Silverfin false false 31/03/2024 01/04/2023 31/03/2024 L K Blair 20/03/2002 N Cullimore 12/01/2024 M L Muxlow 20/03/2002 M S Muxlow 20/03/2002 S M Muxlow 20/03/2002 30 September 2024 The principal activity of the Company during the financial year was that of security and alarm systems installation and maintenance. 04399536 2024-03-31 04399536 bus:Director1 2024-03-31 04399536 bus:Director2 2024-03-31 04399536 bus:Director3 2024-03-31 04399536 bus:Director4 2024-03-31 04399536 bus:Director5 2024-03-31 04399536 2023-03-31 04399536 core:CurrentFinancialInstruments 2024-03-31 04399536 core:CurrentFinancialInstruments 2023-03-31 04399536 core:Non-currentFinancialInstruments 2024-03-31 04399536 core:Non-currentFinancialInstruments 2023-03-31 04399536 core:ShareCapital 2024-03-31 04399536 core:ShareCapital 2023-03-31 04399536 core:RetainedEarningsAccumulatedLosses 2024-03-31 04399536 core:RetainedEarningsAccumulatedLosses 2023-03-31 04399536 core:LandBuildings 2023-03-31 04399536 core:PlantMachinery 2023-03-31 04399536 core:Vehicles 2023-03-31 04399536 core:FurnitureFittings 2023-03-31 04399536 core:OfficeEquipment 2023-03-31 04399536 core:LandBuildings 2024-03-31 04399536 core:PlantMachinery 2024-03-31 04399536 core:Vehicles 2024-03-31 04399536 core:FurnitureFittings 2024-03-31 04399536 core:OfficeEquipment 2024-03-31 04399536 2023-04-01 2024-03-31 04399536 bus:FilletedAccounts 2023-04-01 2024-03-31 04399536 bus:SmallEntities 2023-04-01 2024-03-31 04399536 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04399536 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04399536 bus:Director1 2023-04-01 2024-03-31 04399536 bus:Director2 2023-04-01 2024-03-31 04399536 bus:Director3 2023-04-01 2024-03-31 04399536 bus:Director4 2023-04-01 2024-03-31 04399536 bus:Director5 2023-04-01 2024-03-31 04399536 core:LandBuildings core:TopRangeValue 2023-04-01 2024-03-31 04399536 core:PlantMachinery 2023-04-01 2024-03-31 04399536 core:Vehicles core:TopRangeValue 2023-04-01 2024-03-31 04399536 core:FurnitureFittings core:TopRangeValue 2023-04-01 2024-03-31 04399536 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 04399536 2022-04-01 2023-03-31 04399536 core:LandBuildings 2023-04-01 2024-03-31 04399536 core:Vehicles 2023-04-01 2024-03-31 04399536 core:FurnitureFittings 2023-04-01 2024-03-31 04399536 core:OfficeEquipment 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 04399536 (England and Wales)

SECURITY & ELECTRICAL SERVICES (YEOVIL) LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

SECURITY & ELECTRICAL SERVICES (YEOVIL) LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

SECURITY & ELECTRICAL SERVICES (YEOVIL) LTD

BALANCE SHEET

As at 31 March 2024
SECURITY & ELECTRICAL SERVICES (YEOVIL) LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 207,995 125,520
207,995 125,520
Current assets
Stocks 4 59,122 66,343
Debtors 5 374,166 398,418
Cash at bank and in hand 6 132,585 90,901
565,873 555,662
Creditors: amounts falling due within one year 7 ( 316,199) ( 253,693)
Net current assets 249,674 301,969
Total assets less current liabilities 457,669 427,489
Creditors: amounts falling due after more than one year 8 ( 63,994) ( 43,306)
Provision for liabilities ( 30,133) ( 16,415)
Net assets 363,542 367,768
Capital and reserves
Called-up share capital 100 100
Profit and loss account 363,442 367,668
Total shareholder's funds 363,542 367,768

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Security & Electrical Services (Yeovil) Ltd (registered number: 04399536) were approved and authorised for issue by the Board of Directors on 30 September 2024. They were signed on its behalf by:

L K Blair
Director
SECURITY & ELECTRICAL SERVICES (YEOVIL) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
SECURITY & ELECTRICAL SERVICES (YEOVIL) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

Security & Electrical Services (Yeovil) Ltd (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 Security House, 3 Oxford Road, Pen Mill Trading Estate, Yeovil, BA21 5HR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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.

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

Turnover

Turnover comprises the fair value of the consideration received or receivable for security and alarm systems installation and maintenance in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Maintenance contract income is recognised on receipt.

Amounts recoverable on contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 years straight line
Plant and machinery 20 % reducing balance
Vehicles 5 years straight line
Fixtures and fittings 6.67 years straight line
Office equipment 3 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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 includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 31 30

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 April 2023 3,918 26,371 368,409 27,106 35,438 461,242
Additions 0 1,047 108,636 2,030 15,260 126,973
Disposals 0 0 ( 53,514) 0 0 ( 53,514)
At 31 March 2024 3,918 27,418 423,531 29,136 50,698 534,701
Accumulated depreciation
At 01 April 2023 3,918 21,405 251,687 25,095 33,617 335,722
Charge for the financial year 0 1,100 40,742 699 1,957 44,498
Disposals 0 0 ( 53,514) 0 0 ( 53,514)
At 31 March 2024 3,918 22,505 238,915 25,794 35,574 326,706
Net book value
At 31 March 2024 0 4,913 184,616 3,342 15,124 207,995
At 31 March 2023 0 4,966 116,722 2,011 1,821 125,520

4. Stocks

2024 2023
£ £
Finished goods 59,122 66,343

5. Debtors

2024 2023
£ £
Trade debtors 336,403 321,284
Other debtors 37,763 77,134
374,166 398,418

6. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 132,585 90,901

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 116,244 83,407
Taxation and social security 134,380 133,027
Obligations under finance leases and hire purchase contracts 43,551 12,276
Other creditors 22,024 24,983
316,199 253,693

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 63,994 43,306

9. Related party transactions

Transactions with the entity's directors

Advances

The Director's loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2023, the balance was £nil (2023: £2,646). During the year, £nil (2023: £2,688) was advanced to the director, and £nil (2023: £5,334) was repaid by the director. The balance at 31 March 2024 was £nil (2023: £nil).

10. Ultimate controlling party

Parent Company:

Secure Holdings (Yeovil) Limited
Security House, 3 Oxford Road, Pen Mill Trading Estate, Yeovil, Somerset, BA21 5HR, United Kingdom