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Registered Number: 02440504
England and Wales

 

 

 

UNIVERSAL FIRE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2023

End date: 30 November 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 5 395,506    358,146 
395,506    358,146 
Current assets      
Stocks 6 9,334    9,672 
Debtors 7 153,814    94,837 
Cash at bank and in hand 92,510    127,327 
255,658    231,836 
Creditors: amount falling due within one year 8 (143,022)   (80,900)
Net current assets 112,636    150,936 
 
Total assets less current liabilities 508,142    509,082 
Creditors: amount falling due after more than one year 9 (154,215)   (127,275)
Provisions for liabilities 10 (43,986)   (31,700)
Net assets 309,941    350,107 
 

Capital and reserves
     
Called up share capital 197    197 
General Reserves 11 803    803 
Profit and loss account 308,941    349,107 
Shareholders' funds 309,941    350,107 
 


For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 01 April 2025 and were signed on its behalf by:


-------------------------------
Mr J A Higgs
Director
1
General Information
Universal Fire Limited is a private company, limited by shares, registered in England and Wales, registration number 02440504, registration address Unit 2 Apollo House , Calleva Park, Aldermaston, Berkshire, RG7 8TN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Income is recognised when the company obtains the right to consideration.
Operating lease agreements
Rentals paid under operating leases are charged to profit or loss on a straight line casis over the period of the lease.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Goodwill being the amount paid in connection with the acquisition of a business has been fully amortised.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:


Motor Vehicles                                   20% straight line
Computer Equipment                       33% straight line
Fixtures and Fittings                          15% straight line
Plant and Machinery                         20% straight line
Land and Buildings                            2% straight line 
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.


If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Hire purchase and leasing agreements
Assets held under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.

Work in progress is valued on the basis of direct costs. Provision is made for any forseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 7 (2023 : 6).
3.

Secured debts

The Hire purchase  and finance lease creditors of £162,813 (2023 - £117,740) are secured by a charge over the assets concerned.

4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2023 2,400    2,400 
Additions  
Disposals  
At 30 November 2024 2,400    2,400 
Amortisation
At 01 December 2023 2,400    2,400 
Charge for year  
On disposals  
At 30 November 2024 2,400    2,400 
Net book values
At 30 November 2024  
At 30 November 2023  


5.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Motor Vehicles   Total
  £   £   £   £   £   £
At 01 December 2023 175,504    38,850    43,389    14,726    190,453    462,922 
Additions     890    1,674    90,498    93,062 
Disposals   (29,420)   (2,570)   (5,150)     (37,140)
At 30 November 2024 175,504    9,430    41,709    11,250    280,951    518,844 
Depreciation
At 01 December 2023 7,020    37,218    18,920    12,130    29,488    104,776 
Charge for year 3,510    356    5,266    1,379    45,191    55,702 
On disposals   (29,420)   (2,570)   (5,150)     (37,140)
At 30 November 2024 10,530    8,154    21,616    8,359    74,679    123,338 
Net book values
Closing balance as at 30 November 2024 164,974    1,276    20,093    2,891    206,272    395,506 
Opening balance as at 01 December 2023 168,484    1,632    24,469    2,596    160,965    358,146 

The net book value of Motor Vehicles includes £ 206,272 (2023 £160,965) in respect of assets leased under finance leases or hire purchase contracts.

6.

Stocks

2024
£
  2023
£
Work in Progress 3,913    1,816 
Stocks 5,421    7,856 
9,334    9,672 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 145,731    88,872 
Prepayments & Accrued Income 8,083    5,965 
153,814    94,837 

8.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 57,748    13,839 
Bank Loans & Overdrafts 10,866    9,749 
Corporation Tax 10,927   
PAYE & Social Security 20,812    22,415 
Accrued Expenses 4,774    4,559 
Other Creditors 5,326    5,660 
Obligations under HP/Financial Leases 30,695    23,428 
Directors' Current Accounts 1,874    1,250 
143,022    80,900 

9.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 22,097    32,963 
Obligations Under HP/Financial Leases 132,118    94,312 
154,215    127,275 

10.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 43,986    31,700 
43,986    31,700 

11.

General Reserves

2024
£
  2023
£
General Reserve 803    803 
803    803 

12.

Ultimate controlling party

The company is controlled by J Higgs and Mrs L Higgs by virtue of their shareholding in the company.
2