Company registration number 04491330 (England and Wales)
FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
70,551
86,746
Current assets
Inventories
11,337
8,025
Trade and other receivables
4
2,911,288
2,278,569
Cash and cash equivalents
25,616
176,733
2,948,241
2,463,327
Current liabilities
5
(849,994)
(549,687)
Net current assets
2,098,247
1,913,640
Total assets less current liabilities
2,168,798
2,000,386
Non-current liabilities
6
(76,266)
(135,688)
Provisions for liabilities
-
0
(1,048)
Net assets
2,092,532
1,863,650
Equity
Called up share capital
1,000
1,000
Retained earnings
2,091,532
1,862,650
Total equity
2,092,532
1,863,650

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 23 November 2023
D Eden
Director
Company Registration No. 04491330
FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

First Response Training and Consultancy Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bank House, 5 High Street, Pershore, Worcestershire, United Kingdom, WR10 1AA.

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
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.

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Property, plant and equipment

Property, plant 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:

Leasehold improvements
straight line on cost over 15 years
Plant and machinery
20% on reducing balance and 10% on cost
Fixtures, fittings & equipment
straight line on cost over 15 years
Computer equipment
between 20% and 25% on cost
Motor vehicles
25% on 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.

FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
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.

1.5
Inventories

Inventories 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 inventories to their present location and condition.

 

Inventories 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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories 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.

1.6
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.

1.7
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.

Basic financial assets

Basic financial assets, which include trade and other receivables 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.

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.

FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including trade and other payables, 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
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.

1.9
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 income statement 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 income statement, 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.

1.10
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
1.11
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 non-current 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.

1.12
Retirement benefits

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

1.13
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 statement of financial position 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.

1.14
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.15

Related parties

The company has taken advantage of exemption under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’, not to disclose related party transactions with wholly owned subsidiaries within the group.

2
Employees

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

2023
2022
Number
Number
Total
81
98
FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
3
Property, plant and equipment
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2022
3,103
398,350
401,453
Additions
-
0
20,535
20,535
Disposals
(3,103)
(227,013)
(230,116)
At 31 March 2023
-
0
191,872
191,872
Depreciation and impairment
At 1 April 2022
1,271
313,436
314,707
Depreciation charged in the year
1,832
34,898
36,730
Eliminated in respect of disposals
(3,103)
(227,013)
(230,116)
At 31 March 2023
-
0
121,321
121,321
Carrying amount
At 31 March 2023
-
0
70,551
70,551
At 31 March 2022
1,832
84,914
86,746
4
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Trade receivables
310,989
297,210
Amounts owed by group undertakings
2,507,005
1,910,028
Other receivables
93,294
71,331
2,911,288
2,278,569
5
Current liabilities
2023
2022
£
£
Bank loans and overdrafts
78,771
47,112
Trade payables
122,874
39,577
Amounts owed to group undertakings
196,810
-
0
Corporation tax
116,088
80,875
Other taxation and social security
109,135
171,627
Other payables
226,316
210,496
849,994
549,687

Amounts owed under finance leases included within other payables and totalling £8,749 (2022: £8,946) are secured against the assets to which they relate.

FIRST RESPONSE TRAINING AND CONSULTANCY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
6
Non-current liabilities
2023
2022
£
£
Bank loans and overdrafts
76,266
126,939
Other payables
-
0
8,749
76,266
135,688

Amounts owed under finance leases included within other payables and totalling £Nil (20228,749) are secured against the assets to which they relate.

7
Borrowings
2023
2022
£
£
Bank loans
125,844
174,051
Bank overdrafts
29,193
-
0
155,037
174,051
Payable within one year
78,771
47,112
Payable after one year
76,266
126,939

The loans and borrowings are secured over fixed and floating charges over the company's assets.

 

8
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:

2023
2022
£
£
61,151
14,867
9
Parent company

The parent company of First Response Training and Consultancy Services Limited is Spirit Ventures Limited and its registered office is Bank House, 5 High Street, Pershore, Worcestershire, WR10 1AA.

 

2023-03-312022-04-01false23 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityD Edenfalse044913302022-04-012023-03-31044913302023-03-31044913302022-03-3104491330core:LandBuildings2023-03-3104491330core:OtherPropertyPlantEquipment2023-03-3104491330core:LandBuildings2022-03-3104491330core:OtherPropertyPlantEquipment2022-03-3104491330core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3104491330core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3104491330core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3104491330core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3104491330core:CurrentFinancialInstruments2023-03-3104491330core:CurrentFinancialInstruments2022-03-3104491330core:Non-currentFinancialInstruments2023-03-3104491330core:Non-currentFinancialInstruments2022-03-3104491330core:ShareCapital2023-03-3104491330core:ShareCapital2022-03-3104491330core:RetainedEarningsAccumulatedLosses2023-03-3104491330core:RetainedEarningsAccumulatedLosses2022-03-3104491330bus:Director12022-04-012023-03-3104491330core:LeaseholdImprovements2022-04-012023-03-3104491330core:PlantMachinery2022-04-012023-03-3104491330core:FurnitureFittings2022-04-012023-03-3104491330core:ComputerEquipment2022-04-012023-03-3104491330core:MotorVehicles2022-04-012023-03-31044913302021-04-012022-03-3104491330core:LandBuildings2022-03-3104491330core:OtherPropertyPlantEquipment2022-03-31044913302022-03-3104491330core:LandBuildings2022-04-012023-03-3104491330core:OtherPropertyPlantEquipment2022-04-012023-03-3104491330core:WithinOneYear2023-03-3104491330core:WithinOneYear2022-03-3104491330bus:PrivateLimitedCompanyLtd2022-04-012023-03-3104491330bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3104491330bus:FRS1022022-04-012023-03-3104491330bus:AuditExemptWithAccountantsReport2022-04-012023-03-3104491330bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP