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Company Registration Number 01550516























SPECIALIST ALARM SERVICES LIMITED





FINANCIAL STATEMENTS





 31 DECEMBER 2024

























img4d53.png

 
SPECIALIST ALARM SERVICES LIMITED
REGISTERED NUMBER: 01550516

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
156,897
96,876

  
156,897
96,876

Current assets
  

Stocks
 5 
351,738
326,499

Debtors: amounts falling due within one year
 6 
603,070
954,235

Cash at bank and in hand
  
2,218,501
1,841,962

  
3,173,309
3,122,696

Creditors: amounts falling due within one year
 7 
(892,199)
(897,757)

Net current assets
  
 
 
2,281,110
 
 
2,224,939

Total assets less current liabilities
  
2,438,007
2,321,815

Provisions for liabilities
  

Deferred tax
 8 
(20,641)
(9,253)

  
 
 
(20,641)
 
 
(9,253)

Net assets
  
2,417,366
2,312,562


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,417,266
2,312,462

  
2,417,366
2,312,562


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr C Taylor
................................................
Mr P Hogarth
Director
Director


Date: 31 March 2025
Date: 31 March 2025

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
SPECIALIST ALARM SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Specialist Alarm Services Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The company's registered office is Hinde House, 26 Elswick East Terrace, Newcastle Upon Tyne, Tyne and Wear, NE4 7JL.
The financial statements are presented in sterling which is the functional currency of the company. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
SPECIALIST ALARM SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20% straight line
Fixtures and fittings
-
15-25% straight line
Other fixed assets
-
10% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 3

 
SPECIALIST ALARM SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
SPECIALIST ALARM SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2023 - 27).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 January 2024
102,761
264,592
1,000
368,353


Additions
91,964
11,697
3,672
107,333


Disposals
(12,000)
-
-
(12,000)



At 31 December 2024

182,725
276,289
4,672
463,686



Depreciation


At 1 January 2024
24,006
247,428
42
271,476


Charge for the year on owned assets
29,489
8,956
468
38,913


Disposals
(3,600)
-
-
(3,600)



At 31 December 2024

49,895
256,384
510
306,789



Net book value



At 31 December 2024
132,830
19,905
4,162
156,897



At 31 December 2023
78,754
17,164
958
96,876


5.


Stocks

2024
2023
£
£

Raw materials and consumables
351,738
326,499

351,738
326,499



6.


Debtors

2024
2023
£
£


Trade debtors
498,860
924,496

Other debtors
27,370
-

Prepayments and accrued income
76,840
29,739

603,070
954,235

Page 5

 
SPECIALIST ALARM SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.Debtors (continued)


Page 6

 
SPECIALIST ALARM SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
86,735
102,764

Corporation tax
-
208,800

Other taxation and social security
218,647
170,772

Other creditors
5,630
21,892

Accruals and deferred income
581,187
393,529

892,199
897,757



8.


Deferred taxation




2024


£






At beginning of year
(9,253)


Charged to profit or loss
(11,388)



At end of year
(20,641)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(20,641)
(11,020)

Short term timing differences
-
1,767

(20,641)
(9,253)


9.


Capital commitments


At 31 December 2024 the Company had capital commitments as follows:

2024
2023
£
£


Contracted for but not provided in these financial statements
11,894
-

11,894
-

Page 7

 
SPECIALIST ALARM SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Operating lease
113,468
14,321

113,468
14,321


11.


Related party transactions

During the financial year the company entered into a lease agreement with regards the property from which it trades, which is owned via a Self Invested Pension Plan in which some of the Directors are members.  The annual rent payments are £35,000 and the term of the lease runs to August 2034. .


12.


Controlling party

The immediate parent undertaking is Caring Technology Limited, a company registered in England and Wales. The ultimate parent undertaking is Carl Bennet AB, a company registered in Sweden. The ultimate controlling party is Carl Bennet.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 31 March 2025 by Michael Morris (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

Page 8