SAFEBREACH UK LIMITED
Directors: G. Bejerano
Registered office: 37 Broadhurst Gardens
London
NW6 3QT
Registered No: 13778572 (England & Wales)
Independent Auditors: Levy Cohen & Co.
Registered Auditors
37 Broadhurst Gardens
London NW6 3QT
Annual report and financial statements
For the period ended 31 December 2022
page
Statement of financial position 1
Notes to the financial statements 2-5
SAFEBREACH UK LIMITED
Statement of financial position as at 31 December 2022
31.12.2022
Notes £ £
Current assets
Debtors 5 71,257
Cash at Bank and in hand 215,050
286,307
Creditors: amounts falling due
within one year 6 (294,857)
Net current liabilities (8,550)
Total net liabilities £ (8,550)
Capital and Deficit
31.12.2022
£ £
Called up share capital 7 1
Profit and loss account (8,551)
Shareholders' fund £ (8,550)
The accounts have been prepared and delivered in accordance with 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.
_________________________
G. Bejerano
Director 16 November 2023
Company number: 9704982
SAFEBREACH UK LIMITED
Notes to the financial statements - 31 December 2022
1. Company Information
The company is a private limited company incorporated and domiciled in England & Wales. The address of its registered office is 37 Broadhurst Gardens, London, NW6 3QT.
The company is a wholly owned subsidiary of Safebreach Ltd, a company registered in Israel.
2. Accounting Policies
2.1 Basis of accounting
The financial statements have been prepared on a going concern basis, under historical cost convention.
The financial statements have been prepared under FRS 102 Section 1A small entities.
The financial statements are presented in sterling (£).
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2.2 Financial instruments
The company has chosen to adapt the sections 11 & 12 of FRS 102 in respect of financial instruments:
(i) Financial assets
Basic financial assets including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at present value of the future receipts discounted at the market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method and are assess for objective evidence of impairment at the end of each reporting period.
(ii) Financial liabilities
Basic financial liabilities including trade and other payable are initially recognised at transaction price unless arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market value of interest debt instruments are subsequently carried at amortised costs using the effective interest rate method.
2.3 Going Concern
The company ceased its trading activities and became dormant in 2023, therefore the financial statements are not prepared under going concern basis.
No changes are required in the amounts and classifications of the assets and liabilities.
2.4 Turnover
Turnover represents net invoiced services, excluding VAT.
SAFEBREACH UK LIMITED
Notes to the financial statements - 31 December 2022
2. Accounting Policies (continued)
2.5 Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the amounts receivable for services rendered during the year.
2.6 Debtors
Short term debtors that includes trade and other receivables are measured at transaction price, less any impairment.
2.7 Creditors
Basic financial liabilities including trade and other payable are measured at transaction price.
2.8 Current & deferred taxation
Deferred taxation is provided using the liability method to take into account timing from the inclusion of items of expenditure in taxation computations in periods that differ from those differences arising in which they are included in the financial statements to the extent that it is probably that an or assets will crystallize in the future.
Provision for deferred taxation is set off against debit balance of deferred taxation.
The current income tax charged is calculated on the basis of the tax rate and laws that have been enacted or substantially enacted by the reporting date in the countries where the company operated and generates income.
2.9 Foreign currencies
Assets and liabilities in foreign currencies are translated into Sterling at the rate of
exchange ruling at the Balance Sheet date. Transaction in Foreign currencies are translated
into Sterling at the rate of exchange ruling at the date of the transaction.
2.10 Employee benefits
The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.
(i) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits are
recognised as an expense in the period in which the service is received.
(ii) Defined contribution pension plans
The company operated 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 when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
(iii) Bonus plan
The company operates annual bonus plan for employees and expense is recognised in the profit and loss account when the company has a legal or constructive obligation to make payment under and loss account when the company has a legal or constructive obligation to make the plan as a result of passed events and reliable estimation of the obligation can be made.payment under the plan as a result of passed events and reliable estimation of the obligation can be made.
SAFEBREACH UK LIMITED
Notes to the financial statements - 31 December 2022
3. Directors' remuneration
No remunerations were paid to any of the directors during the year.
4. Employees
2022
£
Average number of employees 7
5. Debtors
31.12.2022
£
Trade Debtors 70,104
Prepayments 1,153
71,257
6. Creditors: amounts falling due
within one year
31.12.2022
£
VAT 11,723
Parent company 179,348
Pension 5,044
Accruals & deferred income 98,742
294,857
7. Share capital
31.12.2022
£
Allotted, called up and fully paid:
100 ordinary shares at £0.01 1
SAFEBREACH UK LIMITED
Notes to the financial statements - 31 December 2022
8. Audit report information
As the income statement has been omitted from the filing of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444 (5B) of the Companies Act 2006. The auditor's report was unqualified.
The senior statutory auditor was Mr. Josef Cohen.
The auditor was Levy Cohen & Co.
Date auditor signed accounts: 16 November 2023
Name of director signing accounts: G. Bejerano
Date director signed accounts: 16 November 2023
9. Related Party Transactions
Control
The company is a wholly owned subsidiary of Safebreach Ltd, a foreign limited company registered in Israel whose address is: 18 Yosef Karo Street, Tel Aviv, Israel.
Safebreach Ltd is the smallest and largest group to prepare consolidated accounts that can be obtained from its registered office.
Transactions
The company is exempt from disclosing transactions with related parties that are wholly owned within the same group in accordance with FRS 102 Section 33(1)A.
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