Graphene Security Limited - Accounts to registrar (filleted) - small 18.2
Graphene Security Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
GRAPHENE SECURITY LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2018 |
GRAPHENE SECURITY LIMITED (REGISTERED NUMBER: 09624854) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
GRAPHENE SECURITY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Exchange |
5 Bank Street |
Bury |
BL9 0DN |
GRAPHENE SECURITY LIMITED (REGISTERED NUMBER: 09624854) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2018 |
2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Property, plant and equipment | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
GRAPHENE SECURITY LIMITED (REGISTERED NUMBER: 09624854) |
STATEMENT OF FINANCIAL POSITION - continued |
31 OCTOBER 2018 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors on |
GRAPHENE SECURITY LIMITED (REGISTERED NUMBER: 09624854) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
1. | STATUTORY INFORMATION |
Graphene Security Limited is a private company, limited by shares, registered in England and Wales. The |
company's registered number is 09624854 and registered office address is The Exchange, 5 Bank Street, Bury, |
Lancashire, BL9 0DN. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors are of the opinion that the company is a going concern and have prepared the financial statements |
on that basis, no adjustments have been made should this not ultimately be the case. |
Development costs |
The company only capitalises development expenditure in the statement of financial position when it satisfies the |
general recognition criteria of FRS 102. |
Amortisation is provided on a straight line basis over a period of five years in order to write off the asset over its |
estimated useful life, commencing when the asset has been brought into use. |
Property, plant and equipment |
Plant and machinery etc | - |
The residual values, estimated useful lives and depreciation method of property, plant and equipment are |
reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision |
are recognised in the income statement when the change arises. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
GRAPHENE SECURITY LIMITED (REGISTERED NUMBER: 09624854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
2. | ACCOUNTING POLICIES - continued |
Research and development |
Research and development expenditure is charged to the income statement in the year incurred unless it meets |
the recognition criteria under FRS102 section 18 for deferring to future periods. When the recognition criteria |
have been met any development expenditure is deferred to the extent that it is probable that the expected future |
economic benefits that are attributable to the asset will flow to the entity. |
Foreign currencies |
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate |
of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
parties and loans to related parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised |
in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, |
being the transaction price less any amounts settled. |
Critical accounting estimates and judgements |
In the application of the company's accounting policies, the directors are required to make estimates and |
judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ |
from these estimates. |
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which |
the estimate is revised. |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying |
amount of assets and liabilities are outlined below. |
Estimating the useful economic life of an asset and the anticipated residual value are considered key judgement |
in calculating an appropriate depreciation charge. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
GRAPHENE SECURITY LIMITED (REGISTERED NUMBER: 09624854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 November 2017 |
and 31 October 2018 |
AMORTISATION |
At 1 November 2017 |
Charge for year |
At 31 October 2018 |
NET BOOK VALUE |
At 31 October 2018 |
At 31 October 2017 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2017 |
and 31 October 2018 |
DEPRECIATION |
At 1 November 2017 |
Charge for year |
At 31 October 2018 |
NET BOOK VALUE |
At 31 October 2018 |
At 31 October 2017 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 31 October 2018 |
NET BOOK VALUE |
At 31 October 2018 |
GRAPHENE SECURITY LIMITED (REGISTERED NUMBER: 09624854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2018 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Other creditors |