Guardforce Security Services Limited - Accounts to registrar (filleted) - small 18.2

Guardforce Security Services Limited - Accounts to registrar (filleted) - small 18.2

GUARDFORCE SECURITY SERVICES LIMITED - Company Information

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REGISTERED NUMBER: 02879868 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

GUARDFORCE SECURITY SERVICES LIMITED
GUARDFORCE SECURITY SERVICES LIMITED (REGISTERED NUMBER: 02879868)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

GUARDFORCE SECURITY SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2019







DIRECTORS: M Iqbal
E Watts





REGISTERED OFFICE: Guardforce House
Dukes Yard, Shakespeare Industrial Est.
Acme Road
Watford
WD24 5AL





REGISTERED NUMBER: 02879868 (England and Wales)





ACCOUNTANTS: Gill & Company
248 Church Lane
Kingsbury
London
NW9 8SL
Page 1
GUARDFORCE SECURITY SERVICES LIMITED (REGISTERED NUMBER: 02879868)

BALANCE SHEET
31 DECEMBER 2019

2019 2018
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,465 28,013

CURRENT ASSETS
Stocks 113,486 149,637
Debtors 5 145,444 118,402
Cash at bank 89,277 76,925
348,207 344,964
CREDITORS
Amounts falling due within one year 6 203,499 247,904
NET CURRENT ASSETS 144,708 97,060
TOTAL ASSETS LESS CURRENT
LIABILITIES
153,173
125,073

PROVISIONS FOR LIABILITIES 20 -
NET ASSETS 153,153 125,073

The notes form part of these financial statements

Page 2 continued...
GUARDFORCE SECURITY SERVICES LIMITED (REGISTERED NUMBER: 02879868)

BALANCE SHEET - continued
31 DECEMBER 2019

2019 2018
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 152,953 124,873
SHAREHOLDERS' FUNDS 153,153 125,073

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 4 June 2020 and were signed on its behalf by:





M Iqbal - Director


The notes form part of these financial statements

Page 3
GUARDFORCE SECURITY SERVICES LIMITED (REGISTERED NUMBER: 02879868)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019

1. STATUTORY INFORMATION

Guardforce Security Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable for provision of services, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.


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GUARDFORCE SECURITY SERVICES LIMITED (REGISTERED NUMBER: 02879868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2018 - 52 ) .

Page 5 continued...
GUARDFORCE SECURITY SERVICES LIMITED (REGISTERED NUMBER: 02879868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2019 117,170
Additions 4,300
Disposals (37,735 )
At 31 December 2019 83,735
DEPRECIATION
At 1 January 2019 89,157
Charge for year 2,116
Eliminated on disposal (16,003 )
At 31 December 2019 75,270
NET BOOK VALUE
At 31 December 2019 8,465
At 31 December 2018 28,013

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2019 2018
£    £   
Trade debtors 140,495 112,595
Other debtors 4,949 5,807
145,444 118,402

Page 6 continued...
GUARDFORCE SECURITY SERVICES LIMITED (REGISTERED NUMBER: 02879868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2019

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2019 2018
£    £   
Trade creditors 18,301 23,895
Taxation and social security 102,211 124,889
Other creditors 82,987 99,120
203,499 247,904

7. ULTIMATE CONTROLLING PARTY

The company is controlled by Mr. M Iqbal and Mr. E Watts who each owns 45% of the issued share capital.

Page 7
GUARDFORCE SECURITY SERVICES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
GUARDFORCE SECURITY SERVICES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2019 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Gill & Company
248 Church Lane
Kingsbury
London
NW9 8SL


4 June 2020

This page does not form part of the statutory financial statements

Page 8