Pace Fire Risk Assessments Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Pace Fire Risk Assessments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06985000 . The registered office and principal place of business is Bryn Awel, Tanygrisiau, Gwynedd, LL41 3TE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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 presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable for services provided, net of value added tax and any trade discounts.

Rendering of services

Turnover represents income earned from the company’s activities of fire risk assessmenst. Turnover is recognised when the company satisfies its performance obligations by providing the agreed services.

2.3. 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:

Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine

whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the

recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the

asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

2.4. Leasing and Hire Purchase Contracts

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not

made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread

on a straight-line basis over the lease term.

2.5. 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.

...CONTINUED

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Pace Fire Risk Assessments Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.5. Taxation - continued

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.

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Differences between contributions payable in the period and contributions actually paid are either shown as other creditors or other debtors in the balance sheet.

2.7. Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting

would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful

debts.

2.8. Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the

effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

2.9. Cash and cash equivalents

Cash and cash equivalents comprise cash at bank. Bank borrowings are included in creditors.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 8)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 December 2024	11,233	12,861	4,534	28,628
Additions	-	645	1,744	2,389
Disposals	-	(9,233 )	(349 )	(9,582 )

As at 30 November 2025	11,233	4,273	5,929	21,435

Depreciation
As at 1 December 2024	1,725	9,520	2,067	13,312
Provided during the period	2,377	997	1,053	4,427
Disposals	-	(8,598 )	(256 )	(8,854 )

As at 30 November 2025	4,102	1,919	2,864	8,885

Net Book Value
As at 30 November 2025	7,131	2,354	3,065	12,550

As at 1 December 2024	9,508	3,341	2,467	15,316

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Pace Fire Risk Assessments Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	495,908	131,590
Other debtors	3,350	6,061

	499,258	137,651

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	275,660	155,744
Bank loans and overdrafts	5,975	5,829
Other creditors	6,948	34,153
Taxation and social security	220,478	197,480

	509,061	393,206

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	21,979	27,932

8. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
480 Ordinary A shares of £ 1.00 each	480	490
480 Ordinary B shares of £ 1.00 each	480	490
20 Ordinary C shares of £ 1.00 each	20	20
20 Ordinary D shares of £ 1.00 each	20	-

	1,000	1,000

During the year, the shareholders approved the redesignation of both 10 Ordinary A and 10 Ordinary B shares of £1 each into 20 Ordinary D shares of £1 each. The redesignation did not alter the total issued share capital of the company or the aggregate value of shareholders' funds.

9. Other Commitments

The total of future minimum lease payments under non-cancellable motor vehicle operating leases are as following:

	2025	2024
	£	£
Not later than one year	8,801	-
Later than one year and not later than five years	6,867	-

	15,668	-

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Pace Fire Risk Assessments Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

10. Directors Advances, Credits and Guarantees

Included within creditors (debtors in the prior year) are the following loans to directors:

	As at 1 December 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 November 2025
	£	£	£	£	£
Ms Kim Woodhead	(1,811 )	276,327	280,159	-	2,021

The above loan is unsecured, interest free and repayable on demand.

11. Controlling Party

The company's controlling party is Miss K Woodhead & Mr D Totty by virtue of their joint ownership of 96% of the issued share capital in the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		12,550		15,316

			12,550		15,316
CURRENT ASSETS
Debtors	5	499,258		137,651
Cash at bank and in hand		46,786		287,549

		546,044		425,200
Creditors: Amounts Falling Due Within One Year	6	(509,061 )		(393,206 )

NET CURRENT ASSETS (LIABILITIES)			36,983		31,994

TOTAL ASSETS LESS CURRENT LIABILITIES			49,533		47,310

Creditors: Amounts Falling Due After More Than One Year	7		(21,979 )		(27,932 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,035 )		(2,349 )

NET ASSETS			25,519		17,029

CAPITAL AND RESERVES
Called up share capital	8		1,000		1,000
Profit and Loss Account			24,519		16,029

SHAREHOLDERS' FUNDS			25,519		17,029