REGISTERED NUMBER: 01398439 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

A & E FIRE EQUIPMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Stallard

R Amphlett

E J Stallard

SECRETARY:

J D Stallard

REGISTERED OFFICE:

Unit 4

Bamfurlong Industrial Park

Staverton

Cheltenham

Glos

GL51 6SX

REGISTERED NUMBER:

01398439 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Tangible assets

4

195,012

260,260

CURRENT ASSETS

Stocks

114,159

81,745

Debtors

5

1,044,057

850,042

Cash at bank and in hand

362

8,065

1,158,578

939,852

CREDITORS

Amounts falling due within one year

6

963,712

935,297

NET CURRENT ASSETS

194,866

4,555

TOTAL ASSETS LESS CURRENT LIABILITIES

389,878

264,815

CREDITORS

Amounts falling due after more than one year

7

(19,130

)

(29,192

)

PROVISIONS FOR LIABILITIES

(211

)

(211

)

NET ASSETS

370,537

235,412

CAPITAL AND RESERVES

Called up share capital

200

200

Revaluation reserve

-

23,450

Capital redemption reserve

50

50

Retained earnings

370,287

211,712

SHAREHOLDERS' FUNDS

370,537

235,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29 September 2017 and were signed on its behalf by:

J D Stallard - Director

E J Stallard - Director

1.	STATUTORY INFORMATION

A & E Fire Equipment Ltd 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Revenue is recognised at the date of invoice to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

over the remaining life of the lease

Plant and machinery

-

33% on cost and 25% on reducing balance

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on reducing balance

Livestock & Equine equipment

-

33% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Taxation

Taxation for the year comprises current tax, deferred tax and adjustments for research and

development. 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 that have been

enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

Going concern

There are no material uncertainties that may cast significant doubt about the company's ability to

continue as a going concern. The director's will continue to support the working capital requirements

of the company.

Accounting convention

These financial statements are the first financial statements that comply with FRS 102 Section 1A. The

date of transition is 1 January 2015. The transition to FRS 102 Section 1A small entities has resulted in

no material changes in accounting policies to those used previously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 55 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST OR VALUATION

At 1 January 2016

142,567

44,359

84,210

Additions

65,624

1,800

6,909

Disposals

-

(13,030

)

(43,031

)

At 31 December 2016

208,191

33,129

48,088

DEPRECIATION

At 1 January 2016

52,754

40,562

81,354

Charge for year

13,099

2,766

2,943

Eliminated on disposal

-

(10,499

)

(42,719

)

At 31 December 2016

65,853

32,829

41,578

NET BOOK VALUE

At 31 December 2016

142,338

300

6,510

At 31 December 2015

89,813

3,797

2,856

Livestock

Motor

& Equine

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 January 2016

107,059

99,955

478,150

Additions

8,000

-

82,333

Disposals

(48,550

)

(99,955

)

(204,566

)

At 31 December 2016

66,509

-

355,917

DEPRECIATION

At 1 January 2016

41,365

1,855

217,890

Charge for year

13,950

-

32,758

Eliminated on disposal

(34,670

)

(1,855

)

(89,743

)

At 31 December 2016

20,645

-

160,905

NET BOOK VALUE

At 31 December 2016

45,864

-

195,012

At 31 December 2015

65,694

98,100

260,260

The net book value of tangible fixed assets includes £ 17,718 (2015 - £ 38,327 ) in respect of assets

held under hire purchase contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

560,650

568,816

Provision for doubtful debts

(4,856

)

(17,836

)

Other debtors

23,090

25,122

Directors' loan accounts

462,541

228,194

Prepayments and accrued income

2,632

45,746

1,044,057

850,042

The company factors its trade debtors with Royal Bank of Scotland who have a fixed and floating

charge over all company assets. J D Stallard, Director, has also given a personal guarantee to Royal

Bank of Scotland in respect of the debt factoring arrangement. Debtors are stated gross and the

liability to the factoring company is included in creditors due within one year. Included within other

creditors is £410,448 (2015: £339,736) due to Royal Bank of Scotland in respect of the debt factoring

agreement.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

12,782

21,961

Hire purchase contracts

13,850

21,567

Trade creditors

253,978

269,005

Corporation Tax

71,460

42,564

Social security and other taxes

59,964

31,427

Net Wages

2,220

-

VAT

100,899

88,400

Other creditors

399,021

374,735

Directors' loan accounts

15,756

-

Accrued expenses

33,782

85,638

963,712

935,297

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

19,130

29,192

8.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank overdrafts

12,782

19,963

Bank loans

-

1,998

Hire purchase contracts

32,980

50,759

45,762

72,720

The bank overdraft is secured by a charge over a life policy relating to J D Stallard, Director, and by

personal guarantees given by the directors.

The bank loan is secured by Natwest Bank PLC's standard mortgage debenture dated 5 July 1999

over the company's business premises. The loan is also secured by a personal guarantees given by

the directors.

Net obligations under finance lease and hire purchase contracts are secured by fixed charges over the

assets to which they relate.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr J D Stallard

Director and Shareholder

Amount due from related party at the balance sheet date £462,540.

The overdrawn director's loan account has interest charged on it at the official rate of interest of 3%.

There are no fixed repayment terms for the overdrawn loan account.