1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-16 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 09274759 2023-04-16 2024-04-15 09274759 2024-04-15 09274759 2023-04-15 09274759 2022-04-16 2023-04-15 09274759 2023-04-15 09274759 2022-04-15 09274759 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-16 2024-04-15 09274759 core:FurnitureFittings 2023-04-16 2024-04-15 09274759 core:MotorVehicles 2023-04-16 2024-04-15 09274759 bus:Director1 2023-04-16 2024-04-15 09274759 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-15 09274759 core:FurnitureFittings 2023-04-15 09274759 core:MotorVehicles 2023-04-15 09274759 core:FurnitureFittings 2024-04-15 09274759 core:MotorVehicles 2024-04-15 09274759 core:WithinOneYear 2024-04-15 09274759 core:WithinOneYear 2023-04-15 09274759 core:AfterOneYear 2024-04-15 09274759 core:AfterOneYear 2023-04-15 09274759 core:ShareCapital 2024-04-15 09274759 core:ShareCapital 2023-04-15 09274759 core:RetainedEarningsAccumulatedLosses 2024-04-15 09274759 core:RetainedEarningsAccumulatedLosses 2023-04-15 09274759 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-15 09274759 core:FurnitureFittings 2023-04-15 09274759 core:MotorVehicles 2023-04-15 09274759 bus:SmallEntities 2023-04-16 2024-04-15 09274759 bus:AuditExemptWithAccountantsReport 2023-04-16 2024-04-15 09274759 bus:SmallCompaniesRegimeForAccounts 2023-04-16 2024-04-15 09274759 bus:PrivateLimitedCompanyLtd 2023-04-16 2024-04-15 09274759 bus:FullAccounts 2023-04-16 2024-04-15 09274759 core:OfficeEquipment 2023-04-16 2024-04-15 09274759 core:OfficeEquipment 2024-04-15 09274759 core:OfficeEquipment 2023-04-15 09274759 core:AfterOneYear 2023-04-16 2024-04-15 09274759 bus:Director1 1 2023-04-16 2024-04-15
COMPANY REGISTRATION NUMBER: 09274759
Korinth Security Limited
Filleted Unaudited Financial Statements
15 April 2024
Korinth Security Limited
Financial Statements
Year ended 15 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Korinth Security Limited
Statement of Financial Position
15 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
27,084
37,270
Current assets
Debtors
6
6,007
15,762
Cash at bank and in hand
2,620
37,422
-------
--------
8,627
53,184
Creditors: amounts falling due within one year
7
13,148
27,643
--------
--------
Net current (liabilities)/assets
( 4,521)
25,541
--------
--------
Total assets less current liabilities
22,563
62,811
Creditors: amounts falling due after more than one year
8
18,992
28,740
--------
--------
Net assets
3,571
34,071
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,471
33,971
-------
--------
Shareholders funds
3,571
34,071
-------
--------
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 income and retained earnings has not been delivered.
For the year ending 15 April 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 .
Korinth Security Limited
Statement of Financial Position (continued)
15 April 2024
These financial statements were approved by the board of directors and authorised for issue on 10 April 2025 , and are signed on behalf of the board by:
Mr I Robinson
Director
Company registration number: 09274759
Korinth Security Limited
Notes to the Financial Statements
Year ended 15 April 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 Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
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.
Going concern
The directors will continue to support the company and believe that the company will generate a profit in future periods therefore the accounts have been prepared on a going concern basis.
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 and represents amounts receivable for services rendered, stated net of discounts.
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.
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
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% reducing balance
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.
Financial instruments
Financial liabilities and equity instruments are classified 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 3 ).
5. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 16 April 2023 and 15 April 2024
10,109
133,707
34,826
178,642
----
--------
---------
--------
---------
Depreciation
At 16 April 2023
( 1)
7,734
106,066
27,573
141,372
Charge for the year
899
6,910
2,376
10,185
Disposals
1
1
----
--------
---------
--------
---------
At 15 April 2024
8,633
112,976
29,949
151,558
----
--------
---------
--------
---------
Carrying amount
At 15 April 2024
1,476
20,731
4,877
27,084
----
--------
---------
--------
---------
At 15 April 2023
1
2,375
27,641
7,253
37,270
----
--------
---------
--------
---------
6. Debtors
2024
2023
£
£
Other debtors
6,007
15,762
-------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,648
10,648
Social security and other taxes
15,000
Other creditors
2,500
1,995
--------
--------
13,148
27,643
--------
--------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,992
28,740
--------
--------
Bank loans and overdrafts are secured by way of a fixed and floating charge over the property and undertakings of the company.
9. Director's advances, credits and guarantees
At the year end the company was owed £6,007 (2023: £15,762) from the directors.