AF Protection Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 8

AF Protection Limited

(Registration number: 10071531)
Statement of Financial Position as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	370,370	132,399
Current assets
Stocks		19,166	12,060
Debtors	5	819,523	1,387,080
Cash at bank and in hand		939,481	896,728
		1,778,170	2,295,868
Creditors: Amounts falling due within one year	6	(1,040,897)	(1,146,133)
Net current assets		737,273	1,149,735
Total assets less current liabilities		1,107,643	1,282,134
Creditors: Amounts falling due after more than one year	6	(21,246)	(35,633)
Provisions for liabilities		(43,089)	(24,573)
Net assets		1,043,308	1,221,928
Capital and reserves
Called up share capital		87	87
Capital redemption reserve		30	30
Profit and loss account		1,043,191	1,221,811
Shareholders' funds		1,043,308	1,221,928

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 1 August 2026 and signed on its behalf by:
 

P B Duggan Company secretary and director

AF Protection Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
High Park Office Catchfrench
Trerulefoot
Saltash
Cornwall
PL12 5BY

Principal activity

The principal activity of the company is passive fire protection services

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

AF Protection Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Changes in accounting estimate

Motor vehicle depreciation

The motor vehicle depreciation policy has been changed from 3 year straight line to 4 year reducing balance to more accurately reflect the useful life of these vehicles.

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

AF Protection Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Leasehold land and buildings	Straight line over the term of the lease
Plant and equipment	33.3% straight line basis
Computers	33.3% straight line basis
Motor vehicles	25% reducing balance

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

AF Protection Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2025 - 12).

AF Protection Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

4	Tangible assets

	Land and buildings £	Plant and machinery £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	4,900	16,106	47,781	505,218	574,005
Additions	-	636	16,579	329,292	346,507
Disposals	-	-	-	(295,741)	(295,741)
At 31 March 2026	4,900	16,742	64,360	538,769	624,771
Depreciation
At 1 April 2025	4,900	14,541	42,864	379,301	441,606
Charge for the year	-	1,094	4,450	62,344	67,888
Eliminated on disposal	-	-	-	(255,093)	(255,093)
At 31 March 2026	4,900	15,635	47,314	186,552	254,401
Carrying amount
At 31 March 2026	-	1,107	17,046	352,217	370,370
At 31 March 2025	-	1,565	4,917	125,917	132,399

5

Debtors

	2026 £	2025 £
Trade debtors	578,061	1,155,493
Other debtors	214,544	214,546
Prepayments	26,918	17,041
	819,523	1,387,080

AF Protection Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Loans and borrowings	8,857	25,941
Trade creditors	91,960	165,255
Amounts owed to group undertakings and undertakings in which the company has a participating interest	135,485	-
Taxation and social security	450,174	417,714
Accruals and deferred income	354,421	537,223
	1,040,897	1,146,133

Included within loans and borrowings are obligations under hire purchase agreements of £8,857 (2025: £25,941) which are secured on the assets to which they relate.

Creditors: amounts falling due after more than one year

	2026 £	2025 £
Loans and borrowings	21,246	35,633

Included within loans and borrowings are obligations under hire purchase agreements of £21,246 (2025: £35,633) which are secured on the assets to which they relate.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2026 £	2025 £
Not later than one year	24,279	6,000
Later than one year and not later than five years	24,779	12,500
	49,058	18,500

AF Protection Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

8	Obligations under leases and hire purchase contracts (continued)

The amount of non-cancellable operating lease payments recognised as an expense during the year was £24,787 (2025 - £6,000).

9	Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of contingencies not included in the statement of financial position is £58,000 (2025 - £Nil).

10	Related party transactions

Transactions with directors

2026	At 1 April 2025 £	Advances to director £	Repayments by director £	At 31 March 2026 £
Directors	160,407	21,265	(21,265)	160,407

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Directors	46,504	128,256	(14,353)	160,407

Summary of transactions with associates

At the year end the company owed £135,485 (2025 - £nil) to companies under common control of the directors.