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Registration number: 12265940

Arrow Fire Protection Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Arrow Fire Protection Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 16

iXBRL Detailed Profit and Loss Account

17 to 18

 

Arrow Fire Protection Ltd

Company Information

Director

Mr C Brown

Registered office

320 Garratt Lane
London
SW18 4EJ

Accountants

Franklin, Chartered Accountants
320 Garratt Lane
London
SW18 4EJ

 

Arrow Fire Protection Ltd

Director's Report for the Year Ended 31 October 2023

The director presents his report and the financial statements for the year ended 31 October 2023.

Director of the company

The director who held office during the year was as follows:

Mr C Brown

Principal activity

The principal activity of the company is Servicing and testing of fire protection equipment.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 28 November 2023 and signed on its behalf by:

.........................................
Mr C Brown
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Arrow Fire Protection Ltd
for the Year Ended 31 October 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Arrow Fire Protection Ltd for the year ended 31 October 2023 as set out on pages 4 to 16 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Arrow Fire Protection Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Arrow Fire Protection Ltd and state those matters that we have agreed to state to the Board of Directors of Arrow Fire Protection Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Arrow Fire Protection Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Arrow Fire Protection Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Arrow Fire Protection Ltd. You consider that Arrow Fire Protection Ltd 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 accounts of Arrow Fire Protection Ltd. 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 accounts.

......................................

Franklin, Chartered Accountants
320 Garratt Lane
London
SW18 4EJ

Date:.............................

 

Arrow Fire Protection Ltd

Profit and Loss Account for the Year Ended 31 October 2023

Note

2023
£

2022
£

Turnover

 

99,247

100,305

Cost of sales

 

(25,236)

(23,054)

Gross profit

 

74,011

77,251

Administrative expenses

 

(33,351)

(24,518)

Operating profit

 

40,660

52,733

Other interest receivable and similar income

 

29

47

Interest payable and similar expenses

 

(919)

-

   

(890)

47

Profit before tax

4

39,770

52,780

Tax on profit

 

(7,621)

(10,051)

Profit for the financial year

 

32,149

42,729

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Arrow Fire Protection Ltd

Statement of Comprehensive Income for the Year Ended 31 October 2023

2023
£

2022
£

Profit for the year

32,149

42,729

Total comprehensive income for the year

32,149

42,729

 

Arrow Fire Protection Ltd

(Registration number: 12265940)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

17,080

5,696

Current assets

 

Stocks

6

700

700

Debtors

7

11,991

15,455

Cash at bank and in hand

 

14,737

11,415

 

27,428

27,570

Creditors: Amounts falling due within one year

8

(18,434)

(20,976)

Net current assets

 

8,994

6,594

Total assets less current liabilities

 

26,074

12,290

Creditors: Amounts falling due after more than one year

8

(2,672)

-

Provisions for liabilities

(3,245)

(1,082)

Net assets

 

20,157

11,208

Capital and reserves

 

Called up share capital

9

110

110

Retained earnings

20,047

11,098

Shareholders' funds

 

20,157

11,208

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 28 November 2023
 

 

Arrow Fire Protection Ltd

(Registration number: 12265940)
Balance Sheet as at 31 October 2023

.........................................
Mr C Brown
Director

 

Arrow Fire Protection Ltd

Statement of Changes in Equity for the Year Ended 31 October 2023

Share capital
£

Retained earnings
£

Total
£

At 1 November 2022

110

11,098

11,208

Profit for the year

-

32,149

32,149

Dividends

-

(23,200)

(23,200)

At 31 October 2023

110

20,047

20,157

Share capital
£

Retained earnings
£

Total
£

At 1 November 2021

110

12,396

12,506

Profit for the year

-

42,729

42,729

Dividends

-

(44,027)

(44,027)

At 31 October 2022

110

11,098

11,208

 

Arrow Fire Protection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
320 Garratt Lane
London
SW18 4EJ

These financial statements were authorised for issue by the director on 28 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Arrow Fire Protection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% on a straight line basis.

Vehicles

20% on a straight line basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Arrow Fire Protection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Arrow Fire Protection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Financial instruments

Classification
The Company has chosen to adopt sections 11 and 12 of FRS 102 in respect of financial instruments.

 Recognition and measurement
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

 Impairment
Financial instruments are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Arrow Fire Protection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

5,616

2,349

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

1,827

8,700

-

10,527

Additions

-

-

17,000

17,000

At 31 October 2023

1,827

8,700

17,000

27,527

Depreciation

At 1 November 2022

1,351

3,480

-

4,831

Charge for the year

476

1,740

3,400

5,616

At 31 October 2023

1,827

5,220

3,400

10,447

Carrying amount

At 31 October 2023

-

3,480

13,600

17,080

At 31 October 2022

476

5,220

-

5,696

6

Stocks

2023
£

2022
£

Other inventories

700

700

7

Debtors

Current

2023
£

2022
£

Trade debtors

11,309

15,342

Prepayments

584

-

Other debtors

98

113

 

11,991

15,455

 

Arrow Fire Protection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

4,348

-

Taxation and social security

 

10,042

15,851

Other creditors

 

4,044

5,125

 

18,434

20,976

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

2,672

-

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

10

10

10

10

 

110

110

110

110

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,672

-

 

Arrow Fire Protection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,348

-

11

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £222.00 (2022 - £420.27) per each Ordinary A

 

22,200

 

42,027

Interim dividend of £100.00 (2022 - £200.00) per each Ordinary B

 

1,000

 

2,000

   

23,200

 

44,027

12

Related party transactions

 

Arrow Fire Protection Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,200

9,200

Contributions paid to money purchase schemes

1,200

300

10,400

9,500

 

Arrow Fire Protection Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 31 October 2023

2023
£

2022
£

Turnover/revenue

99,247

100,305

Cost of sales

Opening merchandise

(700)

-

Purchase of raw materials and consumables

(17,471)

(18,284)

Closing merchandise

700

700

Subcontractor costs

(7,765)

(5,470)

Gross profit

74,011

77,251

Distribution costs

Administrative expenses

Audit and accountancy other services

(1,779)

(2,361)

Advertising, promotions and marketing costs

(158)

(213)

Client entertaining costs

(338)

(119)

Other repairs and maintenance costs

(908)

(121)

Depreciation of fixed assets

(5,616)

(2,349)

Vehicle costs

(4,660)

(4,132)

Salaries and fees, directors

(9,200)

(9,200)

Social security costs, directors

(15)

(29)

Company contributions to money purchase plans, directors

(1,200)

(300)

Staff costs, directors

(10,415)

(9,529)

Travel and subsistence

(1,520)

(1,408)

Legal and professional costs

(4,435)

(750)

Bad debts and impairment losses

(768)

(737)

Bank charges

(313)

(319)

Insurance costs

(363)

(615)

IT and computing

(46)

(22)

Telecommunications

(759)

(623)

Charitable donations

-

(50)

Subscriptions

(34)

(230)

Other costs

(1,239)

(940)

Other operating income

Other items

Profit on ordinary activities before finance charges and interest

40,660

52,733

Bank interest and similar income receivable

29

47

Interest expense on bank overdraft, bank loans and similar borrowings

(919)

-

 

Arrow Fire Protection Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 31 October 2023

2023
£

2022
£

Profit on ordinary activities before taxation

39,770

52,780

Tax on profit or loss on ordinary activities

(7,621)

(10,051)

Profit for the financial year

32,149

42,729