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. |