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REGISTERED NUMBER: 02032016 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2022

FOR

SAFEFLOWER LIMITED

SAFEFLOWER LIMITED (REGISTERED NUMBER: 02032016)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 FEBRUARY 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SAFEFLOWER LIMITED

COMPANY INFORMATION
for the year ended 28 FEBRUARY 2022







DIRECTORS: S A Stafford
Mrs E L Stafford



SECRETARY: S A Stafford



REGISTERED OFFICE: 73 Swans Reach
Falmouth
Cornwall
TR11 5GG



REGISTERED NUMBER: 02032016 (England and Wales)



ACCOUNTANTS: Graham Barber Accountancy Limited
4 Beaufort West
Bath
BA1 6QB



BANKERS: TSB Bank plc
Frome
Somerset

SAFEFLOWER LIMITED (REGISTERED NUMBER: 02032016)

ABRIDGED BALANCE SHEET
28 FEBRUARY 2022

2022 2021
Notes £    £   
CURRENT ASSETS
Stocks - 189
Debtors - 133
Cash at bank and in hand 5,508 17,478
5,508 17,800
CREDITORS
Amounts falling due within one year (2,534 ) (7,286 )
NET CURRENT ASSETS 2,974 10,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,974

10,514

CAPITAL AND RESERVES
Called up share capital 22,002 22,002
Retained earnings (19,028 ) (11,488 )
SHAREHOLDERS' FUNDS 2,974 10,514

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SAFEFLOWER LIMITED (REGISTERED NUMBER: 02032016)

ABRIDGED BALANCE SHEET - continued
28 FEBRUARY 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 September 2022 and were signed on its behalf by:





S A Stafford - Director


SAFEFLOWER LIMITED (REGISTERED NUMBER: 02032016)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 FEBRUARY 2022

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company has ceased trading and the directors are taking steps to close the company.

Turnover and expenses
Turnover represents net invoiced sales of goods and services. Expenses are stated gross including irrecoverable VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

SAFEFLOWER LIMITED (REGISTERED NUMBER: 02032016)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 FEBRUARY 2022

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2021
and 28 February 2022 2,033
DEPRECIATION
At 1 March 2021
and 28 February 2022 2,033
NET BOOK VALUE
At 28 February 2022 -
At 28 February 2021 -

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2022 and 28 February 2021:

2022 2021
£    £   
S A Stafford and Mrs E L Stafford
Balance outstanding at start of year (6,835 ) (1,467 )
Amounts advanced 4,898 -
Amounts repaid - (5,368 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,937 ) (6,835 )

The loans made to the company by the directors (denoted by figures in brackets) are interest free.