Registered number
07276917
Kingswood Security Ltd
Filleted Accounts
30 June 2024
Kingswood Security Ltd
Registered number: 07276917
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 31,370 16,756
Current assets
Debtors 4 41,832 60,526
Cash at bank and in hand 4,120 47,864
45,952 108,390
Creditors: amounts falling due within one year 5 (46,005) (82,581)
Net current (liabilities)/assets (53) 25,809
Total assets less current liabilities 31,317 42,565
Creditors: amounts falling due after more than one year 6 (31,083) (36,860)
Net assets 234 5,705
Capital and reserves
Called up share capital 300 300
Profit and loss account (66) 5,405
Shareholders' funds 234 5,705
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Phillips
Director
Approved by the board on 5 December 2024
Kingswood Security Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Motor Vehicle 25% reducing balance basis
Plant and machinery 25% reducing balance basis
Fixtures, fittings, tools and equipment 25% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 36,557 40,799 77,356
Additions 1,791 26,995 28,786
Disposals - (25,000) (25,000)
At 30 June 2024 38,348 42,794 81,142
Depreciation
At 1 July 2023 26,486 34,114 60,600
Charge for the year 2,602 9,747 12,349
On disposals - (23,177) (23,177)
At 30 June 2024 29,088 20,684 49,772
Net book value
At 30 June 2024 9,260 22,110 31,370
At 30 June 2023 10,071 6,685 16,756
4 Debtors 2024 2023
£ £
Trade debtors 16,543 50,019
Other debtors 25,289 10,507
41,832 60,526
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,763 5,607
Trade creditors 17,517 13,318
Corporation tax 14,512 18,908
Other taxes and social security costs 8,213 37,946
Other creditors - 6,802
46,005 82,581
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 31,083 36,860
7 Other information
Kingswood Security Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Airport House
Purley Way
Croydon
Surrey
CR0 0XZ
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