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31/03/2023
2023-03-31
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No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
07349664
2022-04-01
2023-03-31
07349664
2023-03-31
07349664
2022-03-31
07349664
2022-03-31
07349664
core:FurnitureFittingsToolsEquipment
2022-04-01
2023-03-31
07349664
core:MotorVehicles
2022-04-01
2023-03-31
07349664
bus:OrdinaryShareClass1
2022-04-01
2023-03-31
07349664
bus:Director1
2022-04-01
2023-03-31
07349664
core:FurnitureFittingsToolsEquipment
2022-03-31
07349664
core:MotorVehicles
2022-03-31
07349664
core:FurnitureFittingsToolsEquipment
2023-03-31
07349664
core:MotorVehicles
2023-03-31
07349664
core:WithinOneYear
2023-03-31
07349664
core:WithinOneYear
2022-03-31
07349664
core:AfterOneYear
2023-03-31
07349664
core:AfterOneYear
2022-03-31
07349664
core:ShareCapital
2023-03-31
07349664
core:ShareCapital
2022-03-31
07349664
core:RetainedEarningsAccumulatedLosses
2023-03-31
07349664
core:RetainedEarningsAccumulatedLosses
2022-03-31
07349664
bus:OrdinaryShareClass1
core:ShareCapital
2023-03-31
07349664
bus:OrdinaryShareClass1
core:ShareCapital
2022-03-31
07349664
core:BetweenOneFiveYears
2023-03-31
07349664
core:FurnitureFittingsToolsEquipment
2022-03-31
07349664
core:MotorVehicles
2022-03-31
07349664
bus:SmallEntities
2022-04-01
2023-03-31
07349664
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
07349664
bus:FullAccounts
2022-04-01
2023-03-31
07349664
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
07349664
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
07349664
core:OtherRelatedParties
2023-03-31
Company registration number:
07349664
Timon Fire Protection Limited
Unaudited filleted financial statements
31 March 2023
Timon Fire Protection Limited
Contents
Statement of financial position
Notes to the financial statements
Timon Fire Protection Limited
Statement of financial position
31 March 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
3 |
16,830 |
|
|
|
56,351 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
16,830 |
|
|
|
56,351 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
17,525 |
|
|
|
17,595 |
|
|
Debtors |
|
4 |
498,105 |
|
|
|
524,995 |
|
|
Cash at bank and in hand |
|
|
- |
|
|
|
260 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
515,630 |
|
|
|
542,850 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
5 |
(
183,529) |
|
|
|
(
249,497) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
332,101 |
|
|
|
293,353 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
348,931 |
|
|
|
349,704 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
6 |
|
|
(
96,420) |
|
|
|
(
196,246) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
2,596) |
|
|
|
(
9,973) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
249,915 |
|
|
|
143,485 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
7 |
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
249,815 |
|
|
|
143,385 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
249,915 |
|
|
|
143,485 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
07 November 2023
, and are signed on behalf of the board by:
Mrs Sophie Timon
Director
Company registration number:
07349664
Timon Fire Protection Limited
Notes to the financial statements
Year ended 31 March 2023
1.
General information
Timon Fire Protection Limited (Company number
07349664
) is a private company limited by shares, registered in England & Wales. The address of the registered office is 11 Albion Place, Maidstone, Kent, ME14 5DY.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered related to the installation and maintenance of fire protection systems, net of discounts and Value Added Tax.
Revenue from those installations and maintenance contracts are recognised when the significant risk and rewards of ownership have transferred to the buyer (usually on completion of the contracted work); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Fittings fixtures and equipment |
- |
25 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimate
s.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
The company only enters into financial instruments transactions that result in the recognition of financial assets and liabilities, such as trade and other debtors and creditors, and loans from banks and other third parties.
2.
Employee numbers
The average number of persons employed by the company, including directors, during the year amounted to 10 (2022: 7).
3.
Tangible assets
|
|
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2022 |
10,028 |
136,391 |
146,419 |
|
|
|
|
|
Disposals |
- |
(
94,100) |
(
94,100) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
10,028 |
42,291 |
52,319 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
3,655 |
86,413 |
90,068 |
|
|
|
|
|
Charge for the year |
1,595 |
4,017 |
5,612 |
|
|
|
|
|
Disposals |
- |
(
60,191) |
(
60,191) |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2023 |
5,250 |
30,239 |
35,489 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
4,778 |
12,052 |
16,830 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 31 March 2022 |
6,373 |
49,978 |
56,351 |
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
|
4.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
134,386 |
142,277 |
|
Other debtors |
|
363,719 |
382,718 |
|
|
|
_______ |
_______ |
|
|
|
498,105 |
524,995 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
105,692 |
96,363 |
|
Trade creditors |
|
32,951 |
30,331 |
|
Social security and other taxes |
|
4,021 |
13,376 |
|
Other creditors |
|
40,865 |
109,427 |
|
|
|
_______ |
_______ |
|
|
|
183,529 |
249,497 |
|
|
|
_______ |
_______ |
|
|
|
|
|
6.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
96,420 |
196,246 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
100 |
|
100 |
|
100 |
|
100 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
8.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
|
|
|
£ |
£ |
|
|
|
Not later than 1 year |
19,253 |
- |
Later than 1 year and not later than 5 years |
36,901 |
- |
|
_______ |
_______ |
|
56,154 |
- |
|
_______ |
_______ |
|
|
|
9.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
|
Transaction value |
|
Balance owed by/(owed to) |
|
|
|
2023 |
2022 |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
|
Timon Property Investment Ltd |
(
55,089) |
(
32,210) |
262,702 |
317,791 |
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
The company provided further loans in the year to Timon Property Investment Limited, a company in which the director of
Timon Fire Protection Limited
is also a director. The loan is interest free and has no set repayment date.