Firesec Compliance Limited 06702659 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is fire equipment sales and servicing. Digita Accounts Production Advanced 6.30.9574.0 true false true 06702659 2022-10-01 2023-09-30 06702659 2023-09-30 06702659 core:CurrentFinancialInstruments 2023-09-30 06702659 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 06702659 core:Non-currentFinancialInstruments 2023-09-30 06702659 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 06702659 core:BetweenTwoFiveYears 2023-09-30 06702659 core:WithinOneYear 2023-09-30 06702659 core:FurnitureFittings 2023-09-30 06702659 core:MotorVehicles 2023-09-30 06702659 core:PlantMachinery 2023-09-30 06702659 bus:SmallEntities 2022-10-01 2023-09-30 06702659 bus:Audited 2022-10-01 2023-09-30 06702659 bus:FilletedAccounts 2022-10-01 2023-09-30 06702659 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 06702659 bus:RegisteredOffice 2022-10-01 2023-09-30 06702659 bus:Director3 2022-10-01 2023-09-30 06702659 bus:Director4 2022-10-01 2023-09-30 06702659 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 06702659 core:FurnitureFittings 2022-10-01 2023-09-30 06702659 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 06702659 core:MotorVehicles 2022-10-01 2023-09-30 06702659 core:PlantMachinery 2022-10-01 2023-09-30 06702659 1 2022-10-01 2023-09-30 06702659 1 2022-10-01 2023-09-30 06702659 countries:EnglandWales 2022-10-01 2023-09-30 06702659 2022-09-30 06702659 core:FurnitureFittings 2022-09-30 06702659 core:MotorVehicles 2022-09-30 06702659 core:PlantMachinery 2022-09-30 06702659 2021-10-01 2022-09-30 06702659 2022-09-30 06702659 core:CurrentFinancialInstruments 2022-09-30 06702659 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 06702659 core:Non-currentFinancialInstruments 2022-09-30 06702659 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 06702659 core:BetweenTwoFiveYears 2022-09-30 06702659 core:WithinOneYear 2022-09-30 06702659 core:FurnitureFittings 2022-09-30 06702659 core:MotorVehicles 2022-09-30 06702659 core:PlantMachinery 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 06702659

Firesec Compliance Limited

Filleted Financial Statements

for the Year Ended 30 September 2023

 

Firesec Compliance Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 9

 

Firesec Compliance Limited

Company Information

Directors

A J Wheal

M L Wheeler

Registered office

4 Swanbridge Industrial Park
Black Croft Road
Witham
Essex
CM8 3YN

Auditors

Clement Rabjohns Limited
Registered Auditors
111/113 High Street
Evesham
Worcestershire
WR11 4XP

 

Firesec Compliance Limited

(Registration number: 06702659)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

33,103

46,492

Current assets

 

Stocks

5

134,471

144,347

Debtors

6

778,214

506,548

Cash at bank and in hand

 

84,237

86,514

 

996,922

737,409

Creditors: Amounts falling due within one year

7

(703,832)

(544,557)

Net current assets

 

293,090

192,852

Total assets less current liabilities

 

326,193

239,344

Creditors: Amounts falling due after more than one year

7

(43,956)

(88,785)

Provisions for liabilities

(5,378)

(1,015)

Net assets

 

276,859

149,544

Capital and reserves

 

Called up share capital

100

100

Retained earnings

276,759

149,444

Shareholders' funds

 

276,859

149,544

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 

.........................................
M L Wheeler
Director

 

Firesec Compliance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Swanbridge Industrial Park
Black Croft Road
Witham
Essex
CM8 3YN
United Kingdom

These financial statements were authorised for issue by the Board on 3 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Name of parent of group

These financial statements are consolidated in the financial statements of EA-RS Group Limited.

The financial statements of EA-RS Group Limited may be obtained from 4 Swanbridge Industrial Park, Black Croft Road, Witham, Essex, CM8 3YN.

Disclosure of long or short period

The company extended its accounting reference date in the prior period, to bring its accounting date in line with other members of the group. Hence the comparatives presented are for the period from 1 September 2021 to 30 September 2022.

Going concern

The financial statements have been prepared on a going concern basis.

 

Firesec Compliance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 3 September 2024 was Philip Parsons FCA, who signed for and on behalf of Clement Rabjohns Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% to 33% straight line

Plant and Machinery

25% straight line

Motor vehicles

25% straight line

 

Firesec Compliance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Firesec Compliance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2022 - 20).

 

Firesec Compliance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2022

87,076

275

4,575

91,926

Additions

15,709

5,016

-

20,725

Disposals

-

-

(4,575)

(4,575)

At 30 September 2023

102,785

5,291

-

108,076

Depreciation

At 1 October 2022

41,774

275

3,385

45,434

Charge for the year

32,107

817

-

32,924

Eliminated on disposal

-

-

(3,385)

(3,385)

At 30 September 2023

73,881

1,092

-

74,973

Carrying amount

At 30 September 2023

28,904

4,199

-

33,103

At 30 September 2022

45,302

-

1,190

46,492

5

Stocks

2023
£

2022
£

Work in progress

14,520

21,189

Finished goods and goods for resale

119,951

123,158

134,471

144,347

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

487,979

456,312

Amounts owed by related parties

256,738

-

Prepayments

 

26,066

21,169

Other debtors

 

7,431

29,067

   

778,214

506,548

7

Creditors

Creditors: amounts falling due within one year

 

Firesec Compliance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

45,000

45,171

Trade creditors

 

243,809

174,236

Amounts owed to group undertakings and undertakings in which the company has a participating interest

115,700

112,608

Taxation and social security

 

195,918

141,889

Accruals and deferred income

 

93,610

62,857

Other creditors

 

9,795

7,796

 

703,832

544,557

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

43,956

88,785

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

43,956

88,785

Current loans and borrowings

2023
£

2022
£

Bank borrowings

45,000

45,171

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

126,985

88,218

Later than one year and not later than five years

261,870

114,733

388,855

202,951

The amount of non-cancellable operating lease payments recognised as an expense during the year was £129,306 (2022 - £79,401).

 

Firesec Compliance Limited

Notes to the Financial Statements for the Year Ended 30 September 2023

10

Financial commitments, guarantees and contingencies

Fixed and floating charges over the assets of the company are held by Ares Management Limited (dated 16 September 2022) and Rockpool (Security Trustee) Limited (dated 24 May 2023), as security for the Group.

11

Parent and ultimate parent undertaking

The company's immediate parent is EA-RS Group Ltd, incorporated in the United Kingdom.

 The ultimate parent is EA-RS Fire Engineering Group Ltd, incorporated in the United Kingdom.

  These financial statements are available upon request from 4 Swanbridge Industrial Park, Black Croft Road, Witham, Essex, CM8 3YN