Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30true2022-07-0117truefalseManufacture of metal structures and parts of structures18The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05331313 2022-07-01 2023-06-30 05331313 2021-07-01 2022-06-30 05331313 2023-06-30 05331313 2022-06-30 05331313 2021-07-01 05331313 c:Director3 2022-07-01 2023-06-30 05331313 d:Buildings 2022-07-01 2023-06-30 05331313 d:PlantMachinery 2022-07-01 2023-06-30 05331313 d:PlantMachinery 2023-06-30 05331313 d:PlantMachinery 2022-06-30 05331313 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05331313 d:MotorVehicles 2022-07-01 2023-06-30 05331313 d:MotorVehicles 2023-06-30 05331313 d:MotorVehicles 2022-06-30 05331313 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05331313 d:FurnitureFittings 2022-07-01 2023-06-30 05331313 d:FurnitureFittings 2023-06-30 05331313 d:FurnitureFittings 2022-06-30 05331313 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05331313 d:ComputerEquipment 2022-07-01 2023-06-30 05331313 d:ComputerEquipment 2023-06-30 05331313 d:ComputerEquipment 2022-06-30 05331313 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05331313 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05331313 d:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 05331313 d:PatentsTrademarksLicencesConcessionsSimilar 2022-06-30 05331313 d:Goodwill 2023-06-30 05331313 d:Goodwill 2022-06-30 05331313 d:CurrentFinancialInstruments 2023-06-30 05331313 d:CurrentFinancialInstruments 2022-06-30 05331313 d:Non-currentFinancialInstruments 2023-06-30 05331313 d:Non-currentFinancialInstruments 2022-06-30 05331313 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05331313 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 05331313 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 05331313 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 05331313 d:ShareCapital 2023-06-30 05331313 d:ShareCapital 2022-06-30 05331313 d:RetainedEarningsAccumulatedLosses 2023-06-30 05331313 d:RetainedEarningsAccumulatedLosses 2022-06-30 05331313 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 05331313 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 05331313 c:OrdinaryShareClass1 2022-07-01 2023-06-30 05331313 c:OrdinaryShareClass1 2023-06-30 05331313 c:OrdinaryShareClass1 2022-06-30 05331313 c:FRS102 2022-07-01 2023-06-30 05331313 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 05331313 c:FullAccounts 2022-07-01 2023-06-30 05331313 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05331313 d:WithinOneYear 2023-06-30 05331313 d:WithinOneYear 2022-06-30 05331313 d:BetweenOneFiveYears 2023-06-30 05331313 d:BetweenOneFiveYears 2022-06-30 05331313 6 2022-07-01 2023-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05331313









SAFETY DEVICES INTERNATIONAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
SAFETY DEVICES INTERNATIONAL LIMITED
REGISTERED NUMBER: 05331313

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
1
1

Tangible assets
 5 
143,848
186,960

Investments
 6 
-
482,054

  
143,849
669,015

CURRENT ASSETS
  

Stocks
  
615,156
456,890

Debtors: amounts falling due within one year
 7 
788,438
466,542

Cash at bank and in hand
  
352,002
252,558

  
1,755,596
1,175,990

Creditors: amounts falling due within one year
 8 
(956,091)
(585,197)

NET CURRENT ASSETS
  
 
 
799,505
 
 
590,793

TOTAL ASSETS LESS CURRENT LIABILITIES
  
943,354
1,259,808

Creditors: amounts falling due after more than one year
 9 
(174,107)
(225,581)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 10 
(18,305)
(25,371)

  
 
 
(18,305)
 
 
(25,371)

NET ASSETS
  
750,942
1,008,856


CAPITAL AND RESERVES
  

Called up share capital 
 11 
1,000
1,000

Profit and loss account
  
749,942
1,007,856

  
750,942
1,008,856


Page 1

 
SAFETY DEVICES INTERNATIONAL LIMITED
REGISTERED NUMBER: 05331313
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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: 




Mr A Lloyd
Director

Date: 16 November 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
SAFETY DEVICES INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


GENERAL INFORMATION

Safety Devices International Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Cambridge House, Holborn Avenue, Mildenhall, Suffolk, IP28 7AN.

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.

