Praesum Security Services Limited - Period Ending 2020-06-30

Praesum Security Services Limited - Period Ending 2020-06-30


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Registration number: 10218869

Praesum Security Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2020

 

Praesum Security Services Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Praesum Security Services Limited

Company Information

Director

Mr Einar Scott Merrygold

Registered office

First Floor
Eastgate
Castle Street
Castlefield
Manchester
M3 4LZ

Accountants

Tree Accountancy Limited
Chartered Certified Accountants
First Floor
Eastgate
Castle Street
Castlefield
Manchester
M3 4LZ

 

Praesum Security Services Limited

(Registration number: 10218869)
Balance Sheet as at 30 June 2020

Note

2020
£

2019
£

Fixed assets

 

Tangible assets

4

266

728

Current assets

 

Cash at bank and in hand

 

51,172

45,594

Creditors: Amounts falling due within one year

5

(23,242)

(11,047)

Net current assets

 

27,930

34,547

Net assets

 

28,196

35,275

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

27,996

35,075

Total equity

 

28,196

35,275

For the financial year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 17 November 2020
 

.........................................

Mr Einar Scott Merrygold
Director

 

Praesum Security Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2020

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
First Floor
Eastgate
Castle Street
Castlefield
Manchester
M3 4LZ
United Kingdom

The company's registration number is: 10218869

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Praesum Security Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2020

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2019 - 1).

 

Praesum Security Services Limited

Notes to the Financial Statements for the Year Ended 30 June 2020

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2019

1,848

1,848

At 30 June 2020

1,848

1,848

Depreciation

At 1 July 2019

1,120

1,120

Charge for the year

462

462

At 30 June 2020

1,582

1,582

Carrying amount

At 30 June 2020

266

266

At 30 June 2019

728

728

5

Creditors

Creditors: amounts falling due within one year

2020
£

2019
£

Due within one year

Taxation and social security

22,819

10,628

Accruals and deferred income

70

70

Other creditors

353

349

23,242

11,047