Company registration number 03745288 (England and Wales)
CRIME & FIRE DEFENCE SYSTEMS LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
CRIME & FIRE DEFENCE SYSTEMS LTD
COMPANY INFORMATION
Directors
C K Laughton
C M Watts
P I Rushforth
Secretary
A Laughton
Company number
03745288
Registered office
Unit 1 Crigglestone Industrial Estate
Crigglestone
Wakefield
West Yorkshire
WF4 3HT
Auditor
Beldenn Ltd
Townend House
8 Springwell Court
Leeds
West Yorkshire
England
LS12 1AL
CRIME & FIRE DEFENCE SYSTEMS LTD
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Statement of financial position
8
Statement of cash flows
9
Notes to the financial statements
10 - 17
CRIME & FIRE DEFENCE SYSTEMS LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 1 -
The directors present the strategic report for the year ended 30 April 2024.
Our Mission Statement
To protect critical national infrastructure through innovation and engineering excellence.
The Vision
The business is set for growth over the next five years and beyond. This will be made possible with our valued people and culture, along with a good understanding of our customers’ needs working in a collaborative approach. We are an ethical company and do the right thing by our staff, suppliers, contractors and customers alike. CFDS are a niche systems integrator specialising in perimeter security in the critical national infrastructure sector. Our unique turnkey offering from design through to construction and maintenance, enables us to problem solve, innovate and reduce costs for our valued clients. We also aim to reduce our impact on the environment too, with innovate ways to reduce our use of fossil fuels, raw materials and minimise carbon dioxide emissions.
Key performance indicators
The directors consider the main financial performance indicators are those that communicate the financial performance and strength as a whole, these being turnover, gross profit margin and profit before tax.
Turnover achieved in the period was £12,059,681 (2023: £13,624,794) and gross profit was £3,784,529 (31.4%)(2023: £4,495,934 (33.0%)). Profit before tax was £536,117 (2023: £2,049,475).
The board consider the profits disappointing compared to other years, however some of the factors were outside of our control. We entered into a new venture with a major customer to deliver four major projects, however we encountered numerous setbacks early in the schemes which severely affected our bottom line. These included late and inaccurate designs from a third-party designer which severely delayed site mobilisation, but we still carried our experienced labour force, a lack of permits to work supplied by a third-party delayed works onsite, very wet weather and flooding once we mobilised caused major delays, a shortage of skilled labour and materials in the South West of England caused by the construction of the new Hinkley Point Power Station (largest single construction site in Europe) made it especially difficult to recruit and retain good staff, and we had some poor site management with some costs exceeding budget predictions.
We have learnt many lessons during this period and therefore have restructured the business to enable us to become a more diverse, robust and efficient organisation. The main changes are that we have promoted staff from within to manage operational processes, which is resulting in more productivity, accountability and profitability. We are expanding our client base to minimise the peaks and troughs between projects and have been successful in winning two more utility frameworks. This is still an ongoing process and is going to plan.
P I Rushforth
Director
21 January 2025
CRIME & FIRE DEFENCE SYSTEMS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
The directors present their annual report and financial statements for the year ended 30 April 2024.
Principal activities
The principal activity of the company continued to be that of the design, construction, installation and maintaining of perimeter fencing, electrified fencing, intruder detection, CCTV, access control and control room monitoring systems.
Results and dividends
The results for the year are set out on page 7.
Ordinary dividends were paid amounting to £460,000. The directors do not recommend payment of a final dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
C K Laughton
C M Watts
P I Rushforth
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
CRIME & FIRE DEFENCE SYSTEMS LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
On behalf of the board
P I Rushforth
Director
21 January 2025
CRIME & FIRE DEFENCE SYSTEMS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CRIME & FIRE DEFENCE SYSTEMS LTD
- 4 -
Opinion
We have audited the financial statements of Crime & Fire Defence Systems Ltd (the 'company') for the year ended 30 April 2024 which comprise the statement of income and retained earnings, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 April 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
CRIME & FIRE DEFENCE SYSTEMS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CRIME & FIRE DEFENCE SYSTEMS LTD (CONTINUED)
- 5 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
Based on our understanding of the company and the sector in which it operates, our audit work considered the risk of material misstatement on the financial statements as a result of non-compliance with laws and regulations, this includes fraud. These laws and regulations include, but are not limited to, those that relate to the form and content of the financial statements, such as the Company accounting policies, the financial reporting framework and the UK Companies Act 2006.