 
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.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of manufacture and resale of safety equipment to the motor sport and automotive trades and associated services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
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 costs are written off to the Profit and Loss account as they are incurred.

 
2.6

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Page 3

 
SAFETY DEVICES INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.9

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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

 
SAFETY DEVICES INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.10
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis:.

Depreciation is provided on the following basis:

Freehold property
-
over 50 years and 20% straight line
Plant and machinery
-
20% reducing balance
Motor vehicles
-
33% straight line
Fixtures and fittings
-
20% straight line
Computer equipment
-
20% 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.

 
2.11

VALUATION OF INVESTMENTS

Investments held as fixed assets are shown at cost less provision for impairment.

 
2.12

STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowances for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work in progress and finished goods include labour and attributable overheads.

 
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.

Page 5

 
SAFETY DEVICES INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.16

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 17 (2022 - 18).


4.


INTANGIBLE ASSETS




Patents
Goodwill
Total

£
£
£



COST


At 1 July 2022
20,001
215,000
235,001



At 30 June 2023

20,001
215,000
235,001



AMORTISATION


At 1 July 2022
20,000
215,000
235,000



At 30 June 2023

20,000
215,000
235,000



NET BOOK VALUE



At 30 June 2023
1
-
1



At 30 June 2022
1
-
1



Page 6

 
SAFETY DEVICES INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



COST OR VALUATION


At 1 July 2022
344,661
94,239
567
50,319
489,786


Additions
14,397
-
154
1,376
15,927


Disposals
(42,755)
-
-
(21,889)
(64,644)



At 30 June 2023

316,303
94,239
721
29,806
441,069



DEPRECIATION


At 1 July 2022
200,391
61,984
223
40,228
302,826


Charge for the year on owned assets
29,285
14,335
113
3,007
46,740


Disposals
(30,734)
-
-
(21,611)
(52,345)



At 30 June 2023

198,942
76,319
336
21,624
297,221



NET BOOK VALUE



At 30 June 2023
117,361
17,920
385
8,182
143,848



At 30 June 2022
144,270
32,255
344
10,091
186,960


6.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies

£





At 1 July 2022
482,054


Disposals
(482,054)



At 30 June 2023
-




Page 7

 
SAFETY DEVICES INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


DEBTORS

2023
2022
£
£


Trade debtors
755,604
353,449

Amounts owed by group undertakings
-
72,000

Other debtors
4,071
11,978

Prepayments and accrued income
28,763
29,115

788,438
466,542



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank overdrafts
-
2

Bank loans
51,474
51,234

Trade creditors
186,917
271,399

Amounts owed to group undertakings
452,946
139,000

Corporation tax
89,607
-

Other taxation and social security
127,153
12,414

Other creditors
1,987
76,900

Accruals and deferred income
46,007
34,248

956,091
585,197


Bank loans includes a Government backed 'Bounce Back' Loan of £9,808 (2022: £9,565) which was drawn down in March 2021. This loan is 100% guaranteed by the Government and there were no fees or interest payable in the first twelve months. After twelve months, interest is charged at 2.5% per annum.
The Company also took out a Recovery Loan in December 2021.  This loan is repayable over 60 months. The interest on the loan is variable.

Page 8

 
SAFETY DEVICES INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
174,107
225,581

174,107
225,581


Bank loans includes a Government backed 'Bounce Back' Loan of £28,274 (2022: £38,081)  which was drawn down in March 2021. This loan is 100% guaranteed by the Government and there were no fees or interest payable in the first twelve months. After twelve months, interest is charged at 2.5% per annum.
The Company also took out a Recovery Loan in December 2021.  This loan is repayable over 60 months. The interest on the loan is variable.


10.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
(25,371)
(5,788)


Charged to profit or loss
7,066
(19,583)



AT END OF YEAR
(18,305)
(25,371)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(18,305)
(25,371)

(18,305)
(25,371)


11.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 9

 
SAFETY DEVICES INTERNATIONAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

12.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in and independently administered fund. Contributions totalling £1,987 (2022: £1,900) were payable to the fund at the balance sheet date and are included in creditors.


13.


COMMITMENTS UNDER OPERATING LEASES

At 30 June 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
48,000
48,000

Later than 1 year and not later than 5 years
16,000
64,000

64,000
112,000

 
Page 10