IRIS Accounts Production v24.3.2.46 12353797 Board of Directors 1.8.23 31.7.24 31.7.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh123537972023-07-31123537972024-07-31123537972023-08-012024-07-31123537972022-07-31123537972022-08-012023-07-31123537972023-07-3112353797ns15:EnglandWales2023-08-012024-07-3112353797ns14:PoundSterling2023-08-012024-07-3112353797ns10:Director12023-08-012024-07-3112353797ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3112353797ns10:SmallEntities2023-08-012024-07-3112353797ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3112353797ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3112353797ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3112353797ns10:FullAccounts2023-08-012024-07-311235379712023-08-012024-07-3112353797ns10:OrdinaryShareClass12023-08-012024-07-3112353797ns10:Director22023-08-012024-07-3112353797ns10:RegisteredOffice2023-08-012024-07-3112353797ns5:CurrentFinancialInstruments2024-07-3112353797ns5:CurrentFinancialInstruments2023-07-3112353797ns5:ShareCapital2024-07-3112353797ns5:ShareCapital2023-07-3112353797ns5:RetainedEarningsAccumulatedLosses2024-07-3112353797ns5:RetainedEarningsAccumulatedLosses2023-07-3112353797ns5:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3112353797ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-08-012024-07-3112353797ns5:ComputerSoftware2023-08-012024-07-3112353797ns5:PlantMachinery2023-08-012024-07-3112353797ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-07-3112353797ns5:ComputerSoftware2023-07-3112353797ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-07-3112353797ns5:ComputerSoftware2024-07-3112353797ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-07-3112353797ns5:ComputerSoftware2023-07-3112353797ns5:PlantMachinery2023-07-3112353797ns5:PlantMachinery2024-07-3112353797ns5:PlantMachinery2023-07-3112353797ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3112353797ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3112353797ns10:OrdinaryShareClass12024-07-31123537971ns10:Director12023-07-31123537971ns10:Director12022-07-31123537971ns10:Director12023-08-012024-07-31123537971ns10:Director12022-08-012023-07-31123537971ns10:Director12024-07-31123537971ns10:Director12023-07-31
REGISTERED NUMBER: 12353797 (England and Wales)






Firth Profiles IP Limited

Financial Statements

for the Year Ended 31 July 2024






Firth Profiles IP Limited (Registered number: 12353797)

Contents of the Financial Statements
for the year ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Firth Profiles IP Limited

Company Information
for the year ended 31 July 2024







DIRECTORS: Mr J T Firth
Mrs A R Firth





REGISTERED OFFICE: Calderbank
River Street
Brighouse
West Yorkshire
HD6 1LU





REGISTERED NUMBER: 12353797 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Firth Profiles IP Limited (Registered number: 12353797)

Balance Sheet
31 July 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 302,456 307,039
Tangible assets 5 14,483 5,369
316,939 312,408

CURRENT ASSETS
Debtors 6 214,311 259,410
Cash at bank 289,438 329,401
503,749 588,811
CREDITORS
Amounts falling due within one year 7 121,727 274,031
NET CURRENT ASSETS 382,022 314,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

698,961

627,188

PROVISIONS FOR LIABILITIES 2,104 -
NET ASSETS 696,857 627,188

Firth Profiles IP Limited (Registered number: 12353797)

Balance Sheet - continued
31 July 2024

2024 2023
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 8 70,000 70,000
Retained earnings 626,857 557,188
SHAREHOLDERS' FUNDS 696,857 627,188

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





Mr J T Firth - Director


Firth Profiles IP Limited (Registered number: 12353797)

Notes to the Financial Statements
for the year ended 31 July 2024


1. STATUTORY INFORMATION

Firth Profiles IP 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.

The functional and presentation currency for the company is pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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, excluding discounts, rebates, value added tax and other sales taxes.

The turnover shown in the income statement represents royalty income which is included on a receivable basis calculated on sales of products arising during each accounting period as reported by the licensee.

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.

Trademarks and intellectual property are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost

Fixed assets are originally recorded at cost.

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 its financial instruments.

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

Financial assets and liabilities ae 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.


Firth Profiles IP Limited (Registered number: 12353797)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Trademarks
and
intellectual Computer
property software Totals
£ £ £
COST
At 1 August 2023 65,185 264,264 329,449
Additions 6,300 23,380 29,680
At 31 July 2024 71,485 287,644 359,129
AMORTISATION
At 1 August 2023 20,208 2,202 22,410
Amortisation for year 6,863 27,400 34,263
At 31 July 2024 27,071 29,602 56,673
NET BOOK VALUE
At 31 July 2024 44,414 258,042 302,456
At 31 July 2023 44,977 262,062 307,039

Firth Profiles IP Limited (Registered number: 12353797)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


5. TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 1 August 2023 13,423
Additions 13,110
At 31 July 2024 26,533
DEPRECIATION
At 1 August 2023 8,054
Charge for year 3,996
At 31 July 2024 12,050
NET BOOK VALUE
At 31 July 2024 14,483
At 31 July 2023 5,369

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed by related parties 17,103 259,410
Directors' current accounts 197,208 -
214,311 259,410

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 12,500 12,499
Tax 19,563 42,806
VAT 24,664 29,726
Other creditors 62,500 187,500
Accruals and deferred income 2,500 1,500
121,727 274,031

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
70,000 Ordinary £1 70,000 70,000

Firth Profiles IP Limited (Registered number: 12353797)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£ £
Mr J T Firth
Balance outstanding at start of year - -
Amounts advanced 197,208 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 197,208 -