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Registered number: 12286252
Idf Fire Safety Engineering Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Tax and Advise Ltd
19 The Circle
Queen Elizabeth Street
London
SE1 2JE
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 12286252
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,503 8,498
6,503 8,498
CURRENT ASSETS
Debtors 5 136,281 108,405
Cash at bank and in hand 62,265 27,758
198,546 136,163
Creditors: Amounts Falling Due Within One Year 6 (110,815 ) (84,204 )
NET CURRENT ASSETS (LIABILITIES) 87,731 51,959
TOTAL ASSETS LESS CURRENT LIABILITIES 94,234 60,457
NET ASSETS 94,234 60,457
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 94,134 60,357
SHAREHOLDERS' FUNDS 94,234 60,457
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Marija Bjelica
Director
09/04/2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Idf Fire Safety Engineering Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12286252 . The registered office is 111 Power Road, Pc211, London, W4 5PY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% SLM
Office Equipment 25% SLM
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Fixtures & Fittings Office Equipment Total
£ £ £
Cost
As at 1 January 2024 9,320 525 9,845
As at 31 December 2024 9,320 525 9,845
Depreciation
As at 1 January 2024 1,281 66 1,347
Provided during the period 1,864 131 1,995
As at 31 December 2024 3,145 197 3,342
Net Book Value
As at 31 December 2024 6,175 328 6,503
As at 1 January 2024 8,039 459 8,498
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 70,819 91,539
Prepayments and accrued income 64,627 16,031
Rent Deposit 735 735
Called up share capital not paid 100 100
136,281 108,405
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 44,869 20,710
Corporation tax 11,197 5,226
VAT 9,929 11,389
Net wages 61 6
Pension payable 514 244
Accruals and deferred income (Current liabilities - creditors < 1 year) 44,245 46,629
110,815 84,204
7. Share Capital
2024 2023
£ £
Called Up Share Capital not Paid 100 100
Amount of Allotted, Called Up Share Capital 100 100
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Page 4
8. Related Party Transactions
The ultimate parent company is Idf - Ingegneria Del Fuoco S.P.A. a company incorporated in Italy.
During the year, the company made purchases from IDF SPA and also made sales to IDF SPA. The total amount outstanding against purchases as at 31.12.2024 is £45,386.68 and is included in trade creditors in note 6 above and total amount outstanding against sales as at 31.12.2024 is £1967.66 ans same is included in the trade debtos in note 5 above.
9. Controlling Party
The company's controlling party is Mr Andrea Luppi by virtue of his ownership of more than 50% but less than 75% of the issued share capital in the company.
Page 4