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Company registration number: 08643124
Besecure Protection Systems Ltd
Trading as Besecure Protection Systems Ltd
Unaudited filleted financial statements
31 August 2024
Besecure Protection Systems Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Besecure Protection Systems Ltd
Directors and other information
Directors Mr. Ben Mitchell
Mrs. Ruth Mitchell
Company number 08643124
Registered office Hagley Showrooms
Bartestree
Hereford
HR1 4BX
Business address Hagley Showrooms
Bartestree
Hereford
HR1 4BX
Accountant DJ Accountancy Ltd
Redlands
Leddington
Ledbury
HR8 2LG
Besecure Protection Systems Ltd
Statement of financial position
31 August 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 247,236 206,509
_______ _______
247,236 206,509
Current assets
Stocks 30,488 24,902
Debtors 7 273,811 116,213
Cash at bank and in hand 107,211 132,263
_______ _______
411,510 273,378
Creditors: amounts falling due
within one year 8 ( 332,064) ( 236,553)
_______ _______
Net current assets 79,446 36,825
_______ _______
Total assets less current liabilities 326,682 243,334
Creditors: amounts falling due
after more than one year 9 ( 175,272) ( 117,526)
_______ _______
Net assets 151,410 125,808
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 151,310 125,708
_______ _______
Shareholders funds 151,410 125,808
_______ _______
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 March 2025 , and are signed on behalf of the board by:
Mr. Ben Mitchell
Director
Company registration number: 08643124
Besecure Protection Systems Ltd
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Hagley Showrooms, Bartestree, Hereford, HR1 4BX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 12 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 September 2023 and 31 August 2024 10,060 10,060
_______ _______
Amortisation
At 1 September 2023 and 31 August 2024 10,060 10,060
_______ _______
Carrying amount
At 31 August 2024 - -
_______ _______
At 31 August 2023 - -
_______ _______
6. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 September 2023 48,422 202,258 250,680
Additions 7,996 123,978 131,974
Disposals - ( 13,750) ( 13,750)
_______ _______ _______
At 31 August 2024 56,418 312,486 368,904
_______ _______ _______
Depreciation
At 1 September 2023 19,911 24,260 44,171
Charge for the year 6,218 74,812 81,030
Disposals - ( 3,533) ( 3,533)
_______ _______ _______
At 31 August 2024 26,129 95,539 121,668
_______ _______ _______
Carrying amount
At 31 August 2024 30,289 216,947 247,236
_______ _______ _______
At 31 August 2023 28,511 177,998 206,509
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 53,785 105,313
Other debtors 220,026 10,900
_______ _______
273,811 116,213
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 89,344 52,352
Trade creditors 158,901 107,522
Corporation tax 41,824 37,896
Social security and other taxes 37,032 34,495
Other creditors 4,963 4,288
_______ _______
332,064 236,553
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 175,272 117,526
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr. Ben Mitchell ( 2,209) 159 ( 2,050)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr. Ben Mitchell ( 1,668) ( 541) ( 2,209)
_______ _______ _______