FIRE TECHNICAL SERVICES LIMITED


Directors	E Cesare
	S J Paknoham


Registered Address	C/O Armstrong Watson 1st Floor
	One Strawberry Lane
	Newcastle Upon Tyne
	NE1 4BX


Registered Number	07486706 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Judgements and key sources of estimation uncertainty
	In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Judgements and key sources of estimation uncertainty

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Employee benefits
	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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits

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 obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	50
Plant and machinery	25	-
Vehicles	25	-
Office Equipment	25	-

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Finance leases and hire purchase contracts

Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease

Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

	Financial instruments
	Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	17		18

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 January 24	161,829	4,241	162,246	-	5,439	333,755
Additions	-	7,500	14,572	-	-	22,072
Disposals	-	-	(9,949)	-	-	(9,949)
At 31 December 24	161,829	11,741	166,869	-	5,439	345,878
Depreciation and impairment
At 01 January 24	2,967	177	65,527	2,886	-	71,557
Charge for year	3,236	1,016	23,263	638	-	28,153
On disposals	-	-	(207)	-	-	(207)
At 31 December 24	6,203	1,193	88,583	3,524	-	99,503
Net book value
At 31 December 24	155,626	10,548	78,286	(3,524)	5,439	246,375
At 31 December 23	158,862	4,064	96,719	(2,886)	5,439	262,198

4.	Stocks

	2024	2023
	£	£
Finished goods	4,000	170,731
Total	4,000	170,731

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	333,032	655,259
Other debtors	6,037	1,393
Prepayments and accrued income	151,903	4,388
Total	490,972	661,040

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	448,272	349,019
Taxation and social security	187,790	175,224
Finance lease and HP contracts	8,814	10,489
Other creditors	7,882	394,156
Accrued liabilities and deferred income	8,600	7,970
Total	661,358	936,858


	Other creditors include £nil (2023: £391,209) due to Venture Finance Plc secured by a fixed charge over the assets of the company.

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Other creditors	18,362	27,175
Total	18,362	27,175

8.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	27,175		37,664

9.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	17,107	19,982
Total	17,107	19,982

10.	Other commitments
	At 31 December 2024 the company had future minimum lease payments under non−cancellable operating leases of £4,722 (2023: £4,601).

11.	Related party transactions
	Included in other debtors in note 5 are amounts owed by the directors totalling £4,058. (2023: £261). These loans were repaid by 30 September 2025. The loans to directors are non-interest bearing and repayable on demand.

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		246,375		262,198
			246,375		262,198
Current assets
Stocks	4	4,000		170,731
Debtors	5	490,972		661,040
Cash at bank and on hand		765,786		554,392
		1,260,758		1,386,163
Creditors amounts falling due within one year	6	(661,358)		(936,858)
Net current assets (liabilities)			599,400		449,305
Total assets less current liabilities			845,775		711,503
Creditors amounts falling due after one year	7		(18,362)		(27,175)
Provisions for liabilities	9		(17,107)		(19,982)
Net assets			810,306		664,346
Capital and reserves
Called up share capital			1,200		1,200
Profit and loss account			809,106		663,146
Shareholders' funds			810,306		664,346