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REGISTERED NUMBER: 10518201 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Safeguard Security Systems Ltd

Safeguard Security Systems Ltd (Registered number: 10518201)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Safeguard Security Systems Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: S Blackwell
C M Clifton





REGISTERED OFFICE: Unit 5 Queen Isabelle House
Kingsclere Park
Kingsclere
Newbury
RG20 4SW





REGISTERED NUMBER: 10518201 (England and Wales)





ACCOUNTANTS: BJT Accountants Limited
Wessex House
Upper Market Street
Eastleigh
Hampshire
SO50 9FD

Safeguard Security Systems Ltd (Registered number: 10518201)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63,589 79,807

CURRENT ASSETS
Stocks 9,800 9,850
Debtors 5 107,437 168,273
Cash at bank 219,298 99,524
336,535 277,647
CREDITORS
Amounts falling due within one year 6 171,834 158,004
NET CURRENT ASSETS 164,701 119,643
TOTAL ASSETS LESS CURRENT
LIABILITIES

228,290

199,450

CREDITORS
Amounts falling due after more than
one year

7

20,503

31,686
NET ASSETS 207,787 167,764

CAPITAL AND RESERVES
Called up share capital 102 2
Retained earnings 207,685 167,762
207,787 167,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Safeguard Security Systems Ltd (Registered number: 10518201)

Balance Sheet - continued
31 December 2023


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 24 September 2024 and were signed on its behalf by:




S Blackwell - Director



C M Clifton - Director


Safeguard Security Systems Ltd (Registered number: 10518201)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Safeguard Security Systems Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 20% 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.

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.

Safeguard Security Systems Ltd (Registered number: 10518201)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 72,679 2,052 34,026 10,477 119,234
Additions - - - 374 374
Disposals (220 ) - (652 ) (754 ) (1,626 )
At 31 December 2023 72,459 2,052 33,374 10,097 117,982
DEPRECIATION
At 1 January 2023 18,237 850 15,473 4,867 39,427
Charge for year 10,888 240 3,710 1,197 16,035
Eliminated on disposal (173 ) - (481 ) (415 ) (1,069 )
At 31 December 2023 28,952 1,090 18,702 5,649 54,393
NET BOOK VALUE
At 31 December 2023 43,507 962 14,672 4,448 63,589
At 31 December 2022 54,442 1,202 18,553 5,610 79,807

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 98,120 160,021
Other debtors 9,317 8,252
107,437 168,273

Included within other debtors is £6,992 (2022: £5,927) in respect of prepayments.

Safeguard Security Systems Ltd (Registered number: 10518201)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 47,037 533
Hire purchase contracts (see note 8)
11,183

11,183
Trade creditors 27,229 28,803
Taxation and social security 77,814 83,185
Other creditors 8,571 34,300
171,834 158,004

Included within other creditors is £2,915 (2022: £2,744) in respect of accruals.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts (see note 8)
20,503

31,686

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 11,183 11,183
Between one and five years 20,503 31,686
31,686 42,869

Total amount of commitments guarantees and contingencies is £117,012.