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REGISTERED NUMBER: 02170478 (England and Wales)















Financial Statements for the Year Ended 30 April 2024

for

Solid State Security Limited

Solid State Security Limited (Registered number: 02170478)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Solid State Security Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr A W Foster
Mrs S J Foster
Mr J Foster



REGISTERED OFFICE: 54 Chorley Road
Hilldale
Parbold
Wigan
Lancashire
WN8 7AS



REGISTERED NUMBER: 02170478 (England and Wales)



ACCOUNTANTS: Ashworth Treasure Limited
Chartered Accountants
17-19 Park Street
Lytham
Lancashire
FY8 5LU



BANKERS: Virgin Money
44 Fishergate
Preston
PR1 8BH

Solid State Security Limited (Registered number: 02170478)

Abridged Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 17,256 21,570
Tangible assets 5 66,172 113,620
83,428 135,190

CURRENT ASSETS
Stocks 17,932 17,932
Debtors 1,989,823 1,503,591
Cash at bank 760,383 292,494
2,768,138 1,814,017
CREDITORS
Amounts falling due within one year 914,491 593,117
NET CURRENT ASSETS 1,853,647 1,220,900
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,937,075

1,356,090

CREDITORS
Amounts falling due after more than one
year

(14,085

)

(17,029

)

PROVISIONS FOR LIABILITIES (2,349 ) (10,357 )
NET ASSETS 1,920,641 1,328,704

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,920,541 1,328,604
SHAREHOLDERS' FUNDS 1,920,641 1,328,704

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.

Solid State Security Limited (Registered number: 02170478)

Abridged Balance Sheet - 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 January 2025 and were signed on its behalf by:





Mr J Foster - Director


Solid State Security Limited (Registered number: 02170478)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Solid State Security 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Fixed assets are stated at purchase price, less depreciation and amounts written off.

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

Cost is calculated on a first in first out basis.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Solid State Security Limited (Registered number: 02170478)

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.

Long term contracts
When the outcome of an individual contract can be foreseen with reasonable certainty and can be estimated reliably, margin is recognised by reference to the stage of completion, based on the lower of the percentage margin earned to date and that prudently forecast at completion. This is after the deduction of any foreseeable losses and applicable payments on account.

Operating profit is stated after attributable profit on long term contracts completed and amounts recoverable on contracts uncompleted, the latter also being included within debtors due within one year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2023 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 43,140
AMORTISATION
At 1 May 2023 21,570
Amortisation for year 4,314
At 30 April 2024 25,884
NET BOOK VALUE

At 30 April 2024 17,256
At 30 April 2023 21,570

Solid State Security Limited (Registered number: 02170478)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 452,920
Additions 26,995
Disposals (350,154 )
At 30 April 2024 129,761
DEPRECIATION
At 1 May 2023 339,300
Charge for year 28,453
Eliminated on disposal (304,164 )
At 30 April 2024 63,589
NET BOOK VALUE
At 30 April 2024 66,172
At 30 April 2023 113,620

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

Totals
£   
COST
At 1 May 2023 95,995
Additions 26,995
Disposals (16,500 )
Transfer to ownership (15,995 )
At 30 April 2024 90,495
DEPRECIATION
At 1 May 2023 33,372
Charge for year 19,295
Eliminated on disposal (6,531 )
Transfer to ownership (10,091 )
At 30 April 2024 36,045
NET BOOK VALUE
At 30 April 2024 54,450
At 30 April 2023 62,623

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 27,027 39,505

7. CAPITAL COMMITMENTS

The company had no capital commitments at the balance sheet date.

Solid State Security Limited (Registered number: 02170478)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr A W Foster
Balance outstanding at start of year 411 (2,589 )
Amounts advanced - 3,000
Amounts repaid (500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (89 ) 411

9. RELATED PARTY DISCLOSURES

The company entered into the following transactions with related parties.

Name Description 2024 2023
£    £   
Computionics Limited Purchases 703,498 762,709
Computionics Limited Sales 132,999 150,244
Computionics Limited Management charges - -


The net sum of (£131,538) (2023: £22,101) was due from/(to) Computionics Limited at the balance sheet date.

The related parties are under the common control of the directors.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A W Foster.