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REGISTERED NUMBER: 02605911 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

HOME SECURITIES LIMITED

HOME SECURITIES LIMITED (REGISTERED NUMBER: 02605911)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


HOME SECURITIES LIMITED (REGISTERED NUMBER: 02605911)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 17,804 10,383

CURRENT ASSETS
Stocks 8,499 8,294
Debtors 6 20,223 17,461
Cash at bank and in hand 55,862 75,448
84,584 101,203
CREDITORS
Amounts falling due within one year 7 (33,354 ) (34,713 )
NET CURRENT ASSETS 51,230 66,490
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,034

76,873

PROVISIONS FOR LIABILITIES (3,532 ) (1,971 )
NET ASSETS 65,502 74,902

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 65,400 74,800
65,502 74,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HOME SECURITIES LIMITED (REGISTERED NUMBER: 02605911)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 January 2025 and were signed by:





S M Loftus - Director


HOME SECURITIES LIMITED (REGISTERED NUMBER: 02605911)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Home Securities Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02605911

Registered office: 55 Piccadilly
Hanley
Stoke on Trent
Staffordshire
ST1 1HR

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

(i) Estimated useful lives and residual values of fixed assets

Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

(ii) Stock Provision

The company supplies alarm systems and items which are associated with repairs and servicing. Given the nature of stock held it is necessary to consider the recoverability of the cost of stock and the associated provision required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability of the stock.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.

HOME SECURITIES LIMITED (REGISTERED NUMBER: 02605911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Corporation tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
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.

HOME SECURITIES LIMITED (REGISTERED NUMBER: 02605911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023 25,149 25,230 50,379
Additions 175 10,190 10,365
At 31 May 2024 25,324 35,420 60,744
DEPRECIATION
At 1 June 2023 23,143 16,853 39,996
Charge for year 425 2,519 2,944
At 31 May 2024 23,568 19,372 42,940
NET BOOK VALUE
At 31 May 2024 1,756 16,048 17,804
At 31 May 2023 2,006 8,377 10,383

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 9,387 6,364
Other debtors 9,125 8,118
Prepayments and accrued income 1,711 2,979
20,223 17,461

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade creditors 7,886 6,633
Taxation and social security 22,855 25,529
Other creditors 2,613 2,551
33,354 34,713

HOME SECURITIES LIMITED (REGISTERED NUMBER: 02605911)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


8. RELATED PARTY DISCLOSURES

During the year the company undertook transactions with the following related parties

1) A shareholder:
Amounts due by related party at 1st June 2023 £3,533. Amounts introduced of £18,195. Amounts drawn £18,120. Amounts due by the related party at 31st May 2024 £3,458.

2) A shareholder:
Amounts due to related party at 1st June 2023 £4,585. Amounts introduced of £23,447. Amounts drawn £24,529. Amounts due by related party at 31st May 2024 £5,667.