Company Registration No. 03541805 (England and Wales)
Wessex Fire And Security Limited
Directors' Report and Financial Statements
for the Year Ended 28 February 2022
Pages for Filing with Registrar
Wessex Fire And Security Limited
Contents
Page
Company information
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Balance sheet
8 - 9
Statement of changes in equity
10
Notes to the financial statements
11 - 18
Wessex Fire And Security Limited
Company Information
Page 1
Directors
Mr A Morgan
Mr S Morgan
Mr R Miles
(Appointed 1 June 2022)
Secretary
Mr S Morgan
Company number
03541805
Registered office
Wessex House
Wincombe Lane
Shaftesbury
Dorset
SP7 8PJ
Auditor
Azets Audit Services
37 Commercial Road
Poole
Dorset
BH14 0HU
Wessex Fire And Security Limited
Directors' Report
For the year ended 28 February 2022
Page 2

The directors present their annual report and financial statements for the year ended 28 February 2022.

Principal activities

The principal activity of the company continued to be that of installation and servicing of fire and security systems.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr A Morgan
Mr S Morgan
Mr R Miles
(Appointed 1 June 2022)
Auditor

Azets Audit Services were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr A Morgan
Director
25 August 2022
Wessex Fire And Security Limited
Directors' Responsibilities Statement
For the year ended 28 February 2022
Page 3

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Wessex Fire And Security Limited
Independent Auditor's Report
To the Members of Wessex Fire And Security Limited
Page 4
Opinion

We have audited the financial statements of Wessex Fire and Security Limited (the 'company') for the year ended 28 February 2022 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Wessex Fire And Security Limited
Independent Auditor's Report (Continued)
To the Members of Wessex Fire And Security Limited
Page 5
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.

 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Wessex Fire And Security Limited
Independent Auditor's Report (Continued)
To the Members of Wessex Fire And Security Limited
Page 6

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Andrew John Singleton FCCA (Senior Statutory Auditor)
For and on behalf of Azets Audit Services
Statutory Auditor
37 Commercial Road
Poole
Dorset
BH14 0HU
26 August 2022
Wessex Fire And Security Limited
Profit And Loss Account
For the year ended 28 February 2022
Page 7
2022
2021
£
£
Turnover
7,586,676
6,083,482
Cost of sales
(4,951,787)
(4,008,692)
Gross profit
2,634,889
2,074,790
Administrative expenses
(2,133,234)
(2,351,755)
Other operating income
19,378
418,365
Operating profit
521,033
141,400
Interest receivable and similar income
272
2,182
Interest payable and similar expenses
(5,152)
(3,620)
Profit before taxation
516,153
139,962
Tax on profit
(81,519)
(27,117)
Profit for the financial year
434,634
112,845
Wessex Fire And Security Limited
Balance Sheet
As at 28 February 2022
28 February 2022
Page 8
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
18,298
23,081
Tangible assets
4
442,078
211,637
460,376
234,718
Current assets
Stocks
444,231
627,778
Debtors
5
1,322,862
1,071,675
Cash at bank and in hand
2,706,964
2,901,094
4,474,057
4,600,547
Creditors: amounts falling due within one year
6
(2,281,676)
(2,607,718)
Net current assets
2,192,381
1,992,829
Total assets less current liabilities
2,652,757
2,227,547
Creditors: amounts falling due after more than one year
7
(69,973)
(7,186)
Provisions for liabilities
(27,789)
-
0
Net assets
2,554,995
2,220,361
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
2,554,993
2,220,359
Total equity
2,554,995
2,220,361
Wessex Fire And Security Limited
Balance Sheet (Continued)
As at 28 February 2022
28 February 2022
Page 9

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 and are signed on its behalf by:
Mr A Morgan
Director
25 August 2022
Company Registration No. 03541805
Wessex Fire And Security Limited
Statement of Changes in Equity
For The Year Ended 28 February 2022
Page 10
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 March 2020
2
2,267,514
2,267,516
Year ended 28 February 2021:
Profit and total comprehensive income for the year
-
112,845
112,845
Dividends
-
(160,000)
(160,000)
Balance at 28 February 2021
2
2,220,359
2,220,361
Year ended 28 February 2022:
Profit and total comprehensive income for the year
-
434,634
434,634
Dividends
-
(100,000)
(100,000)
Balance at 28 February 2022
2
2,554,993
2,554,995
Wessex Fire And Security Limited
Notes to the Financial Statements
For the year ended 28 February 2022
Page 11
1
Accounting policies
Company information

Wessex Fire and Security Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wessex House, Wincombe Lane, Shaftesbury, Dorset, SP7 8PJ.

