REGISTERED NUMBER:
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EA-RS FIRE MANAGEMENT LIMITED |
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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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REGISTERED NUMBER:
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EA-RS FIRE MANAGEMENT LIMITED |
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STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 4 |
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Report of the Independent Auditors | 6 |
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Statement of Income and Retained Earnings | 9 |
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Balance Sheet | 10 |
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Cash Flow Statement | 11 |
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Notes to the Cash Flow Statement | 12 |
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Notes to the Financial Statements | 13 |
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EA-RS FIRE MANAGEMENT LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
Highland House |
Mayflower Close |
Chandler's Ford |
Eastleigh |
Hampshire |
SO53 4AR |
EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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STRATEGIC REPORT |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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The directors present their strategic report for the period 9 December 2020 to 30 September 2021. |
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REVIEW OF BUSINESS |
Introduction |
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During the period Rockpool Investments LLP ("Rockpool") invested in EA-RS Fire Engineering Limited and the EA-RS Fire Engineering Group was formed. The purpose of the investment was to facilitate an acceleration of the growth strategy which commenced in 2019 and to widen the ownership of the company across the management team. Our strategy combines organic growth together with targeted strategic acquisitions of businesses within the fire and security systems market. |
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EA-RS Fire Management Ltd is a wholly owned subsidiary of EA-RS Fire Engineering Group and provides management services to all companies in the group. |
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Review of business |
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The Rockpool funding has enabled a step-change in development of the group with significant management time and investment dedicated to the creation of systems and processes and to recruitment of management and engineers, to support growth plans. As a business, we are committed to training our people and have created the EA-RS Virtual Academy, documenting a training plan and record for each member of our team, which recognises achievements and fosters an important bond between the individual and the company. |
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The UK fire and security market remains very fragmented with huge opportunities for consolidation. Our plan is to create scale by acquiring small, niche operators and by maximising operational and financial performance through improved systems, increased training, identifying cost synergies and introducing cross-selling between businesses. |
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On 27 February 2021, we acquired CCSS Fire and Security Limited, a long-established business mainly serving housing association clients in the Midlands and North of England. This acquisition has introduced a new range of service offerings and new client base to our group, together with expanding our headcount by c100 people. |
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The period under review saw a significant amount of M&A activity as we appraised a number of acquisition opportunities. Subsequent to the end of the financial period, Rockpool provided an additional £11m of funding, we have concluded a further three acquisitions and are currently working on the integration of these businesses into the Group. |
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PRINCIPAL RISKS AND UNCERTAINTIES |
The principal risks to the business are: |
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- The mis-handling of a significant acquisition |
- To mis-manage the installation of equipment at a client site resulting in a claim for contractual damages |
- To provide defective design services to a client resulting in inadequate fire or security protection |
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The group has significant technical expertise and systems of management control and supervision borne out by its industry accreditations. These, combined with our unblemished track record over many years of trading provide comfort that the above risks are being properly mitigated. |
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EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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STRATEGIC REPORT |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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KEY PERFORMANCE INDICATORS |
There are no key performance indicators to present in this set of financial accounts as this is the first period of accounts for the Company. |
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ON BEHALF OF THE BOARD: |
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EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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REPORT OF THE DIRECTORS |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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The directors present their report with the financial statements of the company for the period 9 December 2020 to 30 September 2021. |
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INCORPORATION |
The company was incorporated on 9 December 2020 . |
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DIVIDENDS |
No dividends will be distributed for the period ended 30 September 2021. |
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EVENTS SINCE THE END OF THE PERIOD |
Information relating to events since the end of the period is given in the notes to the financial statements. |
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DIRECTORS |
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Other changes in directors holding office are as follows: |
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All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
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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: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
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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. |
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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. |
EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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REPORT OF THE DIRECTORS |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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AUDITORS |
The auditors, Hopper Williams & Bell Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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ON BEHALF OF THE BOARD: |
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
EA-RS FIRE MANAGEMENT LIMITED |
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Opinion |
We have audited the financial statements of EA-RS Fire Management Limited (the 'company') for the period ended 30 September 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 September 2021 and of its loss for the period then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
