TP FIRE & SECURITY MANAGEMENT LTD

TP FIRE & SECURITY MANAGEMENT LTD - Company Information

2023-04-012024-03-312024-03-31false09765686TP FIRE & SECURITY MANAGEMENT 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Registered Number
09765686
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

TP FIRE & SECURITY MANAGEMENT LTD

Company Information
for the year from 1 April 2023 to 31 March 2024


Director	MORRISON, Ian Grant


Registered Address	Mainline House Roudham Industrial Estate
	East Harling
	Norwich
	NR16 2SN


Registered Number	09765686 (England and Wales)

TP FIRE & SECURITY MANAGEMENT LTD

Balance Sheet as at
31 March 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		316,270		194,792
			316,270		194,792
Current assets
Debtors	4,5	597,526		726,641
Cash at bank and on hand		100,074		35,634
		697,600		762,275
Creditors amounts falling due within one year	6	(303,015)		(509,450)
Net current assets (liabilities)			394,585		252,825
Total assets less current liabilities			710,855		447,617
Creditors amounts falling due after one year	7		(268,137)		(185,762)
Provisions for liabilities			(92,000)		(48,615)
Net assets			350,718		213,240
Capital and reserves
Called up share capital			800		800
Profit and loss account			349,918		212,440
Shareholders' funds			350,718		213,240

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 25 April 2024, and are signed on its behalf by:

MORRISON, Ian Grant
Director
Registered Company No. 09765686

TP FIRE & SECURITY MANAGEMENT LTD

Notes to the Financial Statements
for the year ended 31 March 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	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 policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Current taxation
	Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Current taxation

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

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.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's
principal activity for the production and supply of goods or for administrative purposes and is stated in
the balance sheet under the historic cost model. This model requires the assets to be stated at cost less
amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is
calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected
amount that would currently be obtained from disposal of an asset, after deducting the estimated costs
of disposal, if the asset were already of the age and in the condition expected at the end of its useful
life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Fixtures and fittings	-	5
Vehicles	20	-
Office Equipment	-	4

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	8		9

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 23	194,792
	Additions	199,627
	At 31 March 24	316,270
	Depreciation and impairment
	Charge for year	78,149
	Net book value
	At 31 March 24	316,270
	At 31 March 23	194,792

4.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	404,001	520,327
Other debtors	170,001	7,172
Prepayments and accrued income	23,524	199,142
Total	597,526	726,641

5.	Debtors: amounts due after one year

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	11,376	241,009
Bank borrowings and overdrafts	10,000	10,000
Taxation and social security	205,307	224,889
Finance lease and HP contracts	66,709	33,552
Other creditors	3,711	-
Accrued liabilities and deferred income	5,912	-
Total	303,015	509,450

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	15,781	26,667
Other creditors	252,356	159,095
Total	268,137	185,762

8.	Obligations under finance leases

		2024		2023
		£		£
	Finance lease and HP contracts	252,357		159,095

9.	Operating lease commitments
	At 31 March 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £130,358. (2023 – £118,764).

10.	Directors advances, credits and guarantees
	There were no advances or credits to a director during the years ended 31 March 2024 and 31 March 2023.

11.	Share capital
	Allotted, issued and fully paid: Number: Class: Nominal 31.3.24 31.3.23 value: 800 Ordinary £1 £800 £800

12.	Related party transactions
	During the financial year the company invoiced TP Fire & Security Limited £1,077,987 excluding VAT (2023: £841,081) included in sales for management and other services. At the balance sheet date the company was owed £83,645 including VAT (2023: £494,892) by TP Fire & Security Limited included in trade debtors due within one year. Also during the financial year the company purchased services from TP Fire & Security Limited totalling £756,692 excluding VAT (2023: £113,519) included in cost of sales. At the balance sheet date the company owed £nil (2023: £nil) to TP Fire & Security Limited. Mr I G Morrison (director) is a significant shareholder of TP Fire & Security Limited. The following amounts were owed by shareholders to the company at the balance sheet date for cash advances: PT Young £4,000 (2023: £100) and IG Morrison Consulting Ltd £141,001 (2023: £112,402). All the balances brought forward were cleared with dividends during the financial year. Mr I G Morrison (director) is also a director and shareholder of IG Morrison Consulting Ltd.

12.

Related party transactions

During the financial year the company invoiced TP Fire & Security Limited £1,077,987 excluding VAT
(2023: £841,081) included in sales for management and other services. At the balance sheet date the
company was owed £83,645 including VAT (2023: £494,892) by TP Fire & Security Limited included in
trade debtors due within one year.

Also during the financial year the company purchased services from TP Fire & Security Limited totalling
£756,692 excluding VAT (2023: £113,519) included in cost of sales. At the balance sheet date the
company owed £nil (2023: £nil) to TP Fire & Security Limited.

Mr I G Morrison (director) is a significant shareholder of TP Fire & Security Limited.

The following amounts were owed by shareholders to the company at the balance sheet date for cash
advances: PT Young £4,000 (2023: £100) and IG Morrison Consulting Ltd £141,001 (2023: £112,402).
All the balances brought forward were cleared with dividends during the financial year. 

Mr I G Morrison (director) is also a director and shareholder of IG Morrison Consulting Ltd.

13.	Controlling party
	The controlling party is I G Morrison. No single or connected persons or entities ultimately control the company.