24-7 Security Ltd.
Registered number: 04253263
Statement of Financial Position
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 4,168 4,499
Current assets
Debtors 5 23,460 22,352
Cash at bank and in hand 1,185 920
24,645 23,272
Creditors: amounts falling due within one year 6 (17,035) (11,925)
Net current assets 7,610 11,347
Total assets less current liabilities 11,778 15,846
Creditors: amounts falling due after more than one year 7 (11,774) (16,780)
Net assets/(liabilities) 4 (934)
Capital and reserves
Called up share capital 4 4
Profit and loss account - (938)
Shareholders' funds 4 (934)
The director is 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 director acknowledges her 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 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.
M Riddy
Director
Approved by the board on 1 May 2024
24-7 Security Ltd.
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the 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:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction 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. 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.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 2 2
3 Government grants
The company has received government grants under the coronavirus job retention scheme. These grants are shown in the profit and loss for the period in which the related salary expenditure was incurred.

The company also received a business interruption payment relating to interest payable on a bounce back loan taken out in the period. The grant is shown in the the profit and loss in the period in which the related interest was incurred.
2023 2022
£ £
Grants received under the covid job retention scheme - 863
Business interruption payments - 219
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 5,999
Additions 794
At 31 July 2023 6,793
Depreciation
At 1 August 2022 1,500
Charge for the year 1,125
At 31 July 2023 2,625
Net book value
At 31 July 2023 4,168
At 31 July 2022 4,499
5 Debtors 2023 2022
£ £
Other debtors 23,460 22,352
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,004 5,436
Accruals 1,168 1,114
Corporation tax 8,307 4,651
Other taxes and social security costs - 68
Other creditors 556 656
17,035 11,925
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 3,787 5,793
Obligations under finance lease and hire purchase contracts 7,987 10,987
11,774 16,780
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M Riddy
Repayable on demand 16,992 - 1,021 15,971
16,992 - 1,021 15,971
9 Other information
24-7 Security Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
6 Pine Drive
Blackwater
Surrey
GU17 9BG
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