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APEX SECURITY ENGINEERING LIMITED
REGISTERED NUMBER: 02727620
ABBREVIATED BALANCE SHEET
AS AT 31 DECEMBER 2014
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question 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 for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2014 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 18 June 2015.
The notes on pages 2 to 4 form part of these abbreviated accounts.
- 1 -
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APEX SECURITY ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
1.Accounting Policies
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Short term leasehold property
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Over the period of the lease
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15% reducing balance basis
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15% reducing balance basis
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Investments held as fixed assets are shown at cost less provision for impairment.
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Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
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- 2 -
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APEX SECURITY ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
1.Accounting Policies (continued)
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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Provision is recognised for warranty claims on products sold in the last three financial years where the expenditure is expected to be incurred within two years of the balance sheet date.
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2.Tangible fixed assets
- 3 -
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APEX SECURITY ENGINEERING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
3.Fixed asset investments
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At 1 January 2014 and 31 December 2014
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At 1 January 2014 and 31 December 2014
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The company holds the whole of the issued share capital of the dormant subsidiaries Apex Security Furniture Limited and Security Logistics Limited.
4.Share capital
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Allotted, called up and fully paid
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58 Ordinary A shares of £1 each
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27 Oridinary B shares of £1 each
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5 Ordinary C shares of £1 each
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10 Ordinary D shares of £1 each
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The different classes of shares rank equally for the purposes of dividends, capital and voting rights.
5.Directors' benefits: advances, credit and guarantees
At 31 December 2014 an amount of £20,859 (2013: £20,859) was due from K.N. Woods, the balance remaining unchanged throughout the year. £30,400 (2013: £19,000) was due from S. Burns, £6,000 being advanced on 30 January 2014 and £5,400 on 6 March 2014. Both advances are unsecured and interest free.
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