REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
SAFETYCULTURE (UK) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
SAFETYCULTURE (UK) LIMITED |
SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SAFETYCULTURE (UK) LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Herschel House |
58 Herschel Street |
Slough |
Berkshire |
SL1 1PG |
SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705) |
BALANCE SHEET |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Other reserves | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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 |
SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
SafetyCulture (UK) Limited is a |
The trading address of the company is 12-14 Lever Street, Manchester, M1 1LN |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are prepared on the going concern basis as the directors have received confirmation that ongoing financial support from group companies will continue for at least 12 months and 1 day following the sign off of the audit report. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Critical accounting judgements and key sources of estimation uncertainty |
With regard to the accounting policies adopted by the company, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily available from other sources. Such estimates are based on historical experience and other relevant factors and may differ from actual results. All estimates, and associated underlying assumptions, are reviewed on an ongoing basis. |
Turnover |
Turnover is calculated to generate a margin in line with transfer pricing agreements and recharged to the parent entity. |
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 - Straight line over 3 - 7 years |
Leasehold Improvements - Straight line over 5 years |
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. |
SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
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. |
Foreign currencies |
Financial assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Financial instruments |
Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any Other Financial Instruments, as covered by Section 12 of FRS 102. |
Share based payments scheme |
The company participates in a group share-based payment plan, and recognises and measures its share based payment expense on the basis of a reasonable allocation of the expense recognised for the group. The allocation is based on the number of employees benefiting from the share-based payment plan employed by each group entity. The share based payment expense is recognised in the income statement as an expense with a corresponding credit to other reserves.The share based payments are equity settled. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
VAT |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors & accruals |
SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
30.6.23 | 30.6.22 |
£ | £ |
Within one year |
Between one and five years |
8. | PROVISIONS FOR LIABILITIES |
30.6.23 | 30.6.22 |
£ | £ |
Deferred tax | 21,524 | 48,254 |
Deferred |
tax |
£ |
Balance at 1 July 2022 |
Credit to Income Statement during year | ( |
) |
Balance at 30 June 2023 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.23 | 30.6.22 |
value: | £ | £ |
Ordinary Shares | £1 | 100 | 100 |
10. | RESERVES |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 1 July 2022 | 1,993,628 |
Profit for the year |
Charge for the year |
At 30 June 2023 | 2,535,701 |
Other reserves relates entirely to share options. |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
SAFETYCULTURE (UK) LIMITED (REGISTERED NUMBER: 11007705) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 June 2023 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 - continued |
We would like to draw your attention to the following statement contained within our audit report as included within the full financial statements:- |
"Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed." |
12. | ULTIMATE PARENT COMPANY |
The immediate and ultimate parent company is SafetyCulture Pty Ltd, a company incorporated at 72 Foveaux Street, Surry Hills, NSW 2010, Australia. SafetyCulture Pty Ltd is the largest and only group company to prepare consolidated financial statements. |