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COMPANY REGISTRATION NUMBER: 01905818

Daemon Fire & Security Limited

Filleted Financial Statements

31 August 2024

Daemon Fire & Security Limited

Financial Statements

Year ended 31 August 2024

Contents | Page

Statement of financial position | 1

Notes to the financial statements | 3

Daemon Fire & Security Limited

Statement of Financial Position

31 August 2024

| 2024 | 2023
Note | £ | £ | £

Fixed assets

Tangible assets | 6 |  | 75,295 | 65,168

Current assets

Stocks | 95,148 |  | 98,000
Debtors | 7 | 9,087,769 |  | 8,442,581
Cash at bank and in hand | 276,849 |  | 190,023
| ------------ |  | ------------
| 9,459,766 |  | 8,730,604

Creditors: amounts falling due within one year | 8 | 3,786,414 |  | 3,140,202
| ------------ |  | ------------
Net current assets |  | 5,673,352 | 5,590,402
|  | ------------ | ------------
Total assets less current liabilities |  | 5,748,647 | 5,655,570

Creditors: amounts falling due after more than one year | 9 |  | 371,179 | 824,476

Provisions

Taxation including deferred tax |  | 7,065 | ( 2,280)
|  | ------------ | ------------
Net assets |  | 5,370,403 | 4,833,374
|  | ------------ | ------------

Capital and reserves

Called up share capital |  | 5,000 | 5,000
Capital redemption reserve |  | 5,000 | 5,000
Profit and loss account |  | 5,360,403 | 4,823,374
|  | ------------ | ------------
Shareholders funds |  | 5,370,403 | 4,833,374
|  | ------------ | ------------

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 income and retained earnings has not been delivered.
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.

Daemon Fire & Security Limited

Statement of Financial Position (continued)

31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 1 September 2025 , and are signed on behalf of the board by:

Mr S R Wootton | Mr M A H Kachingwe
Director | Director

Company registration number: 01905818

Daemon Fire & Security Limited

Notes to the Financial Statements

Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bk5 Business Park, Quartz Close, Tamworth, Staffs, B77 4GR, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Going concern
The directors have considered going concern with particular reference to the amounts owed to the company by other group companies. The directors have received confirmation of support from the other companies in the group and the group has also received confirmation from the ultimate shareholder that they will continue to support the entity to meet its liabilities as they fall due. The directors have no reason to believe that this will not be received, if required, and continue to prepare the accounts on this basis.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Ilektra Limited as at 31st August 2024 which can be obtained from 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Disclosures in respect of share-based payments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel. These exemptions have been applied on the basis that Ilektra Limited includes equivalent disclosures for Daemon Fire and Security Limited in its consolidated financial statements prepared in accordance with UK GAAP.
Judgements and key sources of estimation uncertainty
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.
Revenue recognition
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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Website development costs | - | 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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 | - | 25% reducing balance
| Fixtures and Fittings | - | 15% reducing balance
| Motor vehicles | - | 25% reducing balance
| Office Equipment | - | 25% reducing balance

Impairment of fixed assets
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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 as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 45 (2023: 26 ).
5. Intangible assets

| Development costs
| £
Cost |
At 1 September 2023 and 31 August 2024 | 3,978
| -------
Amortisation |
At 1 September 2023 and 31 August 2024 | 3,978
| -------
Carrying amount |
At 31 August 2024 | –
| -------
At 31 August 2023 | –
| -------

6. Tangible assets

| Plant and machinery | Fixtures and fittings | Motor vehicles | Equipment | Total
| £ | £ | £ | £ | £
Cost |  |  |  |  |
At 1 September 2023 | 87,664 | 55,191 | 52,794 | – | 195,649
Additions | – | 3,218 | 40,645 | 1,950 | 45,813
Disposals | – | – | ( 32,995) | – | ( 32,995)
| -------- | -------- | -------- | ------- | ---------
At 31 August 2024 | 87,664 | 58,409 | 60,444 | 1,950 | 208,467
| -------- | -------- | -------- | ------- | ---------
Depreciation |  |  |  |  |
At 1 September 2023 | 81,634 | 21,472 | 27,375 | – | 130,481
Charge for the year | 1,508 | 5,058 | 14,822 | 121 | 21,509
Disposals | – | – | ( 18,818) | – | ( 18,818)
| -------- | -------- | -------- | ------- | ---------
At 31 August 2024 | 83,142 | 26,530 | 23,379 | 121 | 133,172
| -------- | -------- | -------- | ------- | ---------
Carrying amount |  |  |  |  |
At 31 August 2024 | 4,522 | 31,879 | 37,065 | 1,829 | 75,295
| -------- | -------- | -------- | ------- | ---------
At 31 August 2023 | 6,030 | 33,719 | 25,419 | – | 65,168
| -------- | -------- | -------- | ------- | ---------

Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

| Motor vehicles
| £
At 31 August 2024 | 32,177
| --------
At 31 August 2023 | –
| --------

7. Debtors

| 2024 | 2023
| £ | £
Trade debtors | 1,546,970 | 1,939,588
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 6,413,485 | 6,443,512
Other debtors | 1,127,314 | 59,481
| ------------ | ------------
| 9,087,769 | 8,442,581
| ------------ | ------------

Included in trade debtors is £1,546,970 (2023: £1,402,506) of book debts purchased by IGF Business Credit Ltd. The factor has full recourse on the company for unpaid debts.
8. Creditors: amounts falling due within one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 1,353,750 | 1,402,506
Trade creditors | 863,454 | 1,307,416
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 424,176 | 17,988
Corporation tax | 250,632 | 72,605
Social security and other taxes | 731,666 | 310,099
Other creditors | 162,736 | 29,588
| ------------ | ------------
| 3,786,414 | 3,140,202
| ------------ | ------------

The company has a charge, both fixed and floating, as security against its liabilities. IGF Invoice Finance Limited (Charge number: 0436 2960 0001), a fixed charge over the property owned by Daemon Fire & Security Ltd, all land vested in or charged to the owner including all Fixtures and Fittings and rents receivable, all plant & machinery including any associated warranties and maintenance contracts, all the goodwill of the owner's business, any uncalled capital, all stock, shares and other securities held by the owner or by a subsidiary of the owner all intellectual property, licenses, claims, insurance policies, proceeds of any insurance and any other legal rights. Charge number 0436 2960 0001 also contains a floating charge over all of the other property, assets and right of Daemon Fire & Security Ltd which are not subject to a fixed charge by any party. The balance due at the period end is £1,342,522 (2023: £1,680,284), of which £1,153,634 is due within one year and £188,888 due after one year. Barclays Security Trustee Limited (Charge number: 0190 5818 0005), a fixed charge over the property owned by Daemon Fire & Security Ltd, all land vested in or charged to the owner including all Fixtures and Fittings and rents receivable, all plant & machinery including any associated warranties and maintenance contracts, all the goodwill of the owner's business, any uncalled capital, all stock, shares and other securities held by the owner or by a subsidiary of the owner all intellectual property, licenses, claims, insurance policies, proceeds of any insurance and any other legal rights. Charge number 0190 5818 0005 also contains a floating charge over all of the other property, assets and right of Daemon Fire & Security Ltd which are not subject to a fixed charge by any party. The balance due at the period end is £366,783 (2023: £546,698).Barclays Security Trustee Limited (Charge number 01905818 005), a fixed charge over the property owned by Daemon Fire & Security Limited , all land vested in or charged to the owner including all Fixtures and Fittings and rents receivable
9. Creditors: amounts falling due after more than one year

| 2024 | 2023
| £ | £
Bank loans and overdrafts | 355,556 | 824,476
Other creditors | 15,623 | –
| --------- | ---------
| 371,179 | 824,476
| --------- | ---------

10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2024 | 2023
| £ | £
Not later than 1 year | 272,145 | 93,279
Later than 1 year and not later than 5 years | 576,957 | 168,094
Later than 5 years | 43,685 | –
| --------- | ---------
| 892,787 | 261,373
| --------- | ---------

11. Contingencies
The company has a contingent liability of £1,304,974 relating to consolidated group debt to the group's factoring providers.
12. Summary audit opinion
The auditor's report dated 1 September 2025 was unqualified .
The senior statutory auditor was Richard Stewart FCA , for and on behalf of Burgess Hodgson Audit Limited .
13. Directors' advances, credits and guarantees
During the year a director was advanced £2,289 (2023- nil) which was the balance owed by the director at the year end. Interest was not charged on this loan.
14. Related party transactions
Related party transactions with group companies have not been disclosed as consolidated accounts are prepared by the parent entity.
15. Controlling party
The immediate parent of the company is Eberbach Limited. The ultimate parent and controlling party, and the parent of both the largest and smallest group for which consolidated accounts are available, is Ilektra Limited. Both companies are registered at Camburgh House, 27 New Dover Road, Canterbury, England, CT1 3DN.
16. Post balance sheet events
In November 2024, the group refinanced all of its cashflow loan facilities, resulting in a simplified capital structure, with capacity to draw on additional funding to support future acquisitions.