Pyrotect Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03640421 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Pyrotect Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Morgan

Mrs M J Mee

C Goodison

G L Fieldsend

SECRETARY:

S Goodison

REGISTERED OFFICE:

Unit F1

Tom Bill Way

Ashby de la Zouch

Leicestershire

LE65 2UY

REGISTERED NUMBER:

03640421 (England and Wales)

ACCOUNTANTS:

Clayton & Brewill

Chartered Accountants

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

FIXED ASSETS

Property, plant and equipment

4

158,003

154,756

CURRENT ASSETS

Inventories

5

113,486

79,459

Debtors

6

4,024,859

4,376,099

Prepayments and accrued income

60,233

48,817

Cash at bank and in hand

2,316,675

1,745,253

6,515,253

6,249,628

CREDITORS

Amounts falling due within one year

7

503,590

401,425

NET CURRENT ASSETS

6,011,663

5,848,203

TOTAL ASSETS LESS CURRENT LIABILITIES

6,169,666

6,002,959

PROVISIONS FOR LIABILITIES

(18,364

)

(14,702

)

ACCRUALS AND DEFERRED INCOME

(67,912

)

(88,381

)

NET ASSETS

6,083,390

5,899,876

CAPITAL AND RESERVES

Called up share capital

5,301

5,301

Share premium

19,609

19,609

Other reserves

300

300

Retained earnings

6,058,180

5,874,666

SHAREHOLDERS' FUNDS

6,083,390

5,899,876

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2021 and were signed on its behalf by:

C Goodison - Director

1.	STATUTORY INFORMATION

Pyrotect Limited 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.

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

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

Tangible fixed assets

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

Freehold property

-

2% of cost or valuation

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Payments in respect of other post-retirement benefits 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 29 (2019 - 29 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2020

18,521

36,422

53,701

185,589

294,233

Additions

-

-

595

58,077

58,672

Disposals

-

-

-

(17,668

)

(17,668

)

At 31 December 2020

18,521

36,422

54,296

225,998

335,237

DEPRECIATION

At 1 January 2020

741

25,298

38,322

75,116

139,477

Charge for year

711

2,773

3,981

42,368

49,833

Eliminated on disposal

-

-

-

(12,076

)

(12,076

)

At 31 December 2020

1,452

28,071

42,303

105,408

177,234

NET BOOK VALUE

At 31 December 2020

17,069

8,351

11,993

120,590

158,003

At 31 December 2019

17,780

11,124

15,379

110,473

154,756

5.	INVENTORIES

2020

2019

£

£

Stocks

99,342

58,767

Work-in-progress

14,144

20,692

113,486

79,459

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,020,532

1,348,147

Amounts owed by group undertakings

2,954,118

2,924,118

Other debtors

8,312

87,513

Directors' current accounts

41,897

16,321

4,024,859

4,376,099

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

293,333

241,177

Tax

13,689

-

Social security and other taxes

33,011

37,989

VAT

156,878

118,324

Other creditors

6,679

3,935

503,590

401,425

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

2020

2019

£

£

C Goodison

Balance outstanding at start of year

16,321

22,140

Amounts advanced

26,095

-

Amounts repaid

(520

)

(5,819

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

41,896

16,321

9.	RELATED PARTY DISCLOSURES

At the 31st December 2020 the company is owed £2,954,118 to Pyrotect Holdings Limited (2019: £2,924,118) and paid management charges for recharged expenses and costs of £600,000 (2019 £600,000).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Pyrotect Holdings Limited.