Company registration number 04157853 (England and Wales)
CENTURY FIRE AND SECURITY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
CENTURY FIRE AND SECURITY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CENTURY FIRE AND SECURITY LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 1 -
2023
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
665,391
597,110
Current assets
Stocks
304,379
309,013
Debtors
5
396,808
473,540
Cash at bank and in hand
180,282
295,789
881,469
1,078,342
Creditors: amounts falling due within one year
6
(319,473)
(327,664)
Net current assets
561,996
750,678
Total assets less current liabilities
1,227,387
1,347,788
Creditors: amounts falling due after more than one year
7
(503,467)
(560,865)
Provisions for liabilities
(10,361)
(13,295)
Net assets
713,559
773,628
Capital and reserves
Called up share capital
102
101
Profit and loss reserves
713,457
773,527
Total equity
713,559
773,628

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 January 2023 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.

The members have not required the company to obtain an audit of its financial statements for the period 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.

CENTURY FIRE AND SECURITY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2023
31 January 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 October 2023 and are signed on its behalf by:
Mr Darren Pearshouse
Director
Company Registration No. 04157853
CENTURY FIRE AND SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2023
- 3 -
1
Accounting policies
Company information

Century Fire and Security Limited is a private company limited by shares incorporated in England and Wales. The registered office is Century House, Goliath Road, Coalville, Leicestershire, LE673FT.

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. 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.

 

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

1.3
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:

Freehold land and buildings
not depreciated
Plant and equipment
25% reducing balance
Fixtures and fittings
15% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance

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.

1.4
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

CENTURY FIRE AND SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 4 -
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
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.

 

 

1.7
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CENTURY FIRE AND SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2023
- 5 -
3
Employees

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

2023
2021
Number
Number
Total
20
2
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2021
383,250
327,619
710,869
Additions
-
0
181,816
181,816
At 31 January 2023
383,250
509,435
892,685
Depreciation and impairment
At 1 December 2021
-
0
113,759
113,759
Depreciation charged in the period
-
0
113,535
113,535
At 31 January 2023
-
0
227,294
227,294
Carrying amount
At 31 January 2023
383,250
282,141
665,391
At 30 November 2021
383,250
213,860
597,110
5
Debtors
2023
2021
Amounts falling due within one year:
£
£
Trade debtors
315,724
277,206
Corporation tax recoverable
58,487
58,487
Other debtors
13,524
118,408
Prepayments and accrued income
9,073
19,439
396,808
473,540
CENTURY FIRE AND SECURITY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2021
£
£
Bank loans and overdrafts
59,191
61,279
Obligations under finance leases
74,199
34,927
Trade creditors
115,868
69,718
Corporation tax
2,731
-
0
Other taxation and social security
43,834
140,064
Other creditors
19,700
17,976
Accruals and deferred income
3,950
3,700
319,473
327,664
7
Creditors: amounts falling due after more than one year
2023
2021
£
£
Bank loans and overdrafts
360,553
426,610
Other creditors
142,914
134,255
503,467
560,865
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