Silverfin false false 30/09/2023 01/10/2022 30/09/2023 James Ross Graham 28/07/2011 Stuart Howard Graham 28/07/2011 Philip Mckenna 28/07/2011 20 February 2024 The principal activity of the Company during the financial year continued to be that of the provision of fire and water services. SC404312 2023-09-30 SC404312 bus:Director1 2023-09-30 SC404312 bus:Director2 2023-09-30 SC404312 bus:Director3 2023-09-30 SC404312 2022-09-30 SC404312 core:CurrentFinancialInstruments 2023-09-30 SC404312 core:CurrentFinancialInstruments 2022-09-30 SC404312 core:Non-currentFinancialInstruments 2023-09-30 SC404312 core:Non-currentFinancialInstruments 2022-09-30 SC404312 core:ShareCapital 2023-09-30 SC404312 core:ShareCapital 2022-09-30 SC404312 core:RetainedEarningsAccumulatedLosses 2023-09-30 SC404312 core:RetainedEarningsAccumulatedLosses 2022-09-30 SC404312 core:Goodwill 2022-09-30 SC404312 core:Goodwill 2023-09-30 SC404312 core:LandBuildings 2022-09-30 SC404312 core:OtherPropertyPlantEquipment 2022-09-30 SC404312 core:LandBuildings 2023-09-30 SC404312 core:OtherPropertyPlantEquipment 2023-09-30 SC404312 2021-09-30 SC404312 bus:OrdinaryShareClass1 2023-09-30 SC404312 bus:OrdinaryShareClass2 2023-09-30 SC404312 bus:OrdinaryShareClass3 2023-09-30 SC404312 bus:OrdinaryShareClass4 2023-09-30 SC404312 bus:OrdinaryShareClass5 2023-09-30 SC404312 2022-10-01 2023-09-30 SC404312 bus:FilletedAccounts 2022-10-01 2023-09-30 SC404312 bus:SmallEntities 2022-10-01 2023-09-30 SC404312 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 SC404312 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC404312 bus:Director1 2022-10-01 2023-09-30 SC404312 bus:Director2 2022-10-01 2023-09-30 SC404312 bus:Director3 2022-10-01 2023-09-30 SC404312 core:Goodwill core:TopRangeValue 2022-10-01 2023-09-30 SC404312 core:Goodwill 2022-10-01 2023-09-30 SC404312 core:LandBuildings core:TopRangeValue 2022-10-01 2023-09-30 SC404312 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 SC404312 2021-10-01 2022-09-30 SC404312 core:LandBuildings 2022-10-01 2023-09-30 SC404312 core:CurrentFinancialInstruments 2022-10-01 2023-09-30 SC404312 core:Non-currentFinancialInstruments 2022-10-01 2023-09-30 SC404312 1 2022-10-01 2023-09-30 SC404312 1 2021-10-01 2022-09-30 SC404312 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 SC404312 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 SC404312 bus:OrdinaryShareClass2 2022-10-01 2023-09-30 SC404312 bus:OrdinaryShareClass2 2021-10-01 2022-09-30 SC404312 bus:OrdinaryShareClass3 2022-10-01 2023-09-30 SC404312 bus:OrdinaryShareClass3 2021-10-01 2022-09-30 SC404312 bus:OrdinaryShareClass4 2022-10-01 2023-09-30 SC404312 bus:OrdinaryShareClass4 2021-10-01 2022-09-30 SC404312 bus:OrdinaryShareClass5 2022-10-01 2023-09-30 SC404312 bus:OrdinaryShareClass5 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC404312 (Scotland)

GRAHAM FIRE PROTECTION LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

GRAHAM FIRE PROTECTION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023

Contents

GRAHAM FIRE PROTECTION LTD

BALANCE SHEET

AS AT 30 SEPTEMBER 2023
GRAHAM FIRE PROTECTION LTD

BALANCE SHEET (continued)

AS AT 30 SEPTEMBER 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 31,200 0
Tangible assets 4 93,027 74,724
124,227 74,724
Current assets
Stocks 5 15,896 19,279
Debtors 6 116,969 127,991
Cash at bank and in hand 7 123,185 108,149
256,050 255,419
Creditors: amounts falling due within one year 8 ( 138,845) ( 129,661)
Net current assets 117,205 125,758
Total assets less current liabilities 241,432 200,482
Creditors: amounts falling due after more than one year 9 ( 33,866) ( 44,542)
Provision for liabilities 10, 11 ( 17,544) ( 13,056)
Net assets 190,022 142,884
Capital and reserves
Called-up share capital 12 51 51
Profit and loss account 189,971 142,833
Total shareholders' funds 190,022 142,884

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Graham Fire Protection Ltd (registered number: SC404312) were approved and authorised for issue by the Director on 20 February 2024. They were signed on its behalf by:

Stuart Howard Graham
Director
GRAHAM FIRE PROTECTION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
GRAHAM FIRE PROTECTION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 SEPTEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Graham Fire Protection Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 66 Tay Street, Perth, PH2 8RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the sale and maintenance of fire protection and water services equipment provided in the normal course of business, and is shown net of VAT.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under hire purchase contracts, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 13

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2022 0 0
Additions 32,000 32,000
At 30 September 2023 32,000 32,000
Accumulated amortisation
At 01 October 2022 0 0
Charge for the financial year 800 800
At 30 September 2023 800 800
Net book value
At 30 September 2023 31,200 31,200
At 30 September 2022 0 0

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 October 2022 22,500 107,771 130,271
Additions 0 45,015 45,015
Disposals 0 ( 43,549) ( 43,549)
At 30 September 2023 22,500 109,237 131,737
Accumulated depreciation
At 01 October 2022 0 55,547 55,547
Charge for the financial year 450 17,932 18,382
Disposals 0 ( 35,219) ( 35,219)
At 30 September 2023 450 38,260 38,710
Net book value
At 30 September 2023 22,050 70,977 93,027
At 30 September 2022 22,500 52,224 74,724

5. Stocks

2023 2022
£ £
Stocks 15,896 19,279

6. Debtors

2023 2022
£ £
Trade debtors 116,209 127,431
Other debtors 760 560
116,969 127,991

7. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 123,185 108,149

8. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,013 9,760
Trade creditors 53,902 58,984
Taxation and social security 52,508 41,943
Obligations under finance leases and hire purchase contracts 8,131 11,342
Other creditors 14,291 7,632
138,845 129,661

Included within bank loans are amounts advanced to the company under the Bounce Back Loan Scheme. This loan scheme is fully backed by a government guarantee.

Net obligations under hire purchase contracts are secured over the assets to which they relate.

9. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 19,987 30,240
Obligations under finance leases and hire purchase contracts 13,879 14,302
33,866 44,542

Included within bank loans are amounts advanced to the company under the Bounce Back Loan Scheme. This loan scheme is fully backed by a government guarantee.

Net obligations under hire purchase contracts are secured over the assets to which they relate.

10. Provision for liabilities

2023 2022
£ £
Deferred tax 17,544 13,056

11. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 13,056) ( 10,844)
Charged to the Statement of Income and Retained Earnings ( 4,488) ( 2,212)
0 0
At the end of financial year ( 17,544) ( 13,056)

12. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
15 A ordinary shares of £ 1.00 each 15 15
10 B ordinary shares of £ 1.00 each 10 10
10 C ordinary shares of £ 1.00 each 10 10
10 D ordinary shares of £ 1.00 each 10 10
6 E ordinary shares of £ 1.00 each 6 6
51 51