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REGISTERED NUMBER: 02975037 (England and Wales)













Financial Statements

for the Year Ended 31 October 2024

for

Static Security Services Limited

Static Security Services Limited (Registered number: 02975037)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Static Security Services Limited

Company Information
for the year ended 31 October 2024







DIRECTORS: P I Cook
N E Cook





SECRETARY: N E Cook





REGISTERED OFFICE: Greetwell Place
2 Limekiln Way
LINCOLN
LN2 4US





REGISTERED NUMBER: 02975037 (England and Wales)





ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN

Static Security Services Limited (Registered number: 02975037)

Abridged Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,609 32,062
4,609 32,062

CURRENT ASSETS
Debtors 278,919 264,146
Cash at bank and in hand 153,082 99,288
432,001 363,434
CREDITORS
Amounts falling due within one year 368,542 355,517
NET CURRENT ASSETS 63,459 7,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,068

39,979

CREDITORS
Amounts falling due after more than
one year

(7,035

)

(29,305

)

PROVISIONS FOR LIABILITIES (1,221 ) (6,092 )
NET ASSETS 59,812 4,582

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 59,808 4,578
59,812 4,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Static Security Services Limited (Registered number: 02975037)

Abridged Balance Sheet - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2025 and were signed on its behalf by:





P I Cook - Director


Static Security Services Limited (Registered number: 02975037)

Notes to the Financial Statements
for the year ended 31 October 2024

1. STATUTORY INFORMATION

Static Security Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, has been amortised evenly over its estimated useful life of eight years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised costs. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments and are measured at amortised costs. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Static Security Services Limited (Registered number: 02975037)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
The company assigns its trade debts to a factor and receives payments from the factor in respect of the assigned debts but retains all significant risks. Trade debtors and amounts received from the factor are separately disclosed in debtors respectively. All interest and factoring costs are charged to income as they accrue.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023
and 31 October 2024 60,000
AMORTISATION
At 1 November 2023
and 31 October 2024 60,000
NET BOOK VALUE

At 31 October 2024 -
At 31 October 2023 -

Static Security Services Limited (Registered number: 02975037)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2023 97,870
Additions 2,500
Disposals (60,150 )
At 31 October 2024 40,220
DEPRECIATION
At 1 November 2023 65,808
Charge for year 4,393
Eliminated on disposal (34,590 )
At 31 October 2024 35,611
NET BOOK VALUE
At 31 October 2024 4,609
At 31 October 2023 32,062

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,807 32,383
Other Creditors 213,724 206,968
215,531 239,351

The secured debts of £210,692 (2023: £200,282) relate to the factoring of sales invoices and are secured on the book debts of the company.

Hire purchase contracts are secured against the assets held.

Static Security Services Limited (Registered number: 02975037)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
P I Cook
Balance outstanding at start of year 151 151
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 151 151

N E Cook
Balance outstanding at start of year 1,038 1,038
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,038 1,038

The loan to directors is unsecured and interest free.