RESIDENTIAL SPRINKLER PROTECTION LIMITED

Company Registration Number:
08536539 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 30 July 2023

End date: 31 July 2024

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Additional information

The company went through a very difficult trading period for the previous year ended 31st July 2023, with the main contributory factors being: The company experienced rapid growth over a short period of time which overwhelmed the management team resulting in decisions being made without sufficient attention to a business case for some key decisions, particularly in recruitment for resources to meet demand. A temporary slow down In new build housing due to the dramatic increase in mortgage interest rates towards the beginning of the financial year. Despite the above the company continued to enjoy the confidence, respect, and support of its many customers and external consultants were engaged to review and assist in improving the company’s financial controls, general management, and work processes. The net result has been turning a substantial loss for the year ended 31st July 2023, to a small profit for the year to 31st July 2024 and the opening months of 2024 indicate a dramatic increase in profitability due to a substantial improvement in productivity, financial controls, and cost cutting.



Directors

The directors shown below have held office during the whole of the period from
30 July 2023 to 31 July 2024

John Newman
Daniel Newman
Joanne Danielson


Secretary Sian Dunlop

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
7 October 2024

And signed on behalf of the board by:
Name: John Newman
Status: Director

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Profit And Loss Account

for the Period Ended 31 July 2024

2024 2023


£

£
Turnover: 2,727,990 4,290,003
Cost of sales: ( 1,456,334 ) ( 2,681,082 )
Gross profit(or loss): 1,271,656 1,608,921
Administrative expenses: ( 1,260,465 ) ( 1,946,868 )
Other operating income: 29,967 8,158
Operating profit(or loss): 41,158 (329,789)
Interest receivable and similar income: 104 128
Interest payable and similar charges: ( 25,454 ) ( 11,385 )
Profit(or loss) before tax: 15,808 (341,046)
Profit(or loss) for the financial year: 15,808 (341,046)

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Balance sheet

As at 31 July 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 30,370 34,227
Total fixed assets: 30,370 34,227
Current assets
Stocks: 4 151,500 199,500
Debtors: 5 514,039 552,614
Cash at bank and in hand: 7,162 29,468
Total current assets: 672,701 781,582
Creditors: amounts falling due within one year: 6 ( 461,246 ) ( 696,920 )
Net current assets (liabilities): 211,455 84,662
Total assets less current liabilities: 241,825 118,889
Creditors: amounts falling due after more than one year: 7 ( 128,364 ) ( 21,236 )
Total net assets (liabilities): 113,461 97,653
Capital and reserves
Called up share capital: 4 4
Profit and loss account: 113,457 97,649
Total Shareholders' funds: 113,461 97,653

The notes form part of these financial statements

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

This report was approved by the board of directors on 7 October 2024
and signed on behalf of the board by:

Name: John Newman
Status: Director

The notes form part of these financial statements

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Plant & machinery 20%-50% Straight LIne Motor vehicles 20% - 33.33% Straight Line Fixtures & fittings 20% Straight Line

    Other accounting policies

    Operating Leases Inventories Leased Assets Deferred tax Pension Costs

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 41 55

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 30 July 2023 27,397 15,941 174,074 217,412
Additions 4,345 4,345
Disposals ( 450 ) ( 140,324 ) ( 140,774 )
Revaluations
Transfers
At 31 July 2024 31,742 15,491 33,750 80,983
Depreciation
At 30 July 2023 15,657 1,727 165,801 183,185
Charge for year 1,418 405 5,929 7,752
On disposals ( 140,324 ) ( 140,324 )
Other adjustments
At 31 July 2024 17,075 2,132 31,406 50,613
Net book value
At 31 July 2024 14,667 13,359 2,344 30,370
At 29 July 2023 11,740 14,214 8,273 34,227

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Stocks

2024 2023
£ £
Stocks 151,500 199,500
Total 151,500 199,500

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Debtors

2024 2023
£ £
Trade debtors 223,545 411,117
Prepayments and accrued income 32,000 5,071
Other debtors 258,494 136,426
Total 514,039 552,614

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 100,972 26,180
Amounts due under finance leases and hire purchase contracts 2,332 1,265
Trade creditors 224,298 512,791
Taxation and social security 22,728 33,492
Accruals and deferred income 2,350 59,673
Other creditors 108,566 63,519
Total 461,246 696,920

RESIDENTIAL SPRINKLER PROTECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

7. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Bank loans and overdrafts 22,879 14,009
Amounts due under finance leases and hire purchase contracts 7,227
Other creditors 105,485
Total 128,364 21,236