Compliance Group Fire and Security - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02456542 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 OCTOBER 2021 TO 31 DECEMBER 2022

FOR

COMPLIANCE GROUP FIRE AND SECURITY

LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A Cullen

P Nowosad

I R Panter

R J Thompson

REGISTERED OFFICE:

85 Great Portland Street

London

W1W 7LT

REGISTERED NUMBER:

02456542 (England and Wales)

ACCOUNTANTS:

COLIN GRAY & CO LIMITED

Chartered Accountants

Hardy House

Northbridge Road

Berkhamsted

Hertfordshire

HP4 1EF

FIXED ASSETS

Intangible assets

4

54,562

63,556

Tangible assets

5

407,436

864,716

461,998

928,272

CURRENT ASSETS

Stocks

351,672

232,265

Debtors

6

2,156,143

2,208,504

Cash at bank

56,055

97,601

2,563,870

2,538,370

CREDITORS

Amounts falling due within one year

7

2,846,404

2,506,653

NET CURRENT (LIABILITIES)/ASSETS

(282,534

)

31,717

TOTAL ASSETS LESS CURRENT LIABILITIES

179,464

959,989

CREDITORS

Amounts falling due after more than one year

8

(275,176

)

(310,339

)

PROVISIONS FOR LIABILITIES

(92,634

)

(92,634

)

NET (LIABILITIES)/ASSETS

(188,346

)

557,016

CAPITAL AND RESERVES

Called up share capital

10

29,181

51,350

Share premium

5,820

-

Capital redemption reserve

25,675

-

Retained earnings

(249,022

)

505,666

SHAREHOLDERS' FUNDS

(188,346

)

557,016

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

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 13 November 2023 and were signed on its behalf by:

P Nowosad - Director

1.	STATUTORY INFORMATION

Compliance Group 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.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and value added tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Goodwill arises on business acquisitions and represents the excess of cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - 10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, amortisation is revised prospectively to reflect the new estimates.

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.

Tangible fixed assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying value of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Long leasehold property - 10% straight line

Plant and machinery - 20% straight line

Fixtures, fittings and equipment - 25% straight line

Motor vehicles - 25% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised on the Balance Sheet as assets and liabilities at the lower of fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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.

Operating leases

Lease income is recognised in the Income Statement on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 72 (2021 - 62 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2021

and 31 December 2022

71,950

AMORTISATION

At 1 October 2021

8,394

Charge for period

8,994

At 31 December 2022

17,388

NET BOOK VALUE

At 31 December 2022

54,562

At 30 September 2021

63,556

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 October 2021

18,158

1,327,160

1,345,318

Additions

-

23,829

23,829

Disposals

-

(453,959

)

(453,959

)

At 31 December 2022

18,158

897,030

915,188

DEPRECIATION

At 1 October 2021

-

480,602

480,602

Charge for period

2,270

206,270

208,540

Eliminated on disposal

-

(181,390

)

(181,390

)

At 31 December 2022

2,270

505,482

507,752

NET BOOK VALUE

At 31 December 2022

15,888

391,548

407,436

At 30 September 2021

18,158

846,558

864,716

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

1,802,900

1,104,615

Other debtors

353,243

1,103,889

2,156,143

2,208,504

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

712,579

339,394

Hire purchase contracts

48,364

333,467

Trade creditors

965,384

537,508

Taxation and social security

423,677

407,315

Other creditors

696,400

888,969

2,846,404

2,506,653

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

188,331

-

Hire purchase contracts

86,845

310,339

275,176

310,339

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Hire purchase contracts

135,209

643,806

Bank loans and overdrafts

648,943

-

784,152

643,806

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

29,181

Ordinary

£1

29,181

51,350

During the year the company issued 3,506 ordinary shares at a premium of £1.66 per share.

On the 31st March 2022, 25,675 ordinary shares with an aggregate nominal value of £25,675 were purchased by the company and subsequently cancelled. The shares were acquired for a consideration of £450,000.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 31 December 2022 and the year ended 30 September 2021:

2022

2021

£

£

R A Cullen

Balance outstanding at start of period

81,111

156,131

Amounts repaid

(48,484

)

(75,020

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

32,627

81,111