Registered number
06330365
Cycad Security Ltd
Report and Unaudited Accounts
Year ended 31 August 2013
Cycad Security Ltd
Report and accounts
Year ended 31 August 2013
Contents Page
Company information (non statutory) 1
Directors' report 2
Accountants' report (non statutory) 3
Profit and loss account 4
Balance sheet 5
Notes to the accounts 6 to 8
Detailed profit and loss account (non statutory) 9 to 10
Cycad Security Ltd Registered number:
Directors' Report 06330365
The directors present their report and accounts for the year ended 31 August 2013.
Principal activities
The company continued in business as a security company.
Directors
The following persons served as directors during the year:
A T Bush
J D Tyler
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 10 April 2014 and signed on its behalf.
A T Bush
Director
Cycad Security Ltd
Profit and Loss Account
for the year ended 31 August 2013
Notes 2013 2012
£ £
Turnover 1 149,157 100,280
Cost of sales (68,297) (51,494)
Gross profit 80,860 48,786
Administrative expenses (31,497) (25,650)
Operating profit 2 49,363 23,136
Profit on ordinary activities before taxation 49,363 23,136
Tax on profit on ordinary activities 3 (9,752) (4,842)
Profit for the financial year 8 39,611 18,294
Cycad Security Ltd Registered number:
Balance Sheet 06330365
as at 31 August 2013
Notes 2013 2012
£ £ £ £
Fixed assets
Tangible assets 4 1,166 1,339
Current assets
Debtors 5 31,034 16,349
Cash at bank and in hand 14,037 9,964
45,071 26,313
Creditors: amounts falling due within one year 6 (28,744) (25,770)
Net current assets 16,327 543
Net assets 17,493 1,882
Capital and reserves
Called up share capital 7 100 100
Profit and loss account 8 17,393 1,782
Shareholders' funds 17,493 1,882
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.
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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
A T Bush
Director
Approved by the board on 10 April 2014
Cycad Security Ltd
Notes to the Accounts
for the year ended 31 August 2013
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. Where a contract extends beyond the year end then the appropriate amount of income relating to that post year end period is deferred.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipment 25% reducing balance method
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
2 Operating profit 2013 2012
£ £
This is stated after charging:
Depreciation of owned fixed assets 388 446
Directors' remuneration 12,867 4,583
3 Taxation 2013 2012
£ £
UK corporation tax 9,752 4,842
4 Tangible fixed assets
Equipment
£
Cost
At 1 September 2012 4,455
Additions 215
At 31 August 2013 4,670
Depreciation
At 1 September 2012 3,116
Charge for the year 388
At 31 August 2013 3,504
Net book value
At 31 August 2013 1,166
At 31 August 2012 1,339
5 Debtors 2013 2012
£ £
Trade debtors 12,290 6,992
Other debtors 18,744 9,357
31,034 16,349
6 Creditors: amounts falling due within one year 2013 2012
£ £
Trade creditors 6,713 6,693
Corporation tax 9,966 4,842
Other taxes and social security costs 4,646 4,385
Other creditors 7,419 9,850
28,744 25,770
7 Share capital Nominal 2013 2013 2012
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
8 Profit and loss account 2013
£
At 1 September 2012 1,782
Profit for the year 39,611
Dividends (24,000)
At 31 August 2013 17,393
9 Dividends 2013 2012
£ £
Dividends for which the company became liable during the year:
Dividends paid 24,000 18,000
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A T Bush
Owing (by) to director (4,589) (16,500) 13,040 (8,049)
J D Tyler
Owing (by) to director (4,235) (16,500) 13,040 (7,695)
(8,824) (33,000) 26,080 (15,744)
11 Ultimate controlling party
The company is under the control of the directors.
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