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REGISTERED NUMBER: 07599268 (England and Wales)





















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

International Passive Fire Limited

International Passive Fire Limited (Registered number: 07599268)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


International Passive Fire Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: S Bryant





REGISTERED OFFICE: Unit 4 Stowford Business Park
Blair Road
Ivybridge
Devon
PL21 0BE





REGISTERED NUMBER: 07599268 (England and Wales)





ACCOUNTANTS: Sheppards Accountants Limited
22 The Square
The Millfields
Plymouth
Devon
PL1 3JX

International Passive Fire Limited (Registered number: 07599268)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 203,192 208,145
203,192 208,145

CURRENT ASSETS
Stocks 41,240 37,503
Debtors 6 87,381 59,312
Cash at bank and in hand 288,216 269,658
416,837 366,473
CREDITORS
Amounts falling due within one year 7 248,550 227,560
NET CURRENT ASSETS 168,287 138,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

371,479

347,058

PROVISIONS FOR LIABILITIES 8,352 9,526
NET ASSETS 363,127 337,532

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 363,027 337,432
SHAREHOLDERS' FUNDS 363,127 337,532

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

International Passive Fire Limited (Registered number: 07599268)

Balance Sheet - continued
31 May 2024


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 director and authorised for issue on 8 September 2024 and were signed by:





S Bryant - Director


International Passive Fire Limited (Registered number: 07599268)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

International Passive Fire Limited 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.

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 represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Plant and machinery - 20% Straight Line
Fixtures and fittings - 25% Straight Line
Motor vehicles - 20% Straight Line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

International Passive Fire Limited (Registered number: 07599268)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

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 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 30,000
AMORTISATION
At 1 June 2023
and 31 May 2024 30,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 June 2023 157,000 16,808 26,753
Additions - - -
At 31 May 2024 157,000 16,808 26,753
DEPRECIATION
At 1 June 2023 1,340 12,606 14,071
Charge for year 1,340 4,202 3,171
At 31 May 2024 2,680 16,808 17,242
NET BOOK VALUE
At 31 May 2024 154,320 - 9,511
At 31 May 2023 155,660 4,202 12,682

International Passive Fire Limited (Registered number: 07599268)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023 52,609 8,200 261,370
Additions 16,881 - 16,881
At 31 May 2024 69,490 8,200 278,251
DEPRECIATION
At 1 June 2023 17,008 8,200 53,225
Charge for year 13,121 - 21,834
At 31 May 2024 30,129 8,200 75,059
NET BOOK VALUE
At 31 May 2024 39,361 - 203,192
At 31 May 2023 35,601 - 208,145

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 87,381 58,915
VAT - 397
87,381 59,312

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,667 31,667
Trade creditors 129,571 128,903
Corporation tax 42,801 23,494
Social security and other taxes 8,788 7,718
VAT 9,321 -
Other creditors 1,192 1,192
Directors' current accounts 33,460 32,886
Accrued expenses 1,750 1,700
248,550 227,560

8. ULTIMATE CONTROLLING PARTY

The controlling party is S Bryant.