ADVANCED FIRE & SECURITY SYSTEMS LIMITED - Period Ending 2015-06-30

Registration number: SC241752

ADVANCED FIRE & SECURITY SYSTEMS LIMITED

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

A M Scott & Co ., Chartered Accountants
151 KIRKINTILLOCH ROAD
BISHOPBRIGGS
GLASGOW
G64 2LS

ADVANCED FIRE & SECURITY SYSTEMS LIMITED
(Registration number: SC241752)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					40,587			40,567
Current assets
Stocks					2,000			500
Debtors		3			392,436			249,753
Cash at bank and in hand					162,973			137,279
					557,409			387,532
Creditors: Amounts falling due within one year					(150,055)			(94,842)
Net current assets					407,354			292,690
Total assets less current liabilities					447,941			333,257
Provisions for liabilities					(3,637)			(3,984)
Net assets					444,304			329,273
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					444,204			329,173
Shareholders' funds					444,304			329,273

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

ADVANCED FIRE & SECURITY SYSTEMS LIMITED
(Registration number: SC241752)
Abbreviated Balance Sheet at 30 June 2015
......... continued

For the year ending 30 June 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 23 September 2015

.........................................
Mr P Keenan
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
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ADVANCED FIRE & SECURITY SYSTEMS LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

1	Accounting policies

Basis of preparation

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).

Turnover

Turnover represents the value of goods and services chargeable to customers during the year, stated net of value added tax. This includes the fair value of work performed on contracts that had not been completed at the year end, based on their stage of completion, Unbilled turnover on contracts that had not been completed at the balance sheet date is included as "services rendered to be invoiced" within debtors.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% p.a. reducing balance basis
Computer and office equipment	33.3% p.a. straight line basis
Plant and machinery	25% p.a. reducing balance basis
Buildings	4% straight line basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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ADVANCED FIRE & SECURITY SYSTEMS LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		67,244			67,244
Additions		8,447			8,447
Disposals		(4,075)			(4,075)
At 30 June 2015		71,616			71,616
Depreciation
At 1 July 2014		26,677			26,677
Charge for the year		7,883			7,883
Eliminated on disposals		(3,531)			(3,531)
At 30 June 2015		31,029			31,029
Net book value
At 30 June 2015		40,587			40,587
At 30 June 2014		40,567			40,567

3

Debtors

Debtors includes £40,675 (2014 - £nil) receivable after more than one year.

 

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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ADVANCED FIRE & SECURITY SYSTEMS LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

5	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr P Keenan
interest free advances	4,441	-	37,541	6,300

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