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REGISTERED NUMBER: SC526884 (Scotland)









SAFER SCOTLAND LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2023






SAFER SCOTLAND LTD (REGISTERED NUMBER: SC526884)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


SAFER SCOTLAND LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTORS: R Clark
P Bunting





REGISTERED OFFICE: 272 Bath Street
Glasgow
G2 4JR





BUSINESS ADDRESS: Suite 4001
Abbeymill Business Centre
Seedhill Road
Paisley
PA1 1JS





REGISTERED NUMBER: SC526884 (Scotland)





ACCOUNTANTS: russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SAFER SCOTLAND LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Safer Scotland Ltd for the year ended 28th February 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Safer Scotland Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Safer Scotland Ltd and state those matters that we have agreed to state to the Board of Directors of Safer Scotland Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Safer Scotland Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Safer Scotland Ltd. You consider that Safer Scotland Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Safer Scotland Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






russell + russell
Chartered Certified Accountants
4 Royal Crescent
Glasgow
G3 7SL


29th November 2023

SAFER SCOTLAND LTD (REGISTERED NUMBER: SC526884)

BALANCE SHEET
28TH FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 235,549 140,799
Tangible assets 5 1,698,995 691,047
1,934,544 831,846

CURRENT ASSETS
Stocks 22,118 5,050
Debtors 6 1,126,050 852,665
Cash at bank and in hand 230,010 355,316
1,378,178 1,213,031
CREDITORS
Amounts falling due within one year 7 1,563,170 702,629
NET CURRENT (LIABILITIES)/ASSETS (184,992 ) 510,402
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,749,552

1,342,248

CREDITORS
Amounts falling due after more than one
year

8

(113,086

)

(105,797

)

PROVISIONS FOR LIABILITIES (176,127 ) (145,093 )
NET ASSETS 1,460,339 1,091,358

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 1,460,338 1,091,357
SHAREHOLDERS' FUNDS 1,460,339 1,091,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

SAFER SCOTLAND LTD (REGISTERED NUMBER: SC526884)

BALANCE SHEET - continued
28TH FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th November 2023 and were signed on its behalf by:





R Clark - Director


SAFER SCOTLAND LTD (REGISTERED NUMBER: SC526884)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

Safer Scotland 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
The financial statements have been prepared on the going concern basis. The directors believe that the company has adequate resources and support to continue to operate for the foreseeable future.

Turnover
The turnover shown in the profit and loss account represents the sales value of work done during the year, exclusive of Value Added Tax.

Research and development
Research and development expenditure on clearly defined projects whose outcome can be assessed with reasonable certainty is capitalised and amortisation is commenced in the year the product is released. All other research and development expenditure is written off in the year in which it is incurred.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Research and development- 25% straight line

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - 25% straight line
Plant and machinery - 25% straight line
Fixtures and fittings - 25% straight line
Motor vehicles - 25% straight line
Computer equipment - 25% straight line

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


SAFER SCOTLAND LTD (REGISTERED NUMBER: SC526884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 40 (2022 - 24 ) .

SAFER SCOTLAND LTD (REGISTERED NUMBER: SC526884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1st March 2022 140,799
Additions 126,030
At 28th February 2023 266,829
AMORTISATION
Amortisation for year 31,280
At 28th February 2023 31,280
NET BOOK VALUE
At 28th February 2023 235,549
At 28th February 2022 140,799

The amounts capitalised relate to development work on the Safer Pod S1 which was released in July 2022. Since the release date, further development work has been undertaken in relation to this Pod. Amortisation started from the release date.

Following the release of Safer Pod S1, development work has started on the Safer Pods S3, S4 and S7.

These costs have been capitalised in order to match the costs incurred against the significant revenues that are expected to be generated from this product.

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
improvements machinery fittings
£    £    £   
COST
At 1st March 2022 - 636,827 17,936
Additions 2,548 1,314,421 8,781
Disposals - (7,128 ) -
At 28th February 2023 2,548 1,944,120 26,717
DEPRECIATION
At 1st March 2022 - 228,442 11,942
Charge for year 410 315,735 5,952
Eliminated on disposal - (291 ) -
At 28th February 2023 410 543,886 17,894
NET BOOK VALUE
At 28th February 2023 2,138 1,400,234 8,823
At 28th February 2022 - 408,385 5,994

SAFER SCOTLAND LTD (REGISTERED NUMBER: SC526884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st March 2022 329,892 26,893 1,011,548
Additions 105,662 15,611 1,447,023
Disposals - - (7,128 )
At 28th February 2023 435,554 42,504 2,451,443
DEPRECIATION
At 1st March 2022 70,890 9,227 320,501
Charge for year 102,071 8,070 432,238
Eliminated on disposal - - (291 )
At 28th February 2023 172,961 17,297 752,448
NET BOOK VALUE
At 28th February 2023 262,593 25,207 1,698,995
At 28th February 2022 259,002 17,666 691,047

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st March 2022 166,982
Additions 105,662
Transfer to ownership (11,198 )
At 28th February 2023 261,446
DEPRECIATION
At 1st March 2022 19,920
Charge for year 62,681
Transfer to ownership (10,498 )
At 28th February 2023 72,103
NET BOOK VALUE
At 28th February 2023 189,343
At 28th February 2022 147,062

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 1,107,280 845,138
Other debtors 18,770 7,527
1,126,050 852,665

SAFER SCOTLAND LTD (REGISTERED NUMBER: SC526884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Hire purchase contracts 52,876 30,973
Trade creditors 565,767 352,119
Taxation and social security 189,932 249,208
Other creditors 744,595 60,329
1,563,170 702,629

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 9) 22,500 32,500
Hire purchase contracts 90,586 73,297
113,086 105,797

9. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 12,500 22,500

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Hire purchase contracts 143,462 104,270
Amount owed to bank 625,745 -
769,207 104,270

There is a floating charge over the assets of the company to secure any future sums and obligations due or become due from time to time by the company to Aldermore Bank Plc.

SAFER SCOTLAND LTD (REGISTERED NUMBER: SC526884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid

Number: Class: Nominal 28.02.22 28.02.21
value: £    £   

76 A Ordinary 0.01p 0.76 0.76
24 B Ordinary 0.01p 0.24 0.24
1 1

12. OTHER FINANCIAL COMMITMENTS

The company has future operating lease commitments of £90,167 (2022: £112,942)

13. ULTIMATE CONTROLLING PARTY

The company was under the control of Mr R Clark throughout the current and previous year.

14. NET CURRENT LIABILITIES

Although these accounts show a net current liability position, trading in the financial year ended 28th February, 2024 is very strong and the company has net current assets in excess of £750,000 at 31st October, 2023.