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REGISTERED NUMBER: 01543445 (England and Wales)















SAFE ALBUMS (U.K.) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024






SAFE ALBUMS (U.K.) LIMITED (REGISTERED NUMBER: 01543445)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAFE ALBUMS (U.K.) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: C F Carter
J E Carter



SECRETARY: M T Carter



REGISTERED OFFICE: 16 Falcon Business Park
Hogwood Lane Industrial Estate
Finchampstead
Berkshire
RG40 4QQ



REGISTERED NUMBER: 01543445 (England and Wales)



ACCOUNTANTS: Atkinson Finch & Co
Chartered Accountants
Central Chambers
45-47 Albert Street
Rugby
Warwickshire
CV21 2SG



SOLICITORS: Clifton Ingram Solicitors
24 Braod Street
Wokingham
Berkshire
RG40 1BA

SAFE ALBUMS (U.K.) LIMITED (REGISTERED NUMBER: 01543445)

BALANCE SHEET
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,783 3,252

CURRENT ASSETS
Stocks 435,918 551,391
Debtors 5 240,409 442,922
Cash at bank and in hand 218,104 124,196
894,431 1,118,509
CREDITORS
Amounts falling due within one year 6 233,226 514,507
NET CURRENT ASSETS 661,205 604,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

691,988

607,254

CREDITORS
Amounts falling due after more than one
year

7

(26,380

)

-

PROVISIONS FOR LIABILITIES (7,696 ) (618 )
NET ASSETS 657,912 606,636

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 657,862 606,586
SHAREHOLDERS' FUNDS 657,912 606,636

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 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.

SAFE ALBUMS (U.K.) LIMITED (REGISTERED NUMBER: 01543445)

BALANCE SHEET - continued
30TH JUNE 2024


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 8th August 2024 and were signed on its behalf by:





C F Carter - Director


SAFE ALBUMS (U.K.) LIMITED (REGISTERED NUMBER: 01543445)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

Safe Albums (U.K.) 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.

Significant judgements and estimates
There are no significant judgements that have a material effect on the financial statements nor any accounting estimates that have a high risk of causing a material adjustment in a future accounting period.

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.
Plant and machinery - 20% on cost
Motor vehicles - 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

SAFE ALBUMS (U.K.) LIMITED (REGISTERED NUMBER: 01543445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

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 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st July 2023 48,905 - 48,905
Additions 316 37,895 38,211
At 30th June 2024 49,221 37,895 87,116
DEPRECIATION
At 1st July 2023 45,653 - 45,653
Charge for year 1,206 9,474 10,680
At 30th June 2024 46,859 9,474 56,333
NET BOOK VALUE
At 30th June 2024 2,362 28,421 30,783
At 30th June 2023 3,252 - 3,252

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 232,774 428,029
Other debtors 4,455 -
Prepayments 3,180 14,893
240,409 442,922

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,500 32,500
Hire purchase contracts (see note 8) 3,599 -
Trade creditors 163,151 392,701
Corporation tax payable 8,758 3,715
Social security and other taxes 16,627 17,010
Other creditors 798 -
Directors' current accounts 10,432 61,432
Accrued expenses 7,361 7,149
233,226 514,507

SAFE ALBUMS (U.K.) LIMITED (REGISTERED NUMBER: 01543445)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 26,380 -

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,599 -
Between one and five years 26,380 -
29,979 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 3,599 -
Between one and five years 26,380 -
29,979 -