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REGISTERED NUMBER: 02663857 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

STRUCTURAL FIREPROOFING SYSTEMS LTD.

STRUCTURAL FIREPROOFING SYSTEMS LTD. (REGISTERED NUMBER: 02663857)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


STRUCTURAL FIREPROOFING SYSTEMS LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J B O'Hagan
D Wilson





SECRETARY: J B O'Hagan





REGISTERED OFFICE: Hagan House
6 Mill Way
Old Mill Lane Industrial Estate
Mansfield Woodhouse
Nottinghamshire
NG19 9BG





REGISTERED NUMBER: 02663857 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

STRUCTURAL FIREPROOFING SYSTEMS LTD. (REGISTERED NUMBER: 02663857)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 29,689 49,270
29,689 49,270

CURRENT ASSETS
Stocks 24,939 21,957
Debtors 6 1,237,706 646,768
Cash at bank and in hand 622,824 1,024,200
1,885,469 1,692,925
CREDITORS
Amounts falling due within one year 7 346,140 326,977
NET CURRENT ASSETS 1,539,329 1,365,948
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,569,018

1,415,218

PROVISIONS FOR LIABILITIES 6,869 11,643
NET ASSETS 1,562,149 1,403,575

CAPITAL AND RESERVES
Called up share capital 750 750
Capital redemption reserve 300 300
Retained earnings 1,561,099 1,402,525
SHAREHOLDERS' FUNDS 1,562,149 1,403,575

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

STRUCTURAL FIREPROOFING SYSTEMS LTD. (REGISTERED NUMBER: 02663857)

BALANCE SHEET - continued
31 DECEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





D Wilson - Director


STRUCTURAL FIREPROOFING SYSTEMS LTD. (REGISTERED NUMBER: 02663857)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Structural Fireproofing Systems Ltd. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks and work in progress is stated at the lower of cost or net realisable value.

Contractual activities
Amounts recoverable on contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Profit on individual contracts is taken only when their outcome can be foreseen with reasonable certainty and is based on the value of work performed less expenditure incurred to the year end, taking account of agreed claims. Full provision is made for all known or expected losses on individual contracts, taking a prudent view of future claims income, immediately such losses are foreseen.

Taxation
Taxation for the year comprises current and deferred tax. 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.

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.


STRUCTURAL FIREPROOFING SYSTEMS LTD. (REGISTERED NUMBER: 02663857)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2023
and 31 December 2023 5,500
AMORTISATION
At 1 January 2023
and 31 December 2023 5,500
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

STRUCTURAL FIREPROOFING SYSTEMS LTD. (REGISTERED NUMBER: 02663857)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 126,661 5,625 10,250 20,609 163,145
Additions - - - 1,123 1,123
Disposals (91,030 ) - - (7,261 ) (98,291 )
At 31 December 2023 35,631 5,625 10,250 14,471 65,977
DEPRECIATION
At 1 January 2023 94,604 3,032 2,659 13,580 113,875
Charge for year 4,809 389 1,898 1,846 8,942
Eliminated on disposal (79,706 ) - - (6,823 ) (86,529 )
At 31 December 2023 19,707 3,421 4,557 8,603 36,288
NET BOOK VALUE
At 31 December 2023 15,924 2,204 5,693 5,868 29,689
At 31 December 2022 32,057 2,593 7,591 7,029 49,270

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 268,267 285,098
Amounts recoverable on contracts 142,985 215,659
Other debtors 45,629 49,369
Directors' current accounts 691,773 -
VAT 51,612 38,954
1,200,266 589,080

Amounts falling due after more than one year:
Trade debtors 37,440 57,688

Aggregate amounts 1,237,706 646,768

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Payments on account 20,851 15,470
Trade creditors 145,014 165,485
Corporation tax 91,383 53,859
Social security and other taxes 70,659 73,313
Other creditors 16,806 8,900
Directors' current accounts 1,427 9,950
346,140 326,977

STRUCTURAL FIREPROOFING SYSTEMS LTD. (REGISTERED NUMBER: 02663857)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 20,514 14,704
Between one and five years 32,305 23,621
52,819 38,325

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
J B O'Hagan
Balance outstanding at start of year - -
Amounts advanced 697,519 -
Amounts repaid (5,746 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 691,773 -