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REGISTERED NUMBER: SC260618 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

ELITE FIRE PROTECTION SERVICES LIMITED

ELITE FIRE PROTECTION SERVICES LIMITED (REGISTERED NUMBER: SC260618)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

ELITE FIRE PROTECTION SERVICES LIMITED

Company Information
for the Year Ended 31 December 2021







DIRECTORS: G Blacker
M Hamilton





SECRETARY: Mrs C Blacker





REGISTERED OFFICE: 29 Brandon Street
Hamilton
South Lanarkshire
ML3 6DA





REGISTERED NUMBER: SC260618 (Scotland)





ACCOUNTANTS: Sharles CA
29 Brandon Street
Hamilton
ML3 6DA

ELITE FIRE PROTECTION SERVICES LIMITED (REGISTERED NUMBER: SC260618)

Balance Sheet
31 December 2021

31/12/21 31/12/20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 28,335 41,485

CURRENT ASSETS
Stocks 1,885 1,897
Debtors 6 117,157 115,023
Cash at bank 20,036 32,828
139,078 149,748
CREDITORS
Amounts falling due within one year 7 112,071 110,868
NET CURRENT ASSETS 27,007 38,880
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,342

80,365

CREDITORS
Amounts falling due after more than one
year

8

(49,680

)

(71,992

)

PROVISIONS FOR LIABILITIES (5,384 ) (7,882 )
NET ASSETS 278 491

CAPITAL AND RESERVES
Called up share capital 8 8
Retained earnings 270 483
SHAREHOLDERS' FUNDS 278 491

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

ELITE FIRE PROTECTION SERVICES LIMITED (REGISTERED NUMBER: SC260618)

Balance Sheet - continued
31 December 2021


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 Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:




G Blacker - Director



M Hamilton - Director


ELITE FIRE PROTECTION SERVICES LIMITED (REGISTERED NUMBER: SC260618)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Elite Fire Protection Services Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover is derived from the various fire protection services and products supplied by the company.

Turnover is measured at the fair value of the services and products supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - Straight line over 4 years

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Stocks
Stocks are valued at the lower of cost and expected selling price less costs to complete, after making due allowance for obsolete and slow moving items.

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 that have been enacted or substantively enacted by the balance sheet date.


ELITE FIRE PROTECTION SERVICES LIMITED (REGISTERED NUMBER: SC260618)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

3. 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 52,599
DEPRECIATION
At 1 January 2021 11,114
Charge for year 13,150
At 31 December 2021 24,264
NET BOOK VALUE
At 31 December 2021 28,335
At 31 December 2020 41,485

ELITE FIRE PROTECTION SERVICES LIMITED (REGISTERED NUMBER: SC260618)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 51,786
DEPRECIATION
At 1 January 2021 10,809
Charge for year 12,947
At 31 December 2021 23,756
NET BOOK VALUE
At 31 December 2021 28,030
At 31 December 2020 40,977

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors 44,761 61,501
Other debtors 72,396 53,522
117,157 115,023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Bank loans and overdrafts 7,756 4,986
Hire purchase contracts 9,709 9,709
Trade creditors 719 655
Taxation and social security 93,782 95,160
Other creditors 105 358
112,071 110,868

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/21 31/12/20
£    £   
Bank loans 28,009 35,214
Hire purchase contracts 21,671 36,778
49,680 71,992

ELITE FIRE PROTECTION SERVICES LIMITED (REGISTERED NUMBER: SC260618)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

9. SECURED DEBTS

The following secured debts are included within creditors:

31/12/21 31/12/20
£    £   
Bank loans 35,765 40,200
Hire purchase contracts 31,380 46,487
67,145 86,687

The overdraft facility is secured by a bond and floating charge over the assets of the company and a personal guarantee for £25,000 by G Blacker and M Hamilton.

The bank loan is supported by a 100% guarantee from the UK Government.

Hire purchase contracts are secured against the assets concerned.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2021 and 31 December 2020:

31/12/21 31/12/20
£    £   
G Blacker
Balance outstanding at start of year 21,047 23,544
Amounts advanced 7,123 -
Amounts repaid - (2,497 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,170 21,047

M Hamilton
Balance outstanding at start of year 21,047 23,544
Amounts advanced 7,123 -
Amounts repaid - (2,497 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,170 21,047

These balances are unsecured, interest free and have no fixed repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Elite Fire Protection Services Limited

The following reproduces the text of the report prepared for the directors 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 Directors 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 Elite Fire Protection Services Limited for the year ended 31 December 2021 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Elite Fire Protection Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Elite Fire Protection Services Limited and state those matters that we have agreed to state to the Board of Directors of Elite Fire Protection Services Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Elite Fire Protection Services 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 Elite Fire Protection Services Limited. You consider that Elite Fire Protection Services 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 Elite Fire Protection Services 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.






Sharles CA
29 Brandon Street
Hamilton
ML3 6DA


7 September 2022