Registered number
05324647
Security Management South West Limited
Unaudited Filleted Accounts
28 February 2025
Security Management South West Limited
Registered number: 05324647
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 77,859 61,075
Current assets
Debtors 4 785,533 559,107
Cash at bank and in hand 159,651 46,984
945,184 606,091
Creditors: amounts falling due within one year 5 (772,587) (462,878)
Net current assets 172,597 143,213
Total assets less current liabilities 250,456 204,288
Creditors: amounts falling due after more than one year 6 - (7,509)
Provisions for liabilities (8,747) (7,498)
Net assets 241,709 189,281
Capital and reserves
Called up share capital 51 51
Capital redemption reserve 7 49 49
Profit and loss account 241,609 189,181
Shareholders' funds 241,709 189,281
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
K York
Director
Approved by the board on 14 March 2025
Security Management South West Limited
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 125 107
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 March 2024 6,880 76,347 76,095 159,322
Additions - 27,123 - 27,123
At 28 February 2025 6,880 103,470 76,095 186,445
Depreciation
At 1 March 2024 - 55,253 42,994 98,247
Charge for the year - 6,202 4,137 10,339
At 28 February 2025 - 61,455 47,131 108,586
Net book value
At 28 February 2025 6,880 42,015 28,964 77,859
At 29 February 2024 6,880 21,094 33,101 61,075
4 Debtors 2025 2024
£ £
Trade debtors 755,420 545,345
Other debtors 30,113 13,762
785,533 559,107
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 232,381 37,258
Trade creditors 30,272 33,675
Taxation and social security costs 262,622 194,263
Other creditors 247,312 197,682
772,587 462,878
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans - 7,509
7 Capital redemption reserve 2025 2024
£ £
At 1 March 2024 49 49
At 28 February 2025 49 49
8 Other information
Security Management South West Limited is a private company limited by shares and incorporated in England. Its registered office is:
Tor View House Darklake View, Estover, Plymouth, PL6 7TL
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