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REGISTERED NUMBER: SC396030 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Safetygrip Solutions Ltd

Safetygrip Solutions Ltd (Registered number: SC396030)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Safetygrip Solutions Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M Watt
S McWilliam





REGISTERED OFFICE: Unit 1 Cairnrobin Pipeyard
Marywell, Portlethen
Aberdeen
Aberdeenshire
AB12 4SB





REGISTERED NUMBER: SC396030 (Scotland)





ACCOUNTANTS: J M Taylor
7 Ythan Terrace
Ellon
Aberdeenshire
AB41 9LJ

Safetygrip Solutions Ltd (Registered number: SC396030)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,354 51,074

CURRENT ASSETS
Stocks 91,416 134,438
Debtors 5 191,257 177,299
Cash at bank 74,197 88,334
356,870 400,071
CREDITORS
Amounts falling due within one year 6 88,047 106,858
NET CURRENT ASSETS 268,823 293,213
TOTAL ASSETS LESS CURRENT
LIABILITIES

315,177

344,287

CAPITAL AND RESERVES
Called up share capital 12 12
Retained earnings 315,165 344,275
SHAREHOLDERS' FUNDS 315,177 344,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Safetygrip Solutions Ltd (Registered number: SC396030)

Balance Sheet - continued
31 March 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2023 and were signed on its behalf by:





M Watt - Director


Safetygrip Solutions Ltd (Registered number: SC396030)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Safetygrip Solutions Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

Safetygrip Solutions Ltd (Registered number: SC396030)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 42,544 164,548 207,092
Additions - 16,708 16,708
Disposals - (6,000 ) (6,000 )
At 31 March 2023 42,544 175,256 217,800
DEPRECIATION
At 1 April 2022 42,544 113,474 156,018
Charge for year - 20,676 20,676
Eliminated on disposal - (5,248 ) (5,248 )
At 31 March 2023 42,544 128,902 171,446
NET BOOK VALUE
At 31 March 2023 - 46,354 46,354
At 31 March 2022 - 51,074 51,074

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 153,331 143,296
Other debtors 37,926 34,003
191,257 177,299

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts - 781
Hire purchase contracts - 1,401
Trade creditors 36,037 52,110
Taxation and social security 45,123 46,951
Other creditors 6,887 5,615
88,047 106,858

7. RELATED PARTY DISCLOSURES

During the year the director Mark Watt advanced the company net amounts totalling £706. This amount remained outstanding at 31/03/2023 and is included within other creditors in the notes to the accounts.