Silverfin false false 31/03/2024 20/03/2023 31/03/2024 Morag Ruth Dalton 20/03/2023 Scott Paul Dalton 20/03/2023 30 July 2024 The principal activity of the company in this period was the installation of fire sprinkler systems. The company commenced trading on 01 April 2023. SC763013 2024-03-31 SC763013 bus:Director1 2024-03-31 SC763013 bus:Director2 2024-03-31 SC763013 core:CurrentFinancialInstruments 2024-03-31 SC763013 core:ShareCapital 2024-03-31 SC763013 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC763013 bus:OrdinaryShareClass1 2024-03-31 SC763013 core:KeyManagementPersonnel 2024-03-31 SC763013 2023-03-20 2024-03-31 SC763013 bus:FilletedAccounts 2023-03-20 2024-03-31 SC763013 bus:SmallEntities 2023-03-20 2024-03-31 SC763013 bus:AuditExemptWithAccountantsReport 2023-03-20 2024-03-31 SC763013 bus:PrivateLimitedCompanyLtd 2023-03-20 2024-03-31 SC763013 bus:Director1 2023-03-20 2024-03-31 SC763013 bus:Director2 2023-03-20 2024-03-31 SC763013 bus:OrdinaryShareClass1 2023-03-20 2024-03-31 SC763013 core:KeyManagementPersonnel 2023-03-20 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC763013 (Scotland)

FIRE SPRINKLER SERVICES SCOTLAND LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 20 MARCH 2023 TO 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

FIRE SPRINKLER SERVICES SCOTLAND LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 20 MARCH 2023 TO 31 MARCH 2024

Contents

FIRE SPRINKLER SERVICES SCOTLAND LTD

BALANCE SHEET

AS AT 31 MARCH 2024
FIRE SPRINKLER SERVICES SCOTLAND LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 31.03.2024
£
Current assets
Debtors 3 7,296
Cash at bank and in hand 4 21,161
28,457
Creditors: amounts falling due within one year 5 ( 28,451)
Net current assets 6
Total assets less current liabilities 6
Net assets 6
Capital and reserves
Called-up share capital 6 2
Profit and loss account 4
Total shareholders' funds 6

For the financial period ending 31 March 2024 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 Fire Sprinkler Services Scotland Ltd (registered number: SC763013) were approved and authorised for issue by the Board of Directors on 30 July 2024. They were signed on its behalf by:

Scott Paul Dalton
Director
FIRE SPRINKLER SERVICES SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 20 MARCH 2023 TO 31 MARCH 2024
FIRE SPRINKLER SERVICES SCOTLAND LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 20 MARCH 2023 TO 31 MARCH 2024
1. Accounting policies

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

General information and basis of accounting

Fire Sprinkler Services Scotland 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 116 Cedar Drive, Perth, PH1 1RJ, Scotland, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The financial statements cover the period from incorporation on 20 March 2023 to 31 March 2024.

There are no comparative figures due to this being the first accounting period.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue is recognised when the company is entitled to income in exchange for the provision of services.

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.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include 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 bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

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.

2. Employees

Period from
20.03.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Debtors

31.03.2024
£
Other debtors 7,296

4. Cash and cash equivalents

31.03.2024
£
Cash at bank and in hand 21,161

5. Creditors: amounts falling due within one year

31.03.2024
£
Taxation and social security 5,650
Other creditors 22,801
28,451

6. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2

7. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

31.03.2024
£
Amounts owed to directors 21,022

During the period advances totalling £2,302 were made to the directors and £23,324 was repaid. The loan is unsecured, interest free and repayable on demand.