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Registered number: 05219174
Prestige Security Systems Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05219174
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 129,397 100,155
129,397 100,155
CURRENT ASSETS
Stocks 5 108,574 950
Debtors 6 85,767 124,006
Cash at bank and in hand 237,317 383,145
431,658 508,101
Creditors: Amounts Falling Due Within One Year 7 (111,385 ) (154,622 )
NET CURRENT ASSETS (LIABILITIES) 320,273 353,479
TOTAL ASSETS LESS CURRENT LIABILITIES 449,670 453,634
Creditors: Amounts Falling Due After More Than One Year 8 (59,376 ) (54,546 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (32,349 ) (21,778 )
NET ASSETS 357,945 377,310
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 357,935 377,300
SHAREHOLDERS' FUNDS 357,945 377,310
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gavin Wolstenholme
Director
13/03/2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Prestige Security Systems Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05219174 . The registered office is The Old Barn, Off Wood Street, Swanley Village, Kent, BR8 7PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% WDV
Fixtures & Fittings 15% WDV
Computer Equipment 15% WDV
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 10)
10 10
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2023 130,269 18,291 18,456 167,016
Additions 49,428 1,727 916 52,071
As at 30 September 2024 179,697 20,018 19,372 219,087
Depreciation
As at 1 October 2023 47,220 11,117 8,524 66,861
Provided during the period 19,867 1,334 1,628 22,829
As at 30 September 2024 67,087 12,451 10,152 89,690
Net Book Value
As at 30 September 2024 112,610 7,567 9,220 129,397
As at 1 October 2023 83,049 7,174 9,932 100,155
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5. Stocks
2024 2023
£ £
Stock - 950
Work in progress 108,574 -
108,574 950
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 71,974 118,147
Prepayments and accrued income 9,414 5,859
VAT 4,379 -
85,767 124,006
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 9,258 4,655
Trade creditors 66,153 41,295
Bank loans and overdrafts 10,357 10,102
Corporation tax 8,428 53,651
Other taxes and social security 5,841 5,167
VAT - 17,385
Other creditors 10,963 21,976
Director's loan account 385 391
111,385 154,622
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 52,476 37,288
Bank loans 6,900 17,258
59,376 54,546
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 9,258 4,655
Later than one year and not later than five years 52,476 37,288
61,734 41,943
61,734 41,943
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
11. Related Party Transactions
Included in the Other Creditors is an amount owed to the company director Mr G Wolstenholme totalling £385 (2023 - £391), no interest is to be charged.
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