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REGISTERED NUMBER: 02990058 (England and Wales)














FIRE PROTECTION LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2024






FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024










Page

Company Information 1

Strategic Report 2 to 3

Report of the Directors 4 to 6

Report of the Independent Auditors 7 to 9

Statement of Income and Retained Earnings 10

Statement of Financial Position 11

Notes to the Financial Statements 12 to 21


FIRE PROTECTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: C Lapina-Amarelle FMAAT FCCA
O C Y Grob
T Cooper
D Vine





REGISTERED OFFICE: 7 Marshall Road
Hampden Park Industrial Estate
Eastbourne
East Sussex
BN22 9AX





REGISTERED NUMBER: 02990058 (England and Wales)





AUDITORS: GMP Audit Limited, Statutory Auditor
20 Eversley Road
Bexhill on Sea
East Sussex
TN40 1HE

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


Principal activities

The company's principal activity is the supply of fire protected ventilation and air conditioning ductwork as manufacturers and contractors.

BUSINESS REVIEW
The business delivered a turnover for the year ended 30th September 2024 of £17.8m (2023: £12.3m) and our operating loss was £1.3m (2023: operating loss £1.8m).

A customer of the business went into administration in September 2024 and although the debts owed to the business were not substantial, there were still losses that had to be written off during the period to September 2024 on two projects.

The business had suffered a second very tough year, with continued price increases from Insulation and Installation companies, shortages on certain products and both manufacture and spray factory delays.

These issues are being resolved or have already been resolved by;
* additional factory capacity for the increased workload
* further product testing to widen the scope of materials that can be used on the fire rated product
* changes have been and are continuing to be made with the personnel who are managing the projects and/or engaging the subcontractors to address project costs and recovery
* the Estimating process is being conducted going forward from the Eastbourne office under the direction of an experienced estimating team leader

As well as the above, there have been significant changes in personnel within the business and a new company structure will be announced in the new year.

During the summer of 2023, the Group, including Fire Protection Ltd, became Carbon Neutral (PAS2060:2014) and continues to work towards its goals of becoming Net Zero.

The board thanks every employee for their continuing hard work and efforts on behalf of the company.

PRINCIPAL RISKS, UNCERTAINTIES AND FUTURE OUTLOOK
Long term contract management: The risks that the Company are exposed to depends on the size and complexity of the project together with the legal form of the contract. The development and retention of high-quality staff is essential to the success of our business and the effective operation of our contract management processes. The Company maintains effective procedures for the estimation and tendering process as well as for the management and monitoring of contracts in progress.

The Company is exposed to risks that could impact the delivery of our contracts to our clients on time and within the estimated costs. Robust controls exist to monitor and manage contract performance throughout the contract to identify and manage risks as they arise throughout the contract. The Company monitors performance of its suppliers and contractors throughout the contract.


FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

STRATEGIC REPORT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

KEY PERFORMANCE INDICATORS (KPIS)
The Company directors consider the revenue and operating profit of the business to be the key performance indicators, these are set out below.

Turnover increased to £17.8m from £12.3m and there was an operating loss of £1.3m compared to an operating loss of £1.8m in the previous year.

ON BEHALF OF THE BOARD:





C Lapina-Amarelle FMAAT FCCA - Director


6th June 2025

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


The directors present their report with the financial statements of the company for the year ended 30th September 2024.

PRINCIPAL ACTIVITY
The company's principal activity is the supply of fire protected ventilation and air conditioning ductwork as manufacturers and contractors.

DIVIDENDS
No dividends will be distributed for the year ended 30th September 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st October 2023 to the date of this report.

C Lapina-Amarelle FMAAT FCCA
O C Y Grob

Other changes in directors holding office are as follows:

S Harrison - resigned 31st August 2024
T Cooper - appointed 8th January 2024
D J Baldock - appointed 31st August 2024

D Vine was appointed as a director after 30th September 2024 but prior to the date of this report.

D J Baldock ceased to be a director after 30th September 2024 but prior to the date of this report.

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The company uses financial instruments, other than derivatives, comprising borrowings, cash and other liquid resources and various other items such as trade debtors and creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations. The main risks arising from the company's financial instruments are interest rate risk, liquidity risk and customer credit exposure. The directors review and agree policies for managing each of these risks and they are summarised below.

Interest rate risk

The company finances its operations using retained profits. The directors do not consider that there is a risk of significant fluctuation in the rate for the foreseeable future.

Liquidity risk

The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest any cash assets safely and profitably. Debt is structured so repayments can be made out of cash generated through operations.

Customer credit exposure

The company may offer credit terms to its customers which allow payment of the debt after delivery of the goods or services. The company is at risk to the extent that a customer may be unable to pay the debt on the specified due date. This risk is mitigated by the strong on-going customer relationships and active debt management.


FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Going concern

The directors have given careful consideration to the risks and uncertainties on businesses operations. The Company has modelled sensitivities on decreases in turnover and cash at 10%, 20% and 30% increments, with no changes to overheads for a period of twelve months beyond the date of signing these financial reports.

Under these scenarios, the business would continue to trade with adequate cash balances and have taken steps to manage its cash flow.

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

QUALIFYING THIRD PARTY INDEMNITY PROVISION
In accordance with clause 20.1.1 of the Articles of Association, a qualifying indemnity provision is in force for the benefit of each of the directors of the company.

MATTERS COVERED IN THE STRATEGIC REPORT
Information in respect of business review and key performance indicators (KPIs) are not shown in the Directors' Report because they are presented in the Strategic Report in accordance with s414c(ii) of the Companies Act 2006.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITOR
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditor is unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


AUDITORS
The auditor, GMP Audit Limited, Statutory Auditor offer themselves for re-appointment as auditor in accordance with Section 485(4) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





C Lapina-Amarelle FMAAT FCCA - Director


6th June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FIRE PROTECTION LIMITED


Opinion
We have audited the financial statements of Fire Protection Limited (the 'company') for the year ended 30th September 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30th September 2024 and of its loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FIRE PROTECTION LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Discussions with management which included consideration of known or suspected instances of
non-compliance with laws and regulations and fraud.
- Reviewing, evaluating and testing systems and controls to assess their effectiveness to prevent
and detect irregularities.
- Identifying, reviewing and testing of journal entries.
- Challenging assumptions and judgements made by management in respect of significant
accounting estimates.
- Reviewing minutes of Board Meetings for known or suspected instances of non-compliance with
laws and regulations and fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
FIRE PROTECTION LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Daniel Sallows FCA (Senior Statutory Auditor)
for and on behalf of GMP Audit Limited, Statutory Auditor
20 Eversley Road
Bexhill on Sea
East Sussex
TN40 1HE

10th June 2025

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2024 2023
Notes £'000 £'000 £'000

TURNOVER 3 17,763 12,283

Cost of sales 15,934 11,474
GROSS PROFIT 1,829 809

Distribution costs 214 246
Administrative expenses 2,875 2,409
3,089 2,655
OPERATING LOSS (1,260 ) (1,846 )

Interest receivable and similar income 5 - 1
(1,260 ) (1,845 )

Interest payable and similar expenses 6 59 12
LOSS BEFORE TAXATION 7 (1,319 ) (1,857 )

Tax on loss 8 (733 ) (4 )
LOSS FOR THE FINANCIAL YEAR (586 ) (1,853 )

Retained earnings at beginning of year 3,227 5,080

RETAINED EARNINGS AT END OF
YEAR

2,641

3,227

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

STATEMENT OF FINANCIAL POSITION
30TH SEPTEMBER 2024

2024 2023
Notes £'000 £'000 £'000
FIXED ASSETS
Intangible assets 9 20 38
Tangible assets 10 73 139
Investments 11 - -
93 177

CURRENT ASSETS
Stocks 12 173 374
Debtors 13 6,524 5,529
Cash at bank and in hand 14 99 144
6,796 6,047
CREDITORS
Amounts falling due within one year 15 3,998 2,747
NET CURRENT ASSETS 2,798 3,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,891

3,477

CAPITAL AND RESERVES
Called up share capital 19 250 250
Retained earnings 20 2,641 3,227
SHAREHOLDERS' FUNDS 2,891 3,477

The financial statements were approved by the Board of Directors and authorised for issue on 6th June 2025 and were signed on its behalf by:





C Lapina-Amarelle FMAAT FCCA - Director


FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024


1. STATUTORY INFORMATION

Fire Protection 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 presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors have given careful consideration to the risks and uncertainties on businesses operations.

The Company has modelled sensitivities on decreases in turnover and cash at 10%, 20% and 30% increments, with no changes to overheads for a period of twelve months beyond the date of signing these financial reports.

Under these scenarios, the business would continue to trade with adequate cash balances and have taken steps to manage its cash flow.

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Financial Reporting Standard 102 - reduced disclosure exemptions
The accounts of Fire Protection Limited (the “Company”) have adopted the following disclosure exemptions:
- the requirement to present a statement of cash flows and related notes
- financial instrument disclosures, including:
1. categories of financial instruments,
2. items of income, expenses, gains or losses relating to financial instruments, and
exposure to and management of financial risks.

Preparation of consolidated financial statements
The financial statements contain information about Fire Protection 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 ultimate parent undertaking Grob & Co Holdings Limited, registered in England and Wales.

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

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


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include long term contracts. Where it is considered that the outcome of a long term contract can be assessed with reasonable certainty, attributable profit is recognised in the profit and loss account as the difference between the reported turnover and related costs for that contract. Provision is made on a contract by contract basis for all foreseeable losses. The value of long term contract work in progress, including retentions, at the year end for the company was £309,948 (2023: £287,107).

