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Company registration number: 09831499
Pro-Fire-UK Limited
Unaudited filleted financial statements
31 October 2024
Pro-Fire-UK Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Pro-Fire-UK Limited
Directors and other information
Director Mr D Connolly
Company number 09831499
Registered office 106 Moston Lane East
Manchester
M40 3QL
Accountant J P Gallagher & Co
106 Moston Lane East
Manchester
M40 3QL
Bankers The Royal Bank of Scotland
1051 Oldham Road
Newton Heath
Manchester
M40 2EH
Pro-Fire-UK Limited
Statement of financial position
31 October 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 73,076 41,430
_______ _______
73,076 41,430
Current assets
Debtors 7 434,071 452,972
Cash at bank and in hand 171,155 232,085
_______ _______
605,226 685,057
Creditors: amounts falling due
within one year 8 ( 80,221) ( 80,415)
_______ _______
Net current assets 525,005 604,642
_______ _______
Total assets less current liabilities 598,081 646,072
Creditors: amounts falling due
after more than one year 9 ( 81,852) ( 57,861)
Provisions for liabilities ( 11,414) ( 7,871)
_______ _______
Net assets 504,815 580,340
_______ _______
Capital and reserves
Called up share capital 11 2 2
Profit and loss account 504,813 580,338
_______ _______
Shareholders funds 504,815 580,340
_______ _______
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 July 2025 , and are signed on behalf of the board by:
Mr D Connolly
Director
Company registration number: 09831499
Pro-Fire-UK Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 106 Moston Lane East, Manchester, M40 3QL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Dividends
Equity dividends
2024 2023
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 140,000 140,000
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 20,196 6,234 73,084 99,514
Additions - - 42,590 42,590
_______ _______ _______ _______
At 31 October 2024 20,196 6,234 115,674 142,104
_______ _______ _______ _______
Depreciation
At 1 November 2023 11,347 3,206 43,531 58,084
Charge for the year 1,327 454 9,163 10,944
_______ _______ _______ _______
At 31 October 2024 12,674 3,660 52,694 69,028
_______ _______ _______ _______
Carrying amount
At 31 October 2024 7,522 2,574 62,980 73,076
_______ _______ _______ _______
At 31 October 2023 8,849 3,028 29,553 41,430
_______ _______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 175,664 184,865
Other debtors 258,407 268,107
_______ _______
434,071 452,972
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 11,200 11,101
Corporation tax 8,532 54,515
Other creditors 60,489 14,799
_______ _______
80,221 80,415
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 32,554 37,997
Other creditors 49,298 19,864
_______ _______
81,852 57,861
_______ _______
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note ) 11,414 7,871
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 11,414 7,871
_______ _______
11. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares shares of £ 1.00 each 1 1 1 1
Ordinary A shares shares of £ 1.00 each 1 1 1 1
_______ _______ _______ _______
2 2 2 2
_______ _______ _______ _______
12. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr D Connolly 24,508 ( 24,720) - ( 212)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr D Connolly 64,953 29,555 ( 70,000) 24,508
_______ _______ _______ _______
13. Controlling party
The ultimate controlling party is Mr D. Connolly as he is the managing director of the business and holds the one ordinary share in issue.