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Status Security Systems Ltd
For the year ended 31 January 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04144613
2
Contents Page
Status Security Systems Ltd
For the year ended 31 January 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Status Security Systems Ltd
Chartered Accountants' Report
For the year ended 31 January 2016
Chartered Accountants' Report to the Board of Directors
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the
accounts of Status Security Systems Ltd for the year ended 31 January 2016 which comprise the Profit and Loss
Account, the Balance Sheet and the related notes from the company's accounting records and from information
and explanations you have given us.
As a practising firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its
ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Status Security Systems Ltd, as a body, in accordance with
the terms of our engagement letter dated 25 March 2016. Our work has been undertaken solely to prepare for your
approval the accounts of Status Security Systems Ltd and state those matters that we have agreed to state to the
Board of Directors of Status Security Systems Ltd, as a body, in this report in accordance with AAF 2/10 as detailed
at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than Status Security Systems Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Status Security Systems Ltd has kept adequate accounting records to prepare
statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Status
Security Systems Ltd. You consider that Status Security Systems Ltd is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Status Security Systems Ltd. For
this reason, we have not verified the accuracy or completeness of the accounting records or information and
explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Brewster & Co.
5a Station Terrace
East Boldon
Tyne & Wear
NE36 0LJ
25 March 2016
Dated:
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4
Abbreviated Balance Sheet
Status Security Systems Ltd
As at 31 January 2016
04144613
Registered Number :
£
£
2016
Notes
2015
Fixed assets
Tangible assets
2
4,720
6,293
4,720
6,293
Current assets
Stocks
31,797
40,372
Debtors
75,608
35,062
Cash at bank and in hand
23
3,635
75,457
111,040
Creditors: amounts falling due within one year
3
(116,931)
(72,413)
(5,891)
3,044
Net current assets
Total assets less current liabilities
7,764
402
Creditors: amounts falling due after more than one year
4
-
(6,875)
-
(620)
Provisions for liabilities
889
Net assets/liabilities
(218)
Capital and reserves
Called up share capital
100
5
100
Profit and loss account
789
(318)
889
(218)
Shareholders funds
For the year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Date approved by the board: 25 March 2016
Mr Ian Peddie Director
Signed on behalf of the board of directors
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5
Notes to the Abbreviated Financial Statements
Status Security Systems Ltd
For the year ended 31 January 2016
1 Accounting Policies
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 method giving a constant rate of return on the balance outstanding.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, 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:
Motor Vehicles
25% Reducing balance
Fixtures and Fittings
25% Reducing balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets
and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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6
Notes to the Abbreviated Financial Statements
Status Security Systems Ltd
For the year ended 31 January 2016
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
70,453
At 01 February 2015
At 31 January 2016
70,453
Depreciation
64,160
At 01 February 2015
1,573
Charge for year
65,733
At 31 January 2016
Net book values
At 31 January 2016
4,720
6,293
At 31 January 2015
2016
3 Creditors: amounts falling due within one year
£
£
2015
2,500
-
Bank loans and overdrafts (secured)
2015
2016
4 Creditors due after more than one year
£
£
6,875
-
Bank loans and overdrafts (secured)
5 Share capital
Allotted called up and fully paid
2016
2015
£
£
100 Ordinary shares of £1.00 each
100
100
100
100
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