First City Fire And Security Limited - Limited company accounts 18.2

REGISTERED NUMBER: 02619045 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2018 TO 31 DECEMBER 2018

FOR

FIRST CITY FIRE AND SECURITY LIMITED

Page

Company Information

1

Report of the Director

2

Abridged Income Statement

3

Abridged Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

J Welsh

REGISTERED OFFICE:

A2 Lingard Court

Lingard Lane

Bredbury

Stockport

Cheshire

SK6 2QU

REGISTERED NUMBER:

02619045 (England and Wales)

ACCOUNTANTS:

Moss & Williamson Limited

Chartered Accountants

3 Mellor Road

Cheadle Hulme

Cheadle

Cheshire

SK8 5AT

The director presents his report with the financial statements of the company for the period 1 April 2018 to 31 December 2018.

DIRECTOR

J Welsh held office during the whole of the period from 1 April 2018 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

J Welsh - Director

27 September 2019

GROSS PROFIT

438,662

549,630

Administrative expenses

(281,489

)

(387,943

)

OPERATING PROFIT

5

157,173

161,687

Interest payable and similar expenses

(18,663

)

(33,064

)

PROFIT BEFORE TAXATION

138,510

128,623

Tax on profit

(25,699

)

(11,391

)

PROFIT FOR THE FINANCIAL PERIOD

112,811

117,232

FIXED ASSETS

Tangible assets

6

19,151

21,200

CURRENT ASSETS

Stocks

366,125

165,467

Debtors

652,024

641,133

Cash at bank

30,757

13,070

1,048,906

819,670

CREDITORS

Amounts falling due within one year

(626,039

)

(458,756

)

NET CURRENT ASSETS

422,867

360,914

TOTAL ASSETS LESS CURRENT LIABILITIES

442,018

382,114

CREDITORS

Amounts falling due after more than one year

(166,473

)

(169,380

)

NET ASSETS

275,545

212,734

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Retained earnings

260,545

197,734

SHAREHOLDERS' FUNDS

275,545

212,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

The financial statements were approved by the director on 27 September 2019 and were signed by:

J Welsh - Director

1.	STATUTORY INFORMATION

First City Fire And Security Limited 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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.

Fixtures & equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the period 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

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 period 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 obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 (2018 - 15 ) .

5.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.4.18

to

Year Ended

31.12.18

31.3.18

£

£

Depreciation - owned assets

1,325

2,098

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

100,593

Additions

1,204

At 31 December 2018

101,797

DEPRECIATION

At 1 April 2018

79,393

Charge for period

3,253

At 31 December 2018

82,646

NET BOOK VALUE

At 31 December 2018

19,151

At 31 March 2018

21,200

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 April 2018

and 31 December 2018

32,500

DEPRECIATION

At 1 April 2018

22,217

Charge for period

1,928

At 31 December 2018

24,145

NET BOOK VALUE

At 31 December 2018

8,355

At 31 March 2018

10,283

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2018

2018

£

£

Net obligations repayable:

Within one year

12,200

4,950

Between one and five years

-

11,300

12,200

16,250

Non-cancellable

operating leases

2018

2018

£

£

Within one year

27,123

41,420

Between one and five years

35,737

27,629

In more than five years

264

134

63,124

69,183

8.	DEFERRED TAX

£

Balance at 1 April 2018

(3,310

)

Charge to Abridged Income Statement during period

131

Balance at 31 December 2018

(3,179

)

9.	RELATED PARTY DISCLOSURES

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.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is J Welsh.