Premier Fire Alarms Ltd Filleted accounts for Companies House (small and micro)

PREMIER FIRE ALARMS LTD. - Company Information

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COMPANY REGISTRATION NUMBER: 07128593

Premier Fire Alarms Ltd

Filleted Unaudited Abridged Financial Statements

31 January 2018

Premier Fire Alarms Ltd

Abridged Financial Statements

Year ended 31 January 2018

Contents	Pages

Officers and professional advisers	1

Abridged statement of financial position	2 to 3

Notes to the abridged financial statements	4 to 6

Premier Fire Alarms Ltd

Officers and Professional Advisers

The board of directors	M Donegan
	Mrs K A Donegan

Registered office	132 Burnt Ash Road
	Lee
	London
	SE12 8PU

Accountants	R E Jones & Co
	Chartered accountant
	132 Burnt Ash Road
	Lee
	London
	SE12 8PU

Bankers	Barclays Bank plc
	93 Lewisham High Street
	Lewisham
	London
	SE13 6BB

Premier Fire Alarms Ltd

Abridged Statement of Financial Position

31 January 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		3,671	4,628

Current assets

Stocks	850	875
Debtors	18,253	31,042
Cash at bank and in hand	2,342	3,235
	---------	---------
	21,445	35,152

Creditors: amounts falling due within one year	24,842		39,548
	---------		---------
Net current liabilities		3,397	4,396
		-------	-------
Total assets less current liabilities		274	232
		----	----

Capital and reserves

Called up share capital	100	100
Profit and loss account	174	132
	----	----
Shareholders funds	274	232
	----	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 January 2018 in accordance with Section 444(2A) of the Companies Act 2006.

Premier Fire Alarms Ltd

Abridged Statement of Financial Position (continued)

31 January 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 29 October 2018 , and are signed on behalf of the board by:

M Donegan
Director

Company registration number: 07128593

Premier Fire Alarms Ltd

Notes to the Abridged Financial Statements

Year ended 31 January 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 132 Burnt Ash Road, Lee, London, SE12 8PU.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover 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 a 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 expected consideration at completion.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all timing differences to the extent that it is considered that a net liability may arise.

Tangible 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 amount 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

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:

Motor vehicles	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2017: 1 ).

5. Tangible assets

	£
Cost
At 1 February 2017	11,448
Additions	266
	---------
At 31 January 2018	11,714
	---------
Depreciation
At 1 February 2017	6,820
Charge for the year	1,223
	---------
At 31 January 2018	8,043
	---------
Carrying amount
At 31 January 2018	3,671
	---------
At 31 January 2017	4,628
	---------

6. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
M Donegan	3,287	5,321	8,608
Mrs K A Donegan	2,191	2,294	4,485
	-------	-------	---------
	5,478	7,615	13,093
	-------	-------	---------

	2017
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
M Donegan	( 2)	3,287	3,285
Mrs K A Donegan	–	2,191	2,191
	----	-------	-------
	( 2)	5,478	5,476
	----	-------	-------

7. Related party transactions

The company was under the control of the directors throughout the current year. Included in debtors , is an amount owed by the directors totalling £13,092(2017 DR:£5,476). This amount has been repaid. During the year dividends amounting to £53,310 was paid to the shareholders.