We evaluated management incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks related to management bias in accounting estimates and understatement or overstatement of revenue. Our audit procedures included: but were not limited to:
Agreement of the financial statements disclosures to underlying supporting documentation;
Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
Challenging assumptions, accounting estimates and judgements made by Directors;
Identifying and testing journal entries to ensure they are appropriate;
Sample testing of income and expenditure to ensure correct cut-off has been applied.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error.
There are inherent limitations in audit procedures, the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
CRIME & FIRE DEFENCE SYSTEMS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CRIME & FIRE DEFENCE SYSTEMS LTD (CONTINUED)
- 6 -
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
James Bell
Senior Statutory Auditor
For and on behalf of Beldenn Ltd
Chartered Accountants
Townend House
8 Springwell Court
Leeds
West Yorkshire
LS12 1AL
21 January 2025
CRIME & FIRE DEFENCE SYSTEMS LTD
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
2024
2023
Notes
£
£
Turnover
2
12,059,681
13,624,794
Cost of sales
(8,275,152)
(9,128,860)
Gross profit
3,784,529
4,495,934
Administrative expenses
(3,265,077)
(2,446,744)
Other operating income
15,507
2,520
Operating profit
3
534,959
2,051,710
Interest receivable and similar income
6
1,158
1,304
Interest payable and similar expenses
7
(3,539)
Profit before taxation
536,117
2,049,475
Tax on profit
8
(130,261)
(404,600)
Profit for the financial year
405,856
1,644,875
Retained earnings brought forward
3,371,865
3,236,991
Dividends
9
(460,000)
(1,510,001)
Retained earnings carried forward
3,317,721
3,371,865
The income statement has been prepared on the basis that all operations are continuing operations.
CRIME & FIRE DEFENCE SYSTEMS LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2024
30 April 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
10
1
1
Tangible assets
11
389,881
486,966
389,882
486,967
Current assets
Stocks
12
325,344
294,613
Debtors
13
1,689,551
3,610,972
Cash at bank and in hand
3,852,554
1,667,764
5,867,449
5,573,349
Creditors: amounts falling due within one year
14
(2,842,886)
(2,562,412)
Net current assets
3,024,563
3,010,937
Total assets less current liabilities
3,414,445
3,497,904
Provisions for liabilities
Deferred tax liability
15
96,722
126,037
(96,722)
(126,037)
Net assets
3,317,723
3,371,867
Capital and reserves
Called up share capital
17
2
2
Profit and loss reserves
3,317,721
3,371,865
Total equity
3,317,723
3,371,867
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The financial statements were approved by the board of directors and authorised for issue on 21 January 2025 and are signed on its behalf by:
P I Rushforth
Director
Company registration number 03745288 (England and Wales)
CRIME & FIRE DEFENCE SYSTEMS LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024
- 9 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
19
3,083,697
1,147,445
Interest paid
(3,539)
Income taxes paid
(414,819)
(7,087)
Net cash inflow from operating activities
2,668,878
1,136,819
Investing activities
Purchase of tangible fixed assets
(37,613)
(200,652)
Proceeds from disposal of tangible fixed assets
12,367
27,601
Interest received
1,158
1,304
Net cash used in investing activities
(24,088)
(171,747)
Financing activities
Dividends paid
(460,000)
(1,510,001)
Net cash used in financing activities
(460,000)
(1,510,001)
Net increase/(decrease) in cash and cash equivalents
2,184,790
(544,929)
Cash and cash equivalents at beginning of year
1,667,764
2,212,693
Cash and cash equivalents at end of year
3,852,554
1,667,764
CRIME & FIRE DEFENCE SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 10 -
1
Accounting policies
Company information
Crime & Fire Defence Systems Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Crigglestone Industrial Estate, Crigglestone, Wakefield, West Yorkshire, WF4 3HT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Turnover is recognised upon the provision of goods and services.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Development costs
No amortisation
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
CRIME & FIRE DEFENCE SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 11 -
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% reducing balance
Fixtures and fittings
20% reducing balance
Computers
30% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.7
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
CRIME & FIRE DEFENCE SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 12 -
2
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Sale of goods
12,059,681
13,624,794
