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REGISTERED NUMBER: 02981298















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

ASTROFLAME (FIRESEALS) LIMITED

ASTROFLAME (FIRESEALS) LIMITED (REGISTERED NUMBER: 02981298)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

ASTROFLAME (FIRESEALS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: Mr P J Kieser



SECRETARY: Mrs S L Kieser



REGISTERED OFFICE: Avebury House
6 St Peter Street
Winchester
Hampshire
SO23 8BN



REGISTERED NUMBER: 02981298



ACCOUNTANTS: Rothmans LLP
Chartered Accountants
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN



BANKERS: Natwest Bank Plc
2 Portsmouth Road
Southampton
Hampshire
SO2 9AA

ASTROFLAME (FIRESEALS) LIMITED (REGISTERED NUMBER: 02981298)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 209,429 1,917,941
Investment property 5 - 1,095,000
209,429 3,012,941

CURRENT ASSETS
Stocks 1,165,585 890,861
Debtors 6 1,329,708 1,456,203
Cash at bank and in hand 750,367 883,723
3,245,660 3,230,787
CREDITORS
Amounts falling due within one year 7 1,084,709 1,092,892
NET CURRENT ASSETS 2,160,951 2,137,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,370,380

5,150,836

PROVISIONS FOR LIABILITIES 2,392 -
NET ASSETS 2,367,988 5,150,836

CAPITAL AND RESERVES
Called up share capital 104 104
Fair value reserve 10 - 273,246
Retained earnings 2,367,884 4,877,486
SHAREHOLDERS' FUNDS 2,367,988 5,150,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ASTROFLAME (FIRESEALS) LIMITED (REGISTERED NUMBER: 02981298)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 September 2022 and were signed by:





Mr P J Kieser - Director


ASTROFLAME (FIRESEALS) LIMITED (REGISTERED NUMBER: 02981298)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022


1. STATUTORY INFORMATION

Astroflame (Fireseals) Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the amount derived from the provision of goods and services which fall within the company's ordinary activities as wholesalers of fire protection products, stated net of value added tax and relevant trade discounts.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company’s activities described below.

Wholesale products
When the outcome of a wholesale contract order can be estimated reliably in terms of its stage of completion, future costs to complete and recoverability of billings, the company recognises revenue and expenses on the contract order by reference to the completion of the supply and acceptance of the goods under the terms of the contract.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis:

Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer & office equipment - 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

ASTROFLAME (FIRESEALS) LIMITED (REGISTERED NUMBER: 02981298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year 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.

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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date . Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2021 - 26 ) .

ASTROFLAME (FIRESEALS) LIMITED (REGISTERED NUMBER: 02981298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2021 1,795,000 49,983 25,763
Additions - - -
Disposals (1,795,000 ) (49,983 ) (11,313 )
At 31 March 2022 - - 14,450
DEPRECIATION
At 1 April 2021 - - 24,746
Charge for year - - 254
Eliminated on disposal - - (10,826 )
At 31 March 2022 - - 14,174
NET BOOK VALUE
At 31 March 2022 - - 276
At 31 March 2021 1,795,000 49,983 1,017

Fixtures Computer
and Motor & Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2021 80,875 68,490 47,145 2,067,256
Additions 1,404 172,010 3,507 176,921
Disposals (41,155 ) (5,000 ) (26,199 ) (1,928,650 )
At 31 March 2022 41,124 235,500 24,453 315,527
DEPRECIATION
At 1 April 2021 65,365 24,699 34,505 149,315
Charge for year 4,024 27,872 3,641 35,791
Eliminated on disposal (40,187 ) (3,700 ) (24,295 ) (79,008 )
At 31 March 2022 29,202 48,871 13,851 106,098
NET BOOK VALUE
At 31 March 2022 11,922 186,629 10,602 209,429
At 31 March 2021 15,510 43,791 12,640 1,917,941

ASTROFLAME (FIRESEALS) LIMITED (REGISTERED NUMBER: 02981298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 April 2021
and 31 March 2022 8,500
DEPRECIATION
At 1 April 2021 8,177
Charge for year 81
At 31 March 2022 8,258
NET BOOK VALUE
At 31 March 2022 242
At 31 March 2021 323

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2021 1,095,000
Disposals (1,095,000 )
At 31 March 2022 -
NET BOOK VALUE
At 31 March 2022 -
At 31 March 2021 1,095,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 982,717 973,601
Amounts owed by group undertakings 3,000 -
Other debtors 262,113 415,416
Directors' current accounts 22,447 8,636
S455 Tax 1,078 503
VAT - 9,090
Deferred tax asset - 5,536
Prepayments and accrued income 58,353 43,421
1,329,708 1,456,203

ASTROFLAME (FIRESEALS) LIMITED (REGISTERED NUMBER: 02981298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 822,025 1,014,509
Amounts owed to participating interests 15,000 -
Tax 137,345 23,416
Social security and other taxes 15,871 12,586
VAT 37,749 -
Other creditors 1,727 1,299
Trade debtor overpayments 4,156 4,156
Deferred income 22,112 5,116
Accrued expenses 28,724 31,810
1,084,709 1,092,892

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 43,667 53,000
Between one and five years 66,667 110,333
110,334 163,333

9. FINANCIAL INSTRUMENTS

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

10. RESERVES
Fair
value
reserve
£   
At 1 April 2021 273,246
Disposal (273,246 )

At 31 March 2022 -

ASTROFLAME (FIRESEALS) LIMITED (REGISTERED NUMBER: 02981298)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022


11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021:

2022 2021
£    £   
Mr P J Kieser
Balance outstanding at start of year 8,636 7,089
Amounts advanced 13,811 1,547
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,447 8,636

All loans are repayable on demand and interest is charged at the HMRC approved rate.

12. RELATED PARTY DISCLOSURES

In order to segregate the property and trade of Astroflame (Fireseals) Limited, the residential and commercial properties have been transferred to Kieser Property Holdings Limited. The transactions took place during the year. Mr P Kieser, a director of Astroflame (Fireseals) Limited owns the 100% shareholding in Kieser Property Holdings Limited.

In July 2021, Astroflame Holdings Limited became 100% shareholder of Astroflame (Fireseals) Limited. Astroflame Holdings Limited is 100% owned by Mr P Kieser, director of Astroflame (Fireseals) Limited. HMRC clearance was obtained for all restructuring transactions. As at the balance sheet date, Astroflame (Fireseals) Limited was owed £3,000 (2021: £0) by Astroflame Holdings Limited.

As at the balance sheet date Astroflame (Fireseals) Limited owed Stormflame Limited £15,000 (2021: £0) a company in which is owed by P Kieser.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ASTROFLAME (FIRESEALS) LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Astroflame (Fireseals) Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Astroflame (Fireseals) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Astroflame (Fireseals) Limited and state those matters that we have agreed to state to the director of Astroflame (Fireseals) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Astroflame (Fireseals) Limited and its director for our work or for this report.

It is your duty to ensure that Astroflame (Fireseals) Limited 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 Astroflame (Fireseals) Limited. You consider that Astroflame (Fireseals) Limited 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 Astroflame (Fireseals) 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.






Rothmans LLP
Chartered Accountants
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN


7 September 2022