Smoke & Fire Curtains Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06972350 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2021

for

Smoke & Fire Curtains Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Calow

REGISTERED OFFICE:

T03 The Atkins Building

Lower Bond Street

Hinckley

Leicestershire

LE10 1QU

REGISTERED NUMBER:

06972350 (England and Wales)

ACCOUNTANTS:

Abrahamson Foster Limited

The Atkins Building

Lower Bond Street

Hinckley

Leicestershire

LE10 1QU

FIXED ASSETS

Intangible assets

4

340,000

340,000

Tangible assets

5

111,856

156,031

451,856

496,031

CURRENT ASSETS

Stocks

327,359

300,815

Debtors

6

833,702

656,593

Cash at bank and in hand

203,347

87,591

1,364,408

1,044,999

CREDITORS

Amounts falling due within one year

7

385,208

508,704

NET CURRENT ASSETS

979,200

536,295

TOTAL ASSETS LESS CURRENT LIABILITIES

1,431,056

1,032,326

CREDITORS

Amounts falling due after more than one year

8

(534,948

)

(313,885

)

PROVISIONS FOR LIABILITIES

(11,026

)

(18,165

)

NET ASSETS

885,082

700,276

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

10

339,000

339,000

Retained earnings

545,082

360,276

SHAREHOLDERS' FUNDS

885,082

700,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 October 2021 and were signed by:

A Calow - Director

1.	STATUTORY INFORMATION

Smoke & Fire Curtains 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

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on cost, 25% on reducing balance and 10% on cost

Stocks

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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2020 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2020

and 31 July 2021

340,000

NET BOOK VALUE

At 31 July 2021

340,000

At 31 July 2020

340,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2020

555,156

Additions

24,386

Disposals

(12,150

)

At 31 July 2021

567,392

DEPRECIATION

At 1 August 2020

399,125

Charge for year

68,561

Eliminated on disposal

(12,150

)

At 31 July 2021

455,536

NET BOOK VALUE

At 31 July 2021

111,856

At 31 July 2020

156,031

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2020

and 31 July 2021

12,766

DEPRECIATION

At 1 August 2020

and 31 July 2021

(7,363

)

NET BOOK VALUE

At 31 July 2021

20,129

At 31 July 2020

20,129

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade debtors

182,368

318,106

Amounts owed by group undertakings

343,801

286,410

Amounts owed by participating interests

232,838

-

Other debtors

74,695

52,077

833,702

656,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Bank loans and overdrafts

-

3,675

Hire purchase contracts

33,050

45,212

Trade creditors

205,310

284,390

Taxation and social security

(32,938

)

39,367

Other creditors

179,786

136,060

385,208

508,704

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.21

31.7.20

£

£

Bank loans

517,515

250,000

Hire purchase contracts

17,433

31,907

Other creditors

-

31,978

534,948

313,885

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.21

31.7.20

£

£

Hire purchase contracts

50,483

-

10.

RESERVES

Revaluation

reserve

£

At 1 August 2020

and 31 July 2021

339,000

11.	RELATED PARTY DISCLOSURES

As at 31st July 2021 a balance of £232,838.16 was owed to the company by Intumescent Chemicals Ltd a company registered in England & Wales & wholly owned by Arthur Calow.

As at 31st July 2021 a balance of £258,256.50 was owed to the company by Fire Curtains Group Ltd a company registered in England & Wales & wholly owned by Arthur Calow.

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is that of Fire Curtains Group Ltd, a company Registered in England & Wales.