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REGISTERED NUMBER: 10385381 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Initial Fire & Electrical Limited

Initial Fire & Electrical Limited (Registered number: 10385381)






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 & Electrical Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: E J Briscoe
C D Manton
M Barnett





REGISTERED OFFICE: Unit 23 Laches Close
Four Ashes
Wolverhampton
West Midlands
WV10 7DZ





REGISTERED NUMBER: 10385381 (England and Wales)





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

Initial Fire & Electrical Limited (Registered number: 10385381)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,750 15,625
Tangible assets 5 93,197 48,078
106,947 63,703

CURRENT ASSETS
Stocks 48,350 48,350
Debtors 6 74,726 74,726
Cash at bank 23,009 63,208
146,085 186,284
CREDITORS
Amounts falling due within one year 7 82,924 100,355
NET CURRENT ASSETS 63,161 85,929
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,108

149,632

CREDITORS
Amounts falling due after more than one
year

8

(154,229

)

(142,682

)

PROVISIONS FOR LIABILITIES (3,050 ) (5,907 )
NET ASSETS 12,829 1,043

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 12,729 943
SHAREHOLDERS' FUNDS 12,829 1,043

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 & Electrical Limited (Registered number: 10385381)

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 & Electrical Limited (Registered number: 10385381)

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

1. STATUTORY INFORMATION

Initial Fire & Electrical 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.

Fixtures and fittings - 15% Reducing Balance
Computer equipment - 20% Reducing Balance
Motor vehicles - 25% Reducing Balance

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 taxation assets and liabilities are not discounted.

Current and deferred 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 & Electrical Limited (Registered number: 10385381)

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 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 25,000
AMORTISATION
At 1 January 2024 9,375
Amortisation for year 1,875
At 31 December 2024 11,250
NET BOOK VALUE
At 31 December 2024 13,750
At 31 December 2023 15,625

Initial Fire & Electrical Limited (Registered number: 10385381)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 3,813 76,841 6,525 87,179
Additions - 78,285 - 78,285
Disposals - (27,506 ) - (27,506 )
At 31 December 2024 3,813 127,620 6,525 137,958
DEPRECIATION
At 1 January 2024 1,683 34,183 3,235 39,101
Charge for year 319 20,585 658 21,562
Eliminated on disposal - (15,902 ) - (15,902 )
At 31 December 2024 2,002 38,866 3,893 44,761
NET BOOK VALUE
At 31 December 2024 1,811 88,754 2,632 93,197
At 31 December 2023 2,130 42,658 3,290 48,078

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2024 51,946
Additions 78,284
Transfer to ownership (51,946 )
At 31 December 2024 78,284
DEPRECIATION
At 1 January 2024 32,627
Charge for year 12,821
Transfer to ownership (32,627 )
At 31 December 2024 12,821
NET BOOK VALUE
At 31 December 2024 65,463
At 31 December 2023 19,319

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 73,332 73,332
Other debtors 1,394 1,394
74,726 74,726

Initial Fire & Electrical Limited (Registered number: 10385381)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,972 5,513
Hire purchase contracts 17,547 3,420
Trade creditors 5,748 18,833
Taxation and social security 15,256 29,307
Other creditors 39,401 43,282
82,924 100,355

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 4,589
Hire purchase contracts 27,271 -
Other creditors 126,958 138,093
154,229 142,682

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 4,972 10,102
Hire purchase contracts 44,818 3,420
49,790 13,522

Hire purchase liability is secured against the assets to which it relates.

10. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
100 Share capital 1 1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
C D Manton
Balance outstanding at start of year 1,394 750
Amounts advanced - 644
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,394 1,394