2024
2023
£
£
Other revenue
Interest income
1,158
1,304
Grants received
1,000
500
3
Operating profit
2024
2023
Operating profit for the year is stated after charging/(crediting):
£
£
Government grants
(1,000)
(500)
Audit fees
10,000
Depreciation of owned tangible fixed assets
122,204
113,813
Loss/(profit) on disposal of tangible fixed assets
127
(3,352)
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
53
47
Their aggregate remuneration comprised:
2024
2023
£
£
Wages and salaries
2,591,344
2,186,027
Social security costs
294,599
264,299
Pension costs
281,447
96,607
3,167,390
2,546,933
CRIME & FIRE DEFENCE SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 13 -
5
Directors' remuneration
2024
2023
£
£
Remuneration for qualifying services
138,318
139,847
Company pension contributions to defined contribution schemes
186,067
2,000
324,385
141,847
6
Interest receivable and similar income
2024
2023
£
£
Interest income
Other interest income
1,158
1,304
7
Interest payable and similar expenses
2024
2023
£
£
Other finance costs:
Other interest
3,539
8
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
159,576
384,819
Adjustments in respect of prior periods
4,049
Total current tax
159,576
388,868
Deferred tax
Origination and reversal of timing differences
(29,315)
15,732
Total tax charge
130,261
404,600
CRIME & FIRE DEFENCE SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
8
Taxation
(Continued)
- 14 -
The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
536,117
2,049,475
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.50%)
134,029
399,648
Tax effect of expenses that are not deductible in determining taxable profit
1,842
973
Adjustments in respect of prior years
583
Permanent capital allowances in excess of depreciation
(5,610)
3,396
Taxation charge for the year
130,261
404,600
9
Dividends
2024
2023
£
£
Interim paid
460,000
1,510,001
10
Intangible fixed assets
Goodwill
Development costs
Total
£
£
£
Cost
At 1 May 2023 and 30 April 2024
1
88,158
88,159
Amortisation and impairment
At 1 May 2023 and 30 April 2024
88,158
88,158
Carrying amount
At 30 April 2024
1
1
At 30 April 2023
1
1
CRIME & FIRE DEFENCE SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 15 -
11
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
107,547
34,095
137,057
585,688
864,387
Additions
15,454
3,809
8,267
10,083
37,613
Disposals
(24,995)
(24,995)
At 30 April 2024
123,001
37,904
145,324
570,776
877,005
Depreciation and impairment
At 1 May 2023
43,094
17,359
75,637
241,331
377,421
Depreciation charged in the year
14,531
3,866
20,421
83,386
122,204
Eliminated in respect of disposals
(12,501)
(12,501)
At 30 April 2024
57,625
21,225
96,058
312,216
487,124
Carrying amount
At 30 April 2024
65,376
16,679
49,266
258,560
389,881
At 30 April 2023
64,453
16,736
61,420
344,357
486,966
12
Stocks
2024
2023
£
£
Finished goods and goods for resale
325,344
294,613
13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
649,741
2,439,356
Other debtors
3,645
Prepayments and accrued income
1,039,810
1,167,971
1,689,551
3,610,972
CRIME & FIRE DEFENCE SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 16 -
14
Creditors: amounts falling due within one year
2024
2023
£
£
Payments received on account
1,188,167
143,107
Trade creditors
852,140
1,582,743
Corporation tax
129,576
384,819
Other taxation and social security
597,840
386,867
Other creditors
14,640
13,290
Accruals and deferred income
60,523
51,586
2,842,886
2,562,412
15
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
96,722
126,037
2024
Movements in the year:
£
Liability at 1 May 2023
126,037
Credit to profit or loss
(29,315)
Liability at 30 April 2024
96,722
16
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
281,447
96,607
17
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary Shares of 2p each
52
52
1
1
B Ordinary Shares of 2p each
48
48
1
1
100
100
2
2
CRIME & FIRE DEFENCE SYSTEMS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 17 -
18
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2024
2023
£
£
Within one year
150,673
121,166
Between two and five years
162,627
107,861
313,300
229,027
19
Cash generated from operations
2024
2023
£
£
Profit after taxation
405,856
1,644,875
Adjustments for:
Taxation charged
130,261
404,600
Finance costs
3,539
Investment income
(1,158)
(1,304)
Loss/(gain) on disposal of tangible fixed assets
127
(3,352)
Depreciation and impairment of tangible fixed assets
122,204
113,813
Movements in working capital:
Increase in stocks
(30,731)
(56,723)
Decrease/(increase) in debtors
1,921,421
(2,060,667)
Increase in creditors
535,717
1,102,664
Cash generated from operations
3,083,697
1,147,445
20
Analysis of changes in net funds
1 May 2023
Cash flows
30 April 2024
£
£
£
Cash at bank and in hand
1,667,764
2,184,790
3,852,554
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