Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3129installation and maintenance of alarm systems2022-04-01false22falsetrue SC173762 2022-04-01 2023-03-31 SC173762 2023-03-31 SC173762 2021-04-01 2022-03-31 SC173762 2022-03-31 SC173762 2021-04-01 SC173762 c:Director1 2022-04-01 2023-03-31 SC173762 c:Director2 2022-04-01 2023-03-31 SC173762 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 SC173762 d:Buildings d:ShortLeaseholdAssets 2023-03-31 SC173762 d:Buildings d:ShortLeaseholdAssets 2022-03-31 SC173762 d:OfficeEquipment 2022-04-01 2023-03-31 SC173762 d:OfficeEquipment 2023-03-31 SC173762 d:OfficeEquipment 2022-03-31 SC173762 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC173762 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC173762 d:CurrentFinancialInstruments 2023-03-31 SC173762 d:CurrentFinancialInstruments 2022-03-31 SC173762 d:Non-currentFinancialInstruments 2023-03-31 SC173762 d:Non-currentFinancialInstruments 2022-03-31 SC173762 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC173762 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC173762 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC173762 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 SC173762 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 SC173762 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 SC173762 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 SC173762 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 SC173762 d:ShareCapital 2023-03-31 SC173762 d:ShareCapital 2022-03-31 SC173762 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC173762 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC173762 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 SC173762 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 SC173762 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 SC173762 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 SC173762 d:RetirementBenefitObligationsDeferredTax 2023-03-31 SC173762 d:RetirementBenefitObligationsDeferredTax 2022-03-31 SC173762 c:FRS102 2022-04-01 2023-03-31 SC173762 c:Audited 2022-04-01 2023-03-31 SC173762 c:FullAccounts 2022-04-01 2023-03-31 SC173762 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC173762 d:WithinOneYear 2023-03-31 SC173762 d:WithinOneYear 2022-03-31 SC173762 d:BetweenOneFiveYears 2023-03-31 SC173762 d:BetweenOneFiveYears 2022-03-31 SC173762 c:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 SC173762 2 2022-04-01 2023-03-31 SC173762 7 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company Registration Number SC173762























STAFFSAFE LIMITED





FINANCIAL STATEMENTS





 31 MARCH 2023























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STAFFSAFE LIMITED
REGISTERED NUMBER: SC173762

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
13,184
21,102

  
13,184
21,102

Current assets
  

Stocks
 6 
217,043
67,795

Debtors: amounts falling due within one year
 7 
645,134
648,598

Cash at bank and in hand
 8 
957,242
392,167

  
1,819,419
1,108,560

Creditors: amounts falling due within one year
 9 
(1,150,501)
(858,206)

Net current assets
  
 
 
668,918
 
 
250,354

Total assets less current liabilities
  
682,102
271,456

Creditors: amounts falling due after more than one year
 10 
(21,667)
(31,667)

  

Net assets
  
660,435
239,789


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
660,335
239,689

  
660,435
239,789


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D Atherton
................................................
P E Cullinan
Director
Director
Date: 9 October 2023
Date: 9 October 2023

The notes on pages 2 to 10 form part of these financial statements.

Page 1

 
STAFFSAFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The company is a private company limited by shares, incorporated in Scotland within the United Kingdom. The address of the registered office and principal place of business is Campbell House, The Crichton Royal Grounds, Bankend Road, Dumfries, DG1 4UQ. 
The principal activity of the company during the year was the installation and maintenance of alarm systems and the provision of a twenty four hour control centre.
The functional and presentational currency is Pounds Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 2

 
STAFFSAFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.5

Research and development

Research and development expenditure is expensed in the period in which it is incurred.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
STAFFSAFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
STAFFSAFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Tenants improvements
-
straight line over the length of the lease
Office equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

Page 5

 
STAFFSAFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.17

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Recognition of deferred tax asset
A deferred tax asset in respect of carried forward losses should only be recognised where it is probable that future taxable profits will be realised against which these losses can be offset.  Whether the company will make such taxable profits is a key judgement made in the preparation of these financial statements.
Having reviewed business performance, forecasts and future plans, the Directors have determined that it is probable that the company will make sufficient taxable profits in the future to utilise the losses and, as such, the deferred tax asset has been recognised.  However, the future performance of the company is by definition not known and uncertainty therefore remains as to the value of this asset.


4.


Employees

The average monthly number of employees, including directors, during the year was 29 (2022 - 22).

Page 6

 
STAFFSAFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Tenants imp'ments
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
32,000
195,235
227,235


Additions
-
6,841
6,841


Disposals
-
(3,553)
(3,553)



At 31 March 2023

32,000
198,523
230,523



Depreciation


At 1 April 2022
31,998
174,135
206,133


Charge for the year on owned assets
-
14,663
14,663


Disposals
-
(3,457)
(3,457)



At 31 March 2023

31,998
185,341
217,339



Net book value



At 31 March 2023
2
13,182
13,184



At 31 March 2022
2
21,100
21,102


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
217,043
67,795

217,043
67,795








 

Page 7

 
STAFFSAFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022
£
£


Trade debtors
387,981
463,402

Amounts owed by group undertakings
200,000
-

Other debtors
6,091
39,940

Prepayments and accrued income
39,863
58,797

Deferred taxation
11,199
86,459

645,134
648,598



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
957,242
392,167

957,242
392,167



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Payments received on account
561,728
463,972

Trade creditors
352,986
158,767

Amounts owed to group undertakings
-
135

Corporation tax
3,747
-

Other taxation and social security
97,719
156,506

Other creditors
8,267
9,202

Accruals and deferred income
116,054
59,624

1,150,501
858,206



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
21,667
31,667

21,667
31,667


Page 8

 
STAFFSAFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
11,667
21,667


11,667
21,667


31,667
41,667



12.


Deferred taxation




2023
2022


£

£






At beginning of year
86,459
41,637


Charged to profit or loss
(75,260)
44,822



At end of year
11,199
86,459

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,505)
(5,275)

Tax losses carried forward
13,041
91,458

Short term timing differences
663
276

11,199
86,459

Page 9

 
STAFFSAFE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £16,704 (2022 - £21,643). Contributions totalling £3,490 (2022 - £2,580) were payable to the fund at the balance sheet date.


14.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
28,354
13,191

Later than 1 year and not later than 5 years
19,066
4,402

47,420
17,593


15.


Controlling party

The company is controlled by its parent company, Positive Response Corporation Ltd by virtue of the company owning 100% of the share capital.
There is no ultimate controlling party.


16.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2023 was unqualified.

The audit report was signed on 19 October 2023 by Douglas Russell (Senior statutory auditor) on behalf of Armstrong Watson Audit Limited.


Page 10