Registered number
11492433
SP Safer Solutions Ltd
Filleted Accounts
31 July 2023
SP Safer Solutions Ltd
Registered number: 11492433
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 36,978 5,554
Current assets
Debtors 4 9,113 20,087
Cash at bank and in hand 25,812 24,546
34,925 44,633
Creditors: amounts falling due within one year 5 (11,744) (10,700)
Net current assets 23,181 33,933
Total assets less current liabilities 60,159 39,487
Creditors: amounts falling due after more than one year 6 (27,793) -
Provisions for liabilities (7,025) (1,055)
Net assets 25,341 38,432
Capital and reserves
Called up share capital 100 100
Profit and loss account 25,241 38,332
Shareholder's funds 25,341 38,432
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Simon Pullin
Director
Approved by the board on 9 October 2023
SP Safer Solutions Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor Vehicle 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 12,220 - 12,220
Additions - 43,750 43,750
At 31 July 2023 12,220 43,750 55,970
Depreciation
At 1 August 2022 6,666 - 6,666
Charge for the year 1,389 10,937 12,326
At 31 July 2023 8,055 10,937 18,992
Net book value
At 31 July 2023 4,165 32,813 36,978
At 31 July 2022 5,554 - 5,554
4 Debtors 2023 2022
£ £
Trade debtors 8,033 14,787
Other debtors 1,080 5,300
Taxation and social security costs
9,113 20,087
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 3,786 -
Directors' loan account 4,949 1,889
Taxation and social security costs 2,319 8,211
Other creditors 690 600
11,744 10,700
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 27,793 -
7 Other information
SP Safer Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
New Down House
78a Down Road
Portishead
BS20 8DA
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