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COMPANY REGISTRATION NUMBER: 07339913
CRL Security Systems Limited
Filleted Unaudited Financial Statements
31 August 2024
CRL Security Systems Limited
Balance Sheet
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
88,309
76,600
Current assets
Stocks
10,000
6,500
Debtors
6
58,935
71,103
Cash at bank and in hand
198,345
178,458
---------
---------
267,280
256,061
Creditors: amounts falling due within one year
7
80,195
69,534
---------
---------
Net current assets
187,085
186,527
---------
---------
Total assets less current liabilities
275,394
263,127
Creditors: amounts falling due after more than one year
8
26,029
---------
---------
Net assets
249,365
263,127
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
249,364
263,126
---------
---------
Shareholders funds
249,365
263,127
---------
---------
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 profit and loss account has not been delivered.
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CRL Security Systems Limited
Balance Sheet (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 20 February 2025 , and are signed on behalf of the board by:
Mr R Morris
Director
Company registration number: 07339913
CRL Security Systems Limited
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 and Wales. The address of the registered office is A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Plant & machinery
-
25% straight line
Furniture & fittings
-
25% straight line
Motor vehicles
-
25% straight line
Office equipment
-
25% straight line
Impairment of fixed assets
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. For the purposes of impairment testing, 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 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 stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 September 2023
583
3,166
129,466
2,140
135,355
Additions
73,650
73,650
Disposals
( 63,980)
( 63,980)
----
-------
---------
-------
---------
At 31 August 2024
583
3,166
139,136
2,140
145,025
----
-------
---------
-------
---------
Depreciation
At 1 September 2023
583
2,673
53,359
2,140
58,755
Charge for the year
164
34,784
34,948
Disposals
( 36,987)
( 36,987)
----
-------
---------
-------
---------
At 31 August 2024
583
2,837
51,156
2,140
56,716
----
-------
---------
-------
---------
Carrying amount
At 31 August 2024
329
87,980
88,309
----
-------
---------
-------
---------
At 31 August 2023
493
76,107
76,600
----
-------
---------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
46,825
52,518
Other debtors
12,110
18,585
--------
--------
58,935
71,103
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
14,639
16,172
Corporation tax
26,273
25,120
Social security and other taxes
31,159
25,214
Other creditors
8,124
3,028
--------
--------
80,195
69,534
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
26,029
--------
----
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
257,280
249,561
---------
---------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
48,794
19,201
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr R Morris
( 267)
( 201)
( 468)
----
----
----
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr R Morris
( 210)
( 57)
( 267)
----
----
----