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REGISTERED NUMBER: 04198561 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

PETERLEE FIRE COMPANY LIMITED

PETERLEE FIRE COMPANY LIMITED (REGISTERED NUMBER: 04198561)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETERLEE FIRE COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: D J Chennell
C Haynes
S Jones





REGISTERED OFFICE: Fire House
Mayflower Close
Chandlers Ford
Eastleigh
Hampshire
SO53 4AR





REGISTERED NUMBER: 04198561 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

PETERLEE FIRE COMPANY LIMITED (REGISTERED NUMBER: 04198561)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 248,660 146,677
Investments 5 150 150
248,810 146,827

CURRENT ASSETS
Stocks 86,552 35,000
Debtors 6 630,680 763,589
Cash at bank and in hand 127,038 62,661
844,270 861,250
CREDITORS
Amounts falling due within one year 7 474,354 442,091
NET CURRENT ASSETS 369,916 419,159
TOTAL ASSETS LESS CURRENT
LIABILITIES

618,726

565,986

CREDITORS
Amounts falling due after more than one
year

8

(114,768

)

(35,241

)

PROVISIONS FOR LIABILITIES (62,160 ) (36,664 )
NET ASSETS 441,798 494,081

CAPITAL AND RESERVES
Called up share capital 11 130 130
Capital redemption reserve 220 220
Retained earnings 441,448 493,731
SHAREHOLDERS' FUNDS 441,798 494,081

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PETERLEE FIRE COMPANY LIMITED (REGISTERED NUMBER: 04198561)

BALANCE SHEET - continued
30 JUNE 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 Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





S Jones - Director


PETERLEE FIRE COMPANY LIMITED (REGISTERED NUMBER: 04198561)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Peterlee Fire Company 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is derived from the company's principal activity. Where this arises from a contractual arrangement, income is attributed to the profit and loss account as contract activity progresses in a manner appropriate to the stage of completion of each individual contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - straight line over 3 years
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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.

PETERLEE FIRE COMPANY LIMITED (REGISTERED NUMBER: 04198561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

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 the 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 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.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instrument.

Financial instruments are recognised in the company's balance sheet when the company becomes party to contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, other loans and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 37 ) .

PETERLEE FIRE COMPANY LIMITED (REGISTERED NUMBER: 04198561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS
Plant and
Short machinery
Leasehold etc Totals
£    £    £   
COST
At 1 July 2023 24,519 379,119 403,638
Additions - 170,260 170,260
At 30 June 2024 24,519 549,379 573,898
DEPRECIATION
At 1 July 2023 24,519 232,442 256,961
Charge for year - 68,277 68,277
At 30 June 2024 24,519 300,719 325,238
NET BOOK VALUE
At 30 June 2024 - 248,660 248,660
At 30 June 2023 - 146,677 146,677

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 July 2023 121,108
Additions 170,260
Transfer to ownership (72,118 )
At 30 June 2024 219,250
DEPRECIATION
At 1 July 2023 42,038
Charge for year 43,604
Transfer to ownership (41,031 )
At 30 June 2024 44,611
NET BOOK VALUE
At 30 June 2024 174,639
At 30 June 2023 79,070

PETERLEE FIRE COMPANY LIMITED (REGISTERED NUMBER: 04198561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023
and 30 June 2024 150
NET BOOK VALUE
At 30 June 2024 150
At 30 June 2023 150

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 553,649 639,017
Amounts owed by group undertakings - 5,728
Other debtors 77,031 118,844
630,680 763,589

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 56,783 14,374
Trade creditors 203,040 289,298
Amounts owed to group undertakings 69,499 51,992
Taxation and social security 107,655 58,526
Other creditors 37,377 27,901
474,354 442,091

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 114,768 35,241

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 56,783 14,374
Between one and five years 114,768 35,241
171,551 49,615

PETERLEE FIRE COMPANY LIMITED (REGISTERED NUMBER: 04198561)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 105,631 86,568
Between one and five years 90,017 52,396
195,648 138,964

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 171,551 49,615

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

The invoice discounting facility is secured against the company's trade debtors.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
130 Ordinary £1 130 130

12. CONTINGENT LIABILITIES

The company has contingent liabilities in respect of a cross-guarantee with the bank borrowings of its subsidiary company; PFC Marine Limited.

13. RELATED PARTY DISCLOSURES

During the year the company received an interest free loan from a company related by way of the company being part of the same group. At the balance sheet date the amount outstanding was £6,200.