2024-01-012024-12-312024-12-31false02476883TP FIRE & SECURITY 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TP FIRE & SECURITY LTD

Registered Number
02476883
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

TP FIRE & SECURITY LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Mr. I.G. Morrison
Mr. P.T. Young

Company Secretary

Mrs. K.E. Morrison

Registered Address

Mainline House
Roudham Industrial Estate
East Harling
NR16 2SN

Registered Number

02476883 (England and Wales)
TP FIRE & SECURITY LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Called up share capital not paid490,000-
Fixed assets
Tangible assets382,11567,829
82,11567,829
Current assets
Stocks4785,758481,516
Debtors51,932,9942,170,709
Cash at bank and on hand26,26121,693
2,745,0132,673,918
Creditors amounts falling due within one year6(1,990,266)(2,108,000)
Net current assets (liabilities)1,244,747565,918
Total assets less current liabilities1,326,862633,747
Creditors amounts falling due after one year7(171,738)(144,771)
Net assets1,155,124488,976
Capital and reserves
Called up share capital53,67119,989
Share premium497,2807,280
Profit and loss account604,173461,707
Shareholders' funds1,155,124488,976
The financial statements were approved and authorised for issue by the Board of Directors on 11 June 2025, and are signed on its behalf by:
Mr. I.G. Morrison
Director
Registered Company No. 02476883
TP FIRE & SECURITY LTD
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Revenue from rendering of services
Revenue 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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery-5
Fixtures and fittings-5
Vehicles20-
Office Equipment-4
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year9989
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 January 2458,115385,82812,622456,565
Additions-25,942-25,942
Disposals-(47,557)(12,622)(60,179)
At 31 December 2458,115364,213-422,328
Depreciation and impairment
At 01 January 2416,791359,74912,196388,736
Charge for year82610,405-11,231
On disposals-(47,558)(12,196)(59,754)
At 31 December 2417,617322,596-340,213
Net book value
At 31 December 2440,49841,617-82,115
At 31 December 2341,32426,07942667,829
4.Stocks

2024

2023

££
Work in progress423,380-
Other stocks362,378481,516
Total785,758481,516
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,535,9041,544,987
Other debtors201,209246,663
Prepayments and accrued income195,881379,059
Total1,932,9942,170,709
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables918,2591,017,150
Bank borrowings and overdrafts769,851423,718
Taxation and social security186,736303,230
Accrued liabilities and deferred income115,420363,902
Total1,990,2662,108,000
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts4,16814,771
Other creditors167,570130,000
Total171,738144,771
8.Secured creditors
Included within creditors are secured debts totalling £758,894 (2023 - 438,490). This comprised debts owed under invoice finance arrangements. The invoice discounting provider has a fixed charge on the trade debtors of the company and all present freehold and leasehold property along with a floating charge on all other assets.
9.Operating lease commitments
At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £13,505 (2023 – £NIL)
10.Exceptional items
In December 2023 the company finished paying all of it's obligations under the corporate voluntary arrangement (CVA) and was released from the balance of debts included in that arrangement (£767,662). This balance had previously been included within creditors due after one year because the release was conditional on meeting all of the obligations. The balance was released in the previous accounting period and was included on the face of the profit and loss account as an exceptional item. No exceptional items were recorded in the current year
11.Controlling party
The controlling party is Mr. I.G. Morrison