1 November 2021 false No description of principal activity Taxfiler 2023.10 12974878business:PrivateLimitedCompanyLtd2021-11-012022-10-31 129748782021-10-31 129748782021-11-012022-10-31 12974878business:AuditExemptWithAccountantsReport2021-11-012022-10-31 12974878business:FilletedAccounts2021-11-012022-10-31 129748782022-10-31 129748782021-10-31 12974878core:WithinOneYear2022-10-31 12974878core:WithinOneYear2021-10-31 12974878core:AfterOneYear2022-10-31 12974878core:AfterOneYear2021-10-31 12974878core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 12974878core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-10-31 12974878core:PreviouslyStatedAmount2022-10-31 12974878core:PreviouslyStatedAmount2021-10-31 12974878business:SmallEntities2021-11-012022-10-31 12974878business:Director12021-11-012022-10-31 12974878countries:EnglandWales2021-11-012022-10-31 12974878business:RegisteredOffice2021-11-012022-10-31 12974878core:PlantMachinery2021-11-012022-10-31 12974878core:MotorVehicles2021-11-012022-10-31 12974878core:PlantMachinery2021-10-31 12974878core:MotorVehicles2021-10-31 12974878core:PlantMachinery2022-10-31 12974878core:MotorVehicles2022-10-31 129748782020-11-012021-10-31 iso4217:GBP xbrli:pure
SafenetUk Ltd Statement of financial position as at 31 October 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
112,498 
71,488 
Current assets
Debtors
178,087 
13,053 
Cash at bank and in hand
4,912 
17,988 
182,999 
31,041 
Creditors: amounts falling due within one year
14,356 
(22,094)
Net current assets
197,355 
8,947 
Total assets less current liabilities
309,853 
80,435 
Creditors: amounts falling due after more than one year
(56,000)
(74,000)
Net assets
253,853 
6,435 
Capital and reserves
Profit and loss account
253,853 
6,435 
Shareholders' funds
253,853 
6,435 
For the year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 October 2023 and were signed on its behalf by
Ian Harrison Director Company Registration No. 12974878
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SafenetUk Ltd Notes to the Accounts for the year ended 31 October 2022
1
Statutory information
SafenetUk Ltd is a private company, limited by shares, registered in England and Wales, registration number 12974878. The registered office is 13 VAENOR STREET, ABERYSTWYTH, SY23 2EN, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Motor vehicles
20%
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2021
75,360 
14,000 
89,360 
Additions
12,180 
53,524 
65,704 
At 31 October 2022
87,540 
67,524 
155,064 
Depreciation
At 1 November 2021
15,072 
2,800 
17,872 
Charge for the year
13,044 
11,650 
24,694 
At 31 October 2022
28,116 
14,450 
42,566 
Net book value
At 31 October 2022
59,424 
53,074 
112,498 
At 31 October 2021
60,288 
11,200 
71,488 
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SafenetUk Ltd Notes to the Accounts for the year ended 31 October 2022
5
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
Trade debtors
134,185 
13,053 
Other debtors
43,902 
- 
178,087 
13,053 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
VAT
(35,067)
- 
Trade creditors
19,511 
18,662 
Other creditors
- 
3,432 
Accruals
1,200 
- 
(14,356)
22,094 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Other creditors
56,000 
74,000 
8
Average number of employees
During the year the average number of employees was 1 (2021: 1).
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