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Registration number: 07494240

Guardian Security (GB) Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Guardian Security (GB) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Guardian Security (GB) Ltd

Company Information

Directors

Mr Alan Fowler

Mr Nicholas Nelson

Registered office

Unit 14 Kenn Court Business Park
Roman Farm Road
Bristol
BS4 1UL

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Guardian Security (GB) Ltd

(Registration number: 07494240)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

         

Fixed assets

   

Tangible assets

4

 

106,123

37,393

Current assets

   

Stocks

5

247,360

 

248,926

Debtors

6

128,300

 

151,791

Cash at bank and in hand

 

10,842

 

7,513

 

386,502

 

408,230

Creditors: Amounts falling due within one year

7

(288,784)

 

(284,256)

Net current assets

   

97,718

123,974

Total assets less current liabilities

   

203,841

161,367

Creditors: Amounts falling due after more than one year

7

 

(44,326)

(24,058)

Provisions for liabilities

 

(3,218)

(2,623)

Net assets

   

156,297

134,686

Capital and reserves

   

Called up share capital

100

 

100

Profit and loss account

156,197

 

134,586

Total equity

   

156,297

134,686

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 April 2024 and signed on its behalf by:
 

 

Guardian Security (GB) Ltd

(Registration number: 07494240)
Balance Sheet as at 31 January 2024

.........................................

Mr Alan Fowler
Director

.........................................

Mr Nicholas Nelson
Director

 

Guardian Security (GB) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 14 Kenn Court Business Park
Roman Farm Road
Bristol
BS4 1UL

These financial statements were authorised for issue by the Board on 10 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Guardian Security (GB) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

10% Reducing Balance

Motor Vehicles

15% Reducing Balance

Plant & Machinery

15% Reducing Balance

Computer Equipment

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Guardian Security (GB) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Guardian Security (GB) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

 

Guardian Security (GB) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 February 2023

17,476

42,534

31,994

25,923

Additions

-

-

1,013

84,763

At 31 January 2024

17,476

42,534

33,007

110,686

Depreciation

At 1 February 2023

17,476

17,394

25,101

20,563

Charge for the year

-

5,001

2,258

9,787

At 31 January 2024

17,476

22,395

27,359

30,350

Carrying amount

At 31 January 2024

-

20,139

5,648

80,336

At 31 January 2023

-

25,140

6,893

5,360

Total
£

Cost or valuation

At 1 February 2023

117,927

Additions

85,776

At 31 January 2024

203,703

Depreciation

At 1 February 2023

80,534

Charge for the year

17,046

At 31 January 2024

97,580

Carrying amount

At 31 January 2024

106,123

At 31 January 2023

37,393

5

Stocks

2024
£

2023
£

Other inventories

247,360

248,926

 

Guardian Security (GB) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

121,867

144,370

Prepayments

5,847

6,835

Other debtors

586

586

 

128,300

151,791

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

31,839

18,490

Trade creditors

 

124,095

118,372

Taxation and social security

 

21,998

23,108

Accruals and deferred income

 

933

933

Other creditors

 

109,919

123,353

 

288,784

284,256

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

44,326

24,058