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 amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover 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.

 

In the case of long-term contracts, turnover reflects the contract activity during the year and represents the proportion of total contract value which costs to date bear to total expected contracted costs.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 3 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Software
8 years straight line
Wessex Fire And Security Limited
Notes to the Financial Statements (Continued)
For the year ended 28 February 2022
1
Accounting policies
(Continued)
Page 12
1.5
Tangible fixed assets

Tangible fixed assets 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:

Plant and equipment
25% straight line
Fixtures and fittings
25% straight line
Computers
20% and 25% straight line
Motor vehicles
25% straight line
Mobile phones
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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Work in progress is valued on the basis of direct costs including material and labour. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Wessex Fire And Security Limited
Notes to the Financial Statements (Continued)
For the year ended 28 February 2022
1
Accounting policies
(Continued)
Page 13
1.8
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.

1.9
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 balance sheet 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Wessex Fire And Security Limited
Notes to the Financial Statements (Continued)
For the year ended 28 February 2022
1
Accounting policies
(Continued)
Page 14
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Wessex Fire And Security Limited
Notes to the Financial Statements (Continued)
For the year ended 28 February 2022
1
Accounting policies
(Continued)
Page 15
1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.15
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
77
76
Wessex Fire And Security Limited
Notes to the Financial Statements (Continued)
For the year ended 28 February 2022
Page 16
3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 March 2021 and 28 February 2022
19,500
133,070
152,570
Amortisation and impairment
At 1 March 2021
19,500
109,989
129,489
Amortisation charged for the year
-
0
4,783
4,783
At 28 February 2022
19,500
114,772
134,272
Carrying amount
At 28 February 2022
-
0
18,298
18,298
At 28 February 2021
-
0
23,081
23,081
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2021
18,126
896
55,355
618,460
692,837
Additions
12,313
-
0
25,212
379,665
417,190
Disposals
-
0
-
0
(5,132)
(242,689)
(247,821)
At 28 February 2022
30,439
896
75,435
755,436
862,206
Depreciation and impairment
At 1 March 2021
12,868
896
34,929
432,507
481,200
Depreciation charged in the year
3,666
-
0
14,493
154,466
172,625
Eliminated in respect of disposals
-
0
-
0
(4,673)
(229,024)
(233,697)
At 28 February 2022
16,534
896
44,749
357,949
420,128
Carrying amount
At 28 February 2022
13,905
-
0
30,686
397,487
442,078
At 28 February 2021
5,258
-
0
20,426
185,953
211,637
Wessex Fire And Security Limited
Notes to the Financial Statements (Continued)
For the year ended 28 February 2022
Page 17
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
847,699
834,850
Amounts owed by group undertakings
336,421
66,901
Other debtors
74,856
70,198
Prepayments and accrued income
63,886
72,862
1,322,862
1,044,811
Deferred tax asset
-
0
26,864
1,322,862
1,071,675
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
485,159
728,218
Amounts owed to group undertakings
20,599
72,141
Taxation and social security
298,253
460,363
Other creditors
1,477,665
1,346,996
2,281,676
2,607,718
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Obligations under finance leases
69,973
7,186
8
Called up share capital
2022
2021
Ordinary share capital
£
£
Issued and fully paid
2 Ordinary shares of £1 each
2
2
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2022
2021
£
£
18,474
-
0
Wessex Fire And Security Limited
Notes to the Financial Statements (Continued)
For the year ended 28 February 2022
Page 18
10
Parent company

The company is a wholly owned subsidiary of Wessex Group Limited, a company incorporated in the United Kingdom. Copies of the group accounts can be obtained at the registered office, Wincombe Lane, Shaftesbury, Dorset, SP7 8PJ.

 

The directors do not consider there to be a single ultimate controlling party.

11
Related party transactions
Transactions with related parties

The company is a wholly owned subsidiary of Wessex Group Limited and has taken advantage of the exemption of FRS 102 from disclosing transactions with wholly owned subsidiaries of the group.

The company conducted trade in a normal commercial terms with Salisbury Electricals Limited, a company in which Mr A Morgan, a director, has material interest. During the year purchases from Salisbury Electricals Limited amounted to £39,941 (2021: £nil) and sales amounted to £12,264 (2021: £17,808). The amount due to the company at year end was £nil (2021: £nil).

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