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Registration number: 05455843

Tamar Security Limited

Filleted Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Tamar Security Limited
(Registration number: 05455843)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Tamar Security Limited
(Registration number: 05455843)

Company Information

Director

M C Shearer

Registered office

Unit A Ulysses Park
Heron Road
Sowton Industrial Estate
Exeter
Devon
EX2 7PH

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Tamar Security Limited
(Registration number: 05455843)

Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

216,917

177,799

Investments

6

100

100

 

217,017

177,899

Current assets

 

Stocks

7

30,000

30,000

Debtors

8

695,791

655,932

Cash at bank and in hand

 

633,408

602,797

 

1,359,199

1,288,729

Creditors: Amounts falling due within one year

9

(639,340)

(622,945)

Net current assets

 

719,859

665,784

Total assets less current liabilities

 

936,876

843,683

Provisions for liabilities

(53,922)

(44,088)

Net assets

 

882,954

799,595

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

882,854

799,495

Total equity

 

882,954

799,595

 

Tamar Security Limited
(Registration number: 05455843)

Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 10 January 2025
 

.........................................
M C Shearer
Director

 

Tamar Security Limited
(Registration number: 05455843)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit A Ulysses Park
Heron Road
Sowton Industrial Estate
Exeter
Devon
EX2 7PH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

 

Tamar Security Limited
(Registration number: 05455843)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% written down value

Motor vehicles

20% written down value

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Written off over its estimated useful life of 10 years

 

Tamar Security Limited
(Registration number: 05455843)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Tamar Security Limited
(Registration number: 05455843)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 22 (2023 - 23).

 

Tamar Security Limited
(Registration number: 05455843)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

580,954

580,954

At 30 June 2024

580,954

580,954

Amortisation

At 1 July 2023

580,954

580,954

At 30 June 2024

580,954

580,954

Carrying amount

At 30 June 2024

-

-

5

Tangible assets

Fixtures, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

80,581

294,145

374,726

Additions

1,000

84,920

85,920

Disposals

-

(23,051)

(23,051)

At 30 June 2024

81,581

356,014

437,595

Depreciation

At 1 July 2023

51,521

145,406

196,927

Charge for the year

4,488

37,480

41,968

Eliminated on disposal

-

(18,217)

(18,217)

At 30 June 2024

56,009

164,669

220,678

Carrying amount

At 30 June 2024

25,572

191,345

216,917

At 30 June 2023

29,060

148,739

177,799

 

Tamar Security Limited
(Registration number: 05455843)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 July 2023 and 30 June 2021

100

Carrying amount

At 30 June 2024

100

At 30 June 2023

100

7

Stocks

2024
£

2023
£

Finished goods and goods for resale

30,000

30,000

8

Debtors

2024
£

2023
£

Trade debtors

189,716

222,119

Other debtors

461,729

368,661

Prepayments and accrued income

44,346

39,634

Directors loan account

-

25,518

Total current trade and other debtors

695,791

655,932

 

Tamar Security Limited
(Registration number: 05455843)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

9

Creditors

2024
£

2023
£

Due within one year

Trade creditors

85,993

69,165

Amounts owed to group undertakings and undertakings in which the company has a participating interest

100

100

Taxation and social security

136,812

133,339

Other creditors

6,222

4,156

Accruals and deferred income

410,213

416,185

639,340

622,945

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £173,227 (2023 - £211,983). This includes £41,890 (2023 - £38,756) due within one year.

 

Tamar Security Limited
(Registration number: 05455843)

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

11

Related party transactions

Transactions with the director

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Director 1 - Interest free loan repayable on demand

5,547

16,115

(21,662)

-

Director 2 - Interest free loan repayable on demand

5,546

16,115

(21,661)

-

Director 3 - Interest free loan repayable on demand

14,425

-

(14,425)

-

 

25,518

32,230

(57,748)

-

       

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Director 1 - Interest free loan repayable on demand

4,566

21,048

(20,067)

5,547

Director 2 - Interest free loan repayable on demand

4,565

21,048

(20,067)

5,546

Director 3 - Interest free loan repayable on demand

-

14,737

(312)

14,425

 

9,131

56,833

(40,446)

25,518