Fone - Alarm Installations Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01366219 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

FOR

FONE - ALARM INSTALLATIONS LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

L A Searle

P Mullholland

T A Potter

REGISTERED OFFICE:

59 Albert Road North

Reigate

Surrey

RH2 9EL

REGISTERED NUMBER:

01366219 (England and Wales)

ACCOUNTANTS:

DSK Partners LLP

75 Park Lane

Croydon

Surrey

CR9 1XS

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fone - Alarm Installations Limited for the year ended 31 May 2021 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Fone - Alarm Installations Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fone - Alarm Installations Limited and state those matters that we have agreed to state to the Board of Directors of Fone - Alarm Installations Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fone - Alarm Installations Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Fone - Alarm Installations Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fone - Alarm Installations Limited. You consider that Fone - Alarm Installations Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fone - Alarm Installations Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

DSK Partners LLP

75 Park Lane

Croydon

Surrey

CR9 1XS

14 February 2022

FIXED ASSETS

Tangible assets

4

74,612

105,304

CURRENT ASSETS

Stocks

5

1,071

6,258

Debtors

6

693,884

528,466

Cash at bank

1,193,356

867,624

1,888,311

1,402,348

CREDITORS

Amounts falling due within one year

7

490,872

243,426

NET CURRENT ASSETS

1,397,439

1,158,922

TOTAL ASSETS LESS CURRENT LIABILITIES

1,472,051

1,264,226

ACCRUALS AND DEFERRED INCOME

13,747

8,894

NET ASSETS

1,458,304

1,255,332

CAPITAL AND RESERVES

Called up share capital

8

60,000

60,000

Share premium

9

70,000

70,000

Capital redemption reserve

9

90,000

90,000

Retained earnings

9

1,238,304

1,035,332

SHAREHOLDERS' FUNDS

1,458,304

1,255,332

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 14 February 2022 and were signed on its behalf by:

L A Searle - Director

P Mullholland - Director

1.	STATUTORY INFORMATION

Fone - Alarm Installations 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Since 31 December 2019, the spread of COVID-19 has severely impacted many local economies around the globe. In many countries, businesses are being forced to cease or limit operations for long or indefinite periods of time. In the UK this began on 23rd March 2020. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. Governments and central banks have responded with monetary and fiscal interventions to stabilise economic condition.

The company is likely to be affected in the form of loss of income, however it will benefit from savings in costs. It has been the policy to maintain healthy cash reserves and this will enable the company to weather the disruption caused by lockdown.

The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses, remains unclear at this time. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the company for future periods.

After making appropriate enquires, the directors have a reasonable expectation that the company has adequate resources to enable it to continue in operational existence for the foreseeable future. They believe it is appropriate to prepare the accounts on a going concern basis.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

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 short leasehold premises

-

in accordance with the property

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

35% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 30 (2020 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to short

Fixtures

leasehold

Plant and

and

premises

machinery

fittings

£

£

£

COST

At 1 June 2020

46,034

37,157

30,823

Additions

-

5,263

-

Disposals

-

(955

)

-

At 31 May 2021

46,034

41,465

30,823

DEPRECIATION

At 1 June 2020

43,725

34,112

28,815

Charge for year

815

1,274

502

Eliminated on disposal

-

(36

)

-

At 31 May 2021

44,540

35,350

29,317

NET BOOK VALUE

At 31 May 2021

1,494

6,115

1,506

At 31 May 2020

2,309

3,045

2,008

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2020

358,316

74,230

546,560

Additions

-

5,851

11,114

Disposals

(41,411

)

-

(42,366

)

At 31 May 2021

316,905

80,081

515,308

DEPRECIATION

At 1 June 2020

291,282

43,322

441,256

Charge for year

22,869

8,587

34,047

Eliminated on disposal

(34,571

)

-

(34,607

)

At 31 May 2021

279,580

51,909

440,696

NET BOOK VALUE

At 31 May 2021

37,325

28,172

74,612

At 31 May 2020

67,034

30,908

105,304

5.

STOCKS

2021

2020

£

£

Raw materials

1,071

6,258

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

498,866

230,719

Other debtors

1,200

-

Deferred tax asset

11,575

20,346

Prepayments

44,770

48,472

Accrued income

137,473

228,929

693,884

528,466

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

272,251

26,694

Corporation tax

64

-

Social security and other

taxes

170,152

191,376

Other creditors

5,168

2,251

Accruals and deferred income

43,237

23,105

490,872

243,426

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

60,000

Ordinary

£1

60,000

60,000

9.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 June 2020

1,035,332

70,000

90,000

1,195,332

Profit for the year

202,972

-

-

202,972

At 31 May 2021

1,238,304

70,000

90,000

1,398,304