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COMPANY REGISTRATION NUMBER: 08392150
Fire Risk Management Associates Limited
Filleted Unaudited Financial Statements
For the year ended
28 February 2023
Fire Risk Management Associates Limited
Financial Statements
Year ended 28 February 2023
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
Fire Risk Management Associates Limited
Statement of Financial Position
28 February 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
768,087
743,665
Current assets
Debtors
6
228,864
186,590
Cash at bank and in hand
183,652
556,523
---------
---------
412,516
743,113
Creditors: amounts falling due within one year
7
78,232
127,711
---------
---------
Net current assets
334,284
615,402
------------
------------
Total assets less current liabilities
1,102,371
1,359,067
Provisions
Deferred taxation
22,093
15,960
------------
------------
Net assets
1,080,278
1,343,107
------------
------------
Capital and reserves
Called up share capital
103
103
Capital redemption reserve
200
200
Profit and loss account
1,079,975
1,342,804
------------
------------
Shareholders funds
1,080,278
1,343,107
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Fire Risk Management Associates Limited
Statement of Financial Position (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 20 November 2023 , and are signed on behalf of the board by:
J V Ruane
Director
Company registration number: 08392150
Fire Risk Management Associates Limited
Notes to the Financial Statements
Year ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Townsend Farm, High Street, Upwood, Huntingdon, PE26 2QE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in UK sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered and goods supplied, stated net of discounts and of Value Added Tax. Turnover in respect of services rendered is recognised with reference to the work done in the year or the stage of completion at the year end. With the sale of goods, turnover is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually this is on despatch of the goods.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
0% - 10% straight line per annum
Plant and machinery
-
25% straight line per annum
Fixtures and fittings
-
15% reducing balance per annum
Motor vehicles
-
25% straight line per annum
Defined contribution pension plans
The company makes defined benefit contributions on behalf of the employees and the directors to registered pension schemes. The pension cost represents contributions payable in the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 8 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2022
703,706
40,540
46,255
14,795
805,296
Additions
36,320
250
36,570
Disposals
( 859)
( 859)
---------
--------
--------
--------
---------
At 28 February 2023
740,026
39,931
46,255
14,795
841,007
---------
--------
--------
--------
---------
Depreciation
At 1 March 2022
3,296
30,415
16,125
11,795
61,631
Charge for the year
1,800
5,427
4,420
11,647
Disposals
( 358)
( 358)
---------
--------
--------
--------
---------
At 28 February 2023
5,096
35,484
20,545
11,795
72,920
---------
--------
--------
--------
---------
Carrying amount
At 28 February 2023
734,930
4,447
25,710
3,000
768,087
---------
--------
--------
--------
---------
At 28 February 2022
700,410
10,125
30,130
3,000
743,665
---------
--------
--------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
152,417
113,648
Other debtors
76,447
72,942
---------
---------
228,864
186,590
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,164
Social security and other taxes
39,809
105,393
Other creditors
38,423
17,154
--------
---------
78,232
127,711
--------
---------
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
22,093
15,960
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
22,093
15,960
--------
--------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2023
2022
£
£
Not later than 1 year
16,922
16,922
Later than 1 year and not later than 5 years
67,686
67,686
Later than 5 years
73,327
90,248
---------
---------
157,935
174,856
---------
---------
10. Directors' advances, credits and guarantees
The directors maintain a loan account with the company. At the beginning of the year the company owed the directors £193 (2022 £470). During the year there were advances to the directors of £143,506 (2022 £137,876) and repayments of £163,984 (2022 £137,600) . At the reporting date the company owed the directors £20,671 (2022 £194). During the year £Nil of interest was charged (2022 £177) and no amounts were written off (2022 £Nil).