FIREMARK_LIMITED - Accounts

FIREMARK LTD - Company Information

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Company Registration No. 06299361 (England and Wales)

FIREMARK LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

FIREMARK LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 6

FIREMARK LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

70,330

64,063

Investments

100

70,430

64,163

Current assets

Stocks

260,598

235,154

Debtors

904,191

776,578

Cash at bank and in hand

4,601

1,164,845

1,016,333

Creditors: amounts falling due within one year

(875,823)

(976,352)

Net current assets

289,022

39,981

Total assets less current liabilities

359,452

104,144

Provisions for liabilities

(6,164)

353,288

104,144

Capital and reserves

Called up share capital

347,079

507,079

Profit and loss account

6,209

(402,935)

Shareholders' funds

353,288

104,144

FIREMARK LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MAY 2016

- 2 -

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 29 September 2016

Mr D P Lamb

Director

Company Registration No. 06299361

FIREMARK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company meets its day to day working capital requirements through the use of an overdraft facility. The director is not aware of any reasons why this facility will not be maintained at its current level.

The director considers that in preparing the financial statements, he has taken into account all the information that could reasonably be expected to be available.

On this basis, he considers that it is appropriate to prepare the financial statements on the going concern basis.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of ten years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance

Fixtures, fittings, computers and firemarks

25% reducing balance

Motor vehicles

25% reducing balance

1.6

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.7

Stock

Stocks are valued at the lower of cost and net realisable value after making due allowances for slow moving and obsolete items.

Cost represents all expenditure incurred in bringing stock to its present location and condition at the accounting date.

Net realisable value is based on the estimated selling prices less further costs expected to be incurred to completion and disposal.

1.8

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

FIREMARK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

Accounting policies

(Continued)

- 4 -

1.9

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.10

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.11

Foreign currency translation

FIREMARK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 5 -

Fixed assets

Intangible assets

Tangible assets

Investments

Total

Cost

At 1 June 2015

127,387

153,895

100

281,382

Additions

36,897

Disposals

(18,500)

At 31 May 2016

127,387

172,292

100

299,779

Depreciation

At 1 June 2015

127,387

89,832

217,219

On disposals

(5,096)

Charge for the year

17,226

At 31 May 2016

127,387

101,962

229,349

Net book value

At 31 May 2016

70,330

100

70,430

At 31 May 2015

64,063

100

64,163

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Firemark Extinguishers Limited

England and Wales

Ordinary

100.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Firemark Extinguishers Limited

Dormant

FIREMARK LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 6 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £360,621 (2015 - £498,688).

Share capital

2016

2015

Allotted, called up and fully paid

10,000 Ordinary shares of 10p each

1,000

346,079 Preference shares of £1 each

346,079

506,079

347,079

507,079

During the year the company redeemed 160,000 £1 preference shares at par value.

The company's preference shares carry no voting rights or dividend rights.

On a return of capital on liquidation or otherwise the assets of the company remaining after the payment of its liabilities are to be applied first by paying the holders of the preference shares the sum of one pound per share. The balance of the remaining assets is to be distributed among the holders of the ordinary shares on a pro-rata basis. The company may redeem the preference shares at such time as the director determines.