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REGISTERED NUMBER: SC382879 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Security and Fire Equipment Services Ltd

Security and Fire Equipment Services Ltd (Registered number: SC382879)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Security and Fire Equipment Services Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mrs H Millar
G Millar
M Millar





REGISTERED OFFICE: Unit 6
Duke Street
Galashiels
Selkirkshire
TD1 1QD





REGISTERED NUMBER: SC382879 (Scotland)





ACCOUNTANTS: Douglas Home & Co Ltd
Chartered Accountants
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

Security and Fire Equipment Services Ltd (Registered number: SC382879)

Balance Sheet
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,070 8,080
Property, plant and equipment 5 108,481 95,292
115,551 103,372

CURRENT ASSETS
Inventories 105,577 131,866
Debtors 6 117,626 157,336
Cash at bank and in hand 586,794 588,154
809,997 877,356
CREDITORS
Amounts falling due within one year 7 189,158 282,774
NET CURRENT ASSETS 620,839 594,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

736,390

697,954

CREDITORS
Amounts falling due after more than one
year

8

(13,102

)

(11,036

)

PROVISIONS FOR LIABILITIES (18,500 ) (15,500 )
NET ASSETS 704,788 671,418

CAPITAL AND RESERVES
Called up share capital 18 18
Retained earnings 704,770 671,400
SHAREHOLDERS' FUNDS 704,788 671,418

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

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

Security and Fire Equipment Services Ltd (Registered number: SC382879)

Balance Sheet - continued
31 October 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:





G Millar - Director


Security and Fire Equipment Services Ltd (Registered number: SC382879)

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

1. STATUTORY INFORMATION

Security and Fire Equipment Services Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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
Revenue 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 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Inventories 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 inventories to their present location and condition.

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 14 (2022 - 14 ) .

Security and Fire Equipment Services Ltd (Registered number: SC382879)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 20,200
AMORTISATION
At 1 November 2022 12,120
Amortisation for year 1,010
At 31 October 2023 13,130
NET BOOK VALUE
At 31 October 2023 7,070
At 31 October 2022 8,080

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 9,948 3,529 9,198
Additions - - -
Disposals - - -
At 31 October 2023 9,948 3,529 9,198
DEPRECIATION
At 1 November 2022 - 3,016 7,386
Charge for year - 76 284
Eliminated on disposal - - -
At 31 October 2023 - 3,092 7,670
NET BOOK VALUE
At 31 October 2023 9,948 437 1,528
At 31 October 2022 9,948 513 1,812

Security and Fire Equipment Services Ltd (Registered number: SC382879)

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

5. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 101,478 17,198 141,351
Additions 73,308 - 73,308
Disposals (46,845 ) - (46,845 )
At 31 October 2023 127,941 17,198 167,814
DEPRECIATION
At 1 November 2022 24,377 11,280 46,059
Charge for year 25,574 1,767 27,701
Eliminated on disposal (14,427 ) - (14,427 )
At 31 October 2023 35,524 13,047 59,333
NET BOOK VALUE
At 31 October 2023 92,417 4,151 108,481
At 31 October 2022 77,101 5,918 95,292

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 117,626 146,462
Directors' current accounts - 10,874
117,626 157,336

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Hire purchase contracts 13,900 14,404
Trade creditors 68,904 86,118
Tax 26,942 49,302
Social security and other taxes 5,154 5,069
VAT 51,655 85,554
Other creditors 4,684 7,175
Directors' current accounts 16,569 33,835
Accrued expenses 1,350 1,317
189,158 282,774

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/23 31/10/22
£    £   
Hire purchase contracts 13,102 11,036

Security and Fire Equipment Services Ltd (Registered number: SC382879)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

These loans are interest free and have no fixed term.