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Registered number: 01937708
Franco Fire Detection Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 01937708
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 68,869 74,183
68,869 74,183
CURRENT ASSETS
Stocks 5 64,002 58,782
Debtors 6 92,716 80,137
Cash at bank and in hand 38,964 56,372
195,682 195,291
Creditors: Amounts Falling Due Within One Year 7 (158,445 ) (221,184 )
NET CURRENT ASSETS (LIABILITIES) 37,237 (25,893 )
TOTAL ASSETS LESS CURRENT LIABILITIES 106,106 48,290
Creditors: Amounts Falling Due After More Than One Year 8 (140,387 ) (20,833 )
NET (LIABILITIES)/ASSETS (34,281 ) 27,457
CAPITAL AND RESERVES
Called up share capital 100 149
Capital redemption reserve 49 (49 )
Profit and Loss Account (34,430 ) 27,357
SHAREHOLDERS' FUNDS (34,281) 27,457
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Crummack
Director
25 April 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Capital Redemption Profit and Loss Account Total
£ £ £ £
As at 1 December 2022 149 (49 ) 218 318
Profit for the year and total comprehensive income - - 43,928 43,928
Dividends paid - - (16,789) (16,789)
As at 30 November 2023 and 1 December 2023 149 (49 ) 27,357 27,457
Loss for the year and total comprehensive income - - (61,787 ) (61,787)
Share capital reduction - 98 - 98
As at 30 November 2024 100 49 (34,430 ) (34,281)
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Page 4
Notes to the Financial Statements
1. General Information
Franco Fire Detection Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 01937708 . The registered office is Fern Lodge, 4 Chapel Road, Manchester, Lancashire, M22 4JW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity
2.2. Going Concern Disclosure
The directors have assessed the going concern concept in relation to these financial statements and consider that the accounts should be prepared on a going concern basis. This conclusion has been reached based upon the company having access to sufficent funds to be able to meet its liabilites and obligations as they fall due for at least twelve months from approving these financial statements.
2.3. Turnover
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.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% straight line
Motor Vehicles 12.5% straight line
Computer Equipment 20% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 14)
14 14
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost or Valuation
As at 1 December 2023 9,407 178,544 - 187,951
Additions 290 - 1,042 1,332
Disposals - (14,728 ) - (14,728 )
Revaluation - 11,900 - 11,900
As at 30 November 2024 9,697 175,716 1,042 186,455
Depreciation
As at 1 December 2023 9,407 104,361 - 113,768
Provided during the period - 18,546 - 18,546
Disposals - (14,728 ) - (14,728 )
As at 30 November 2024 9,407 108,179 - 117,586
Net Book Value
As at 30 November 2024 290 67,537 1,042 68,869
As at 1 December 2023 - 74,183 - 74,183
5. Stocks
2024 2023
£ £
Stock 64,002 58,782
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Page 6
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 92,716 80,137
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,370
Trade creditors 31,506 7,336
Bank loans and overdrafts 10,000 10,000
Other creditors 92,254 159,956
Taxation and social security 24,685 42,522
158,445 221,184
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,833 20,833
Other creditors 129,554 -
140,387 20,833
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,370
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