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Registration number: 06110222

Tas Valley Fire Protection Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Tas Valley Fire Protection Services Limited

Contents


 

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 10

 

Tas Valley Fire Protection Services Limited

Registration number: 06110222

Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

3,300

4,950

Tangible assets

4

5,726

7,841

 

9,026

12,791

Current assets

 

Stocks

5

1,600

850

Debtors

6

13,790

13,537

Cash at bank and in hand

 

1,978

3,619

 

17,368

18,006

Creditors: Amounts falling due within one year

7

(14,731)

(11,985)

Net current assets

 

2,637

6,021

Total assets less current liabilities

 

11,663

18,812

Creditors: Amounts falling due after more than one year

7

(142)

(1,840)

Provisions for liabilities

(1,087)

(1,489)

Net assets

 

10,434

15,483

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

10,334

15,383

Shareholders' funds

 

10,434

15,483



The director's statements required by sections 475 (2) and (3) are shown on the following page which forms part of this Balance Sheet.

 

Tas Valley Fire Protection Services Limited

Registration number: 06110222

Balance Sheet as at 29 February 2024 (continued)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 October 2024
 

S B Horsfield
Company secretary and director

   
     

 

Tas Valley Fire Protection Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wymondham Business Centre
1 Town Green
Wymondham
Norfolk
NR18 0PN
England

The principal place of business is:
7 Stigands Gate
Dereham
Norfolk
NR19 2HF
England

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

 

Tas Valley Fire Protection Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024 (continued)

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to expenditure are credited to the profit and loss account in the period in which the related expenditure is charged.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Tas Valley Fire Protection Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024 (continued)

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% reducing balance

Fixtures and fittings

25% reducing balance

Computer equipment

33% straight line

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Tas Valley Fire Protection Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024 (continued)

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Tas Valley Fire Protection Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024 (continued)

3

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

30,000

30,000

At 29 February 2024

30,000

30,000

Amortisation

At 1 March 2023

25,050

25,050

Amortisation charge

1,650

1,650

At 29 February 2024

26,700

26,700

Carrying amount

At 29 February 2024

3,300

3,300

At 28 February 2023

4,950

4,950

 

Tas Valley Fire Protection Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

13,235

8,995

358

22,588

At 29 February 2024

13,235

8,995

358

22,588

Depreciation

At 1 March 2023

12,183

2,249

315

14,747

Charge for the year

417

1,687

11

2,115

At 29 February 2024

12,600

3,936

326

16,862

Carrying amount

At 29 February 2024

635

5,059

32

5,726

At 28 February 2023

1,052

6,746

43

7,841

5

Stocks

2024
£

2023
£

Other inventories

1,600

850

 

Tas Valley Fire Protection Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024 (continued)

6

Debtors

Current

2024
£

2023
£

Trade debtors

13,790

13,537

 

13,790

13,537

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

1,698

1,698

Directors loan account

41

357

Taxation and social security

 

12,992

8,415

Other creditors

 

-

1,515

 

14,731

11,985

Due after one year

 

Loans and borrowings

142

1,840



The hire purchase balances are secured on the assets to which they relate.

 

Tas Valley Fire Protection Services Limited

Notes to the Financial Statements for the Year Ended 29 February 2024 (continued)

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 share of £1 each

100

100

100

100