XFOR LOCAL AUTHORITY SUPPORT LIMITED

Transcription

1 Registered number: XFOR LOCAL AUTHORITY SUPPORT LIMITED UNAUDITED DIRECTOR'S REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL

2 COMPANY INFORMATION DIRECTOR S Gillespie (appointed 8 April 2010) COMPANY NUMBER REGISTERED OFFICE 83 Victoria Street London SW1H 0HW TRADING ADDRESS 83 Victoria Street London SW1H 0HW ACCOUNTANTS Price Bailey LLP Chartered Accountants Dashwood House 69 Old Broad Street London EC2M 1QS

3 CONTENTS Page Director's Report 1 Accountants' Report 2 Profit and Loss Account 3 Balance Sheet 4 Notes to the Financial Statements 5-6

4 DIRECTOR'S REPORT FOR THE PERIOD ENDED 30 APRIL The director presents his report and the financial statements for the period ended 30 April. PRINCIPAL ACTIVITIES The principal activity of the company continued to be that of the provision of security services. The company was incorporated on 8 April During the year the company has recieved financial support from Xfor Management (UK) Limited in the form of reduced management charges to assist in its first period of trading. DIRECTOR The director who served during the period was: S Gillespie (appointed 8 April 2010) DIRECTOR'S RESPONSIBILITIES STATEMENT The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to: select suitable accounting policies and then apply them consistently; make judgments and 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. The director is 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 him to ensure that the financial statements comply with the Companies Act He is 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. In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act This report was approved by the board and signed on its behalf. S Gillespie Director Date: 8 September Page 1

5 CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF XFOR LOCAL AUTHORITY SUPPORT LIMITED FOR THE PERIOD ENDED 30 APRIL In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Xfor Local Authority Support Limited for the period ended 30 April which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us. As a 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 at icaew.com/membershandbook. This report is made solely to the director of Xfor Local Authority Support Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Xfor Local Authority Support Limited and state those matters that we have agreed to state to him in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Xfor Local Authority Support Limited and its director for our work or for this report. It is your duty to ensure that Xfor Local Authority Support Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and profit. You consider that Xfor Local Authority Support Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or review of the financial statements of Xfor Local Authority Support 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. Price Bailey LLP Chartered Accountants Dashwood House 69 Old Broad Street London EC2M 1QS 13 September Page 2

6 PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 30 APRIL Note TURNOVER 1 522,740 Cost of sales (130,323) GROSS PROFIT 392,417 Administrative expenses (380,866) PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION 11,551 Tax on profit on ordinary activities 3 (2,426) PROFIT FOR THE FINANCIAL PERIOD 7 9,125 The notes on pages 5 to 6 form part of these financial statements. Page 3

7 CURRENT ASSETS XFOR LOCAL AUTHORITY SUPPORT LIMITED REGISTERED NUMBER: BALANCE SHEET AS AT 30 APRIL Note Debtors 4 123,396 Cash at bank 2, ,687 CREDITORS: amounts falling due within one year 5 (116,561) NET CURRENT ASSETS 9,126 TOTAL ASSETS LESS CURRENT LIABILITIES 9,126 CAPITAL AND RESERVES Called up share capital 6 1 Profit and loss account 7 9,125 SHAREHOLDERS' FUNDS 9,126 The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act. The director acknowledges his responsibility for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 April and of its profit for the period then ended in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to the financial statements so far as applicable to the company. The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 September. S Gillespie Director The notes on pages 5 to 6 form part of these financial statements. Page 4

8 1. ACCOUNTING POLICIES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 1.1 Basis of preparation of financial statements The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). 1.2 Turnover Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. 2. PROFIT During the period, no director received any emoluments. 3. TAXATION UK corporation tax charge on profit for the period 2, DEBTORS Trade debtors 62,956 Amounts owed by group undertakings 60, , CREDITORS: Amounts falling due within one year Bank loans and overdrafts 38,425 Trade creditors 48,494 Corporation tax 2,426 Social security and other taxes 15,595 Other creditors 11, ,561 Page 5

9 NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 6. SHARE CAPITAL Allotted, called up and fully paid 1 Ordinary share of ordinary share was issued during the period. 7. RESERVES Profit and loss account Profit for the period 9,125 At 30 April 9, RELATED PARTY TRANSACTIONS During the period the company completed a number of transactions with related parties, all of which were carried out on an arms length basis. Intercompany Purchases balance Xfor Management (UK) Limited 195,784 6,357 Xfor Security Solutions Limited - 3,899 Xfor Private Investigations Limited - 14,674 Xfor Sport Secure Limited - 1,750 Xfor Events Secure Limited - - Mr S Gillespie is a director of the other companies shown above and through direct or indirect shareholdings is able to exercise control or significant influence. 9. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY During the period the company was under the immediate and ultimate control of S Gillespie. Page 6

10 Registered number: XFOR LOCAL AUTHORITY SUPPORT LIMITED DETAILED ACCOUNTS - UNAUDITED FOR THE PERIOD ENDED 30 APRIL

11 DETAILED TRADING AND PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 30 APRIL TURNOVER 522,740 Cost of sales (130,323) GROSS PROFIT 392,417 LESS: OVERHEADS Administration expenses (380,866) PROFIT FOR THE PERIOD 11,551

12 TURNOVER SCHEDULE TO THE DETAILED ACCOUNTS FOR THE PERIOD ENDED 30 APRIL Sales 522,740 COST OF SALES Subcontract labour 126,827 Other direct costs 3, ,323 ADMINISTRATION EXPENSES Staff salaries 154,465 Staff national insurance 14,171 Accountancy fees 2,500 Debt factoring charges 13,946 Management charges 195, ,866