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REGISTERED NUMBER: 11052157 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

RAILSAFE LIMITED

RAILSAFE LIMITED (REGISTERED NUMBER: 11052157)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAILSAFE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2021







DIRECTOR: M D Loughnane





REGISTERED OFFICE: 1st Floor Commerce House
1 Raven Road
South Woodford
London
E18 1HB





REGISTERED NUMBER: 11052157 (England and Wales)

RAILSAFE LIMITED (REGISTERED NUMBER: 11052157)

BALANCE SHEET
30 NOVEMBER 2021

2021 2020
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 14,530 9,422

CURRENT ASSETS
Debtors 5 23,978 16,045
Cash at bank 5,156 26,404
29,134 42,449
CREDITORS
Amounts falling due within one year 6 14,627 11,561
NET CURRENT ASSETS 14,507 30,888
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,037

40,310

CREDITORS
Amounts falling due after more than one year 7 (14,450 ) (18,333 )

PROVISIONS FOR LIABILITIES (2,761 ) (1,790 )
NET ASSETS 11,826 20,187

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,726 20,087
11,826 20,187

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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.

RAILSAFE LIMITED (REGISTERED NUMBER: 11052157)

BALANCE SHEET - continued
30 NOVEMBER 2021


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 September 2022 and were signed by:





M D Loughnane - Director


RAILSAFE LIMITED (REGISTERED NUMBER: 11052157)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1. STATUTORY INFORMATION

Railsafe Limited is a private company, limited by shares, registered in England & Wales. The company's registered number is 11052157 and the registered office address is 1st Floor Commerce House, 1 Raven Road, South Woodford, London, E18 1HB.

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.
Plant and machinery etc - 25% on cost and 25% on reducing balance

Government grants
The company obtained a Bounce Back Loan from its bank of £19,950. The loan is supported by a Government guarantee of up to 80 % of the loan and the first year's interest is also met by the Government. This interest is recorded in the profit or loss in the period that it is payable.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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


RAILSAFE LIMITED (REGISTERED NUMBER: 11052157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021

2. ACCOUNTING POLICIES - continued

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and preference shares classed as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

Equity Instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

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.


RAILSAFE LIMITED (REGISTERED NUMBER: 11052157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021

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.

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.

Going concern
In making his assessment of the company as a going concern, the director has considered the impact of Covid-19 on the business and is confident that the company has mitigated the effect of Covid-19 and has sufficient liquidity to see it well in to the future.

The director considers it appropriate to continue using the going concern basis in the preparation of the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 December 2020 15,650
Additions 9,949
At 30 November 2021 25,599
DEPRECIATION
At 1 December 2020 6,228
Charge for year 4,841
At 30 November 2021 11,069
NET BOOK VALUE
At 30 November 2021 14,530
At 30 November 2020 9,422

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 13,776 1,500
Amounts recoverable on contract 820 5,000
Other debtors 9,382 9,545
23,978 16,045

RAILSAFE LIMITED (REGISTERED NUMBER: 11052157)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Bank loans and overdrafts 3,900 1,617
Taxation and social security 9,197 8,124
Other creditors 1,530 1,820
14,627 11,561

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£ £
Bank loans 14,450 18,333

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2021 and 30 November 2020:

2021 2020
£ £
M D Loughnane
Balance outstanding at start of year 9,544 -
Amounts advanced 9,382 9,544
Amounts repaid (9,544 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,382 9,544