234)

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


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 13,400 21,731 110,024 39,369 184,524
Additions - - 53,100 2,672 55,772
At 30 September 2023 13,400 21,731 163,124 42,041 240,296
DEPRECIATION
At 1 October 2022 13,400 21,240 42,674 35,598 112,912
Charge for year - 85 17,427 1,730 19,242
At 30 September 2023 13,400 21,325 60,101 37,328 132,154
NET BOOK VALUE
At 30 September 2023 - 406 103,023 4,713 108,142
At 30 September 2022 - 491 67,350 3,771 71,612

IDS Security Systems Limited (Registered number: 03228234)

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


4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 143,273 202,659
Other debtors & prepayments 10,607 9,280
153,880 211,939

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts - 3,939
Trade creditors 158,587 173,746
Amounts owed to group undertakings 132,277 133,137
Taxes & social security costs 71,105 107,419
Other creditors & accruals 8,202 5,697
380,171 433,938

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 16,667 26,667
Hire purchase contracts - 2,968
16,667 29,635

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 6,907

The hire purchase contracts are secured over the assets to which they relate.