Company Registration No. 08412462 (England and Wales)
CAMERA ALARM AND MONITORED EVENT REMOTE ALERTING LIMITED
TRADING AS C.A.M.E.R.A
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
CAMERA ALARM AND MONITORED EVENT REMOTE ALERTING LIMITED
TRADING AS C.A.M.E.R.A
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
CAMERA ALARM AND MONITORED EVENT REMOTE ALERTING LIMITED
TRADING AS C.A.M.E.R.A
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Property and equipment
2
139
-
Current assets
Cash and cash equivalents
5,338
5,036
Current liabilities
3
(10,911)
(10,903)
Net current liabilities
(5,573)
(5,867)
Total assets less current liabilities
(5,434)
(5,867)
Net liabilities
(5,434)
(5,867)
Equity
Called up share capital
4
2
2
Retained earnings
(5,436)
(5,869)
Total equity
(5,434)
(5,867)
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 November 2019 and are signed on its behalf by:
Mr K Garner
Mr L Vince
Director
Director
Company Registration No. 08412462
CAMERA ALARM AND MONITORED EVENT REMOTE ALERTING LIMITED
TRADING AS C.A.M.E.R.A
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information
Camera Alarm and Monitored Event Remote Alerting Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Chantry House, 22 Upperton Road, Eastbourne, East Sussex, BN21 1BF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Revenue
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Property and equipment
Property and equipment
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
33% Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
At the balance sheet date, all assets were fully depreciated.
CAMERA ALARM AND MONITORED EVENT REMOTE ALERTING LIMITED
TRADING AS C.A.M.E.R.A
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies (Continued)
- 3 -
1.4
Impairment of non-current assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
CAMERA ALARM AND MONITORED EVENT REMOTE ALERTING LIMITED
TRADING AS C.A.M.E.R.A
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 4 -
2
Property and equipment
Fixtures, fittings & equipment
£
Cost
At 1 April 2018
500
Additions
208
At 31 March 2019
708
Depreciation and impairment
At 1 April 2018
500
Depreciation charged in the year
69
At 31 March 2019
569
Carrying amount
At 31 March 2019
139
At 31 March 2018
-
3
Current liabilities
2019
2018
£
£
Taxation and social security
43
35
Directors Loan Account
10,368
10,368
Accruals and deferred income
500
500
10,911
10,903
4
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2