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Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
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Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
EA-RS FIRE MANAGEMENT LIMITED |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
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Extent to which the audit was capable of detecting irregularities, including fraud |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
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- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, and the industry in which it operates. These include but are not limited to compliance with the Companies Act 2006, UK Generally Accepted Accounting Principles and the relevant tax compliance regulations for the company. |
- We obtained an understanding of how the company is complying with these frameworks through discussions with management. |
- We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through follow-up audit procedures including but not limited to a review of legal and professional costs and correspondence. |
- We assessed the susceptibility of the company's financial statements to material misstatement, including the risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature. |
- We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understanding of the industry in which the company operates in, and their practical experience through training and participation with audit engagements of a similar nature. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
EA-RS FIRE MANAGEMENT LIMITED |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Statutory Auditor |
Highland House |
Mayflower Close |
Chandler's Ford |
Eastleigh |
Hampshire |
SO53 4AR |
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EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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STATEMENT OF INCOME AND RETAINED EARNINGS |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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Notes | £ |
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TURNOVER |
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Administrative expenses | ( |
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(611,686 | ) |
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Other operating income |
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OPERATING LOSS | 4 | ( |
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Interest payable and similar expenses | 5 | ( |
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LOSS BEFORE TAXATION | ( |
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Tax on loss | 6 | ( |
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LOSS FOR THE FINANCIAL PERIOD | ( |
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RETAINED EARNINGS AT END OF
PERIOD |
( |
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EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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BALANCE SHEET |
30 SEPTEMBER 2021 |
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Notes | £ |
FIXED ASSETS |
Tangible assets | 7 |
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Investments | 8 |
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CURRENT ASSETS |
Debtors | 9 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 10 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
11 |
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PROVISIONS FOR LIABILITIES | 14 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 15 |
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Retained earnings | 16 | ( |
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The financial statements were approved by the Board of Directors and authorised for issue on
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EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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CASH FLOW STATEMENT |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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Notes | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | ( |
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Interest paid | ( |
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Net cash from operating activities | ( |
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Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
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Net cash to acquire subsidiary | (7,556,299 | ) |
Net cash from investing activities | ( |
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Cash flows from financing activities |
Loans introduced |
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Share issue |
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Net cash from financing activities |
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Increase in cash and cash equivalents |
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Cash and cash equivalents at beginning of
period |
2 |
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Cash and cash equivalents at end of
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88,141 |
EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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NOTES TO THE CASH FLOW STATEMENT |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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1. | RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
£ |
Loss before taxation | ( |
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Finance costs | 221,176 |
(208,653 | ) |
Increase in trade and other debtors | ( |
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Increase in trade and other creditors |
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Cash generated from operations | ( |
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2. | CASH AND CASH EQUIVALENTS |
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The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
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Period ended 30 September 2021 |
30.9.21 | 9.12.20 |
£ | £ |
Cash and cash equivalents | 88,141 | - |
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3. | ANALYSIS OF CHANGES IN NET DEBT |
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At 9.12.20 | Cash flow | At 30.9.21 |
£ | £ | £ |
Net cash |
Cash at bank | - | 88,141 | 88,141 |
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88,141 |
Debt |
Debts falling due after 1 year | - | (3,269,712 | ) | (3,269,712 | ) |
- | (3,269,712 | ) | (3,269,712 | ) |
Total | - | (3,181,571 | ) | (3,181,571 | ) |
EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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1. | STATUTORY INFORMATION |
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EA-RS Fire Management Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. |
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The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1. |
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The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. |
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Going concern |
The directors have considered the impact and risk on the company of COVID-19 and the company's prospects, recognising some degree of uncertainty. The directors have concluded that with the right management actions the company is a going concern for at least 12 months following the signature of the financial statements. Accordingly the directors have prepared the financial statements on this basis. |
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Preparation of consolidated financial statements |
