SC392828falsethe supply of security products2024-03-012025-02-28http://www.companieshouse.gov.uk/2024-02-29http://www.companieshouse.gov.uk/cd:CompanySecretary12024-03-012025-02-28http://www.companieshouse.gov.uk/pt:ShareCapital2024-02-29http://www.companieshouse.gov.uk/cd:Director12024-03-012025-02-28http://www.companieshouse.gov.uk/pt:ShareCapital2025-02-28http://www.companieshouse.gov.uk/cd:Director22024-03-012025-02-28http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12024-03-012025-02-28http://www.companieshouse.gov.uk/cd:RegisteredOffice2024-03-012025-02-28http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2024-03-012025-02-28http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2025-02-28http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-02-29http://www.companieshouse.gov.uk/2024-03-012025-02-28http://www.companieshouse.gov.uk/2024-02-29http://www.companieshouse.gov.uk/cd:FRS1022024-03-012025-02-28http://www.companieshouse.gov.uk/2025-02-28http://www.companieshouse.gov.uk/cd:FullAccounts2024-03-012025-02-28http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2024-03-012025-02-28iso4217:GBPxbrli:sharesxbrli:pure
Registered number: SC392828

Independent Security Supplies (Glasgow) Ltd

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025

Prepared By:
Cunningham Grant CA
Chartered Accountants
G6, The Granary Business Centre
Coal Road
Cupar
Fife
KY15 5YQ

Independent Security Supplies (Glasgow) Ltd

ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
DIRECTORS
James Collins
Julie Collins
SECRETARY
Fiona Graham
REGISTERED OFFICE
Unit G6 The Granary Business Centre
Coal Road
Cupar
Fife
KY15 5YQ
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC392828
ACCOUNTANTS
Cunningham Grant CA
Chartered Accountants
G6, The Granary Business Centre
Coal Road
Cupar
Fife
KY15 5YQ

Independent Security Supplies (Glasgow) Ltd

ACCOUNTS
FOR THEYEARENDED28 FEBRUARY 2025
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Independent Security Supplies (Glasgow) Ltd

BALANCE SHEET AT 28 February 2025
20252024
Notes££
FIXED ASSETS
Tangible assets320,91029,074
CURRENT ASSETS
Stock64,89336,456
Debtors4297,267354,657
Cash at bank and in hand1,7032,579
363,863393,692
CREDITORS: Amounts falling due within one year5272,623297,015
NET CURRENT ASSETS91,24096,677
TOTAL ASSETS LESS CURRENT LIABILITIES112,150125,751
CREDITORS: Amounts falling due after more than one year638,58848,284
PROVISIONS FOR LIABILITIES AND CHARGES4,8546,872
NET ASSETS68,70870,595
CAPITAL AND RESERVES
Called up share capital8100100
Profit and loss account68,60870,495
SHAREHOLDERS' FUNDS68,70870,595
For the year ending 28 February 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 23 July 2025 and signed on their behalf by
.............................
James Collins
Director

Independent Security Supplies (Glasgow) Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
1. ACCOUNTING POLICIES
1a. General Information & Basis of Accounting
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements. The company's place of business is Unit 1B, Payne Street, Port Dundas, Glasgow, G4 0LE.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. 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 shown.
1b. Turnover
Turnover represents the amounts receivable arising from the supply of goods net of VAT and trade discounts.
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover is recognised as the fair value of the consideration received or receivable for services provided in the normal course of business, net of VAT and trade discounts.
1c. Tangible Fixed Assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Plant And Machineryreducing balance25%
Equipmentstraight line33%
Motor Carsreducing balance25%
1d. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

Independent Security Supplies (Glasgow) Ltd

1e. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1f. Financial Instruments
Basic financial assets - Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities - Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1g. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
1h. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

Independent Security Supplies (Glasgow) Ltd

1i. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods.
2. EMPLOYEES
20252024
No.No.
Average number of employees55
3. TANGIBLE FIXED ASSETS
Plant and
Machinery Etc.Total
££
Cost
At 1 March 202447,53747,537
Disposals(3,306)(3,306)
At 28 February 202544,23144,231
Depreciation
At 1 March 202418,46318,463
Disposals(3,306)(3,306)
For the year8,1648,164
At 28 February 202523,32123,321
Net Book Amounts
At 28 February 202520,91020,910
At 29 February 202429,07429,074

Independent Security Supplies (Glasgow) Ltd

4. DEBTORS 20252024
££
Amounts falling due within one year:
Trade debtors293,043346,781
Other debtors4,2247,876
297,267354,657
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20252024
££
Bank loans and overdrafts4,4444,444
Trade creditors153,558172,679
Taxation and social security50,12952,450
Other creditors64,49267,442
272,623297,015
6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20252024
££
Bank loans and overdrafts19,26023,643
Other creditors19,32824,641
38,58848,284
Included in other creditors are:
Obligations under hire purchase19,32824,641

Independent Security Supplies (Glasgow) Ltd

7. SECURED CREDITORS
20252024
££
Amount of other creditors which are secured24,64129,953
Included in other creditors are obligations under hire purchase contracts secured over the motor vehicle in the business.
8. SHARE CAPITAL 20252024
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
9. OTHER FINANCIAL COMMITMENTS
At 28 February 2025 the company was committed to making the following payments under non-cancellable operating leases:
20252024
££
Operating leases17,37736,004
10. RELATED PARTY TRANSACTIONS
Included in other creditors is an interest free loan from Saltire Security Products Limited, a company in which James Collins and Julie Collins are directors and shareholders, of £53,000 (2024 - £53,000).
Included in other creditors is an interest free loan from the directors of £1,776 (2024 - £Nil). There is no fixed repayment date.
11. TRANSACTIONS WITH DIRECTORS
Included at the year end is an interest free loan to the directors of £Nil (2024 - £4,510). The maximum outstanding balance in the year was £4,424. £4,510 was repaid during the year.