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REGISTERED NUMBER: 07948123 (England and Wales)










Aalto Fire Ltd

Unaudited Financial Statements

for the Year Ended 29 February 2024






Aalto Fire Ltd (Registered number: 07948123)






Contents of the Financial Statements
for the year ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

Aalto Fire Ltd

Company Information
for the year ended 29 February 2024







DIRECTOR: J J O'Brien





REGISTERED OFFICE: Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ





REGISTERED NUMBER: 07948123 (England and Wales)





ACCOUNTANTS: Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ

Aalto Fire Ltd (Registered number: 07948123)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 19,391 4,843
19,391 4,843

CURRENT ASSETS
Debtors 6 190,785 181,240

CREDITORS
Amounts falling due within one year 7 (95,325 ) (116,311 )
NET CURRENT ASSETS 95,460 64,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,851

69,772

CREDITORS
Amounts falling due after more than one
year

8

(100,375

)

(26,713

)

PROVISIONS FOR LIABILITIES (3,684 ) (920 )
NET ASSETS 10,792 42,139

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 10,790 42,137
SHAREHOLDERS' FUNDS 10,792 42,139

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Aalto Fire Ltd (Registered number: 07948123)

Balance Sheet - continued
29 February 2024


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 3 April 2024 and were signed by:





J J O'Brien - Director


Aalto Fire Ltd (Registered number: 07948123)

Notes to the Financial Statements
for the year ended 29 February 2024

1. STATUTORY INFORMATION

Aalto Fire Ltd 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.

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


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.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Aalto Fire Ltd (Registered number: 07948123)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off 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 - 25% on cost and 25% on reducing balance

All tangible fixed assets are at cost less accumulated depreciation. 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.

Assets held under finance lease are depreciated in the same manner as owned assets.

Renewals, repairs and maintenance are charged to profit and loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a mixture of methods. The depreciation bases are as detailed above.

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 disposal are determined by comparing the proceeds with the carrying amount and are credited or charged to the income statement.

Impairment of fixed assets
At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indications exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. 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.

If the recoverable amount of an asset is estimated to be less that its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reserves, the carrying amount of the asset is increased to the revised estimate of its recoverable amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in the prior years. A reversal of an impairment loss is recognised as income immediately.

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.


Aalto Fire Ltd (Registered number: 07948123)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

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.

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.

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 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 10,000
AMORTISATION
At 1 March 2023
and 29 February 2024 10,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

Aalto Fire Ltd (Registered number: 07948123)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 19,820
Additions 17,527
At 29 February 2024 37,347
DEPRECIATION
At 1 March 2023 14,977
Charge for year 2,979
At 29 February 2024 17,956
NET BOOK VALUE
At 29 February 2024 19,391
At 28 February 2023 4,843

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

Plant and
machinery
etc
£   
COST
Additions 16,250
At 29 February 2024 16,250
DEPRECIATION
Charge for year 1,354
At 29 February 2024 1,354
NET BOOK VALUE
At 29 February 2024 14,896

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 38,579 54,217
Other debtors 152,206 127,023
190,785 181,240

Aalto Fire Ltd (Registered number: 07948123)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 16,297 21,023
Hire purchase contracts (see note 9) 3,355 -
Trade creditors 6,389 20,236
Taxation and social security 27,560 52,644
Other creditors 41,724 22,408
95,325 116,311

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 14,313 26,713
Hire purchase contracts (see note 9) 11,100 -
Other creditors 74,962 -
100,375 26,713

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year 3,355 -
Between one and five years 11,100 -
14,455 -

Non-cancellable operating leases
29.2.24 28.2.23
£    £   
Within one year 6,110 -
Between one and five years 6,021 -
12,131 -

Aalto Fire Ltd (Registered number: 07948123)

Notes to the Financial Statements - continued
for the year ended 29 February 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
J J O'Brien
Balance outstanding at start of year 94,640 66,312
Amounts advanced 130,327 61,017
Amounts repaid (94,326 ) (32,689 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 130,641 94,640

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Aalto Fire Ltd

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 Aalto Fire Ltd for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet 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 Aalto Fire Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aalto Fire Ltd and state those matters that we have agreed to state to the director of Aalto Fire Ltd 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 Aalto Fire Ltd and its director for our work or for this report.

It is your duty to ensure that Aalto Fire Ltd 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 Aalto Fire Ltd. You consider that Aalto Fire 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 financial statements of Aalto Fire 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 financial statements.






Walkers Accountants Limited
Aireside House
Aireside Business Centre
Royd Ings Avenue
Keighley
West Yorkshire
BD21 4BZ


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