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Company Registration number: 04447106

Northern Security Systems Limited

Annual Report and Unaudited
Financial Statements


for the Year Ended 30 November 2024

 

Northern Security Systems Limited

Contents

Pages

Balance sheet

1 to 2

Notes to the financial statements

3 to 7

 

Northern Security Systems Limited

Balance Sheet as at 30 November 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

65,966

52,822

Current assets

 

Stocks

11,981

8,273

Debtors

5

306,281

302,353

Cash at bank and in hand

 

235,058

245,749

 

553,320

556,375

Creditors: Amounts falling due within one year

6

(254,311)

(309,997)

Net current assets

 

299,009

246,378

Total assets less current liabilities

 

364,975

299,200

Creditors: Amounts falling due after more than one year

6

(32,644)

(36,507)

Provisions for liabilities

(12,707)

(8,590)

Net assets

 

319,624

254,103

Capital and reserves

 

Called up share capital

100

100

Retained earnings

319,524

254,003

Shareholders' funds

 

319,624

254,103

 

Northern Security Systems Limited

Balance Sheet as at 30 November 2024 (continued)

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 04447106

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 

.........................................
Mr P Hopper
Director

 

Northern Security Systems Limited

Notes to the financial statements for the Year Ended 30 November 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:
17 Peterfield Road
Kingstown Industrial Estate
Carlisle
CA3 0EY

These financial statements were authorised for issue by the Board on 27 January 2025.

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.


The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

 

Northern Security Systems Limited

Notes to the financial statements for the Year Ended 30 November 2024 (continued)

2

ACCOUNTING POLICIES (continued)

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. Actual results may differ from these estimates.

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. Actual results may differ from these estimates.

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.

Taxation

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.
 

The current corporation 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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

 

Northern Security Systems Limited

Notes to the financial statements for the Year Ended 30 November 2024 (continued)

2

ACCOUNTING POLICIES (continued)

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

Plant and machinery

20% reducing balance

Office equipment

3 years straight line

Motor vehicles

25% reducing balance

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3

STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 8).

 

Northern Security Systems Limited

Notes to the financial statements for the Year Ended 30 November 2024 (continued)

4

TANGIBLE ASSETS

Office equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

2,010

62,441

5,935

70,386

Additions

2,172

26,135

988

29,295

At 30 November 2024

4,182

88,576

6,923

99,681

Depreciation

At 1 December 2023

1,024

13,738

2,802

17,564

Charge for the year

899

14,561

691

16,151

At 30 November 2024

1,923

28,299

3,493

33,715

Carrying amount

At 30 November 2024

2,259

60,277

3,430

65,966

At 30 November 2023

986

48,703

3,133

52,822

5

DEBTORS

Current

2024
£

2023
£

Trade debtors

98,353

174,005

Prepayments

23,328

18,348

Other debtors

184,600

110,000

 

306,281

302,353

 

Northern Security Systems Limited

Notes to the financial statements for the Year Ended 30 November 2024 (continued)

6

CREDITORS

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Loans and borrowings

24,474

18,468

Trade creditors

 

69,134

54,626

Taxation and social security

 

36,957

80,155

Accruals and deferred income

 

120,154

127,442

Other creditors

 

3,592

29,306

 

254,311

309,997

Creditors include net obligations under finance lease and hire purchase contracts which are secured of £11,878 (2023 - £5,828)

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

32,644

36,507

-

-


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £26,276 (2023 - £17,483)