The financial statements contain information about EA-RS Fire Management Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, EA-RS Fire Engineering Group Limited, 4 Swanbridge Industrial Park, Black Croft Road, Witham, Essex, CM8 3YN. |
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Critical accounting judgements and key sources of estimation uncertainty |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factor that are considered relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
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Tangible fixed assets |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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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. |
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Financial assets |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
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Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
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Financial liabilities |
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Equity instruments |
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
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Impairment of financial assets |
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. |
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For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. |
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For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
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If there is a decrease in the impairment loss arising from an event occuring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the profit and loss. |
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Derecognition of financial assets and financial liabilities |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
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Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
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Offsetting financial assets and financial liabilities |
Financial assets are liabilities are offset against and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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3. | EMPLOYEES AND DIRECTORS |
£ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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3. | EMPLOYEES AND DIRECTORS - continued |
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The average number of employees during the period was as follows: |
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Directors | 3 |
Staff | 8 |
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Total Directors' remuneration for the period was £280,225. |
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The highest paid Director received remuneration of £93,933 including a pension contribution of £1,560. |
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During the year retirement benefits were accruing to 1 director in respect of defined contribution schemes. |
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4. | OPERATING LOSS |
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The operating loss is stated after charging: |
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£ |
Auditors' remuneration |
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5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
£ |
Other interest |
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6. | TAXATION |
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Analysis of the tax charge |
The tax charge on the loss for the period was as follows: |
£ |
Deferred tax |
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Tax on loss |
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EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
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6. | TAXATION - continued |
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Reconciliation of total tax charge included in profit and loss |
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
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£ |
Loss before tax | ( |
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Loss multiplied by the standard rate of corporation tax in the UK of
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( |
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Effects of: |
Expenses not deductible for tax purposes |
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Capital allowances in excess of depreciation | ( |
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Deferred tax | 762 |
Group relief | 82,466 |
Total tax charge | 762 |
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7. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
Additions |
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At 30 September 2021 |
|
NET BOOK VALUE |
At 30 September 2021 |
|
|
8. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
|
At 30 September 2021 |
|
NET BOOK VALUE |
At 30 September 2021 |
|
EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
|
|
8. | FIXED ASSET INVESTMENTS - continued |
|
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
|
|
Registered office: Unit 4 Swanbridge Industrial Park, Black Croft Road, Witham, Essex, CM8 3YN |
Nature of business:
|
% |
Class of shares: | holding |
|
|
2021 |
£ |
Aggregate capital and reserves | ( |
) |
Loss for the period | ( |
) |
|
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
|
Amounts owed by group undertakings |
|
Other debtors |
|
|
|
10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
|
Social security and other taxes |
|
VAT | 26,268 |
Other creditors |
|
Accruals and deferred income |
|
|
|
11. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
£ |
Other loans (see note 12) |
|
|
12. | LOANS |
|
An analysis of the maturity of loans is given below: |
|
£ |
Amounts falling due between two and five years: |
Other loans - 2-5 years |
|
EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
|
|
13. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
£ |
Other loans - less than 1 year |
|
|
The loan notes are secured on the assets of the trading companies of the Group. |
|
14. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax | 762 |
|
Deferred |
tax |
£ |
Provided during period |
|
Balance at 30 September 2021 |
|
|
15. | CALLED UP SHARE CAPITAL |
|
Called up share capital at the balance sheet date was £5,759,109 with a nominal value of £1 per share. |
|
16. | RESERVES |
Retained |
earnings |
£ |
|
Deficit for the period | ( |
) |
At 30 September 2021 | ( |
) |
|
17. | PENSION COMMITMENTS |
|
The company operates a defined contribution pension scheme. The contributions payable during the year totalled £3,634. Contributions held in the balance sheet at year end totalled £981. |
|
18. | RELATED PARTY DISCLOSURES |
|
During the period, a total of key management personnel compensation of £
|
|
Included within key management personnel remuneration is £33,333 paid to a Director in the form of consultancy fees via MDW Partners LLP. |
|
19. | POST BALANCE SHEET EVENTS |
|
The Company completed a successful fund raise in November 2021 to raise £11m for further acquisitions. |
EA-RS FIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 13071676) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 9 DECEMBER 2020 TO 30 SEPTEMBER 2021 |
|
|
20. | ULTIMATE CONTROLLING PARTY |
|
EA-RS Fire Engineering Group Limited is the company's immediate parent company and ultimate controlling party. |
|
A copy of the consolidated financial statements of EA-RS Fire Engineering Group Limited can be obtained from Unit 4 Swanbridge Industrial Park, Black Croft Road, Witham, Essex, CM8 3YN. |