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Registered number: 02841816










FIRE SHIELD LIMITED

UNAUDITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 OCTOBER 2024
 






 



 






 
FIRE SHIELD LIMITED
 

COMPANY INFORMATION


Directors
Mr G Rutherford 
Mr M Palmer 
Mr J Raper 
Mr S Jones 




Company secretary
Mr M Palmer



Registered number
02841816



Registered office
The Old Forge
The Street

Ewhurst

Cranleigh

Surrey

GU6 7QD




Accountants
Wellden Turnbull Limited
Chartered Accountants

Albany House

Claremont Lane

Esher

Surrey

KT10 9FQ





 
FIRE SHIELD LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 10


 
FIRE SHIELD LIMITED
REGISTERED NUMBER:02841816

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
                                                                    Note
£
£

Fixed assets
  

Intangible assets
 4 
1,800
2,400

Tangible assets
 5 
44,696
55,297

  
46,496
57,697

Current assets
  

Debtors: amounts falling due within one year
 6 
1,460,695
1,550,023

Cash at bank and in hand
 7 
186,487
4,428

  
1,647,182
1,554,451

Creditors: amounts falling due within one year
 8 
(859,011)
(1,195,495)

Net current assets
  
 
 
788,171
 
 
358,956

Total assets less current liabilities
  
834,667
416,653

Creditors: amounts falling due after more than one year
 9 
(11,369)
(21,594)

Provisions for liabilities
  

Deferred tax
 10 
(519)
(3,698)

Other provisions
 11 
(250,000)
(50,000)

  
 
 
(250,519)
 
 
(53,698)

Net assets
  
572,779
341,361


Capital and reserves
  

Called up share capital 
 12 
108
108

Profit and loss account
  
572,671
341,253

Shareholders' funds
  
572,779
341,361


Page 1

 
FIRE SHIELD LIMITED
REGISTERED NUMBER:02841816

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr M Palmer
Director

Date: 27 July 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
FIRE SHIELD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Fire Shield Limited is a private company, limited by shares and incorporated in England and Wales, registered number 02841816. The registered office address is: The Old Forge, The Street, Ewhurst Cranleigh, Surrey, GU6 7QD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling and rounded to the nearest £.

The following principal accounting policies have been applied:

  
2.2

Compliance with accounting standards

The financial statements have been prepared using FRS102, the financial reporting standard applicable in the UK and Republic of Ireland, including the disclosure and presentation requirements of Section 1A, applicable to small companies. There were no material departures from that standard.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis as the directors believe that the Company will continue to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of the financial statements. In assessing the appropriateness of the going concern basis of preparation the directors have taken into account the key risks of the business. In doing so the directors have considered the Company's business model and availability of cash resources. Therefore the directors consider it appropriate therefore to prepare the financial statements on a going concern basis.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Turnover for a project is determined by reference to the contract price and its stage of completion at a given point in time.
Revenue derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first forseen.
 

Page 3

 
FIRE SHIELD LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Office and computer equipment
-
25%
reducing balance
Other fixed assets
-
4%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
FIRE SHIELD LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.10

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.

 
2.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
FIRE SHIELD LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.17

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Software expenditure
-
4
years


3.


Employees

The average monthly number of employees, including directors, during the year was 23 (2023 - 26).

Page 6

 
FIRE SHIELD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Intangible assets




Software expenditure

£



Cost


At 1 November 2023
3,200



At 31 October 2024

3,200



Amortisation


At 1 November 2023
800


Charge for the year on owned assets
600



At 31 October 2024

1,400



Net book value



At 31 October 2024
1,800



At 31 October 2023
2,400




5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 November 2023
27,974
916
111,984
30,354
171,228



At 31 October 2024

27,974
916
111,984
30,354
171,228



Depreciation


At 1 November 2023
19,114
401
90,003
6,411
115,929


Charge for the year on owned assets
2,215
172
7,001
1,214
10,602



At 31 October 2024

21,329
573
97,004
7,625
126,531



Net book value



At 31 October 2024
6,645
343
14,980
22,729
44,697



At 31 October 2023
8,860
515
21,980
23,942
55,297

Page 7

 
FIRE SHIELD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
454,897
446,955

Other debtors
299,340
347,432

Prepayments and accrued income
41,036
40,963

Amounts recoverable on long-term contracts
665,422
714,673

1,460,695
1,550,023



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
186,487
4,428

Less: bank overdrafts
-
(141,947)

186,487
(137,519)



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
141,947

Bank loans
10,227
9,973

Trade creditors
449,128
501,963

Corporation tax
135,820
197,986

Other taxation and social security
142,470
228,728

Other creditors
45,353
48,534

Accruals and deferred income
76,013
66,364

859,011
1,195,495


The bank overdraft is secured by a fixed and floating charge over the assets of the company.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,369
21,594


Page 8

 
FIRE SHIELD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Deferred taxation




2024
2023


£

£






At beginning of year
3,698
1,913


Charged to profit or loss
(3,179)
1,785



At end of year
519
3,698

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
519
3,698


11.


Provisions



The company has made provisions against projects where there is an expectation of remedial work to be carried out.


2024

£





At 1 November 2023
50,000


Charged to profit or loss
200,000



At 31 October 2024
250,000

Page 9

 
FIRE SHIELD LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



34 (2023 - 34) Ordinary shares of £1.00 each
34
34
3 (2023 - 3) Ordinary A shares of £1.00 each
3
3
1 (2023 - 1) Ordinary B share of £1.00
1
1
34 (2023 - 34) Ordinary C shares of £1.00 each
34
34
34 (2023 - 34) Ordinary D shares of £1.00 each
34
34
1 (2023 - 1) Ordinary E share of £1.00
1
1
1 (2023 - 1) Ordinary F share of £1.00
1
1

108

108



13.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
36,000
36,000

2024
2023

£
£


Not later than 1 year
26,453
7,866

Later than 1 year and not later than 5 years
22,350
12,455

48,803
20,321


14.


Related party transactions

The Company has taken advantage of Section 33 paragraph 1A not to disclose transactions with wholly owned group members.


15.


Parent company

The parent company is Fire Shield III Ltd, a company registered in England and Wales. The registered office is: The Old Forge, The Street, Ewhurst, Surrey, United Kingdom, GU6 7QD.


Page 10