IRIS Accounts Production v24.3.2.46 SC239962 director 1.5.23 30.4.24 30.4.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2399622023-04-30SC2399622024-04-30SC2399622023-05-012024-04-30SC2399622022-04-30SC2399622022-05-012023-04-30SC2399622023-04-30SC239962ns15:Scotland2023-05-012024-04-30SC239962ns14:PoundSterling2023-05-012024-04-30SC239962ns10:Director12023-05-012024-04-30SC239962ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30SC239962ns10:SmallEntities2023-05-012024-04-30SC239962ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-30SC239962ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30SC239962ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30SC239962ns10:FullAccounts2023-05-012024-04-30SC239962ns10:CompanySecretary12023-05-012024-04-30SC239962ns10:RegisteredOffice2023-05-012024-04-30SC239962ns5:CurrentFinancialInstruments2024-04-30SC239962ns5:CurrentFinancialInstruments2023-04-30SC239962ns5:Non-currentFinancialInstruments2024-04-30SC239962ns5:Non-currentFinancialInstruments2023-04-30SC239962ns5:ShareCapital2024-04-30SC239962ns5:ShareCapital2023-04-30SC239962ns5:RetainedEarningsAccumulatedLosses2024-04-30SC239962ns5:RetainedEarningsAccumulatedLosses2023-04-30SC239962ns5:LeaseholdImprovements2023-05-012024-04-30SC239962ns5:PlantMachinery2023-05-012024-04-30SC239962ns5:MotorVehicles2023-05-012024-04-30SC239962ns5:LeaseholdImprovements2023-04-30SC239962ns5:PlantMachinery2023-04-30SC239962ns5:MotorVehicles2023-04-30SC239962ns5:LeaseholdImprovements2024-04-30SC239962ns5:PlantMachinery2024-04-30SC239962ns5:MotorVehicles2024-04-30SC239962ns5:LeaseholdImprovements2023-04-30SC239962ns5:PlantMachinery2023-04-30SC239962ns5:MotorVehicles2023-04-30SC239962ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-30SC239962ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30SC239962ns5:Secured2024-04-30SC239962ns5:Secured2023-04-30
REGISTERED NUMBER: SC239962 (Scotland)











































Spg Fire & Security Limited

Unaudited Financial Statements

for the Year Ended 30th April 2024






Spg Fire & Security Limited (Registered number: SC239962)






Contents of the Financial Statements
for the year ended 30th April 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Spg Fire & Security Limited

Company Information
for the year ended 30th April 2024







Director: S P Gillie





Secretary: Mrs A Gillie





Registered office: Nordale
Netherdale Industrial Estate
Galashiels
Scottish Borders
TD1 3EY





Registered number: SC239962 (Scotland)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Spg Fire & Security Limited (Registered number: SC239962)

Balance Sheet
30th April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 413,501 351,568

Current assets
Stocks 15,000 37,615
Debtors 5 806,261 936,725
Cash at bank 592,115 176,510
1,413,376 1,150,850
Creditors
Amounts falling due within one year 6 964,847 780,736
Net current assets 448,529 370,114
Total assets less current liabilities 862,030 721,682

Creditors
Amounts falling due after more than one
year

7

375,094

387,730
Net assets 486,936 333,952

Capital and reserves
Called up share capital 200 200
Retained earnings 486,736 333,752
486,936 333,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

Spg Fire & Security Limited (Registered number: SC239962)

Balance Sheet - continued
30th April 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th January 2025 and were signed by:





S P Gillie - Director


Spg Fire & Security Limited (Registered number: SC239962)

Notes to the Financial Statements
for the year ended 30th April 2024

1. Statutory information

Spg Fire & Security Limited 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.

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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans, other loans, hire purchase and directors' loans.

Bank loans and hire purchases are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, other loans and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


Spg Fire & Security Limited (Registered number: SC239962)

Notes to the Financial Statements - continued
for the year ended 30th April 2024

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the 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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in the current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was 31 (2023 - 25 ) .

Spg Fire & Security Limited (Registered number: SC239962)

Notes to the Financial Statements - continued
for the year ended 30th April 2024

4. Tangible fixed assets
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
Cost
At 1st May 2023 67,512 85,914 427,035 580,461
Additions - 3,396 161,483 164,879
At 30th April 2024 67,512 89,310 588,518 745,340
Depreciation
At 1st May 2023 59,905 67,384 101,604 228,893
Charge for year 1,137 5,211 96,598 102,946
At 30th April 2024 61,042 72,595 198,202 331,839
Net book value
At 30th April 2024 6,470 16,715 390,316 413,501
At 30th April 2023 7,607 18,530 325,431 351,568

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 806,261 936,725

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 107,836 87,963
Trade creditors 493,712 540,806
Amounts owed to group undertakings 55,997 -
Taxation and social security 193,843 98,175
Other creditors 63,459 3,792
964,847 780,736

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 102,000 152,000
Hire purchase contracts 273,094 235,730
375,094 387,730

Spg Fire & Security Limited (Registered number: SC239962)

Notes to the Financial Statements - continued
for the year ended 30th April 2024

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 152,000 -
Hire purchase contracts 380,930 -
532,930 -

The Royal Bank of Scotland holds standard security over all property and assets held by the company, including uncalled capital..

Hire purchase contracts are secured against the assets to which they relate.