C.I.D Fire and Security Limited - Period Ending 2017-03-31

C.I.D Fire and Security Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2017

Registration number: 03979659

C.I.D Fire and Security Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

C.I.D Fire and Security Limited

Company Information

Director

Mr J S Tripp

Registered office

Unit 10, Canvin Court Somerton Business Park Bancombe Road Somerton TA11 6SB

Accountants

Francis Clark LLP Ground Floor Blackbrook Gate 1 Blackbrook Business Park Taunton Somerset TA1 2PX

Page 1

C.I.D Fire and Security Limited

Balance Sheet

31 March 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	6	31,044	39,993
Current assets
Stocks		5,500	5,500
Debtors	7	41,580	43,613
Cash at bank and in hand		33,307	29,728
		80,387	78,841
Creditors: Amounts falling due within one year	8	(49,905)	(38,815)
Net current assets		30,482	40,026
Total assets less current liabilities		61,526	80,019
Creditors: Amounts falling due after more than one year	8	(1,999)	(8,743)
Net assets		59,527	71,276
Capital and reserves
Called up share capital		100	100
Share premium reserve		35,089	35,089
Profit and loss account		24,338	36,087
Total equity		59,527	71,276

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 2

C.I.D Fire and Security Limited

Balance Sheet

31 March 2017

For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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

Approved and authorised by the director on 9 September 2017
 

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

Mr J S Tripp

Director

Company Registration Number: 03979659

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 3

C.I.D Fire and Security Limited

Notes to the Financial Statements

Year Ended 31 March 2017

1	General information

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

The address of its registered office is:
Unit 10, Canvin Court
Somerton Business Park
Bancombe Road
Somerton
TA11 6SB

These financial statements were authorised for issue by the director on 9 September 2017.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 1 April 2015. There is no material impact on the reported financial position and financial performance.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Leasehold improvements	10% straight line
Office equipment	25% reducing balance
Plant and machinery	25% reducing balance

Page 4

C.I.D Fire and Security Limited

Notes to the Financial Statements

Year Ended 31 March 2017

Motor vehicles

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	15% on a straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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 stocks 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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Page 5

C.I.D Fire and Security Limited

Notes to the Financial Statements

Year Ended 31 March 2017

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Finance lease agreements; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for finance lease agreements, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Finance lease agreements are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2016 - 5).

4	Profit before tax

Arrived at after charging/(crediting)

	2017 £	2016 £
Depreciation expense	8,949	11,655

Page 6

C.I.D Fire and Security Limited

Notes to the Financial Statements

Year Ended 31 March 2017

5	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2016	15,250	15,250
At 31 March 2017	15,250	15,250
Amortisation
At 1 April 2016	15,250	15,250
At 31 March 2017	15,250	15,250
Carrying amount
At 31 March 2017	-	-

6	Tangible assets

	Leasehold improvements £	Office equipment  £	Motor vehicles  £	Plant and machinery  £	Total £
Cost or valuation
At 1 April 2016	8,405	14,683	42,236	18,713	84,037
At 31 March 2017	8,405	14,683	42,236	18,713	84,037
Depreciation
At 1 April 2016	841	10,906	15,211	17,086	44,044
Charge for the year	841	945	6,756	407	8,949
At 31 March 2017	1,682	11,851	21,967	17,493	52,993
Carrying amount
At 31 March 2017	6,723	2,832	20,269	1,220	31,044
At 31 March 2016	7,564	3,777	27,025	1,627	39,993

7

Debtors

	2017  £	2016  £
Trade debtors	39,355	41,378
Other debtors	2,225	2,235
	41,580	43,613

Page 7

C.I.D Fire and Security Limited

Notes to the Financial Statements

Year Ended 31 March 2017

8

Creditors

	Note	2017  £	2016  £
Due within one year
Loans and borrowings	9	6,744	9,490
Trade creditors		17,598	12,045
Social security and other taxes		9,626	7,039
Other creditors		7,949	3,347
Corporation tax		7,988	6,894
		49,905	38,815
Due after one year
Loans and borrowings	9	1,999	8,743

9	Loans and borrowings

	2017 £	2016 £
Non-current loans and borrowings
Finance lease liabilities	1,999	8,743

	2017 £	2016 £
Current loans and borrowings
Finance lease liabilities	6,744	9,490

Finance leases are secured against the assets purchased with those agreements.

10

Dividends

	2017	2016
	£	£
Interim dividend of £336 (2016 - £347) per ordinary share	33,600	34,700

Page 8

C.I.D Fire and Security Limited

Notes to the Financial Statements

Year Ended 31 March 2017

11	Related party transactions

Advances to directors

2017	At 1 April 2016 £	Advances to director £	Repayments by director £	At 31 March 2017 £
Mr D S Tripp
Interest free advance, repayable on demand	198	-	(198)	-
Mr J S Tripp
Interest free advances, repayable on demand	196	103	(25)	274

2016	At 1 April 2015 £	Advances to director £	Repayments by director £	At 31 March 2016 £
Mr D S Tripp
Interest free advance, repayable on demand	198	-	-	198
Mr J S Tripp
Interest free advances, repayable on demand	42	154	-	196

Page 9