IRIS Accounts Production v25.1.4.42 04556054 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh045560542023-12-31045560542024-12-31045560542024-01-012024-12-31045560542022-12-31045560542023-01-012023-12-31045560542023-12-3104556054ns15:EnglandWales2024-01-012024-12-3104556054ns14:PoundSterling2024-01-012024-12-3104556054ns10:Director12024-01-012024-12-3104556054ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3104556054ns10:SmallEntities2024-01-012024-12-3104556054ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3104556054ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3104556054ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3104556054ns10:FullAccounts2024-01-012024-12-3104556054ns10:OrdinaryShareClass12024-01-012024-12-3104556054ns10:Director22024-01-012024-12-3104556054ns10:CompanySecretary12024-01-012024-12-3104556054ns10:RegisteredOffice2024-01-012024-12-3104556054ns5:CurrentFinancialInstruments2024-12-3104556054ns5:CurrentFinancialInstruments2023-12-3104556054ns5:Non-currentFinancialInstruments2024-12-3104556054ns5:Non-currentFinancialInstruments2023-12-3104556054ns5:ShareCapital2024-12-3104556054ns5:ShareCapital2023-12-3104556054ns5:RetainedEarningsAccumulatedLosses2024-12-3104556054ns5:RetainedEarningsAccumulatedLosses2023-12-3104556054ns5:LandBuildings2023-12-3104556054ns5:LeaseholdImprovements2023-12-3104556054ns5:PlantMachinery2023-12-3104556054ns5:LandBuildings2024-01-012024-12-3104556054ns5:LeaseholdImprovements2024-01-012024-12-3104556054ns5:PlantMachinery2024-01-012024-12-3104556054ns5:LandBuildings2024-12-3104556054ns5:LeaseholdImprovements2024-12-3104556054ns5:PlantMachinery2024-12-3104556054ns5:LandBuildings2023-12-3104556054ns5:LeaseholdImprovements2023-12-3104556054ns5:PlantMachinery2023-12-3104556054ns5:FurnitureFittings2023-12-3104556054ns5:MotorVehicles2023-12-3104556054ns5:FurnitureFittings2024-01-012024-12-3104556054ns5:MotorVehicles2024-01-012024-12-3104556054ns5:FurnitureFittings2024-12-3104556054ns5:MotorVehicles2024-12-3104556054ns5:FurnitureFittings2023-12-3104556054ns5:MotorVehicles2023-12-3104556054ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3104556054ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-12-3104556054ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-01-012024-12-3104556054ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3104556054ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3104556054ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3104556054ns10:OrdinaryShareClass12024-12-31
REGISTERED NUMBER: 04556054 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Initial Fire Systems Limited

Initial Fire Systems Limited (Registered number: 04556054)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Initial Fire Systems Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: E J Briscoe
K E Briscoe





SECRETARY: E J Briscoe





REGISTERED OFFICE: Unit 23
Laches Close
Calibre Business Park, Four Ashes
Wolverhampton
West Midlands
WV10 7DZ





REGISTERED NUMBER: 04556054 (England and Wales)





ACCOUNTANTS: Haines Watts Wolverhampton Limited
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA

Initial Fire Systems Limited (Registered number: 04556054)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 329,338 329,825

CURRENT ASSETS
Stocks 70,000 35,000
Debtors 5 332,775 318,536
Cash at bank 80,107 128,920
482,882 482,456
CREDITORS
Amounts falling due within one year 6 169,877 171,925
NET CURRENT ASSETS 313,005 310,531
TOTAL ASSETS LESS CURRENT
LIABILITIES

642,343

640,356

CREDITORS
Amounts falling due after more than one
year

7

(182,453

)

(202,947

)

PROVISIONS FOR LIABILITIES (26,295 ) (24,481 )
NET ASSETS 433,595 412,928

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 433,593 412,926
SHAREHOLDERS' FUNDS 433,595 412,928

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.

Initial Fire Systems Limited (Registered number: 04556054)

Balance Sheet - continued
31 December 2024


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 Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2025 and were signed on its behalf by:





E J Briscoe - Director


Initial Fire Systems Limited (Registered number: 04556054)

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

1. STATUTORY INFORMATION

Initial Fire Systems 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.

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 2% SL
Fixtures and fittings - 15% RB
Plant and machinery - 15% RB
Motor vehicles - 25% RB

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. 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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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


Initial Fire Systems Limited (Registered number: 04556054)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2024 179,827 27,523 25,916
Additions - - -
Disposals - - -
At 31 December 2024 179,827 27,523 25,916
DEPRECIATION
At 1 January 2024 - 9,204 2,978
Charge for year - 550 3,631
At 31 December 2024 - 9,754 6,609
NET BOOK VALUE
At 31 December 2024 179,827 17,769 19,307
At 31 December 2023 179,827 18,319 22,938

Initial Fire Systems Limited (Registered number: 04556054)

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

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2024 19,013 193,823 446,102
Additions - 40,538 40,538
Disposals - (13,495 ) (13,495 )
At 31 December 2024 19,013 220,866 473,145
DEPRECIATION
At 1 January 2024 15,967 88,128 116,277
Charge for year 1,228 22,121 27,530
At 31 December 2024 17,195 110,249 143,807
NET BOOK VALUE
At 31 December 2024 1,818 110,617 329,338
At 31 December 2023 3,046 105,695 329,825

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2024 96,879
Transfer to ownership (15,450 )
At 31 December 2024 81,429
DEPRECIATION
At 1 January 2024 29,785
Charge for year 20,320
Transfer to ownership (7,121 )
At 31 December 2024 42,984
NET BOOK VALUE
At 31 December 2024 38,445
At 31 December 2023 67,094

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 178,441 178,441
Other debtors 154,334 140,095
332,775 318,536

Initial Fire Systems Limited (Registered number: 04556054)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,865 21,298
Hire purchase contracts 25,940 22,335
Trade creditors 7,246 19,381
Taxation and social security 54,424 48,709
Other creditors 60,402 60,202
169,877 171,925

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 67,785 85,525
Hire purchase contracts 22,661 23,163
Other creditors 92,007 94,259
182,453 202,947

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2