Turnover
Turnover represents the value of work done during the period excluding value added tax and discounts.

Long term contracts

For long term contracts, turnover is calculated by reference to the value of contracts completed in the period and the movement in contract valuations during the period. Revenue and costs are recognised by reference to the stage of completion of the contract at the balance sheet date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable. Where it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense.

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.

Intangible fixed assets and amortisation
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over their estimated useful economic lives at the following rates:

Licences 10% to 33% per annum on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 5 years
Office equipment - 3 to 7 years
Motor vehicles - 4 years

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

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

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


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Direct overheads and direct labour costs are included in the cost of work in progress.

Financial instruments
Non-derivative financial instruments comprise trade and other receivables, cash and cash equivalents, loans and borrowings and trade and other payables.

A financial instrument is recognised if the company becomes party to the contractual provisions of the instrument. Financial instruments are derecognised if the company's contractual rights to the cash flows from the financial asset expire. Financial liabilities are derecognised if the company's obligations specified in the contract expire or are discharged or cancelled.

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 statement of financial position date.

Deferred tax
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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Retirement benefits
The company is a member of a group which operates a pension scheme providing benefits based on final pensionable pay. The assets of the scheme are held separately from those of the group. Contributions to the scheme are charged to the profit and loss account so as to spread the cost of pensions over employees' working lives with the group.

The group also operates an auto enrolment pension scheme and a group personal pension scheme. The assets of the schemes are held separately from those of the group in independently administered funds. The amount charged against profits represents the contributions payable to the schemes in respect of the accounting period.

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

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


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Contract work in progress is stated at costs incurred, less those transferred to the profit and loss account, after deducting foreseeable losses and payments on account not matched with turnover.

Amounts recoverable on contracts are included in debtors and represent turnover recognised in excess of payments on account.

Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and on-demand deposits. Bank overdrafts are shown within Creditors: amounts falling due within one year in the Statement of Financial Position.

Creditors
Short term trade 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 measured subsequently at amortised cost.

3. TURNOVER

All turnover arises within the UK and relates to the company's principal activity of fire protected ventilation and air conditioning ductwork manufacturers and contractors.

The amount of contract revenue recognised as turnover in the year was £17,745,764 (2023: £12,283,723).

4. EMPLOYEES AND DIRECTORS

20242023
£'000£'000

Wages and salaries3,3803,246
Social security costs351351
Other pension costs86139
3,8173,736

The average number of employees during the year was as follows:

20242023
NumberNumber

Production2542
Administration4841
7383

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

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


Remuneration in respect of directors was as follows:

2024 2023
£'000 £'000

Emoluments 117 112
Pension contributions 9 10
126 192

During the period 1 director (2023: 1) participated in a money purchase pension scheme.

The emoluments of the highest paid director, excluding pension contributions, were £116,764 (2023: £112,281). Company pension contributions of £8,643, were made to the personal pension scheme on their behalf (2023: £9,800).

5. INTEREST RECEIVABLE AND SIMILAR INCOME
2024 2023
£'000 £'000
Interest from group companies - 1

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£'000 £'000
Interest payable to group
companies 59 -
Hire purchase - 12
59 12

7. LOSS BEFORE TAXATION

The profit is stated after charging/(crediting):
20242023
£'000£'000
Hire of plant and machinery306157
Vehicle leasing7795
Depreciation of owned assets7998
Amortisation of owned assets18-
Auditor's remuneration1414
(Profit)/loss on disposal of fixed assets(3)(3)
Operating leases427375

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

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


8. TAXATION

Analysis of the tax credit
The tax credit on the loss for the year was as follows:
2024 2023
£'000 £'000
Current tax:
UK corporation tax - (4 )

Deferred tax (733 ) -
Tax on loss (733 ) (4 )

Reconciliation of total tax credit included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£'000 £'000
Loss before tax (1,319 ) (1,857 )
Loss multiplied by the standard rate of corporation tax in the UK
of 25% (2023 - 25%)

(330

)

(464

)

Effects of:
Expenses not deductible for tax purposes 3 20
Adjustments to tax charge in respect of previous periods - (4 )
Origination and reversal of timing differences not recognised 16 11
Deferred Tax asset not recognised in connection with losses - 433
Deferred Tax asset recognised in connection with losses (422 ) -
Total tax credit (733 ) (4 )

9. INTANGIBLE FIXED ASSETS
Patents
and
licences
£'000
COST
At 1st October 2023
and 30th September 2024 38
AMORTISATION
Amortisation for year 18
At 30th September 2024 18
NET BOOK VALUE
At 30th September 2024 20
At 30th September 2023 38

