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REGISTERED NUMBER: 10045649 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

FIRE DOOR INSPECTION SOLUTIONS LIMITED

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FIRE DOOR INSPECTION SOLUTIONS LIMITED

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTORS: N J Richmond
A Edwards
A Malhan





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
Warwickshire
CV23 0UZ





REGISTERED NUMBER: 10045649 (England and Wales)





AUDITORS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 94,575 10,671
Investments 5 2 1
94,577 10,672

CURRENT ASSETS
Stocks 23,903 50,821
Debtors 6 2,934,992 2,509,111
Cash at bank 384,840 160,785
3,343,735 2,720,717
CREDITORS
Amounts falling due within one year 7 (1,585,964 ) (584,777 )
NET CURRENT ASSETS 1,757,771 2,135,940
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,852,348

2,146,612

CREDITORS
Amounts falling due after more than one
year

8

(25,194

)

-

PROVISIONS FOR LIABILITIES (20,979 ) -
NET ASSETS 1,806,175 2,146,612

CAPITAL AND RESERVES
Called up share capital 11 109,565 109,565
Capital redemption reserve (99,565 ) (99,565 )
Retained earnings 1,796,175 2,136,612
SHAREHOLDERS' FUNDS 1,806,175 2,146,612

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 Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by:





N J Richmond - Director


FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2023


1. 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.

The company's functional currency and presentational currency is Sterling (£).

Consolidated accounts for the group are prepared by the ultimate parent company Integrated Doorset Solutions Limited.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to each of the company’s sales channels have been met.

Intangible assets
Intangible fixed assets are stated at cost less amortisation. Cost represents purchase price together with any incidental costs of acquisition.

Amortisation is provided at the following annual rates in order to write off each asset, net of anticipated disposal proceeds, over its estimated useful economic life. Amortisation is charged at the following rates:

Intellectual property - 25% straight line

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery- 25% straight line
Computer equipment- 25% straight line
Fixtures and Fittings- 25% straight line

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 disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investments in subsidiaries
Investments in the subsidiary companies are held at cost less accumulated impairment losses.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each Balance Sheet date, stocks are assessed for impairment. If stock is 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.

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


1. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances 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 rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

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

Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, 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.

(i) Current tax
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

(ii) Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These 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 recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Share capital
Ordinary shares are classified as equity.

Research and development
Expenditure on research and development is written off in the period it is incurred.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 29 ) .

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


3. INTANGIBLE FIXED ASSETS
Intellectual
Property
£   
COST
At 1 October 2022
and 30 September 2023 58,971
AMORTISATION
At 1 October 2022
and 30 September 2023 58,971
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022 10,636 2,022 - 41,492 54,150
Additions - - 100,728 3,093 103,821
At 30 September 2023 10,636 2,022 100,728 44,585 157,971
DEPRECIATION
At 1 October 2022 7,537 1,486 - 34,456 43,479
Charge for year 1,711 174 14,951 3,081 19,917
At 30 September 2023 9,248 1,660 14,951 37,537 63,396
NET BOOK VALUE
At 30 September 2023 1,388 362 85,777 7,048 94,575
At 30 September 2022 3,099 536 - 7,036 10,671

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022 1
Additions 1
At 30 September 2023 2
NET BOOK VALUE
At 30 September 2023 2
At 30 September 2022 1

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,227,310 1,269,153
Amounts owed by group undertakings 372,679 954,469
Other debtors 6,500 950
VAT - 5,012
Prepayments and accrued income 328,503 279,527
2,934,992 2,509,111

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 18,895 -
Trade creditors 140,240 68,333
Amounts owed to group undertakings 282,556 -
Tax 451,936 559
Social security and other taxes 37,692 33,209
Pensions 5,086 5,557
VAT 17,289 -
Other creditors 63,670 95,810
Accruals and deferred income 568,600 381,309
1,585,964 584,777

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 25,194 -

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 18,895 -
Between one and five years 25,194 -
44,089 -

The future minimum hire purchase lease payments are as follows:
2023 2022
£ £
Not later than one year 20,936 -
Later than one year and not later than five years 26,170 -
Total gross payments 47,106 -
Less: finance charges (3,017 ) -
Carrying amount of liability 44,089 -

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase 44,089 -

The net obligations under hire purchase contracts are secured on the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
109,565 Ordinary £1 109,565 109,565

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Victoria Craig (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year purchases of £127,020 (2022: £73,366) were made from and sales of £12,000 (2022: £nil) were made to a company with common directors. At the year end £14,400 (2022: -£8,297) was due from this related company.

During the year sales of £4,552 (2022: £13,656) were made to a company with common directors.

14. ULTIMATE CONTROLLING PARTY

Integrated Doorset Solutions Limited is considered the ultimate parent company by virtue of its majority shareholding.

There was no ultimate controlling party in the current or the prior period, as no single shareholder has control of the parent company by virtue of shareholding.