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COMPANY REGISTRATION NUMBER: 02611471
Safe & Sound Control Systems Ltd
Filleted Unaudited Financial Statements
31 December 2024
Safe & Sound Control Systems Ltd
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Safe & Sound Control Systems Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
178,343
181,956
Current assets
Stocks
8,808
5,744
Debtors
6
1,013,195
645,636
Cash at bank and in hand
1,174,601
956,891
------------
------------
2,196,604
1,608,271
Creditors: amounts falling due within one year
7
1,005,668
1,050,734
------------
------------
Net current assets
1,190,936
557,537
------------
---------
Total assets less current liabilities
1,369,279
739,493
------------
---------
Net assets
1,369,279
739,493
------------
---------
Capital and reserves
Called up share capital
40
40
Capital redemption reserve
60
60
Profit and loss account
1,369,179
739,393
------------
---------
Shareholders funds
1,369,279
739,493
------------
---------
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.
For the year ending 31 December 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 .
Safe & Sound Control Systems Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
M F Bullen
N D Taylor
Director
Director
Company registration number: 02611471
Safe & Sound Control Systems Ltd
Notes to the Financial Statements
Year ended 31 December 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 Unit 22 Chislet Close, Lakesview Business Park, Canterbury, CT3 4LB, Kent.
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.
Judgements and key sources of estimation uncertainty
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 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.
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:
Freehold property
-
2% straight line
Plant and machinery
-
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.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2023: 21 ).
5. Tangible assets
Freehold property
Plant and machinery
Total
£
£
£
Cost
At 1 January 2024
276,077
97,404
373,481
Additions
4,356
4,356
---------
---------
---------
At 31 December 2024
276,077
101,760
377,837
---------
---------
---------
Depreciation
At 1 January 2024
98,076
93,449
191,525
Charge for the year
5,522
2,447
7,969
---------
---------
---------
At 31 December 2024
103,598
95,896
199,494
---------
---------
---------
Carrying amount
At 31 December 2024
172,479
5,864
178,343
---------
---------
---------
At 31 December 2023
178,001
3,955
181,956
---------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
884,006
567,132
Other debtors
129,189
78,504
------------
---------
1,013,195
645,636
------------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
190,232
251,584
Corporation tax
322,598
200,524
Social security and other taxes
69,626
76,105
Other creditors
423,212
522,521
------------
------------
1,005,668
1,050,734
------------
------------