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COMPANY REGISTRATION NUMBER: 14520587
Safeteam Training Group Limited
Filleted Unaudited Financial Statements
For the period ended
31 December 2023
Safeteam Training Group Limited
Financial Statements
Period from 2 December 2022 to 31 December 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
Safeteam Training Group Limited
Officers and Professional Advisers
DIRECTOR
Mr M Martins-Charlton
COMPANY SECRETARY
Mrs E Martins-Charlton
REGISTERED OFFICE
Unit 54 Enterprise Centre
Michael Way
Warth Park
Raunds
Northamptonshire
NN9 6GR
ACCOUNTANTS
Streets
Chartered accountants
ECEN
Michael Way
Warth Park
Northamptonshire
NN9 6GR
Safeteam Training Group Limited
Statement of Financial Position
31 December 2023
31 Dec 23
Note
£
Fixed assets
Tangible assets
6
7,381
Current assets
Debtors
7
86,838
Cash at bank and in hand
222,138
---------
308,976
Creditors: amounts falling due within one year
8
255,211
---------
Net current assets
53,765
--------
Total assets less current liabilities
61,146
Provisions
1,402
--------
Net assets
59,744
--------
Capital and reserves
Called up share capital
102
Profit and loss account
59,642
--------
Shareholders funds
59,744
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Safeteam Training Group Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 18 April 2024 , and are signed on behalf of the board by:
Mr M Martins-Charlton
Director
Company registration number: 14520587
Safeteam Training Group Limited
Notes to the Financial Statements
Period from 2 December 2022 to 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 54 Enterprise Centre, Michael Way, Warth Park, Raunds, Northamptonshire, NN9 6GR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Equipment
-
33% straight line
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 3 .
5. Tax on profit
Major components of tax expense
Period from
2 Dec 22 to
31 Dec 23
£
Current tax:
UK current tax expense
45,143
Deferred tax:
Origination and reversal of timing differences
1,402
--------
Tax on profit
46,545
--------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 2 December 2022
Additions
4,060
3,905
7,965
-------
-------
-------
At 31 December 2023
4,060
3,905
7,965
-------
-------
-------
Depreciation
At 2 December 2022
Charge for the period
405
179
584
-------
-------
-------
At 31 December 2023
405
179
584
-------
-------
-------
Carrying amount
At 31 December 2023
3,655
3,726
7,381
-------
-------
-------
7. Debtors
31 Dec 23
£
Trade debtors
85,537
Other debtors
1,301
--------
86,838
--------
8. Creditors: amounts falling due within one year
31 Dec 23
£
Trade creditors
60,384
Corporation tax
45,143
Social security and other taxes
32,263
Other creditors
117,421
---------
255,211
---------
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
31 Dec 23
£
Included in provisions
1,402
-------
The deferred tax account consists of the tax effect of timing differences in respect of:
31 Dec 23
£
Accelerated capital allowances
1,402
-------