Registered number
13916044
Safe Sign Technologies Limited
Filleted Accounts
29 February 2024
Safe Sign Technologies Limited
Registered number: 13916044
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 766,229 93,836
Tangible assets 4 9,100 7,325
775,329 101,161
Current assets
Debtors 5 43,246 23,461
Cash at bank and in hand 8,774 404,533
52,020 427,994
Creditors: amounts falling due within one year 6 (1,015,075) (559,383)
Net current liabilities (963,055) (131,389)
Net liabilities (187,726) (30,228)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (188,726) (31,228)
Shareholders' funds (187,726) (30,228)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the 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.
Alexander Samuel Kardos-Nyheim
Director
Approved by the board on 8 August 2024
Safe Sign Technologies Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on a reducing balance
Fixtures, fittings, tools and equipment 25% on a reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 15 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 March 2023 93,836
Additions 757,530
At 29 February 2024 851,366
Amortisation
Provided during the year 85,137
At 29 February 2024 85,137
Net book value
At 29 February 2024 766,229
At 28 February 2023 93,836
The goodwill developed is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 7,325
Additions 4,808
At 29 February 2024 12,133
Depreciation
Charge for the year 3,033
At 29 February 2024 3,033
Net book value
At 29 February 2024 9,100
At 28 February 2023 7,325
5 Debtors 2024 2023
£ £
Other debtors 43,246 23,461
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 32,364 17,382
Other creditors 982,711 542,001
1,015,075 559,383
Other creditors represents amounts invested into the business by a number of individuals who have invested funds into the development of the business.
7 Controlling party
The company is controlled by Alexander Samuel Kardos-Nyheim on the basis that he holds 100% the ordinary issued share capital of the company.
8 Other information
Safe Sign Technologies Limited is a private company limited by shares and incorporated in England. Its registered office is:
Flat 356 Devon Mansions
London
SE1 2XG
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