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Registered number: 06547260










NORWICH SECURITY SPECIALISTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
NORWICH SECURITY SPECIALISTS LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 7


 
NORWICH SECURITY SPECIALISTS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NORWICH SECURITY SPECIALISTS LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Norwich Security Specialists Limited for the year ended 31 March 2024 which comprise  the Balance sheet 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 at https://www.icaew.com/regulation.

This report is made solely to the director of Norwich Security Specialists Limited in accordance with the terms of our engagement letter dated 9 June 2020Our work has been undertaken solely to prepare for your approval the financial statements of Norwich Security Specialists Limited and state those matters that we have agreed to state to the director of Norwich Security Specialists Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Norwich Security Specialists Limited and its director for our work or for this report. 

It is your duty to ensure that Norwich Security Specialists 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 Norwich Security Specialists Limited. You consider that Norwich Security Specialists Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Norwich Security Specialists 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.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
 
Date: 
10 September 2024
Page 1

 
NORWICH SECURITY SPECIALISTS LIMITED
REGISTERED NUMBER: 06547260

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
351
570

  
351
570

Current assets
  

Debtors: amounts falling due within one year
 5 
46,750
25,181

Cash at bank and in hand
  
96,947
74,036

  
143,697
99,217

Creditors: amounts falling due within one year
 6 
(93,312)
(56,790)

Net current assets
  
 
 
50,385
 
 
42,427

Total assets less current liabilities
  
50,736
42,997

Provisions for liabilities
  

Deferred tax
  
(70)
(108)

  
 
 
(70)
 
 
(108)

Net assets
  
50,666
42,889


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
  
50,665
42,888

  
50,666
42,889


Page 2

 
NORWICH SECURITY SPECIALISTS LIMITED
REGISTERED NUMBER: 06547260
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr S M Barber
Director

Date: 10 September 2024

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
NORWICH SECURITY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is limited by shares and incorporated in England within the United Kingdom. The address of its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. The principle place of business is Norwich, Norfolk.
The company's principal activity is the provision of security services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Turnover

Turnover is recognised to the extent that it is probable hat the economic benefits will flow to the compan and the turnover can be measured reliably. Turnover is measured as the value of the cash received or receivable, excluding discounts and value added tax. 
Turnover from a contract to provide security services is recognised in the period in which the services are provided and when all of the following conditions can be measured reliably:
- the amount of turnover can be measured reliably;
- it is probable that the company will receive the cash due under the security contract;
- the stage of completion of the contract at the end of the reporting period can be measured      reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & equipment
-
25%
straight line
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
NORWICH SECURITY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.7

Employee benefits

The company operates a defined contribution plan for the benefit of its employees. 

Contributions are expensed as they become payable.

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of timing differences that have originated but 
not reversed by the balance sheet date. 
Current and deferred tax is determined using tax rates and laws that have been enacted or 
substantively enacted by the balance sheet date. 


3.


Employees

The average monthly number of employees, including directors, during the year was 33 (2023 - 35).

Page 5

 
NORWICH SECURITY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant & machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
3,474
792
4,266



At 31 March 2024

3,474
792
4,266



Depreciation


At 1 April 2023
2,904
792
3,696


Charge for the year on owned assets
219
-
219



At 31 March 2024

3,123
792
3,915



Net book value



At 31 March 2024
351
-
351



At 31 March 2023
570
-
570


5.


Debtors

2024
2023
£
£


Trade debtors
39,011
25,181

Prepayments and accrued income
7,739
-

46,750
25,181


Page 6

 
NORWICH SECURITY SPECIALISTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
842
765

Other taxation and social security
46,370
38,087

Other creditors
43,203
15,187

Accruals and deferred income
2,897
2,751

93,312
56,790



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



8.Other financial commitments

As at 31 March 2024, the pension contributions outstanding were £1,110 (2023: £521). These are included in note 6 above.


9.


Transactions with directors

The balance on the director's loan account as at 31 March 2024 was £14,253 (2023: £14,306) owing to the director and is included in other creditors note 6 above.  The loan is interest free and repayable on demand.
 

 
Page 7