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REGISTERED NUMBER: SC310567 (Scotland)















Financial Statements for the Year Ended 31 December 2024

for

FIRE PREVENTION SPRINKLERS LTD

FIRE PREVENTION SPRINKLERS LTD (REGISTERED NUMBER: SC310567)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


FIRE PREVENTION SPRINKLERS LTD (REGISTERED NUMBER: SC310567)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 109,186 91,322

Current assets
Stocks 18,900 3,000
Debtors 5 286,138 213,229
Cash at bank 71,410 43,235
376,448 259,464
Creditors
Amounts falling due within one year 6 (281,073 ) (203,943 )
Net current assets 95,375 55,521
Total assets less current liabilities 204,561 146,843

Creditors
Amounts falling due after more than one
year

7

(1,389

)

(3,056

)

Provisions for liabilities (27,297 ) (17,278 )
Net assets 175,875 126,509

Capital and reserves
Called up share capital 9 1,000 1,000
Retained earnings 174,875 125,509
Shareholders' funds 175,875 126,509

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:





G Bennett - Director


FIRE PREVENTION SPRINKLERS LTD (REGISTERED NUMBER: SC310567)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. Statutory information

Fire Prevention Sprinklers Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC310567

Registered office: 1 Long Craig Rigg
West Shore Road
Edinburgh
EH5 1QT

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and excluding discounts, rebates value added tax and other sales taxes.

Turnover was derived from work carried out installing fire safety appliances. Revenue from contracts is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably
- it is probable that the company will receive the consideration due under the contract
- the stage of completion of the contract at the end of the reporting period can be measured reliably, and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.


Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


FIRE PREVENTION SPRINKLERS LTD (REGISTERED NUMBER: SC310567)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. Accounting policies - continued
Taxation
Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation represents the future taxation consequences of transactions and events recognised in the
financial statements of current and previous periods. It is recognised in respect of all timing differences, with
certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits.

Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits
The company operates money purchase (defined contribution) pension scheme. Contributions are charged against profits on the amounts payable for the year.

Hire purchase and leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Bank and cash
Cash at bank and in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

3. Employees and directors

The average number of employees during the year was 18 (2023 - 13 ) .

FIRE PREVENTION SPRINKLERS LTD (REGISTERED NUMBER: SC310567)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


4. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 January 2024 32,661 119,161 7,067 158,889
Additions 542 43,084 1,003 44,629
Disposals - (30,875 ) - (30,875 )
At 31 December 2024 33,203 131,370 8,070 172,643
Depreciation
At 1 January 2024 7,676 54,473 5,418 67,567
Charge for year 5,051 17,614 1,158 23,823
Written back on disposals - (27,933 ) - (27,933 )
At 31 December 2024 12,727 44,154 6,576 63,457
Net book value
At 31 December 2024 20,476 87,216 1,494 109,186
At 31 December 2023 24,985 64,688 1,649 91,322


5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 250,506 158,150
Other debtors 35,632 55,079
286,138 213,229

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts 1,667 1,667
Trade creditors 54,940 79,640
Taxation and social security 47,205 15,300
Other creditors 177,261 107,336
281,073 203,943

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 1,389 3,056

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 3,056 4,723

The hire purchase contracts are secured over the assets concerned.

FIRE PREVENTION SPRINKLERS LTD (REGISTERED NUMBER: SC310567)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


9. Called up share capital

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