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REGISTERED NUMBER: 06551580 (England and Wales)















Innovative Fire & Security Limited

Unaudited Financial Statements

for the Period 1 July 2022 to 31 October 2023






Innovative Fire & Security Limited (Registered number: 06551580)






Contents of the Financial Statements
for the Period 1 July 2022 to 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Innovative Fire & Security Limited

Company Information
for the Period 1 July 2022 to 31 October 2023







Directors: Evans Electrical Holdings Limited
S Jones
Ms M Vincent





Registered office: 59 Waterloo Road
Penylan
Cardiff
CF23 9BL





Registered number: 06551580 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Innovative Fire & Security Limited (Registered number: 06551580)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 180,792 84,406
180,792 84,406

Current assets
Stocks 26,596 26,596
Debtors 6 196,983 274,022
Cash at bank 96,151 57,211
319,730 357,829
Creditors
Amounts falling due within one year 7 (154,653 ) (285,803 )
Net current assets 165,077 72,026
Total assets less current liabilities 345,869 156,432

Creditors
Amounts falling due after more than one year 8 (19,837 ) (32,837 )

Provisions for liabilities (32,392 ) -
Net assets 293,640 123,595

Capital and reserves
Called up share capital 100 101
Retained earnings 293,540 123,494
293,640 123,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Innovative Fire & Security Limited (Registered number: 06551580)

Balance Sheet - continued
31 October 2023


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 Board of Directors and authorised for issue on 28 July 2024 and were signed on its behalf by:





Ms M Vincent - Director


Innovative Fire & Security Limited (Registered number: 06551580)

Notes to the Financial Statements
for the Period 1 July 2022 to 31 October 2023

1. Statutory information

Innovative Fire & Security Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 - 20% Reducing Balance
Motor Vehicles - 25% Reducing Balance
Computer Equipment - 20% Reducing Balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowances for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues or FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recongised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the period 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.


Innovative Fire & Security Limited (Registered number: 06551580)

Notes to the Financial Statements - continued
for the Period 1 July 2022 to 31 October 2023

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 period 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.

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.

Going concern
At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue trading for the foreseeable future. In particular, the directors reviewed the obligations under the company's finance documents and is satisfied that the company will continue to meet these obligations. Therefore the directors continues to adopt the going concern basis of accounting in preparing these financial statements.

Reporting period
These financial statements cover the period from 1 July 2022 to 31 October 2023 which represents a 16 month period.

3. Employees and directors

The average number of employees during the period was 15 (2022 - 11 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 July 2022
and 31 October 2023 10,000
Amortisation
At 1 July 2022
and 31 October 2023 10,000
Net book value
At 31 October 2023 -
At 30 June 2022 -

Innovative Fire & Security Limited (Registered number: 06551580)

Notes to the Financial Statements - continued
for the Period 1 July 2022 to 31 October 2023

5. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 July 2022 86,126 40,287 22,836 149,249
Additions - 127,520 4,959 132,479
Disposals - (8,111 ) - (8,111 )
At 31 October 2023 86,126 159,696 27,795 273,617
Depreciation
At 1 July 2022 32,816 14,743 17,284 64,843
Charge for period 10,662 15,868 1,452 27,982
At 31 October 2023 43,478 30,611 18,736 92,825
Net book value
At 31 October 2023 42,648 129,085 9,059 180,792
At 30 June 2022 53,310 25,544 5,552 84,406

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 75,728 248,755
Amounts owed by group undertakings 103,951 -
VAT 9,121 7,059
Prepayments 8,183 18,208
196,983 274,022

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,053 10,053
Trade creditors 126,642 235,781
Amounts owed to group undertakings 6,870 -
Social security and other taxes - 32,310
Other creditors 1,271 -
Accrued expenses 9,817 7,659
154,653 285,803

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 10,292 10,644
Bank loans - 2-5 years 9,545 22,193
19,837 32,837

Innovative Fire & Security Limited (Registered number: 06551580)

Notes to the Financial Statements - continued
for the Period 1 July 2022 to 31 October 2023

9. Related party disclosures

During the period to 31 October 2023 the company sold goods and services totalling £778,744 to Evans Electrical Limited, a fellow subsidiary of Evans Electrical Holdings Limited. As at 31 October 2023 an amount is due to the company of £103,951. This amount is included within debtors falling due within one.

The company also purchases goods and services to the value of £17,868. As at 31 October 2023 an amount is due to the company of £6,870. This amount is included within creditors falling due within one.

10. Ultimate controlling party

The company is a subsidiary of Evans Electrical Holdings Limited. The company is ultimately controlled by Evans Electrical Holdings Limited by virtue of its shareholding.