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Registered number: 04334512
Spectrum Security Services Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Accountant's Report 1
Abridged Balance Sheet 2—3
Notes to the Abridged Financial Statements 4—6
Page 1
Accountant's Report
Chartered Accountant's report to the director on the preparation of the unaudited statutory accounts of Spectrum Security Services Limited for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Spectrum Security Services Limited for the year ended 31 January 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member 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 http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Spectrum Security Services Limited , as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Spectrum Security Services Limited and state those matters that we have agreed to state to the director of Spectrum Security Services Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Spectrum Security Services Limited and its director, as a body, for our work or for this report.
It is your duty to ensure that Spectrum Security Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Spectrum Security Services Limited . You consider that Spectrum Security Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Spectrum Security Services 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 financial statements.
Signed
22/10/2024
Wood & Disney Ltd
Chartered Accountants
Lodge Park, Lodge Lane
Langham
Colchester
Essex
CO4 5NE
Page 1
Page 2
Abridged Balance Sheet
Registered number: 04334512
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 40,000 40,000
Tangible Assets 5 158,175 158,613
198,175 198,613
CURRENT ASSETS
Stocks 45,737 38,200
Debtors 21,143 26,870
Cash at bank and in hand 20 -
66,900 65,070
Creditors: Amounts Falling Due Within One Year (116,109 ) (96,369 )
NET CURRENT ASSETS (LIABILITIES) (49,209 ) (31,299 )
TOTAL ASSETS LESS CURRENT LIABILITIES 148,966 167,314
Creditors: Amounts Falling Due After More Than One Year (114,814 ) (137,963 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,571 ) -
NET ASSETS 31,581 29,351
CAPITAL AND RESERVES
Called up share capital 7 27,001 27,001
Profit and Loss Account 4,580 2,350
SHAREHOLDERS' FUNDS 31,581 29,351
Page 2
Page 3
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 January 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr J Beadles
Director
22/10/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Abridged Financial Statements
1. General Information
Spectrum Security Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04334512 . The registered office is 111 Magdalen Street, Colchester, Essex, CO1 2LF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of nil years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0% Straight Line
Plant & Machinery 33% Straight Line
Motor Vehicles 0% Reducing Balance
Fixtures & Fittings 33% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 4
Page 5
2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 6)
4 6
4. Intangible Assets
Total
£
Cost
As at 1 February 2023 40,000
As at 31 January 2024 40,000
Net Book Value
As at 31 January 2024 40,000
As at 1 February 2023 40,000
5. Tangible Assets
Total
£
Cost
As at 1 February 2023 182,803
As at 31 January 2024 182,803
Depreciation
As at 1 February 2023 24,190
Provided during the period 438
As at 31 January 2024 24,628
Net Book Value
As at 31 January 2024 158,175
As at 1 February 2023 158,613
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles - 25,005
Page 5
Page 6
6. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 2,382 4,539
Later than one year and not later than five years 1,588 3,970
3,970 8,509
3,970 8,509
7. Share Capital
2024 2023
Allotted, called up and fully paid £ £
27,001 Ordinary Shares of £ 1.00 each 27,001 27,001
Page 6