Company Registration No. 07917007 (England and Wales)
FIRST RESPONSE (EUROPE) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
PAGES FOR FILING WITH REGISTRAR
FIRST RESPONSE (EUROPE) LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
FIRST RESPONSE (EUROPE) LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FIRST RESPONSE (EUROPE) LTD FOR THE YEAR ENDED 31 JANUARY 2022
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of First Response (Europe) Ltd for the year ended 31 January 2022 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of First Response (Europe) Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of First Response (Europe) Ltd
and state those matters that we have agreed to state to the Board of Directors of First Response (Europe) Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than First Response (Europe) Ltd and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that First Response (Europe) Ltd 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 First Response (Europe) Ltd. You consider that First Response (Europe) Ltd 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 First Response (Europe) Ltd. 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.
Kirk Rice LLP
11 July 2022
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
FIRST RESPONSE (EUROPE) LTD
BALANCE SHEET
AS AT
31 JANUARY 2022
31 January 2022
- 2 -
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
3
787
Current assets
Stocks
2,700
Debtors
5
109,245
111,823
Cash at bank and in hand
186,097
150,915
295,342
265,438
Creditors: amounts falling due within one year
6
(174,181)
(105,929)
Net current assets
121,161
159,509
Total assets less current liabilities
121,161
160,296
Creditors: amounts falling due after more than one year
7
(47,500)
Net assets
121,161
112,796
Capital and reserves
Called up share capital
5,100
5,100
Share premium account
59,652
59,652
Capital redemption reserve
512
512
Profit and loss reserves
55,897
47,532
Total equity
121,161
112,796
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
FIRST RESPONSE (EUROPE) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2022
31 January 2022
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 8 July 2022 and are signed on its behalf by:
Mr A D Hoffmann
Director
Company Registration No. 07917007
FIRST RESPONSE (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
- 4 -
1
Accounting policies
Company information
First Response (Europe) Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Zeeta House, 200 Upper Richmond Road, Putney, London, SW15 2SH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date
where
it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the
fair
value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
Amortised evenly over its estimated life of four years on a quarter by quarter basis.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
50% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
FIRST RESPONSE (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.
Debtors
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
Creditors
Creditors are not interest bearing and are included at their nominal value.
1.8
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
FIRST RESPONSE (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 6 -
1.10
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
7
6
3
Intangible fixed assets
Development costs
£
Cost
At 1 February 2021
24,239
Disposals
(24,239)
At 31 January 2022
Amortisation and impairment
At 1 February 2021
23,452
Amortisation charged for the year
786
Disposals
(24,238)
At 31 January 2022
Carrying amount
At 31 January 2022
At 31 January 2021
787
FIRST RESPONSE (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 7 -
4
Tangible fixed assets
Computers
£
Cost
At 1 February 2021 and 31 January 2022
1,221
Depreciation and impairment
At 1 February 2021 and 31 January 2022
1,221
Carrying amount
At 31 January 2022
At 31 January 2021
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
109,245
97,149
Other debtors
14,674
109,245
111,823
6
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
2,500
Trade creditors
106,713
77,988
Taxation and social security
35,066
15,147
Other creditors
32,402
10,294
174,181
105,929
7
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
47,500
FIRST RESPONSE (EUROPE) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 8 -
8
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Mr D H Bland - Loan to Director
-
11,763
(11,763)
-
11,763
(11,763)
-