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REGISTERED NUMBER: 10045649 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

FIRE DOOR INSPECTION SOLUTIONS LIMITED

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FIRE DOOR INSPECTION SOLUTIONS LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: A Edwards
A Malhan
B Talbot





REGISTERED OFFICE: Magma House
16 Davy Court
Castle Mound Way
Rugby
Warwickshire
CV23 0UZ





REGISTERED NUMBER: 10045649 (England and Wales)





AUDITORS: Magma Audit LLP
Chartered Accountants
Statutory Auditor
Magma House, 16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 3 33,084 -
Tangible assets 4 62,726 94,575
Investments 5 2 2
95,812 94,577

CURRENT ASSETS
Stocks 107,793 23,903
Debtors 6 5,547,351 2,934,992
Cash at bank 536,493 384,840
6,191,637 3,343,735
CREDITORS
Amounts falling due within one year 7 (1,993,894 ) (1,585,964 )
NET CURRENT ASSETS 4,197,743 1,757,771
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,293,555

1,852,348

CREDITORS
Amounts falling due after more than one
year

8

(5,184

)

(25,194

)

PROVISIONS FOR LIABILITIES (13,775 ) (20,979 )
NET ASSETS 4,274,596 1,806,175

CAPITAL AND RESERVES
Called up share capital 11 109,565 109,565
Capital redemption reserve 10,435 (99,565 )
Retained earnings 4,154,596 1,796,175
SHAREHOLDERS' FUNDS 4,274,596 1,806,175

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 Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 May 2025 and were signed on its behalf by:





A Malhan - Director


FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024


1. 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.

The financial statements are prepared in Sterling (£), which is the functional and presentational currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Preparation of consolidated financial statements
The financial statements contain information about Fire Door Inspection Solutions Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Integrated Doorset Solutions Limited, Magma House, 16 Davy Court, Castle Mound Way, Rugby, Warwickshire, CV23 0UZ..

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.

The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably; (d) it is probable that future economic benefits will flow to the entity and (e) when the specific criteria relating to each of the company’s sales channels have been met.

Intangible assets
Intangible fixed assets are stated at cost less amortisation. Cost represents purchase price together with any incidental costs of acquisition.

Amortisation is provided at the following annual rates in order to write off each asset, net of anticipated disposal proceeds, over its estimated useful economic life. Amortisation is charged at the following rates:

Intellectual property - 25% straight line

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery- 25% straight line
Computer equipment- 25% straight line
Motor vehicles- 25% straight line
Fixtures and fittings- 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investments in subsidiaries
Investments in the subsidiary companies are held at cost less accumulated impairment losses.

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


1. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at
transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

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

Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, 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.

(i) Current tax
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

(ii) Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These 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 recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


1. ACCOUNTING POLICIES - continued

Operating and finance lease commitments
At inception the company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.

(i) Finance leased assets
Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases.

Finance leases are capitalised at commencement of the lease as assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Where the implicit rate cannot be determined the company’s incremental borrowing rate is used. Incremental direct costs, incurred in negotiating and arranging the lease, are included in the cost of the asset.

Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding.

(ii) Operating leased assets
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

(iii) Lease incentives
Incentives received to enter into a finance lease reduce the fair value of the asset and are included in the calculation of present value of minimum lease payments.

Incentives received to enter into an operating lease are credited to the profit and loss account, to reduce the lease expense, 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.

Share capital
Ordinary shares are classified as equity.

Research and development
Expenditure on research and development is written off in the period it is incurred.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 30 ) .

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


3. INTANGIBLE FIXED ASSETS
Intellectual
Property
£   
COST
At 1 October 2023 58,971
Additions 39,700
At 30 September 2024 98,671
AMORTISATION
At 1 October 2023 58,971
Amortisation for year 6,616
At 30 September 2024 65,587
NET BOOK VALUE
At 30 September 2024 33,084
At 30 September 2023 -

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 10,636 2,022 100,728 44,585 157,971
Additions - 1,331 - 12,298 13,629
Disposals - - (19,996 ) - (19,996 )
At 30 September 2024 10,636 3,353 80,732 56,883 151,604
DEPRECIATION
At 1 October 2023 9,248 1,660 14,951 37,537 63,396
Charge for year 1,377 368 23,057 4,429 29,231
Eliminated on disposal - - (3,749 ) - (3,749 )
At 30 September 2024 10,625 2,028 34,259 41,966 88,878
NET BOOK VALUE
At 30 September 2024 11 1,325 46,473 14,917 62,726
At 30 September 2023 1,388 362 85,777 7,048 94,575

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 2
NET BOOK VALUE
At 30 September 2024 2
At 30 September 2023 2

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,501,316 2,227,310
Amounts owed by group undertakings 2,302,295 372,679
Other debtors 1,859 6,500
Prepayments and accrued income 741,881 328,503
5,547,351 2,934,992

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 20,010 18,895
Trade creditors 165,642 140,240
Amounts owed to group undertakings 167,183 282,556
Tax 417,617 451,936
Social security and other taxes 39,360 37,692
Pensions 14,039 5,086
VAT 523 17,289
Other creditors 60,754 63,670
Accruals and deferred income 1,108,766 568,600
1,993,894 1,585,964

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 5,184 25,194

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 20,010 18,895
Between one and five years 5,184 25,194
25,194 44,089

The future minimum hire purchase lease payments are as follows:
2024 2023
£ £
Not later than one year 20,936 20,936
Later than one year and not later than five years 5,234 26,170
Total gross payments 26,170 47,106
Less: finance charges (976 ) (3,017 )
Carrying amount of liability 25,194 44,089

FIRE DOOR INSPECTION SOLUTIONS LIMITED (REGISTERED NUMBER: 10045649)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase 25,194 44,089

The net obligations under hire purchase contracts are secured on the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
109,565 Ordinary £1 109,565 109,565

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Victoria Craig (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP

13. CONTINGENT LIABILITIES

Loan notes of the ultimate parent company are secured by a debenture and legal charges over the group's properties, including a fixed and floating charge.

14. RELATED PARTY DISCLOSURES

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.

During the year sales of £nil (2023: £4,552) were made to a company with common directors.

15. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Integrated Doorset Solutions Limited.

The ultimate parent company is IDSL Group Holdings Limited by virtue of its majority shareholding in the immediate parent company.

There is no ultimate controlling party in the current or the prior year, as no single shareholder has control of the ultimate parent company by virtue of shareholding.