DOYLE SECURITY LTD
Registered number: 07806296
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 197,423 184,660
Current assets
Stocks 4,000 3,980
Debtors 4 731,727 890,267
Cash at bank and in hand 776,909 687,395
1,512,636 1,581,642
Creditors: amounts falling due within one year 5 (528,679) (535,835)
Net current assets 983,957 1,045,807
Total assets less current liabilities 1,181,380 1,230,467
Provisions for liabilities (5,666) (10,842)
Net assets 1,175,714 1,219,625
Capital and reserves
Called up share capital 8 4
Profit and loss account 1,175,706 1,219,621
Shareholders' funds 1,175,714 1,219,625
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G F Doyle
Director
Approved by the board on 18 January 2024
DOYLE SECURITY LTD
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 25% straight line
Office equipment 20% reducing balance
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 is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 150 210
3 Tangible fixed assets
Computer equipment Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 15,800 182,879 207,268 405,947
Additions 2,607 8,226 91,183 102,016
Disposals - - (46,250) (46,250)
At 31 October 2023 18,407 191,105 252,201 461,713
Depreciation
At 1 November 2022 13,716 102,847 104,724 221,287
Charge for the year 4,601 17,652 42,242 64,495
On disposals - - (21,492) (21,492)
At 31 October 2023 18,317 120,499 125,474 264,290
Net book value
At 31 October 2023 90 70,606 126,727 197,423
At 31 October 2022 2,084 80,032 102,544 184,660
4 Debtors 2023 2022
£ £
Trade debtors 708,963 867,078
Other debtors 22,764 23,189
731,727 890,267
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 114,920 123,829
Corporation tax 70,234 22,620
Other taxes and social security costs 272,956 315,769
Other creditors 70,569 73,617
528,679 535,835
6 Other information
DOYLE SECURITY LTD is a private company limited by shares and incorporated in England. Its registered office is:
105 Redbrook Road
Barnsley
South Yorkshire
S75 2RG
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