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COMPANY REGISTRATION NUMBER: SC481230
Fire Protection Maintenance Services Limited
Filleted Unaudited Financial Statements
For the year ended
31 August 2023
Fire Protection Maintenance Services Limited
Statement of Financial Position
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,974
3,857
Current assets
Debtors
6
14,045
21,694
Cash at bank and in hand
47,513
33,822
--------
--------
61,558
55,516
Creditors: amounts falling due within one year
7
42,027
33,194
--------
--------
Net current assets
19,531
22,322
--------
--------
Total assets less current liabilities
22,505
26,179
--------
--------
Net assets
22,505
26,179
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
22,405
26,079
--------
--------
Shareholders funds
22,505
26,179
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Fire Protection Maintenance Services Limited
Statement of Financial Position (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 26 April 2024 , and are signed on behalf of the board by:
S Murphy
Director
Company registration number: SC481230
Fire Protection Maintenance Services Limited
Notes to the Financial Statements
Year ended 31 August 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 33 Kittoch Street, East Kilbride, Glasgow, G74 4JW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant & Machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 September 2022 and 31 August 2023
1,443
7,990
4,499
13,932
-------
-------
-------
--------
Depreciation
At 1 September 2022
631
6,568
2,876
10,075
Charge for the year
203
355
325
883
-------
-------
-------
--------
At 31 August 2023
834
6,923
3,201
10,958
-------
-------
-------
--------
Carrying amount
At 31 August 2023
609
1,067
1,298
2,974
-------
-------
-------
--------
At 31 August 2022
812
1,422
1,623
3,857
-------
-------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
14,045
21,394
Other debtors
300
--------
--------
14,045
21,694
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
15
3,764
Corporation tax
9,707
8,578
Social security and other taxes
4,300
5,319
Other creditors
28,005
15,533
--------
--------
42,027
33,194
--------
--------
8. Related party transactions
Control:- The company was under the control of S Murphy throughout the period. S Murphy is a Director and together with members of his close family controls the entire issued share capital of the company. Transactions:- No transactions with related parties were undertaken such as are required to be disclosed under Section 1A of FRS 102.