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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 July 2017 |
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Smoke & Fire Curtains Limited |
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REGISTERED NUMBER:
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Report of the Director and |
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Unaudited Financial Statements for the Year Ended 31 July 2017 |
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for |
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Smoke & Fire Curtains Limited |
Smoke & Fire Curtains Limited (Registered number: 06972350) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2017 |
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Page |
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Company Information | 1 |
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Report of the Director | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 6 |
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Smoke & Fire Curtains Limited |
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Company Information |
for the Year Ended 31 July 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Atkins Building |
Lower Bond Street |
Hinckley |
Leicestershire |
LE10 1QU |
Smoke & Fire Curtains Limited (Registered number: 06972350) |
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Report of the Director |
for the Year Ended 31 July 2017 |
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The director presents his report with the financial statements of the company for the year ended 31 July 2017. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the manufacture and supply of fire curtains. |
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REVIEW OF BUSINESS |
The fire protection market has seen many changes over the last few years with regards to passive fire protection legislation. |
Fire Curtains Group Ltd has taken on board recent tragedies not only in the UK but worldwide, to extend our research based |
development, to offer to the industry, our unique life safety products that benefits all application types and scenarios. |
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During our trading year 2016/2107 we have invested over £220,000.00 on ideas to create world leading technologies, two of |
our products have now been proven to be unique in the market. |
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First, our vision panel system (RES-Q Window ™) this product alone reduces the risk to life, it is the first of its kind, fully |
tested for fire resistance and with the aid of the clear view vision window, allows for the first time ever, firefighters and/or |
First Responders to be able to see if there are survivors behind a fire curtain before deciding whether to attempt a rescue, |
whilst still providing a fire protection barrier to prevent smoke and fire penetrating to other areas of the dwelling or high rise |
building. It allows for areas of refuge during a fire or other emergency, when evacuation may not be safe or possible, the |
potential for this product design has many advantages. |
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Our see-through fire-proof flexible fabric technology has now attracted a few interested parties and we hope to confirm a |
suitable partner, to develop and market this world leading technology into its own separate industry. |
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The Thermal Insulated curtain, a true insulation value protective curtain barrier. We have seen a few types on the market, |
with larger headboxes thicker fabrics and large side guide retainers, which are unsuitable for certain applications types. We |
have developed a system that is much more suited for the industry, providing fire resistance, integrity, irradiance and of |
course Ei Thermal insulation, to reduce the thermal heat flux and create a safe tenability zone for occupants to pass on |
protective main routes of escape. |
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Our India joint venture is very successful and is now the leading Indian Sub-Continent and possibly Middle East |
manufacturing plant, for standard and see-through fire curtains. |
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South Africa. We no-longer are involved with this joint venture as we had the wrong trading partner, but this was at a cost of |
nearly £74,000 to us. The Group have also invested in other joint ventures, in the Middle East and in Europe. |
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Over the 2016 -2017 financial year we have reduced our bottom line profits by over £300,000.00 but we are a growing and |
developing business and will continue to develop new products and concepts for the fire safety industry. |
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DIRECTOR |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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Smoke & Fire Curtains Limited (Registered number: 06972350) |
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Income Statement |
for the Year Ended 31 July 2017 |
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31.7.17 | 31.7.16 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT | 4 |
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Interest payable and similar expenses |
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PROFIT BEFORE TAXATION |
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Tax on profit | ( |
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PROFIT FOR THE FINANCIAL YEAR |
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Smoke & Fire Curtains Limited (Registered number: 06972350) |
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Balance Sheet |
31 July 2017 |
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31.7.17 | 31.7.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks | 7 |
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Debtors | 8 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 10 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act
2006 and |
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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. |
Smoke & Fire Curtains Limited (Registered number: 06972350) |
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Balance Sheet - continued |
31 July 2017 |
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The financial statements were approved by the director on
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Smoke & Fire Curtains Limited (Registered number: 06972350) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2017 |
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1. | STATUTORY INFORMATION |
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Smoke & Fire Curtains Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
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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. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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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. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Smoke & Fire Curtains Limited (Registered number: 06972350) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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31.7.17 | 31.7.16 |
£ | £ |
Depreciation - owned assets |
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Goodwill amortisation |
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 August 2016 |
and 31 July 2017 |
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AMORTISATION |
At 1 August 2016 |
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Amortisation for year |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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Smoke & Fire Curtains Limited (Registered number: 06972350) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2016 |
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Additions |
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At 31 July 2017 |
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DEPRECIATION |
At 1 August 2016 |
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Charge for year |
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At 31 July 2017 |
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NET BOOK VALUE |
At 31 July 2017 |
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At 31 July 2016 |
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7. | STOCKS |
31.7.17 | 31.7.16 |
£ | £ |
Stocks |
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Work-in-progress |
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8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Directors' loan accounts | 11,837 | - |
VAT |
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Prepayments |
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Smoke & Fire Curtains Limited (Registered number: 06972350) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax | ( |
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Social security and other taxes |
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VAT | - | 26,424 |
Other creditors |
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Directors' loan accounts | - | 2,714 |
Accruals and deferred income |
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Accrued expenses |
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A Corporation Tax refund has been generated due to R&D Tax Credits. |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.7.17 | 31.7.16 |
£ | £ |
Bank loans - 1-2 years |
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Other loans - 1-2 years |
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Hire purchase contracts |
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Accruals and deferred income |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 July 2017 and 31 July 2016: |
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31.7.17 | 31.7.16 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by Fire Curtains Group Limited, who owns 100% of the issued share capital. |