Cycad Security Ltd

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.