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Company No: 03905361 (England and Wales)

BARNSTAPLE SECURITY LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

BARNSTAPLE SECURITY LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

BARNSTAPLE SECURITY LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
BARNSTAPLE SECURITY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Mr G A Forrest Jones
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 03905361 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
BARNSTAPLE SECURITY LIMITED

BALANCE SHEET

As at 31 December 2023
BARNSTAPLE SECURITY LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 4,734 4,075
4,734 4,075
Current assets
Stocks 3,234 3,234
Debtors 4 52,421 43,342
Cash at bank and in hand 10,165 6,880
65,820 53,456
Creditors: amounts falling due within one year 5 ( 22,359) ( 18,989)
Net current assets 43,461 34,467
Total assets less current liabilities 48,195 38,542
Provision for liabilities ( 1,000) ( 1,000)
Net assets 47,195 37,542
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 47,193 37,540
Total shareholder's funds 47,195 37,542

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Barnstaple Security Limited (registered number: 03905361) were approved and authorised for issue by the Director on 16 September 2024. They were signed on its behalf by:

Mr G A Forrest Jones
Director
BARNSTAPLE SECURITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
BARNSTAPLE SECURITY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Barnstaple Security Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The principal place of business is:
Abbeyfield Factory
Braunton Road,
Barnstaple,
Devon,
EX31 1GG

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 20 % reducing balance
Computer equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Tangible assets

Vehicles Computer equipment Total
£ £ £
Cost
At 01 January 2023 8,131 3,914 12,045
Additions 2,830 0 2,830
Disposals ( 4,385) 0 ( 4,385)
At 31 December 2023 6,576 3,914 10,490
Accumulated depreciation
At 01 January 2023 5,207 2,763 7,970
Charge for the financial year 939 173 1,112
Disposals ( 3,326) 0 ( 3,326)
At 31 December 2023 2,820 2,936 5,756
Net book value
At 31 December 2023 3,756 978 4,734
At 31 December 2022 2,924 1,151 4,075

4. Debtors

2023 2022
£ £
Trade debtors 25,157 24,936
Other debtors 27,264 18,406
52,421 43,342

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,479 563
Taxation and social security 16,026 13,893
Other creditors 4,854 4,533
22,359 18,989

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

7. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Director's Loan Account 26,206 17,710

Advances

At 1 January 2023, an amount of £17,710 was outstanding. As at 31st December 2023, the amount outstanding is £26,206 and is repayable on demand. Interest is charged at a rate of 2.5% (2022: 2.25%).