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Registration number: 12162563

Opsica Security Ltd

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Opsica Security Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Opsica Security Ltd

Company Information

Directors

Mr D Kelly

Mrs K Kelly

Registered office

Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW

 

Opsica Security Ltd

(Registration number: 12162563)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

23,179

27,711

Current assets

 

Debtors

5

19,798

5,281

Cash at bank and in hand

 

26,572

62,016

 

46,370

67,297

Creditors: Amounts falling due within one year

6

(32,761)

(67,231)

Net current assets

 

13,609

66

Total assets less current liabilities

 

36,788

27,777

Provisions for liabilities

(3,423)

(2,890)

Net assets

 

33,365

24,887

Capital and reserves

 

Called up share capital

100

100

Retained earnings

33,265

24,787

Shareholders' funds

 

33,365

24,887

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

 

Opsica Security Ltd

(Registration number: 12162563)
Balance Sheet as at 31 August 2024

.........................................
Mr D Kelly
Director

.........................................
Mrs K Kelly
Director

 

Opsica Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
England

The principal place of business is:
Rectory Gardens Offices Church Lane
Bygrave Rd
Baldock
SG7 5EG

These financial statements were authorised for issue by the Board on 28 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Opsica Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% reducing balance

Office Equipment

20% Straight line

Motor Vehicles

10% Reducing balance

 

Opsica Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Opsica Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

19,994

13,000

32,994

Additions

481

-

481

At 31 August 2024

20,475

13,000

33,475

Depreciation

At 1 September 2023

3,593

1,690

5,283

Charge for the year

3,882

1,131

5,013

At 31 August 2024

7,475

2,821

10,296

Carrying amount

At 31 August 2024

13,000

10,179

23,179

At 31 August 2023

16,401

11,310

27,711

5

Debtors

Current

2024
£

2023
£

Trade debtors

18,488

3,104

Prepayments

1,310

1,385

Other debtors

-

792

 

19,798

5,281

 

Opsica Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

23

174

Trade creditors

 

5,181

16,560

Taxation and social security

 

6,302

19,459

Accruals and deferred income

 

1,300

1,300

Other creditors

 

19,955

29,738

 

32,761

67,231

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Dividends

2024

2023

£

£

Interim dividend of £200.00 (2023 - £400.00) per ordinary share

2,000

4,000

 

 

9

Related party transactions

At the balance sheet date, the company owed £10,129 (2023: £24,657) to Mr D Kelly and Mrs K Kelly, the directors of the company. This loan is repayable on demand and no interest is being charged.

10

Ultimate controlling party

The ultimate controlling party is Mr D Kelly and Mrs K Kelly by virtue of their majority share holding.

 

Opsica Security Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

11

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

23

174