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REGISTERED NUMBER: 03724210 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

FIRST INTERVENTION TRAINING (F.I.T.) LTD

FIRST INTERVENTION TRAINING (F.I.T.) LTD (REGISTERED NUMBER: 03724210)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FIRST INTERVENTION TRAINING (F.I.T.) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: L Hayes
J Hayes





SECRETARY: L P Hayes





REGISTERED OFFICE: Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW





REGISTERED NUMBER: 03724210 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

FIRST INTERVENTION TRAINING (F.I.T.) LTD (REGISTERED NUMBER: 03724210)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 6,035 6,790
Tangible assets 6 653,970 655,732
660,005 662,522

CURRENT ASSETS
Stocks 15,156 80,536
Debtors 7 1,678,485 1,858,749
Cash at bank and in hand 268,727 408,370
1,962,368 2,347,655
CREDITORS
Amounts falling due within one year 8 1,243,310 1,617,661
NET CURRENT ASSETS 719,058 729,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,379,063

1,392,516

CREDITORS
Amounts falling due after more than one
year

9

(975,885

)

(715,360

)

PROVISIONS FOR LIABILITIES (46,484 ) (32,256 )
NET ASSETS 356,694 644,900

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 355,694 643,900
SHAREHOLDERS' FUNDS 356,694 644,900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

FIRST INTERVENTION TRAINING (F.I.T.) LTD (REGISTERED NUMBER: 03724210)

BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2024 and were signed on its behalf by:




J Hayes - Director



L Hayes - Director


FIRST INTERVENTION TRAINING (F.I.T.) LTD (REGISTERED NUMBER: 03724210)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

First Intervention Training (F.I.T.) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes. Turnover is not recognised when goods or services are exchanged for goods or services that are of a similar nature and value or when the transaction lacks commercial substance.

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with the ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

The percentage of completion method is used to calculate the revenue recognised at the period end.

Turnover from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

FIRST INTERVENTION TRAINING (F.I.T.) LTD (REGISTERED NUMBER: 03724210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 33% on cost and 20% on cost
Motor vehicles - 25% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Stocks
Stocks are valued at the lower of the cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

FIRST INTERVENTION TRAINING (F.I.T.) LTD (REGISTERED NUMBER: 03724210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets/liabilities including trade and other receivables/payables, cash and bank balances, are initially recognised at transaction price unless the arrangement constitutes a financing transaction (loan over period of time) where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Such assets/liabilities are subsequently carried at amortised cost using the effective interest method.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 112 (2022 - 99 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022
and 30 June 2023 7,545
AMORTISATION
At 1 July 2022 755
Charge for year 755
At 30 June 2023 1,510
NET BOOK VALUE
At 30 June 2023 6,035
At 30 June 2022 6,790

FIRST INTERVENTION TRAINING (F.I.T.) LTD (REGISTERED NUMBER: 03724210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 July 2022 619,151 78,600 118,528 284,622 1,100,901
Additions - 18,346 9,343 73,890 101,579
Disposals - - (76,427 ) - (76,427 )
At 30 June 2023 619,151 96,946 51,444 358,512 1,126,053
DEPRECIATION
At 1 July 2022 151,550 19,650 93,919 180,050 445,169
Charge for year 20,665 15,459 18,300 44,616 99,040
Eliminated on disposal - - (72,126 ) - (72,126 )
At 30 June 2023 172,215 35,109 40,093 224,666 472,083
NET BOOK VALUE
At 30 June 2023 446,936 61,837 11,351 133,846 653,970
At 30 June 2022 467,601 58,950 24,609 104,572 655,732

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022 127,975
Additions 73,890
At 30 June 2023 201,865
DEPRECIATION
At 1 July 2022 45,051
Charge for year 39,204
At 30 June 2023 84,255
NET BOOK VALUE
At 30 June 2023 117,610
At 30 June 2022 82,924

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 700,160 960,547
Other debtors 978,325 898,202
1,678,485 1,858,749

FIRST INTERVENTION TRAINING (F.I.T.) LTD (REGISTERED NUMBER: 03724210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 44,373 28,042
Hire purchase contracts 38,406 28,799
Trade creditors 452,155 341,280
Taxation and social security 457,492 899,622
Other creditors 250,884 319,918
1,243,310 1,617,661

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 550,510 603,958
Hire purchase contracts 99,277 65,539
Other creditors 326,098 45,863
975,885 715,360

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 359,354 483,150
Other loans more 5yrs instal 78,668 -
438,022 483,150

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 594,883 632,000
Funding circle 374,150 103,637
969,033 735,637

The bank loan is secured by way of fixed and floating charge over the assets of the company and a personal guarantee by the directors.

The loan from Funding Circle is secured by way of a personal guarantee by the directors, Mr L Hayes and Mr J Hayes.

11. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £78,091 (2022: £42,309).

FIRST INTERVENTION TRAINING (F.I.T.) LTD (REGISTERED NUMBER: 03724210)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
L Hayes
Balance outstanding at start of year 272,047 272,124
Amounts advanced 289,403 244,923
Amounts repaid (289,453 ) (245,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 271,997 272,047

J Hayes
Balance outstanding at start of year 281,975 281,985
Amounts advanced 326,041 244,990
Amounts repaid (326,100 ) (245,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 281,916 281,975

The loans from the company to the directors are unsecured and repayable on demand. Interest was charged at the official rate of interest published by HMRC.