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Company registration number: 10379040
Future CCTV and Security Systems Limited
Unaudited filleted financial statements
30 September 2024
Future CCTV and Security Systems Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Future CCTV and Security Systems Limited
Directors and other information
Directors G Norman
Company number 10379040
Registered office 41 Pant-Y-Celyn Road
Penarth
CF64 2PF
Accountants Beverley & Williams Accountants Ltd
Unit A St Davids House
Feeder Row
Cwmcarn
Newport, Gwent
NP11 7ED
Future CCTV and Security Systems Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 4,163 6,161
_______ _______
4,163 6,161
Current assets
Stocks 1,250 2,570
Debtors 6 7,086 3,178
Cash at bank and in hand 20,658 10,765
_______ _______
28,994 16,513
Creditors: amounts falling due
within one year 7 ( 17,394) ( 9,342)
_______ _______
Net current assets 11,600 7,171
_______ _______
Total assets less current liabilities 15,763 13,332
Provisions for liabilities ( 355) ( 536)
_______ _______
Net assets 15,408 12,796
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 15,407 12,795
_______ _______
Shareholders funds 15,408 12,796
_______ _______
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
G Norman
Director
Company registration number: 10379040
Future CCTV and Security Systems Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 41 Pant-Y-Celyn Road, Penarth, CF64 2PF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 2 ).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 October 2023 and 30 September 2024 1,400 9,991 11,391
_______ _______ _______
Depreciation
At 1 October 2023 1,400 3,830 5,230
Charge for the year - 1,998 1,998
_______ _______ _______
At 30 September 2024 1,400 5,828 7,228
_______ _______ _______
Carrying amount
At 30 September 2024 - 4,163 4,163
_______ _______ _______
At 30 September 2023 - 6,161 6,161
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 6,340 2,372
Other debtors 746 806
_______ _______
7,086 3,178
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 2,906 498
Corporation tax 10,155 5,770
Social security and other taxes 3,039 1,451
Other creditors 1,294 1,623
_______ _______
17,394 9,342
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
G Norman ( 373) 38,329 ( 38,000) ( 44)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
G Norman ( 2,007) 34,134 ( 32,500) ( 373)
_______ _______ _______ _______
9. Controlling party
The company is under the control of the director.