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REGISTERED NUMBER: 06430303 (England and Wales)








REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

SAFETYNET IT LTD

SAFETYNET IT LTD (REGISTERED NUMBER: 06430303)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Report of the Directors 2

Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 7


SAFETYNET IT LTD

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: Mr J Harrop
Mr D T Angell



SECRETARY: Mrs A R Harrop



REGISTERED OFFICE: Suite A
Unit 10 Century Park
Caspian Road
Altrincham
WA14 5HH



REGISTERED NUMBER: 06430303 (England and Wales)



ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD



BANKERS: NatWest Bank Plc
Altrincham Branch
23 Stamford New Road
Altrincham
Cheshire
WA14 1D8

SAFETYNET IT LTD (REGISTERED NUMBER: 06430303)

REPORT OF THE DIRECTORS
for the Year Ended 31 October 2023

The directors present their report with the financial statements of the company for the year ended 31 October 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of computer systems maintenance and the supply of hardware, consumables and equipment.

DIRECTORS
The directors set out in the table below have held office during the whole of the period from 1 November 2022 to the date of this report.

The beneficial interests of the directors holding office at 31 October 2023 in the shares of the company, according to the register of directors' interests, were as follows:

31.10.23 1.11.22
Ordinary A shares of £1 each
Mr J Harrop 450 450
Mr D T Angell 100 100

Ordinary B shares of £1 each
Mr J Harrop 1 1
Mr D T Angell - -

Ordinary D shares of £1 each
Mr J Harrop - -
Mr D T Angell 1 1

These directors did not hold any beneficial interests in the Ordinary C shares of £1 each.

These directors did not hold any non-beneficial interests in any of the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr J Harrop - Director


30 July 2024

SAFETYNET IT LTD (REGISTERED NUMBER: 06430303)

STATEMENT OF FINANCIAL POSITION
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 815 432

CURRENT ASSETS
Stocks 4,260 1,663
Debtors 5 54,080 36,862
Cash at bank and in hand 172,987 100,059
231,327 138,584
CREDITORS
Amounts falling due within one year 6 (87,534 ) (57,681 )
NET CURRENT ASSETS 143,793 80,903
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,608

81,335

PROVISIONS FOR LIABILITIES (203 ) (79 )
NET ASSETS 144,405 81,256

CAPITAL AND RESERVES
Called up share capital 1,003 1,003
Retained earnings 143,402 80,253
SHAREHOLDERS' FUNDS 144,405 81,256

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

SAFETYNET IT LTD (REGISTERED NUMBER: 06430303)

STATEMENT OF FINANCIAL POSITION - continued
31 October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mr J Harrop - Director


SAFETYNET IT LTD (REGISTERED NUMBER: 06430303)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Safetynet IT Ltd 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.
Fixtures and fittings - 25% on reducing balance

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 6 (2022 - 6 ) .

SAFETYNET IT LTD (REGISTERED NUMBER: 06430303)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 November 2022 4,749
Additions 524
At 31 October 2023 5,273
DEPRECIATION
At 1 November 2022 4,317
Charge for year 141
At 31 October 2023 4,458
NET BOOK VALUE
At 31 October 2023 815
At 31 October 2022 432

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 42,747 22,906
Other debtors 11,333 13,956
54,080 36,862

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 809 -
Trade creditors 24,264 25,912
Taxation and social security 60,189 30,080
Other creditors 2,272 1,689
87,534 57,681

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mr D T Angell
Balance outstanding at start of year 6,611 -
Amounts advanced 389 7,000
Amounts repaid - (389 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,000 6,611

SAFETYNET IT LTD (REGISTERED NUMBER: 06430303)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr J Harrop.