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REGISTERED NUMBER: 01406952 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

H. V. P. SECURITY SHUTTERS LIMITED

H. V. P. SECURITY SHUTTERS LIMITED (REGISTERED NUMBER: 01406952)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


H. V. P. SECURITY SHUTTERS LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: T J Keating
A S Keating
N Addicott





SECRETARY: A S Keating





REGISTERED OFFICE: Westward Centre
4 Grace Road West
Marsh Barton Trading Estate
Exeter
Devon
EX2 8PU





REGISTERED NUMBER: 01406952 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
H. V. P. Security Shutters 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 H. V. P. Security Shutters Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 H. V. P. Security Shutters 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 H. V. P. Security Shutters Limited and state those matters that we have agreed to state to the Board of Directors of H. V. P. Security Shutters 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 H. V. P. Security Shutters Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that H. V. P. Security Shutters 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 H. V. P. Security Shutters Limited. You consider that H. V. P. Security Shutters 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 H. V. P. Security Shutters 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.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


30 July 2024

H. V. P. SECURITY SHUTTERS LIMITED (REGISTERED NUMBER: 01406952)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,195 28,582

CURRENT ASSETS
Stocks 25,040 28,458
Debtors 5 250,063 332,897
Cash at bank and in hand 139,858 30,028
414,961 391,383
CREDITORS
Amounts falling due within one year 6 339,820 312,888
NET CURRENT ASSETS 75,141 78,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

135,336

107,077

CREDITORS
Amounts falling due after more than one
year

7

(27,667

)

(24,667

)

PROVISIONS FOR LIABILITIES 9 (8,577 ) (3,871 )
NET ASSETS 99,092 78,539

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 98,992 78,439
SHAREHOLDERS' FUNDS 99,092 78,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

H. V. P. SECURITY SHUTTERS LIMITED (REGISTERED NUMBER: 01406952)

Balance Sheet - continued
31 March 2024


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 26 July 2024 and were signed on its behalf by:





A S Keating - Director


H. V. P. SECURITY SHUTTERS LIMITED (REGISTERED NUMBER: 01406952)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

H. V. P. Security Shutters Limited is a private company, limited by shares , registered in England and Wales. 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.

Critical accounting estimates and uncertainties
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Turnover
Turnover represents net invoiced manufacture, supply and installation of security shutters and grills, excluding value added tax. Turnover is recognised when the service is rendered and when goods are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Office equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


H. V. P. SECURITY SHUTTERS LIMITED (REGISTERED NUMBER: 01406952)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 15 (2023 - 14 ) .

H. V. P. SECURITY SHUTTERS LIMITED (REGISTERED NUMBER: 01406952)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and Office and Motor
machinery equipment fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 41,654 12,918 24,980 61,423 140,975
Additions - - - 41,452 41,452
Disposals - - - (14,783 ) (14,783 )
At 31 March 2024 41,654 12,918 24,980 88,092 167,644
DEPRECIATION
At 1 April 2023 37,072 8,693 24,467 42,161 112,393
Charge for year 1,145 631 77 5,355 7,208
Eliminated on disposal - - - (12,152 ) (12,152 )
At 31 March 2024 38,217 9,324 24,544 35,364 107,449
NET BOOK VALUE
At 31 March 2024 3,437 3,594 436 52,728 60,195
At 31 March 2023 4,582 4,225 513 19,262 28,582


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 79,757 65,253
Other debtors 170,306 267,644
250,063 332,897

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 19,000 7,162
Trade creditors 105,710 113,796
Taxation and social security 46,895 100,936
Other creditors 158,215 80,994
339,820 312,888

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,667 21,667
Hire purchase contracts 16,000 3,000
27,667 24,667

Included in bank loans is a government supported bounce back loan.

H. V. P. SECURITY SHUTTERS LIMITED (REGISTERED NUMBER: 01406952)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. SECURED DEBTS

The hire purchase contracts are secured on the relevant assets.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 8,577 3,871

Deferred
tax
£   
Balance at 1 April 2023 3,871
Accelerated capital allowances 4,706
Balance at 31 March 2024 8,577

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the directors owed the company £53,687 (2023: £176,410). During the year £43,213 (2023: £384,177) was advanced and £165,936 (2023: £232,608) was repaid.