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Registered Number: 05279369
England and Wales

 

 

 

IBS SECURITY SOLUTIONS LTD



Unaudited Filleted Financial Statements
 


Period of accounts

Start date: 01 December 2023

End date: 30 November 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 186,435    192,792 
Investments 4 370,166    370,166 
556,601    562,958 
Current assets      
Stocks 5 3,000    3,000 
Debtors 6 206,559    216,082 
Cash at bank and in hand 172,268    208,881 
381,827    427,963 
Creditors: amount falling due within one year 7 (444,717)   (368,636)
Net current assets (62,890)   59,327 
 
Total assets less current liabilities 493,711    622,285 
Creditors: amount falling due after more than one year 8 (98,275)   (120,164)
Provisions for liabilities 9 (43,322)   (27,034)
Net assets 352,114    475,087 
 

Capital and reserves
     
Called up share capital 203    203 
Profit and loss account 351,911    474,884 
Shareholders' funds 352,114    475,087 
 


For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 August 2025 and were signed on its behalf by:


-------------------------------
Jack Stoddart
Director
1
General Information
IBS Security Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 05279369, registration address Unit 2a Cowen Road, Blaydon-on-Tyne, Tyne and Wear, NE21 5TW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under going concern and the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
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 of 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 costs. When the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered. 

Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Straight Line
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes direct materials and, where appropriate, 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 the profit or loss. Reversals of impairment losses are also recognised in the profit or loss. 
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 13 (2023 : 9).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 December 2023 91,099    7,550    165,160    21,534    285,343 
Additions   818    47,745      48,563 
Disposals     (47,990)     (47,990)
At 30 November 2024 91,099    8,368    164,915    21,534    285,916 
Depreciation
At 01 December 2023 10,941    6,404    58,560    16,646    92,551 
Charge for year 1,824    491    35,634    733    38,682 
On disposals     (31,752)     (31,752)
At 30 November 2024 12,765    6,895    62,442    17,379    99,481 
Net book values
Closing balance as at 30 November 2024 78,334    1,473    102,473    4,155    186,435 
Opening balance as at 01 December 2023 80,158    1,146    106,600    4,888    192,792 

Included above are assets held under finance lease and hire purchase. The net book value of these assets as at 30th November 2024 is £84,763 (2023: £87,660). The depreciation charge on these assets for the year ended 30th November 2024 is £28,254 (2023: £11,496). 

4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 December 2023 370,166    370,166 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 30 November 2024 370,166    370,166 

5.

Stocks

2024
£
  2023
£
Stocks 3,000    3,000 
3,000    3,000 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 205,295    158,266 
Prepayments & Accrued Income 1,147    2,854 
Directors' Current Accounts 117    54,962 
206,559    216,082 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 105,001    36,362 
Bank Loans & Overdrafts (Secured) 13,500    13,500 
Amounts Owed to Group Undertakings 245,374    155,687 
Corporation Tax 3,684    63,057 
PAYE & Social Security 7,287   
Pension Control Account 4,320   
Accrued Expenses 21,227    7,058 
Other Creditors 3,127    65,627 
Obligations under HP/Financial Leases 26,935    21,828 
VAT 14,262    5,517 
444,717    368,636 
Included within bank loans and overdrafts is an amount of £3,600 (2023: £3,600) which is secured by way of a fixed and floating charge over the land and buildings and all other assets of the company. 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 47,232    60,221 
Other Creditors 2,250    3,375 
Obligations Under HP/Financial Leases 48,793    56,568 
98,275    120,164 
Included within bank loans due after one year is an amount of £40,699 (2023: £43,627) which is secured by way of a fixed and floating charge over the land and buildings and all other assets of the company. 


9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 46,609    27,034 
Pension Provisions (3,287)  
43,322    27,034 

10.

Directors advances, credits and guarantees

Included in debtors are amounts owed to the company of £117 (2023 - £54,962)
11.

Disclosure of Controlling Party

For the whole of the period under review the company was under the control of Ian Stoddart, director of the company.

2