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REGISTERED NUMBER: 08714223 (England and Wales)












COALFIRE SYSTEMS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






COALFIRE SYSTEMS LIMITED (REGISTERED NUMBER: 08714223)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COALFIRE SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: T T McAndrew
M E B Chandler





REGISTERED OFFICE: 4 Studley Court
Guildford Road
Chobham
Woking
Surrey
GU24 8EB





REGISTERED NUMBER: 08714223 (England and Wales)





AUDITORS: Hopper Williams & Bell Limited
Statutory Auditor
Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR

COALFIRE SYSTEMS LIMITED (REGISTERED NUMBER: 08714223)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 334,719 392,065

CURRENT ASSETS
Debtors 5 989,618 833,004
Cash at bank 41,225 51,306
1,030,843 884,310
CREDITORS
Amounts falling due within one year 6 (414,063 ) (383,558 )
NET CURRENT ASSETS 616,780 500,752
TOTAL ASSETS LESS CURRENT
LIABILITIES

951,499

892,817

CREDITORS
Amounts falling due after more than one year 7 (67,483 ) (81,695 )

PROVISIONS FOR LIABILITIES (15,971 ) (18,360 )
NET ASSETS 868,045 792,762

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Capital contribution reserve 41,269 41,269
Retained earnings 825,776 750,493
868,045 792,762

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2025 and were signed on its behalf by:





M E B Chandler - Director


COALFIRE SYSTEMS LIMITED (REGISTERED NUMBER: 08714223)

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


1. STATUTORY INFORMATION

Coalfire 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 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover comprises cost incurred during the year plus a 5% management charge to Coalfire Systems Inc. Turnover is recognised in the month the costs to which it relates were brought in.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - Over the length of the lease
Office Equipment - Straight line over 3 years
Furniture & Fixtures - Straight line over 5 years
Computer equipment - Straight line over 3 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


COALFIRE SYSTEMS LIMITED (REGISTERED NUMBER: 08714223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Share-based payments
Share based payments are disclosed within the capital contribution reserve. Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the statement of comprehensive income over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each statement of financial position date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. As long as all other vesting conditions are satisfied, a charge is made irrespective of whether the market vesting conditions are satisfied. The cumulative expense is not adjusted for failure to achieve a market condition.

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to the statement of comprehensive income over the remaining vesting period.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating Leases
Rentals under operating leases are charged to the income statement on a straight line basis over the lease term.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

COALFIRE SYSTEMS LIMITED (REGISTERED NUMBER: 08714223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Improvements Office Furniture & Computer
to property Equipment Fixtures equipment Totals
£ £ £ £ £
COST
At 1 January 2024 450,478 28,627 134,090 96,856 710,051
Additions - - - 35,571 35,571
At 31 December 2024 450,478 28,627 134,090 132,427 745,622
DEPRECIATION
At 1 January 2024 131,854 26,505 76,711 82,916 317,986
Charge for year 47,793 2,122 25,501 17,501 92,917
At 31 December 2024 179,647 28,627 102,212 100,417 410,903
NET BOOK VALUE
At 31 December 2024 270,831 - 31,878 32,010 334,719
At 31 December 2023 318,624 2,122 57,379 13,940 392,065

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed by group undertakings 928,801 756,547
Other debtors 60,817 76,457
989,618 833,004

COALFIRE SYSTEMS LIMITED (REGISTERED NUMBER: 08714223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 18,729 9,162
Taxation and social security 102,099 136,207
Other creditors 293,235 238,189
414,063 383,558

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 67,483 81,695

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 125,595 146,458
Between one and five years 29,466 111,422
155,061 257,880

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Flood (FCA) (Senior Statutory Auditor)
for and on behalf of Hopper Williams & Bell Limited

10. ULTIMATE CONTROLLING PARTY

The directors regard Coalfire Systems, Inc., a company incorporated under the laws of the state of Delaware, USA, to be the immediate and ultimate parent undertaking by virtue of holding 100% of the issued shares and being the largest group for which consolidated accounts are available. A copy of the consolidated financial statements can be obtained from Coalfire Systems, Inc., 330 N Wabash Ave, Suite 1430, Chicago, IL 60611, United States.

In the opinion of the directors there is no ultimate controlling party.