Total Protection (Fire & Sealing Solutio - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08454812 (England and Wales)

Financial Statements

for the Year Ended 31st March 2023

for

TOTAL PROTECTION (FIRE & SEALING

SOLUTIONS) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M J Morley

SECRETARY:

Mr G J Raven

REGISTERED OFFICE:

Barrons Limited, Monometer House

Rectory Grove

Leigh on Sea

Essex

SS9 2HL

REGISTERED NUMBER:

08454812 (England and Wales)

SENIOR STATUTORY AUDITOR:

Ian Harris FCA

AUDITORS:

CBHC Limited Statutory Auditors

Suite 3, First Floor

Steeple House

Church Lane

Chelmsford

Essex

CM1 1NH

FIXED ASSETS

Tangible assets

4

57,820

73,712

CURRENT ASSETS

Stocks

86,415

169,118

Debtors

5

1,788,074

1,598,833

Cash at bank and in hand

4,262

40,136

1,878,751

1,808,087

CREDITORS

Amounts falling due within one year

6

1,366,174

1,220,914

NET CURRENT ASSETS

512,577

587,173

TOTAL ASSETS LESS CURRENT LIABILITIES

570,397

660,885

CREDITORS

Amounts falling due after more than one year

7

(37,063

)

(50,049

)

PROVISIONS FOR LIABILITIES

(7,558

)

(8,039

)

NET ASSETS

525,776

602,797

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

525,676

602,697

SHAREHOLDERS' FUNDS

525,776

602,797

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th December 2023 and were signed by:

Mr M J Morley - Director

1.	STATUTORY INFORMATION

Total Protection (Fire & Sealing Solutions) Ltd 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

The turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before the revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

-

the Company has transferred the significant risks and rewards of ownership to the buyer;

-

the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

-

the amount of revenue can be measured reliably;

-

it is probable that the Company will receive the consideration due under the transaction; and

-

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

-

the amount of revenue can be measured reliably;

-

it is probable that the Company will receive the consideration due under the contract;

-

the stage of completion of the contract at the end of the reporting period can be measured reliably; and

-

the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and Machinery etc.

- 25% Straight line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If Stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2022

198,331

Additions

23,960

At 31st March 2023

222,291

DEPRECIATION

At 1st April 2022

124,619

Charge for year

39,852

At 31st March 2023

164,471

NET BOOK VALUE

At 31st March 2023

57,820

At 31st March 2022

73,712

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,620,959

1,395,872

Other debtors

167,115

202,961

1,788,074

1,598,833

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

11,076

10,801

Hire purchase contracts (see note 8)

17,087

19,258

Trade creditors

336,362

238,161

Amounts owed to group undertakings

81,509

187,767

Taxation and social security

49,548

90,832

Other creditors

870,592

674,095

1,366,174

1,220,914

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

22,257

32,533

Hire purchase contracts (see note 8)

14,806

17,516

37,063

50,049

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023

2022

£

£

Net obligations repayable:

Within one year

17,087

19,258

Between one and five years

14,806

17,516

31,893

36,774

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

33,333

43,334

Hire purchase contracts

31,893

36,774

Invoice finance

360,157

211,342

425,383

291,450

The hire purchase liability is secured against the assets to which they relate.

The bank loan is secured by the Bounce Bank Loan Scheme provided by the government during the coronavirus outbreak.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Harris FCA (Senior Statutory Auditor)

for and on behalf of CBHC Limited Statutory Auditors

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year the invoices were received for goods and services from a company with common directors and shareholders totalling £21,500 (2022: £29,975).

During the year the invoices were raised for goods to a company with common directors and shareholders totalling £Nil (2022: £4,000).

12.	ULTIMATE PARENT COMPANY

Total Protection (Holdings) Limited is the ultimate parent company for the current and preceding year due to its shareholding in the company. Total Protection (Holdings) Limited prepares consolidated financial statements and these may be obtained from their registered office at Monometer House, Rectory Grove, Leigh on Sea, Essex, SS9 2HL.