NU Fire & Security Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05275297 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

NU FIRE & SECURITY LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

N G Pearson

J E Pearson

REGISTERED OFFICE:

Unit 8A

Kayley Industrial Estate

Richmond Street

Ashton under Lyne

Lancashire

OL7 0AU

REGISTERED NUMBER:

05275297 (England and Wales)

AUDITORS:

ADC Accountants Limited

Registered Auditors & Chartered

Certified Accountants

15 Market Street

Standish

Wigan

WN6 0HW

BANKERS:

National Westminster Bank

28 Warrington Street

Ashton Under Lyne

OL6 6JL

The directors present their report with the financial statements of the company for the year ended 31 December 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the installation,

monitoring and maintenance of fire alarms and security systems.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2017 to

the date of this report.

N G Pearson

J E Pearson

Other changes in directors holding office are as follows:

P B Johnson - resigned 17 July 2017

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements

in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under

that law the directors have elected to prepare the financial statements in accordance with United

Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and

applicable law). Under company law the directors must not approve the financial statements

unless they are satisfied that they give a true and fair view of the state of affairs of the company

and of the profit or loss of the company for that period. In preparing these financial statements,

the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

The directors are responsible for keeping adequate accounting records that are sufficient to show

and explain the company's transactions and disclose with reasonable accuracy at any time the

financial position of the company and enable them to ensure that the financial statements comply

with the Companies Act 2006. They are also responsible for safeguarding the assets of the company

and hence for taking reasonable steps for the prevention and detection of fraud and other

irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418

of the Companies Act 2006) of which the company's auditors are unaware, and each director has

taken all the steps that he ought to have taken as a director in order to make himself aware of any

relevant audit information and to establish that the company's auditors are aware of that

information.

AUDITORS

The auditors, ADC Accountants Limited, will be proposed for re-appointment at the forthcoming

Annual General Meeting.

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:

N G Pearson - Director

24 May 2018

FIXED ASSETS

Intangible assets

4

-

1,000

Tangible assets

5

150,123

147,405

150,123

148,405

CURRENT ASSETS

Stocks

27,719

62,417

Debtors

6

175,359

284,591

Cash at bank and in hand

7,801

17,823

210,879

364,831

CREDITORS

Amounts falling due within one year

7

282,469

384,364

NET CURRENT LIABILITIES

(71,590

)

(19,533

)

TOTAL ASSETS LESS CURRENT LIABILITIES

78,533

128,872

CREDITORS

Amounts falling due after more than one year

8

52,607

66,240

NET ASSETS

25,926

62,632

CAPITAL AND RESERVES

Called up share capital

10

20,100

20,000

Retained earnings

5,826

42,632

SHAREHOLDERS' FUNDS

25,926

62,632

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 24 May 2018 and were signed on its behalf by:

N G Pearson - Director

J E Pearson - Director

1.	STATUTORY INFORMATION

NU Fire & 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared under the going concern basis of accounting.

The directors believe that this is an appropriate basis. The directors have considered the

results for the year together with projections and cash flow forecasts for 2013.

Turnover

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

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amounts paid in connection with the acquisition of a business in 2005

and also in 2007, are being amortised evenly over the estimated useful lives of ten years.

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

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 and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after

making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2016 - 17 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

160,000

AMORTISATION

At 1 January 2017

159,000

Charge for year

1,000

At 31 December 2017

160,000

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

1,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2017

114,894

3,846

50,518

23,338

192,596

Additions

13,946

2,378

-

-

16,324

At 31 December 2017

128,840

6,224

50,518

23,338

208,920

DEPRECIATION

At 1 January 2017

3,957

3,011

18,492

19,731

45,191

Charge for year

3,865

1,717

8,024

-

13,606

At 31 December 2017

7,822

4,728

26,516

19,731

58,797

NET BOOK VALUE

At 31 December 2017

121,018

1,496

24,002

3,607

150,123

At 31 December 2016

110,937

835

32,026

3,607

147,405

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

follows:

Motor

vehicles

£

COST

At 1 January 2017

and 31 December 2017

50,518

DEPRECIATION

At 1 January 2017

and 31 December 2017

18,491

NET BOOK VALUE

At 31 December 2017

32,027

At 31 December 2016

32,027

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

100,943

218,219

Other debtors

74,416

66,372

175,359

284,591

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

67,418

64,560

Hire purchase contracts

10,655

12,594

Trade creditors

45,764

131,177

Taxation and social security

35,046

59,653

Other creditors

123,586

116,380

282,469

384,364

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans

41,393

44,489

Hire purchase contracts

11,214

21,751

52,607

66,240

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank overdrafts

63,951

61,093

Bank loans

44,860

47,956

108,811

109,049

National Westminster Bank Plc hold a debenture dated 11 December 2008 covering the

company's liabilities due to them.

They also hold a legal charge over the Property held in the accounts.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

16,000

Ordinary A

£1

16,000

16,000

4,000

Ordinary B

£1

4,000

4,000

100

C Class

£1

100

-

20,100

20,000

100 C Class shares of £1 each were allotted and fully paid for cash at par during the year.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S Hodson FCCA (Senior Statutory Auditor)

for and on behalf of ADC Accountants Limited

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

31 December 2017 and 31 December 2016:

31.12.17

31.12.16

£

£

N G Pearson

Balance outstanding at start of year

29,705

52,303

Amounts advanced

24,903

27,502

Amounts repaid

(20,000

)

(50,100

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

34,608

29,705

J E Pearson

Balance outstanding at start of year

(285

)

445

Amounts advanced

13,550

27,870

Amounts repaid

(22,003

)

(28,600

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(8,738

)

(285

)

13.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare

and submit returns to the tax authorities and assist with the preparation of the financial

statements.

14.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party by virtue of the directors equal shareholding.