Registered number
02393883
Safety Screens Limited
Unaudited Filleted Accounts
30 June 2023
Safety Screens Limited
Registered number: 02393883
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,035,270 1,072,508
Investments 4 4,500 4,500
1,039,770 1,077,008
Current assets
Stocks 620,237 591,118
Debtors 5 592,062 557,846
Cash at bank and in hand 67,686 31,960
1,279,985 1,180,924
Creditors: amounts falling due within one year 6 (364,740) (438,974)
Net current assets 915,245 741,950
Total assets less current liabilities 1,955,015 1,818,958
Creditors: amounts falling due after more than one year 7 (38,691) (22,174)
Provisions for liabilities (19,775) (7,432)
Net assets 1,896,549 1,789,352
Capital and reserves
Called up share capital 50,000 50,000
Share premium 14,998 14,998
Revaluation reserve 9 274,254 310,629
Capital redemption reserve 2 2
Profit and loss account 1,557,295 1,413,723
Shareholders' funds 1,896,549 1,789,352
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
N H Shatwell
Director
Approved by the board on 2 November 2023
Safety Screens Limited
Notes to the Accounts
for the year ended 30 June 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 over 5 years
Motor vehicles over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 16 17
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 996,405 131,071 216,906 1,344,382
Additions - - 70,480 70,480
Disposals (75,000) - (36,145) (111,145)
At 30 June 2023 921,405 131,071 251,241 1,303,717
Depreciation
At 1 July 2022 - 131,071 140,803 271,874
Charge for the year - - 26,605 26,605
On disposals - - (30,032) (30,032)
At 30 June 2023 - 131,071 137,376 268,447
Net book value
At 30 June 2023 921,405 - 113,865 1,035,270
At 30 June 2022 996,405 - 76,103 1,072,508
Freehold land and buildings: 2023 2022
£ £
Historical cost 647,151 685,776
Cumulative depreciation based on historical cost - -
647,151 685,776
The directors review the carrying value of previously revalued properties on an annual basis. At the balance sheet date the directors have adjusted the carrying value as shown above.
No provision for taxation is made in respect of amounts transferred to or from the revaluation reserve.
4 Investments
Other
investments
£
Cost
At 1 July 2022 4,500
At 30 June 2023 4,500
5 Debtors 2023 2022
£ £
Trade debtors 550,727 552,019
Other debtors 41,335 5,827
592,062 557,846
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 35,564 27,004
Trade creditors 169,841 197,373
Taxation and social security costs 80,744 33,452
Other creditors 78,591 181,145
364,740 438,974
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 38,691 22,174
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans - 148,335
The above loans are secured by fixed and floating charges over all property and undertaking of the company.
9 Revaluation reserve 2023 2022
£ £
At 1 July 2022 310,629 310,629
Loss on revaluation of land and buildings (36,375) -
At 30 June 2023 274,254 310,629
10 Other information
Safety Screens Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11
Greenfield Farm Trading Estate
Greenfield Road
Congleton
Cheshire
CW12 4TR
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