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REGISTERED NUMBER: 02517455 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

STERLING SECURITY SYSTEMS LIMITED

STERLING SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 02517455)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STERLING SECURITY SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: I D Williams
Mrs S E Williams





SECRETARY: Mrs S E Williams





REGISTERED OFFICE: The Old Council Chambers
Halford Street
Tamworth
Stafforshire
B79 7RB





REGISTERED NUMBER: 02517455 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

STERLING SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 02517455)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,938 19,924

CURRENT ASSETS
Stocks 2,285 2,400
Debtors 5 44,606 55,806
Cash at bank 4,981 2,586
51,872 60,792
CREDITORS
Amounts falling due within one year 6 42,879 42,088
NET CURRENT ASSETS 8,993 18,704
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,931

38,628

CREDITORS
Amounts falling due after more than one
year

7

(12,650

)

(22,291

)

PROVISIONS FOR LIABILITIES (2,850 ) (1,200 )
NET ASSETS 8,431 15,137

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 8,429 15,135
SHAREHOLDERS' FUNDS 8,431 15,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Profit and loss account has not been delivered.

STERLING SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 02517455)

BALANCE SHEET - continued
30 NOVEMBER 2023



The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





Mrs S E Williams - Director


STERLING SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 02517455)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Sterling Security Systems 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.

The accounts have been prepared on the going concern basis due to the continuing support of the directors.


Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.


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 - 20% - 33% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at lower of cost using the first in first out method, and estimated selling price less costs to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

3. EMPLOYEES

The average number of employees during the year was 2 (2022 - 2 ) .

STERLING SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 02517455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 7,325 892 23,646 31,863
Disposals - (42 ) - (42 )
At 30 November 2023 7,325 850 23,646 31,821
DEPRECIATION
At 1 December 2022 6,639 866 4,434 11,939
Charge for year 527 27 4,433 4,987
Eliminated on disposal - (43 ) - (43 )
At 30 November 2023 7,166 850 8,867 16,883
NET BOOK VALUE
At 30 November 2023 159 - 14,779 14,938
At 30 November 2022 686 26 19,212 19,924

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 365 4,643
Other debtors 44,241 51,163
44,606 55,806

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,535 4,989
Hire purchase contracts 6,070 5,610
Trade creditors 9,210 6,688
Taxation and social security 5,132 5,798
Other creditors 18,932 19,003
42,879 42,088

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 4,497 9,047
Hire purchase contracts 8,153 13,244
12,650 22,291

STERLING SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 02517455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other debtors is £39,734 (2022 - £47,080) due from the directors. Interest of £735 (2022 - £653) has been charged on amounts due.

Interest has been calculated using the applicable official beneficial loan interest rate and there are no fixed repayment terms.