Trustee Fire and Security Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01407171 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Trustee Fire and Security Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Toomey

T J Matthews

REGISTERED OFFICE:

Trustee House

Cray Valley Road

Orpington

Kent

BR5 2UB

REGISTERED NUMBER:

01407171 (England and Wales)

ACCOUNTANTS:

BW Barfoot Accountancy Limnited

31 Churchgate Way

Terrington St Clement

King's Lynn

Norfolk

PE34 4PG

BANKERS:

Santander

Bridle Road

Bootle

Merseyside

L30 4GB

FIXED ASSETS

Tangible assets

4

476,771

313,320

CURRENT ASSETS

Stocks

105,000

61,000

Debtors

926,984

827,422

Cash at bank

318,827

363,950

1,350,811

1,252,372

CREDITORS

Amounts falling due within one year

633,279

561,149

NET CURRENT ASSETS

717,532

691,223

TOTAL ASSETS LESS CURRENT LIABILITIES

1,194,303

1,004,543

CREDITORS

Amounts falling due after more than one year

5

(432,076

)

(450,243

)

PROVISIONS FOR LIABILITIES

8

-

(10,829

)

NET ASSETS

762,227

543,471

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

762,225

543,469

SHAREHOLDERS' FUNDS

762,227

543,471

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 March 2023 and were signed on its behalf by:

N J Toomey - Director

1.	STATUTORY INFORMATION

Trustee 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Improvements to property

-

33% on cost

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% 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 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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2021 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2022

377,718

Additions

247,271

Disposals

(8,995

)

At 31 December 2022

615,994

DEPRECIATION

At 1 January 2022

64,398

Charge for year

76,320

Eliminated on disposal

(1,495

)

At 31 December 2022

139,223

NET BOOK VALUE

At 31 December 2022

476,771

At 31 December 2021

313,320

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.12.22

31.12.21

£

£

Repayable by instalments

Bank loans more 5 yr by instal

-

6,667

6.

LOANS

An analysis of the maturity of loans is given below:

31.12.22

31.12.21

£

£

Amounts falling due within one year or on demand:

Bank loans

110,000

103,333

31.12.22

31.12.21

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

110,000

110,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

175,833

277,500

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

6,667

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.22

31.12.21

£

£

Bank loans

395,833

497,500

Hire purchase contracts

216,348

84,357

612,181

581,857

Bank borrowings totalling £395,833 (2021 - £497,500) from Santander UK plc are secured by a fixed and floating charge over the company assets.

The Hire Purchase loans are secured over the assets to which they relate.

8.	PROVISIONS FOR LIABILITIES

31.12.22

31.12.21

£

£

Deferred tax

-

10,829

Deferred

tax

£

Balance at 1 January 2022

10,829

Utilised during year

(10,829

)

Balance at 31 December 2022

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.22

31.12.21

value:

£

£

2

Ordinary

1

2

2

10.

RESERVES

Retained

earnings

£

At 1 January 2022

543,469

Profit for the year

226,756

Dividends

(8,000

)

At 31 December 2022

762,225

11.	ULTIMATE CONTROLLING PARTY

The controlling parties are NJ Toomey and TJ Matthews, the directors of the company.

12.	HOLDING COMPANY

The company is a wholly owned subsidiary of Trustee Alarms Limited, a company registered in England and Wales.

At the end of the year the company was owed £14,759 by Trustee Alarms Limited (2021 - £14,759) in respect of loan advances which is repayable on demand.

The company paid a dividend of £8,000 to Trustee Alarms Limited (2021 - £Nil) during the year.