Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Mr C J Dilks 27/10/2006 Mrs P M Dilks 23/05/2012 11 February 2025 The principal activity of the Company during the financial year was that of sale of fire retardant products. 05811333 2024-05-31 05811333 bus:Director1 2024-05-31 05811333 bus:Director2 2024-05-31 05811333 2023-05-31 05811333 core:CurrentFinancialInstruments 2024-05-31 05811333 core:CurrentFinancialInstruments 2023-05-31 05811333 core:Non-currentFinancialInstruments 2024-05-31 05811333 core:Non-currentFinancialInstruments 2023-05-31 05811333 core:ShareCapital 2024-05-31 05811333 core:ShareCapital 2023-05-31 05811333 core:RetainedEarningsAccumulatedLosses 2024-05-31 05811333 core:RetainedEarningsAccumulatedLosses 2023-05-31 05811333 core:PlantMachinery 2023-05-31 05811333 core:Vehicles 2023-05-31 05811333 core:OfficeEquipment 2023-05-31 05811333 core:PlantMachinery 2024-05-31 05811333 core:Vehicles 2024-05-31 05811333 core:OfficeEquipment 2024-05-31 05811333 2023-06-01 2024-05-31 05811333 bus:FilletedAccounts 2023-06-01 2024-05-31 05811333 bus:SmallEntities 2023-06-01 2024-05-31 05811333 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 05811333 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05811333 bus:Director1 2023-06-01 2024-05-31 05811333 bus:Director2 2023-06-01 2024-05-31 05811333 core:PlantMachinery 2023-06-01 2024-05-31 05811333 core:Vehicles 2023-06-01 2024-05-31 05811333 core:OfficeEquipment 2023-06-01 2024-05-31 05811333 2022-06-01 2023-05-31 05811333 core:CurrentFinancialInstruments 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: 05811333 (England and Wales)

FIRE RETARDANT UK LTD

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

FIRE RETARDANT UK LTD

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

FIRE RETARDANT UK LTD

BALANCE SHEET

As at 31 May 2024
FIRE RETARDANT UK LTD

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 90,090 62,495
90,090 62,495
Current assets
Stocks 4 49,303 65,000
Debtors 5 70,656 79,896
Cash at bank and in hand 206,795 179,380
326,754 324,276
Creditors: amounts falling due within one year 6 ( 60,533) ( 111,689)
Net current assets 266,221 212,587
Total assets less current liabilities 356,311 275,082
Creditors: amounts falling due after more than one year 7 ( 25,385) 0
Provision for liabilities 8 ( 942) 0
Net assets 329,984 275,082
Capital and reserves
Called-up share capital 2 2
Profit and loss account 329,982 275,080
Total shareholders' funds 329,984 275,082

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Fire Retardant UK Ltd (registered number: 05811333) were approved and authorised for issue by the Board of Directors on 11 February 2025. They were signed on its behalf by:

Mr C J Dilks
Director
FIRE RETARDANT UK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
FIRE RETARDANT UK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Fire Retardant UK Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 June 2023 37,944 54,982 0 92,926
Additions 0 96,070 2,650 98,720
Disposals 0 ( 54,982) 0 ( 54,982)
At 31 May 2024 37,944 96,070 2,650 136,664
Accumulated depreciation
At 01 June 2023 28,598 1,833 0 30,431
Charge for the financial year 1,869 17,783 95 19,747
Disposals 0 ( 3,604) 0 ( 3,604)
At 31 May 2024 30,467 16,012 95 46,574
Net book value
At 31 May 2024 7,477 80,058 2,555 90,090
At 31 May 2023 9,346 53,149 0 62,495

4. Stocks

2024 2023
£ £
Stocks 49,303 65,000

5. Debtors

2024 2023
£ £
Trade debtors 47,980 58,333
Other debtors 22,676 21,563
70,656 79,896

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 13,940 38,526
Taxation and social security 19,138 3,194
Obligations under finance leases and hire purchase contracts (secured) 20,271 33,100
Other creditors 7,184 36,869
60,533 111,689

Hire purchase contracts is secured by a charge over the asset.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 25,385 0

8. Provision for liabilities

2024 2023
£ £
Deferred tax 942 0

9. Related party transactions

During the year the director maintained an interest free loan which is repayable on demand. At the balance sheet date the amount due to the director was £5,556 (2023- £36,868).