IRIS Accounts Production v23.3.1.45 07642889 director 1.6.22 31.5.23 31.5.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076428892022-05-31076428892023-05-31076428892022-06-012023-05-31076428892021-05-31076428892021-06-012022-05-31076428892022-05-3107642889ns10:Originalns15:EnglandWales2022-06-012023-05-3107642889ns14:PoundSterlingns10:Original2022-06-012023-05-3107642889ns10:Originalns10:Director12022-06-012023-05-3107642889ns10:Original2022-06-012023-05-3107642889ns10:Original2023-05-3107642889ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-3107642889ns10:Originalns10:SmallEntities2022-06-012023-05-3107642889ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-3107642889ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-3107642889ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-3107642889ns10:Originalns10:FullAccounts2022-06-012023-05-3107642889ns10:Originalns10:OrdinaryShareClass12022-06-012023-05-3107642889ns10:Originalns10:RegisteredOffice2022-06-012023-05-3107642889ns10:Original2022-05-3107642889ns10:Originalns5:CurrentFinancialInstruments2023-05-3107642889ns10:Originalns5:CurrentFinancialInstruments2022-05-3107642889ns10:Originalns5:Non-currentFinancialInstruments2023-05-3107642889ns10:Originalns5:Non-currentFinancialInstruments2022-05-3107642889ns5:ShareCapitalns10:Original2023-05-3107642889ns5:ShareCapitalns10:Original2022-05-3107642889ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-3107642889ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-3107642889ns10:Originalns5:LeaseholdImprovements2022-06-012023-05-3107642889ns10:Originalns5:PlantMachinery2022-06-012023-05-3107642889ns10:Originalns5:FurnitureFittings2022-06-012023-05-3107642889ns10:Originalns5:MotorVehicles2022-06-012023-05-3107642889ns10:Originalns5:ComputerEquipment2022-06-012023-05-3107642889ns10:Original2021-06-012022-05-3107642889ns10:Originalns5:LeaseholdImprovements2022-05-3107642889ns10:Originalns5:PlantMachinery2022-05-3107642889ns10:Originalns5:FurnitureFittings2022-05-3107642889ns10:Originalns5:LeaseholdImprovements2023-05-3107642889ns10:Originalns5:PlantMachinery2023-05-3107642889ns10:Originalns5:FurnitureFittings2023-05-3107642889ns10:Originalns5:LeaseholdImprovements2022-05-3107642889ns10:Originalns5:PlantMachinery2022-05-3107642889ns10:Originalns5:FurnitureFittings2022-05-3107642889ns10:Originalns5:MotorVehicles2022-05-3107642889ns10:Originalns5:ComputerEquipment2022-05-3107642889ns10:Original2022-05-3107642889ns10:Originalns5:MotorVehicles2023-05-3107642889ns10:Originalns5:ComputerEquipment2023-05-3107642889ns10:Originalns5:MotorVehicles2022-05-3107642889ns10:Originalns5:ComputerEquipment2022-05-3107642889ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3107642889ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-3107642889ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-05-3107642889ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-05-3107642889ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3107642889ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-05-3107642889ns10:Originalns10:OrdinaryShareClass12023-05-31
REGISTERED NUMBER: 07642889 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

FOLGATE SAFETY LIMITED

FOLGATE SAFETY LIMITED (REGISTERED NUMBER: 07642889)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FOLGATE SAFETY LIMITED

COMPANY INFORMATION
For The Year Ended 31 May 2023







DIRECTOR: D Folgate





REGISTERED OFFICE: Unit 9
Shieling Court
Oakley Industrial Estate
Corby
Northamptonshire
NN18 9QD





REGISTERED NUMBER: 07642889 (England and Wales)





ACCOUNTANTS: TC Group
Unit 1
Brooklands Court
Kettering Venture Park
Kettering
Northamptonshire
NN15 6FD

FOLGATE SAFETY LIMITED (REGISTERED NUMBER: 07642889)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,151 15,818

CURRENT ASSETS
Stocks 17,846 14,284
Debtors 5 70,800 52,454
Cash at bank and in hand 56,065 56,034
144,711 122,772
CREDITORS
Amounts falling due within one year 6 79,171 70,579
NET CURRENT ASSETS 65,540 52,193
TOTAL ASSETS LESS CURRENT LIABILITIES 114,691 68,011

CREDITORS
Amounts falling due after more than one
year

7

(22,345

)

(42,500

)

PROVISIONS FOR LIABILITIES (6,796 ) (1,036 )
NET ASSETS 85,550 24,475

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 85,549 24,474
SHAREHOLDERS' FUNDS 85,550 24,475

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FOLGATE SAFETY LIMITED (REGISTERED NUMBER: 07642889)

BALANCE SHEET - continued
31 May 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 director and authorised for issue on 15 February 2024 and were signed by:





D Folgate - Director


FOLGATE SAFETY LIMITED (REGISTERED NUMBER: 07642889)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2023


1. STATUTORY INFORMATION

Folgate Safety Limited is a private company, limited by shares , registered in England and Wales. 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.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

FOLGATE SAFETY LIMITED (REGISTERED NUMBER: 07642889)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2023


2. ACCOUNTING POLICIES - continued

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 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2022 15,725 7,061 2,291
Additions - - -
Disposals - - -
At 31 May 2023 15,725 7,061 2,291
DEPRECIATION
At 1 June 2022 4,679 6,183 2,291
Charge for year 1,572 566 -
Eliminated on disposal - - -
At 31 May 2023 6,251 6,749 2,291
NET BOOK VALUE
At 31 May 2023 9,474 312 -
At 31 May 2022 11,046 878 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 14,250 4,267 43,594
Additions 42,231 - 42,231
Disposals (5,750 ) - (5,750 )
At 31 May 2023 50,731 4,267 80,075
DEPRECIATION
At 1 June 2022 11,345 3,278 27,776
Charge for year 5,931 613 8,682
Eliminated on disposal (5,534 ) - (5,534 )
At 31 May 2023 11,742 3,891 30,924
NET BOOK VALUE
At 31 May 2023 38,989 376 49,151
At 31 May 2022 2,905 989 15,818

FOLGATE SAFETY LIMITED (REGISTERED NUMBER: 07642889)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 67,443 49,494
Prepayments and accrued income 3,357 2,960
70,800 52,454

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,500 7,500
Trade creditors 11,568 18,733
Corporation tax 26,047 16,627
Social security and other taxes 1,771 1,553
VAT 28,275 25,035
Other creditors 477 341
Directors' current accounts 1,798 790
Accruals and deferred income 1,735 -
79,171 70,579

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 20,000 20,000
Bank loans - 2-5 years 2,345 22,500
22,345 42,500

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1