REGISTERED NUMBER:
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1ST ACCESS GROUP LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2022 |
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REGISTERED NUMBER:
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1ST ACCESS GROUP LIMITED |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2022 |
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1ST ACCESS GROUP LIMITED (REGISTERED NUMBER: 05518191) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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1ST ACCESS GROUP LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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1ST ACCESS GROUP LIMITED (REGISTERED NUMBER: 05518191) |
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BALANCE SHEET |
30 JUNE 2022 |
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30.6.22 | 30.6.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | - | 263,790 |
SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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1ST ACCESS GROUP LIMITED (REGISTERED NUMBER: 05518191) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2022 |
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1. | STATUTORY INFORMATION |
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1st Access Group Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of consideration received or receivable net of VAT and trade discounts. The policies adopted for recognition of turnover are as follows: |
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Construction contracts |
When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. |
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When the outcome cannot be measured reliably, the contract costs are recognised as an expense in the period to which they relate and contract turnover is recognised to the extent of costs incurred that is probable will be recovered. |
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When it is probable that costs will exceed turnover then a loss is recognised immediately. |
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Rendering of services |
When the outcome of a transaction can be measured reliably, turnover is recognised by reference to the stage of completion at the balance sheet date. |
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Rental income |
Rental income is measured based on the periods of occupation. |
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Tangible fixed assets |
Tangible fixed assets are included at cost less accumulated depreciation and impairment. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful lives as follows: |
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Motor vehicles | - 25% reducing balance |
Plant and equipment | - 25% reducing balance |
Fixtures and fittingsComputer
equipment |
- 25% reducing balance- 33% straight line |
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Stocks |
Stock has been valued at the lower of cost and estimated selling price less costs to sell. Cost is calculated on a first-in, first-out basis. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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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1ST ACCESS GROUP LIMITED (REGISTERED NUMBER: 05518191) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2022 |
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2. | ACCOUNTING POLICIES - continued |
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 year 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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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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Grants |
Government grants are recognised on the accruals basis as they are receivable when there is a reasonable assurance that the company will comply with conditions attaching to them. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
At 1 July 2021 |
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Reclassification/transfer | ( |
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At 30 June 2022 |
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AMORTISATION |
At 1 July 2021 |
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Reclassification/transfer | ( |
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At 30 June 2022 |
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NET BOOK VALUE |
At 30 June 2022 |
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At 30 June 2021 |
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1ST ACCESS GROUP LIMITED (REGISTERED NUMBER: 05518191) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2022 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 July 2021 |
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Additions |
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Disposals | ( |
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Reclassification/transfer | ( |
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At 30 June 2022 |
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DEPRECIATION |
At 1 July 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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Reclassification/transfer | ( |
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At 30 June 2022 |
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NET BOOK VALUE |
At 30 June 2022 |
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At 30 June 2021 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Amounts recoverable on contract |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Hire purchase contracts |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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30.6.22 | 30.6.21 |
£ | £ |
Hire purchase contracts | - | 26,239 |
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Hire purchase is secured on the asset to which it relates. |
1ST ACCESS GROUP LIMITED (REGISTERED NUMBER: 05518191) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2022 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was qualified on the following basis: |
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Basis for Disclaimer of Opinion |
1. We were not appointed auditors until after 31 January 2022 (the date at which the company ceased to operate) and thus: |
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- did not observe the counting of physical inventories at either the beginning of the year or at the cessation date. We were also unable to satisfy ourselves using alternative methods concerning the inventory quantities held or their valuation at either the opening or closing date |
- did not observe the cut off procedures relating to amounts recoverable on contracts relating to either opening or closing balances and were unable to satisfy ourselves using alternative methods concerning either the quantities or values or contracts |
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2. As part of our auditing procedures for both opening and closing balances we requested information and data which was needed to provide sufficient, appropriate audit evidence to support the balances and disclosures in the financial statements. We have been unable to obtain the requested information in relation to many of these balances and disclosures. |
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for and on behalf of
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 June 2022 and 30 June 2021: |
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30.6.22 | 30.6.21 |
£ | £ |
Ms V A Lindop |
Balance outstanding at start of year | - | 53,516 |
Amounts repaid | - | (53,516 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | - |
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Mr J A Loydon |
Balance outstanding at start of year | - | 73,736 |
Amounts repaid | - | (73,736 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | - |
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12. | ULTIMATE CONTROLLING PARTY |
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On 3 July 2020 the company became a wholly owned subsidiary of dormakaba UK Limited (formerly dorma UK Limited) for whom the ultimate parent company is dormakaba Holding AG. |