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Company Registration No. 08059841 (England and Wales)
Millennium Security Limited Unaudited accounts for the year ended 31 May 2024
Millennium Security Limited Unaudited accounts Contents
Page
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Millennium Security Limited Company Information for the year ended 31 May 2024
Directors
Adam Bakewell Philip Appleby
Secretary
Adam Bakewell
Company Number
08059841 (England and Wales)
Registered Office
Unit 14 Kenneth Way Wilstead Bedfordshire MK45 3PD United Kingdom
Accountants
VAS Accounting Ltd 34 Box End Road Kempston Bedfordshire MK43 8RR
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Millennium Security Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4,718 
5,509 
Tangible assets
1,144,885 
798,417 
1,149,603 
803,926 
Current assets
Debtors
658,438 
709,455 
Cash at bank and in hand
118,448 
101,903 
776,886 
811,358 
Creditors: amounts falling due within one year
(744,229)
(859,912)
Net current assets/(liabilities)
32,657 
(48,554)
Total assets less current liabilities
1,182,260 
755,372 
Creditors: amounts falling due after more than one year
(136,890)
(14,330)
Provisions for liabilities
Deferred tax
(283,664)
(195,627)
Net assets
761,706 
545,415 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
761,606 
545,315 
Shareholders' funds
761,706 
545,415 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by
Philip Appleby Director Company Registration No. 08059841
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Millennium Security Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Millennium Security Limited is a private company, limited by shares, registered in England and Wales, registration number 08059841. The registered office is Unit 14, Kenneth Way, Wilstead, Bedfordshire, MK45 3PD, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line (RSI equipment 50% straight line)
Motor vehicles
25% reducing balance
Fixtures & fittings
20% straight line
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Millennium Security Limited Notes to the Accounts for the year ended 31 May 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Total 
£ 
Cost
At 1 June 2023
7,910 
At 31 May 2024
7,910 
Amortisation
At 1 June 2023
2,401 
Charge for the year
791 
At 31 May 2024
3,192 
Net book value
At 31 May 2024
4,718 
At 31 May 2023
5,509 
5
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 June 2023
2,538,846 
Additions
718,781 
Disposals
(15,495)
At 31 May 2024
3,242,132 
Depreciation
At 1 June 2023
1,740,429 
Charge for the year
368,293 
On disposals
(11,475)
At 31 May 2024
2,097,247 
Net book value
At 31 May 2024
1,144,885 
At 31 May 2023
798,417 
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Millennium Security Limited Notes to the Accounts for the year ended 31 May 2024
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
163,244 
125,189 
6
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 May 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
70,103 
57,178 
Later than one year and not later than five years
311,169 
279,038 
Later than five years
88,265 
144,011 
469,537 
480,227 
7
Average number of employees
During the year the average number of employees was 17 (2023: 15).
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