Registered number
08824373
Plymstock Security Systems Ltd
Filleted Accounts
31 December 2024
Plymstock Security Systems Ltd
Registered number: 08824373
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 28,579 30,829
Tangible assets 4 13,890 17,743
42,469 48,572
Current assets
Stocks 50,000 74,824
Debtors 5 29,750 36,009
Cash at bank and in hand 166 157
79,916 110,990
Creditors: amounts falling due within one year 6 (180,881) (129,649)
Net current liabilities (100,965) (18,659)
Total assets less current liabilities (58,496) 29,913
Creditors: amounts falling due after more than one year 7 (14,446) (24,435)
Provisions for liabilities (8,070) (4,495)
Net (liabilities)/assets (81,012) 983
Capital and reserves
Called up share capital 100 100
Profit and loss account (81,112) 883
Shareholders' funds (81,012) 983
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.
Steve Kendall
Director
Approved by the board on 29 September 2025
Plymstock Security Systems Ltd
Notes to the Accounts
for the year ended 31 December 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Good Will 20 years straight line
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:
Office equipment 25% reducing balance method
Computer equipment 25% reducing balance method
Motor vehicles 25% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 45,000
At 31 December 2024 45,000
Amortisation
At 1 January 2024 14,171
Provided during the year 2,250
At 31 December 2024 16,421
Net book value
At 31 December 2024 28,579
At 31 December 2023 30,829
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Computer Equipment Office Equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 4,237 3,643 73,685 81,565
Additions 492 286 - 778
At 31 December 2024 4,729 3,929 73,685 82,343
Depreciation
At 1 January 2024 3,855 3,033 56,934 63,822
Charge for the year 219 224 4,188 4,631
At 31 December 2024 4,074 3,257 61,122 68,453
Net book value
At 31 December 2024 655 672 12,563 13,890
At 31 December 2023 382 610 16,751 17,743
5 Debtors 2024 2023
£ £
Trade debtors 3,291 22,459
Other debtors 26,459 13,550
29,750 36,009
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,000 6,000
Trade creditors 39,638 23,344
Taxation and social security costs 74,096 62,066
Other creditors 61,147 38,239
180,881 129,649
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,120 12,619
Other creditors 8,326 11,816
14,446 24,435
8 Other information
Plymstock Security Systems Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Turnchapel Wharf
Barton Road
Plymouth
Devon
PL9 9RQ
Plymstock Security Systems Ltd 08824373 false 2024-01-01 2024-12-31 2024-12-31 VT Final Accounts April 2025 Steve Kendall No description of principal activity 08824373 2023-01-01 2023-12-31 08824373 core:WithinOneYear 2023-12-31 08824373 core:AfterOneYear 2023-12-31 08824373 core:ShareCapital 2023-12-31 08824373 core:RetainedEarningsAccumulatedLosses 2023-12-31 08824373 2024-01-01 2024-12-31 08824373 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08824373 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 08824373 bus:Director40 2024-01-01 2024-12-31 08824373 1 2024-01-01 2024-12-31 08824373 2 2024-01-01 2024-12-31 08824373 core:Goodwill 2024-01-01 2024-12-31 08824373 core:LandBuildings 2024-01-01 2024-12-31 08824373 core:PlantMachinery 2024-01-01 2024-12-31 08824373 core:Vehicles 2024-01-01 2024-12-31 08824373 countries:England 2024-01-01 2024-12-31 08824373 bus:FRS102 2024-01-01 2024-12-31 08824373 bus:FilletedAccounts 2024-01-01 2024-12-31 08824373 2024-12-31 08824373 core:WithinOneYear 2024-12-31 08824373 core:AfterOneYear 2024-12-31 08824373 core:ShareCapital 2024-12-31 08824373 core:RetainedEarningsAccumulatedLosses 2024-12-31 08824373 core:Goodwill 2024-12-31 08824373 core:LandBuildings 2024-12-31 08824373 core:PlantMachinery 2024-12-31 08824373 core:Vehicles 2024-12-31 08824373 2023-12-31 08824373 core:Goodwill 2023-12-31 08824373 core:LandBuildings 2023-12-31 08824373 core:PlantMachinery 2023-12-31 08824373 core:Vehicles 2023-12-31 iso4217:GBP xbrli:pure