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REGISTERED NUMBER: 05454802 (England and Wales)















CODE SECURITY SYSTEMS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024






CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CODE SECURITY SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr J A Oliver
Mrs S A Oliver





SECRETARY: Mrs S A Oliver





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 05454802 (England and Wales)





ACCOUNTANTS: Kounnis And Partners Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

30.4.24 30.4.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 270,676 307,165

CURRENT ASSETS
Stocks 133,252 167,282
Debtors 5 463,731 794,125
Cash at bank and in hand 113,572 310,142
710,555 1,271,549
CREDITORS
Amounts falling due within one year 6 (336,707 ) (642,531 )
NET CURRENT ASSETS 373,848 629,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

644,524

936,183

CREDITORS
Amounts falling due after more than one
year

7

(116,371

)

(138,790

)

PROVISIONS FOR LIABILITIES (7,824 ) (18,892 )
NET ASSETS 520,329 778,501

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 9 60,448 60,448
Retained earnings 449,881 708,053
SHAREHOLDERS' FUNDS 520,329 778,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2024


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 8 November 2024 and were signed on its behalf by:





Mr J A Oliver - Director


CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Code Security Systems Limited 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 15% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 22 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023 300,000 139,445 32,374 71,465 543,284
Additions - - - 958 958
At 30 April 2024 300,000 139,445 32,374 72,423 544,242
DEPRECIATION
At 1 May 2023 58,598 93,749 27,192 56,580 236,119
Charge for year 6,000 17,123 1,866 12,458 37,447
At 30 April 2024 64,598 110,872 29,058 69,038 273,566
NET BOOK VALUE
At 30 April 2024 235,402 28,573 3,316 3,385 270,676
At 30 April 2023 241,402 45,696 5,182 14,885 307,165

Cost or valuation at 30 April 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 68,400 - 68,400
Cost 231,600 244,242 475,842
300,000 244,242 544,242

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 May 2023 82,017
Transfer to ownership (21,796 )
At 30 April 2024 60,221
DEPRECIATION
At 1 May 2023 32,171
Charge for year 9,033
Transfer to ownership (9,808 )
At 30 April 2024 31,396
NET BOOK VALUE
At 30 April 2024 28,825
At 30 April 2023 49,846

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 422,750 744,412
Other debtors 40,981 49,713
463,731 794,125

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 27,491 26,550
Hire purchase contracts 9,518 12,489
Trade creditors 184,151 367,371
Taxation and social security 72,664 89,949
Other creditors 42,883 146,172
336,707 642,531

CODE SECURITY SYSTEMS LIMITED (REGISTERED NUMBER: 05454802)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 112,321 125,222
Hire purchase contracts 4,050 13,568
116,371 138,790

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 61,579 74,480

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank overdrafts 15,055 15,007
Bank loans 124,757 136,765
Hire purchase contracts 13,568 26,057
153,380 177,829

The bank loan is secured by a fixed and floating charge over all of the assets of the company.

9. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 60,448

10. CONTROLLING PARTY

The company is not under the control of any one person.