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REGISTERED NUMBER: SC396030 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Safetygrip Solutions Ltd

Safetygrip Solutions Ltd (Registered number: SC396030)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Safetygrip Solutions Ltd

Company Information
for the Year Ended 31 March 2022







DIRECTOR: M Watt





REGISTERED OFFICE: Unit 1 Cairnrobin Pipeyard
Marywell, Portlethen
Aberdeen
Aberdeenshire
AB12 4SB





REGISTERED NUMBER: SC396030 (Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
Aberdeenshire
AB41 9LJ

Safetygrip Solutions Ltd (Registered number: SC396030)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 51,074 43,226

CURRENT ASSETS
Stocks 134,438 59,520
Debtors 5 177,299 137,118
Cash at bank 88,334 100,959
400,071 297,597
CREDITORS
Amounts falling due within one year 6 106,858 99,597
NET CURRENT ASSETS 293,213 198,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

344,287

241,226

PROVISIONS FOR LIABILITIES - 10,380
NET ASSETS 344,287 230,846

CAPITAL AND RESERVES
Called up share capital 12 12
Retained earnings 344,275 230,834
SHAREHOLDERS' FUNDS 344,287 230,846

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

Safetygrip Solutions Ltd (Registered number: SC396030)

Balance Sheet - continued
31 March 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 September 2022 and were signed by:





M Watt - Director


Safetygrip Solutions Ltd (Registered number: SC396030)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Safetygrip Solutions Ltd is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% 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.

Hire purchase and leasing commitments
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 10 (2021 - 8 ) .

Safetygrip Solutions Ltd (Registered number: SC396030)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2021 42,544 136,661 179,205
Additions - 27,887 27,887
At 31 March 2022 42,544 164,548 207,092
DEPRECIATION
At 1 April 2021 42,544 93,435 135,979
Charge for year - 20,039 20,039
At 31 March 2022 42,544 113,474 156,018
NET BOOK VALUE
At 31 March 2022 - 51,074 51,074
At 31 March 2021 - 43,226 43,226

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 143,296 123,783
Other debtors 34,003 13,335
177,299 137,118

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 781 -
Hire purchase contracts 1,401 6,684
Trade creditors 52,110 82,849
Taxation and social security 46,951 5,330
Other creditors 5,615 4,734
106,858 99,597

7. RELATED PARTY DISCLOSURES

During the year the director Mark Watt advanced the company net amounts totalling £706. This amount remained outstanding at 31/03/2022 and is included within other creditors in the notes to the accounts.