Registered number
01737169
Southern Security Services Ltd
Unaudited Filleted Accounts
31 December 2023
Southern Security Services Ltd
Registered number: 01737169
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 421,637 428,834
Current assets
Stocks 71,479 60,984
Debtors 4 133,837 129,333
Cash at bank and in hand 198,835 220,515
404,151 410,832
Creditors: amounts falling due within one year 5 (331,129) (340,048)
Net current assets 73,022 70,784
Total assets less current liabilities 494,659 499,618
Creditors: amounts falling due after more than one year 6 (141,662) (159,141)
Provisions for liabilities (18,577) (15,286)
Net assets 334,420 325,191
Capital and reserves
Called up share capital 5,100 5,100
Revaluation reserve 8 43,003 46,443
Profit and loss account 286,317 273,648
Shareholders' funds 334,420 325,191
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 his 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 and delivered 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.
P R Grandjean
Director
Approved by the board on 18 July 2024
Southern Security Services Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents net invoiced sales of goods and services excluding value added tax.
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:
Freehold land and buildings Nil
Plant and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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 (which is usually the invoice 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 10
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 400,000 79,025 112,274 591,299
At 31 December 2023 400,000 79,025 112,274 591,299
Depreciation
At 1 January 2023 - 70,905 91,560 162,465
Charge for the year - 2,016 5,181 7,197
At 31 December 2023 - 72,921 96,741 169,662
Net book value
At 31 December 2023 400,000 6,104 15,533 421,637
At 31 December 2022 400,000 8,120 20,714 428,834
Freehold land and buildings: 2023 2022
£ £
Historical cost 342,663 342,663
Cumulative depreciation based on historical cost - -
342,663 342,663
The freehold land and buildings were revalued by the director at 31 December 2021 at £400,000 based on the current open market value of similar properties in the area.
4 Debtors 2023 2022
£ £
Trade debtors 115,926 112,951
Other debtors 17,911 16,382
133,837 129,333
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 21,563 24,197
Trade creditors 66,894 75,974
Taxation and social security costs 58,625 71,147
Other creditors 184,047 168,730
331,129 340,048
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 141,662 159,141
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 67,814 73,065
Secured bank loans 139,059 149,172
The bank loan is secured by a charge on the freehold property at Unit 5, The Glenmore Centre, Fancy Road, Poole BH12 4FB
8 Revaluation reserve 2023 2022
£ £
At 1 January 2023 46,443 46,443
Deferred taxation arising on the revaluation of land and buildings (3,440) -
At 31 December 2023 43,003 46,443
9 Controlling party
The company is controlled by P R Grandjean by virtue of his majority holding of the issued share capital of the company.
10 Other information
Southern Security Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 5
The Glenmore Centre
Fancy Road
Poole
BH12 4FB
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