REGISTERED NUMBER: 02663857 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

STRUCTURAL FIREPROOFING SYSTEMS LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J B O'Hagan

D Wilson

SECRETARY:

J B O'Hagan

REGISTERED OFFICE:

Hagan House

6 Mill Way

Old Mill Lane Industrial Estate

Mansfield Woodhouse

Nottinghamshire

NG19 9BG

REGISTERED NUMBER:

02663857 (England and Wales)

ACCOUNTANTS:

Marriott Gibbs Rees Wallis Limited

Chartered Certified Accountants

First Floor

Unit 4, Broadfield Court

Sheffield

South Yorkshire

S8 0XF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

28,994

29,689

28,994

29,689

CURRENT ASSETS

Stocks

29,552

24,939

Debtors

6

998,780

1,237,706

Cash at bank and in hand

940,786

622,824

1,969,118

1,885,469

CREDITORS

Amounts falling due within one year

7

382,293

346,140

NET CURRENT ASSETS

1,586,825

1,539,329

TOTAL ASSETS LESS CURRENT LIABILITIES

1,615,819

1,569,018

PROVISIONS FOR LIABILITIES

6,795

6,869

NET ASSETS

1,609,024

1,562,149

CAPITAL AND RESERVES

Called up share capital

750

750

Capital redemption reserve

300

300

Retained earnings

1,607,974

1,561,099

SHAREHOLDERS' FUNDS

1,609,024

1,562,149

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.

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 24 September 2025 and were signed on its behalf by:

D Wilson - Director

1.	STATUTORY INFORMATION

Structural Fireproofing Systems Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress is stated at the lower of cost or net realisable value.

Contractual activities

Amounts recoverable on contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Profit on individual contracts is taken only when their outcome can be foreseen with reasonable certainty and is based on the value of work performed less expenditure incurred to the year end, taking account of agreed claims. Full provision is made for all known or expected losses on individual contracts, taking a prudent view of future claims income, immediately such losses are foreseen.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 8 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

and 31 December 2024

5,500

AMORTISATION

At 1 January 2024

and 31 December 2024

5,500

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

35,631

5,625

10,250

14,471

65,977

Additions

5,057

-

-

666

5,723

Disposals

(3,775

)

-

-

(524

)

(4,299

)

At 31 December 2024

36,913

5,625

10,250

14,613

67,401

DEPRECIATION

At 1 January 2024

19,707

3,421

4,557

8,603

36,288

Charge for year

2,801

331

1,423

1,511

6,066

Eliminated on disposal

(3,578

)

-

-

(369

)

(3,947

)

At 31 December 2024

18,930

3,752

5,980

9,745

38,407

NET BOOK VALUE

At 31 December 2024

17,983

1,873

4,270

4,868

28,994

At 31 December 2023

15,924

2,204

5,693

5,868

29,689

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

779,658

268,267

Amounts recoverable on contracts

52,711

142,985

Other debtors

62,246

45,629

Directors' current accounts

-

691,773

VAT

46,245

51,612

940,860

1,200,266

Amounts falling due after more than one year:

Trade debtors

57,920

37,440

Aggregate amounts

998,780

1,237,706

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Payments on account

50,222

20,851

Trade creditors

229,929

145,014

Corporation tax

57,154

91,383

Social security and other taxes

21,943

70,659

Other creditors

15,408

16,806

Directors' current accounts

7,637

1,427

382,293

346,140

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

19,125

20,514

Between one and five years

21,323

32,305

40,448

52,819

9.	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

£

£

J B O'Hagan

Balance outstanding at start of year

691,773

-

Amounts advanced

5,404

697,519

Amounts repaid

(697,177

)

(5,746

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

691,773