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

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


10. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£'000 £'000 £'000 £'000
COST
At 1st October 2023 861 397 118 1,376
Additions 13 22 - 35
Disposals (498 ) (3 ) - (501 )
At 30th September 2024 376 416 118 910
DEPRECIATION
At 1st October 2023 800 320 117 1,237
Charge for year 30 47 1 78
Eliminated on disposal (475 ) (3 ) - (478 )
At 30th September 2024 355 364 118 837
NET BOOK VALUE
At 30th September 2024 21 52 - 73
At 30th September 2023 61 77 1 139

11. FIXED ASSET INVESTMENTS

At 30th September 2024 and 30th September 2023 the company owned 100% of the issued shares comprising 100 ordinary shares of £1 each of Firestorm Filtration Limited, a company incorporated in England and Wales, registered address 7 Marshall Road, Eastbourne, BN22 9AX. The company has not yet commenced trading.

12. STOCKS
2024 2023
£'000 £'000
Raw materials 173 374

Stock recognised in cost of sales during the year as an expense was £1,472,251 (2023: £2,518,749).

An impairment loss of £nil (2023: loss £3,406) was recognised in cost of sales against stock during the year in respect of slow-moving and obsolete stock.

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

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


13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£'000 £'000
Trade debtors 5,088 4,304
Amounts owed by group undertakings - 598
Amounts recoverable on contract 310 289
Other debtors 5 16
VAT 183 96
Deferred tax asset 733 -
Prepayments 205 226
6,524 5,529

The amounts owed by the group undertakings includes £380,614 (2023: £577,974) which is an unsecured loan with Grob Group Ltd, repayable on demand, with no specific repayment date. The company is also owed £154,909 (2023: £19,836 by Hotchkiss Limited in relation to trading activity.

Within trade debtors and amounts recoverable on contracts is a total of £4,914,991 (2023: £4,216,054) due within one year from customers for contract work. In addition, an amount of £482,679 (2023: £377,070) within trade debtors falls due after more than one year.

14. CASH AT BANK AND IN HAND

2024 2023
£'000 £'000

Cash at bank and in hand 99 144
99 144

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£'000 £'000
Payments on account 174 3
Trade creditors 2,812 2,234
Amounts owed to group undertakings 184 -
Tax 1 -
Social security and other taxes 81 92
Other creditors 9 29
Accrued expenses 737 389
3,998 2,747

Other creditors includes £8,952 (2023: £11,387) due in respect of pension contributions. The amount of contributions included therein in relation to directors is £1,201 (2023: £1,093).

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

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


16. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£'000 £'000
Within one year 433 478
Between one and five years 1,233 1,454
In more than five years 304 461
1,970 2,393

17. SECURED DEBTS

The company, together with other members of the group, has provided a debenture and cross guarantee in favour of Barclays Bank PLC as security for all money, obligations and liabilities owing to them. The security is capped at a maximum aggregate value of £600,000. Barclays Bank have a fixed charge over properties owned by the group and a floating charge over all other assets of the group.

At the balance sheet date, there were no amounts owed to Barclays Bank PLC by any group company with regard to which the security could be called upon.

18. DEFERRED TAX

The company has recognised its deferred tax asset of £732,886 (2023: unrecognised asset of £402,294) arising through tax losses as it is expected that these losses would either be used by the company or sold to other group companies.

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £'000 £'000
250,000 Ordinary £1 250 250

20. RESERVES
Retained
earnings
£'000

At 1st October 2023 3,227
Deficit for the year (586 )
At 30th September 2024 2,641

21. PENSION COMMITMENTS

The company participates in three pension schemes operated by Grob Group Limited, its immediate parent undertaking. Particulars of the group schemes are contained in the financial statements of Grob & Co Holdings Limited.

FIRE PROTECTION LIMITED (REGISTERED NUMBER: 02990058)

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


22. RELATED PARTY DISCLOSURES

The company's ultimate parent undertaking is Grob & Co Holdings Ltd. Grob & Co Holdings Ltd is a company registered in England and Wales and heads the overall group in which the results of the company are consolidated.

The ultimate controlling party of the group is Mr O C Y Grob.

As the company is a wholly owned subsidiary of Grob & Co Holdings Limited, the company has taken advantage of the exemption contained in FRS 102 and has not disclosed transactions or balances with entities which form part of the group. The financial statements of Grob & Co Holdings Limited can be obtained from the company's registered office at 7 Marshall Road, Hampden Park Industrial Estate, Eastbourne, East Sussex, BN22 9AX.

Directors consider that all key management personnel are directors of the company, information
regarding Key management personnel compensation is included in directors emoluments, note 4 of these accounts.

23. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Grob & Co Holdings Limited. The ultimate controlling party of the group is Mr O C Y Grob.

Grob & Co Holdings Limited is a company registered in England and Wales. It is the company's ultimate parent undertaking and heads the largest group in which the results of the company are consolidated.