2024-01-012024-12-312024-12-31false08819730ACCESS SECURITY SOLUTIONS (GROUP) 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ACCESS SECURITY SOLUTIONS (GROUP) LTD

(formerly ACCESS SECURITY PRODUCTS LIMITED)

Registered Number
08819730
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

ACCESS SECURITY SOLUTIONS (GROUP) LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

Mr J A Foster

Registered Address

Unit 2 Selby Barns
Duncote
Towcester
NN12 8AL

Registered Number

08819730 (England and Wales)
ACCESS SECURITY SOLUTIONS (GROUP) LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36,4964,461
6,4964,461
Current assets
Stocks491,82492,217
Debtors589,53289,435
Cash at bank and on hand84,82997,757
266,185279,409
Creditors amounts falling due within one year6(142,558)(159,483)
Net current assets (liabilities)123,627119,926
Total assets less current liabilities130,123124,387
Creditors amounts falling due after one year7(2,646)(8,884)
Provisions for liabilities8(1,624)(1,182)
Net assets125,853114,321
Capital and reserves
Profit and loss account125,853114,321
Shareholders' funds125,853114,321
The financial statements were approved and authorised for issue by the Director on 30 May 2025, and are signed on its behalf by:
Mr J A Foster
Director
Registered Company No. 08819730
ACCESS SECURITY SOLUTIONS (GROUP) LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
Access Security Products Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2 Selby Barns, Duncote, Towcester, Northamptonshire, NN12 8AL.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 25% on cost Computers 33% on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks and work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year64
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 January 2418,8123,55422,366
Additions6,5981,6108,208
At 31 December 2425,4105,16430,574
Depreciation and impairment
At 01 January 2415,3002,60517,905
Charge for year5,1611,0116,172
Other adjustments-11
At 31 December 2420,4613,61724,078
Net book value
At 31 December 244,9491,5476,496
At 31 December 233,5129494,461
4.Stocks

2024

2023

££
Other stocks91,82492,217
Total91,82492,217
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables76,44285,261
Other debtors13,0904,174
Total89,53289,435
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables43,62460,427
Taxation and social security42,16744,979
Other creditors56,76754,077
Total142,558159,483
7.Creditors: amounts due after one year

2024

2023

££
Other creditors2,6468,884
Total2,6468,884
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)1,6241,182
Total1,6241,182