Company registration number SC289747 (Scotland)
INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
COMPANY INFORMATION
Directors
N Montgomery
R Arora
D Miller
(Appointed 12 April 2024)
R Earle
(Appointed 12 April 2024)
L Abramson
(Appointed 12 April 2024)
Company number
SC289747
Registered office
C/O Brodies LLP
110 Queen Street
Glasgow
United Kingdom
G1 3BX
Auditor
Azets Audit Services
Titanium 1
Kings Inch Place
Renfrew
United Kingdom
PA4 8WF
INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
CONTENTS
Page
Directors' report
1
Directors' responsibilities statement
2
Balance sheet
3
Notes to the financial statements
4 - 10
INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Principal activities

The principal activity of the company continued to be that of fire investigation and consultancy.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A G Earls
(Resigned 12 April 2024)
P V Petrocelli
(Resigned 12 April 2024)
N Montgomery
S Tassel
(Resigned 12 April 2024)
R Arora
P Duggal
(Resigned 12 April 2024)
D Miller
(Appointed 12 April 2024)
R Earle
(Appointed 12 April 2024)
L Abramson
(Appointed 12 April 2024)
Auditor

Azets Audit Services were appointed as auditor to the company during the year and are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
N Montgomery
Director
5 September 2024
INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

 

 

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
4
80,938
127,188
Tangible assets
5
26,886
32,516
107,824
159,704
Current assets
Debtors
6
2,412,440
2,173,003
Cash at bank and in hand
456,024
90,189
2,868,464
2,263,192
Creditors: amounts falling due within one year
7
(993,963)
(760,573)
Net current assets
1,874,501
1,502,619
Total assets less current liabilities
1,982,325
1,662,323
Provisions for liabilities
(5,741)
(7,599)
Net assets
1,976,584
1,654,724
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss reserves
1,975,584
1,653,724
Total equity
1,976,584
1,654,724

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 September 2024 and are signed on its behalf by:
N Montgomery
Director
Company Registration No. SC289747
INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

International Fire Investigators & Consultants is a private company limited by shares incorporated in Scotland. The registered office is C/O Brodies LLP, 110 Queen Street, Glasgow, United Kingdom, G1 3BX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources, including support from its parent company, to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the fair value of the fire investigation and consultancy services rendered during the year, including estimates of amounts not billed at year end, exclusive of value added tax and other sales related taxes. The fair value of consideration takes into account any discounts and rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
10% straight line
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line
Computers
25% straight line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of 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 recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

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

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 7 -
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key judgements and estimates

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements.

Goodwill amortisation

The useful life used to amortise goodwill relates to the future performance of the assets acquired and management’s judgement of the period over which economic benefits will be derived from the assets.

Goodwill relates to the acquisition of an incorporated business sixteen years ago. Following transition to FRS 102 in 2016, the directors reassessed the estimated remaining useful life of the company's goodwill and considered that a ten year amortisation period was appropriate from that date.

Contract Revenue

Recognised amounts of revenues reflect management’s best estimate of each contract’s outcome and stage of completion. Estimates of revenues or stage of completion are revised as circumstances change. Any resulting increases or decreases in estimated are reflected in profit or loss in the period in which the circumstances that give rise to the revision become known by management

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
19
19
INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
4
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
925,000
Amortisation and impairment
At 1 January 2023
797,812
Amortisation charged for the year
46,250
At 31 December 2023
844,062
Carrying amount
At 31 December 2023
80,938
At 31 December 2022
127,188
5
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 January 2023
-
0
32,355
17,162
88,690
138,207
Additions
5,200
-
0
495
405
6,100
At 31 December 2023
5,200
32,355
17,657
89,095
144,307
Depreciation and impairment
At 1 January 2023
-
0
21,342
13,312
71,037
105,691
Depreciation charged in the year
87
3,547
1,060
7,036
11,730
At 31 December 2023
87
24,889
14,372
78,073
117,421
Carrying amount
At 31 December 2023
5,113
7,466
3,285
11,022
26,886
At 31 December 2022
-
0
11,013
3,850
17,653
32,516
INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,503,475
752,301
Gross amounts owed by contract customers
681,044
1,178,582
Corporation tax recoverable
145,752
149,741
Amounts owed by group undertakings
-
0
6,323
Other debtors
48,777
61,260
Prepayments and accrued income
33,392
24,796
2,412,440
2,173,003
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
-
0
1,140
Trade creditors
23,620
23,842
Amounts owed to group undertakings
414,295
458,575
Corporation tax
132,262
72,315
Other taxation and social security
307,660
91,193
Other creditors
6,288
5,638
Accruals and deferred income
109,838
107,870
993,963
760,573
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1,000
1,000
1,000
1,000
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Alan Brown
Statutory Auditor:
Azets Audit Services
INTERNATIONAL FIRE INVESTIGATORS & CONSULTANTS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
10
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
170,189
147,348
11
Related party transactions
Transactions with related parties

The company is a wholly owned subsidiary and as permitted by exemption under the terms of FRS 102 has made no disclosure of transactions with wholly owned subsidiaries within the group.

12
Parent company

The company's ultimate parent entity is Jensen Hughes Holdings Corporation (Registered office 3610 Commerce Drive, Suite 817, Baltimore, MD 21227, USA). The results of the company are included in the consolidated financial statements of Jensen Hughes Holdings Corporation which can be obtained from the address above.

 

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