NEScotland Fire Risk Assessors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC558831 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

FOR

NESCOTLAND FIRE RISK ASSESSORS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

Mr G A Gray

Mrs K Gray

REGISTERED OFFICE:

Offices 1 & 8, Unit 1A

Burghmuir Circle

Blackhall Industrial Estate

Inverurie

Aberdeenshire

AB51 4FS

REGISTERED NUMBER:

SC558831 (Scotland)

ACCOUNTANTS:

Acumen Accountants and Advisors Limited

Unit 1, Office 1 & 8

Blackhall Industrial Estate

Burghmuir Circle

Inverurie

Aberdeenshire

AB51 4FS

FIXED ASSETS

Tangible assets

5

319

698

CURRENT ASSETS

Debtors

6

3,084

1,972

Cash at bank

10,885

7,534

13,969

9,506

CREDITORS

Amounts falling due within one year

7

6,659

8,724

NET CURRENT ASSETS

7,310

782

TOTAL ASSETS LESS CURRENT LIABILITIES

7,629

1,480

PROVISIONS FOR LIABILITIES

61

133

NET ASSETS

7,568

1,347

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

7,468

1,247

SHAREHOLDERS' FUNDS

7,568

1,347

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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.

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 31 May 2022 and were signed on its behalf by:

Mr G A Gray - Director

1.	STATUTORY INFORMATION

NEScotland Fire Risk Assessors Ltd is a private company, limited by shares , registered in Scotland. 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

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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the carrying value of the asset and is included in the profit and loss account.

Taxation

Taxation for the year/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 year/period end and that are expected to apply to the reversal of the timing differences.

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.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans, are initially recognised at transaction price and are subsequently carried at amortised cost.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

Provisions

Provisions are recognised when the Company has an obligation at the reporting date as a result of a past event which it is probable will result in the transfer of economic benefits and that obligation can be estimated reliably.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2021

10,195

1,218

11,413

Disposals

-

(539

)

(539

)

At 28 February 2022

10,195

679

10,874

DEPRECIATION

At 1 March 2021

9,982

733

10,715

Charge for year

213

166

379

Eliminated on disposal

-

(539

)

(539

)

At 28 February 2022

10,195

360

10,555

NET BOOK VALUE

At 28 February 2022

-

319

319

At 28 February 2021

213

485

698

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

3,084

1,902

Prepayments

-

70

3,084

1,972

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Tax

2,470

1,205

VAT

1,488

996

Directors' current accounts

1,926

5,748

Accrued expenses

775

775

6,659

8,724

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

50

Ordinary

£1

50

50

50

Ordinary

£1

50

50

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2022 and 28 February 2021:

2022

2021

£

£

Mr G A Gray

Balance outstanding at start of year

(3,580

)

(658

)

Amounts advanced

1,761

-

Amounts repaid

-

(2,922

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,819

)

(3,580

)

Mrs K Gray

Balance outstanding at start of year

(2,168

)

(854

)

Amounts advanced

2,063

-

Amounts repaid

-

(1,314

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(105

)

(2,168

)

These amounts bear no interest and have no fixed repayment terms.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are both the directors Gordon Gray and Kathleen Gray, the shareholders of NEScotland Fire Risk Assessors Ltd.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NEScotland Fire Risk Assessors Ltd for the year ended 28 February 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of NEScotland Fire Risk Assessors Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NEScotland Fire Risk Assessors Ltd and state those matters that we have agreed to state to the Board of Directors of NEScotland Fire Risk Assessors Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that NEScotland Fire Risk Assessors Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NEScotland Fire Risk Assessors Ltd. You consider that NEScotland Fire Risk Assessors Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of NEScotland Fire Risk Assessors Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Acumen Accountants and Advisors Limited

Unit 1, Office 1 & 8

Blackhall Industrial Estate

Burghmuir Circle

Inverurie

Aberdeenshire

AB51 4FS

31 May 2022