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REGISTERED NUMBER: SC440316 (Scotland)




















ADAPTIVE FIRE PROTECTION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






ADAPTIVE FIRE PROTECTION LTD (REGISTERED NUMBER: SC440316)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

ADAPTIVE FIRE PROTECTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: B J Cloughley
S Elliot
G Pillans





REGISTERED OFFICE: 136 Boden Street
Glasgow
G40 3PX





REGISTERED NUMBER: SC440316 (Scotland)





ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD

ADAPTIVE FIRE PROTECTION LTD (REGISTERED NUMBER: SC440316)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 111,072 55,294

CURRENT ASSETS
Debtors 5 325,771 217,027
Cash at bank 561,335 601,307
887,106 818,334
CREDITORS
Amounts falling due within one year 6 222,505 158,337
NET CURRENT ASSETS 664,601 659,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

775,673

715,291

PROVISIONS FOR LIABILITIES 7 26,691 10,506
NET ASSETS 748,982 704,785

CAPITAL AND RESERVES
Called up share capital 8 9,000 9,000
Retained earnings 9 739,982 695,785
SHAREHOLDERS' FUNDS 748,982 704,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 10 October 2024 and were signed on its behalf by:





B J Cloughley - Director


ADAPTIVE FIRE PROTECTION LTD (REGISTERED NUMBER: SC440316)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Adaptive Fire Protection Ltd is a private company, limited by shares , registered in Scotland. 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 each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 33% on cost
Computer equipment - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year 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.

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 11 (2023 - 12 ) .

ADAPTIVE FIRE PROTECTION LTD (REGISTERED NUMBER: SC440316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 2,467 537 107,872 1,887 112,763
Additions - - 94,319 - 94,319
Disposals - - (19,432 ) - (19,432 )
At 31 January 2024 2,467 537 182,759 1,887 187,650
DEPRECIATION
At 1 February 2023 1,228 385 54,817 1,039 57,469
Charge for year 310 38 37,759 434 38,541
Eliminated on disposal - - (19,432 ) - (19,432 )
At 31 January 2024 1,538 423 73,144 1,473 76,578
NET BOOK VALUE
At 31 January 2024 929 114 109,615 414 111,072
At 31 January 2023 1,239 152 53,055 848 55,294

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 310,399 203,840
Other debtors 6,952 7,487
Prepayments 8,420 5,700
325,771 217,027

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 31,211 24,821
Corporation tax 102,579 75,916
Social security and other taxes 45,792 11,575
VAT 40,499 42,439
Other creditors 424 1,712
Accrued charges 2,000 1,874
222,505 158,337

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 26,691 10,506

Deferred
tax
£   
Balance at 1 February 2023 10,506
Charge to Income Statement during year 16,185
Balance at 31 January 2024 26,691

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

ADAPTIVE FIRE PROTECTION LTD (REGISTERED NUMBER: SC440316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
9,000 Ordinary £1 9,000 9,000

9. RESERVES
Retained
earnings
£   

At 1 February 2023 695,785
Profit for the year 365,197
Dividends (321,000 )
At 31 January 2024 739,982

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ADAPTIVE FIRE PROTECTION LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Adaptive Fire Protection Ltd for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Adaptive Fire Protection Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Adaptive Fire Protection Ltd and state those matters that we have agreed to state to the Board of Directors of Adaptive Fire Protection Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Adaptive Fire Protection Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Adaptive Fire Protection Ltd. You consider that Adaptive Fire Protection Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Adaptive Fire Protection Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


10 October 2024