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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 NOVEMBER 2023

FOR

SAFE 2 SHORE LTD

SAFE 2 SHORE LTD (REGISTERED NUMBER: 06545912)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 28 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SAFE 2 SHORE LTD

COMPANY INFORMATION
For The Year Ended 28 November 2023







DIRECTOR: Mr K J Fry





REGISTERED OFFICE: 5th Floor
Waverley House
115 - 119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY





REGISTERED NUMBER: 06545912 (England and Wales)






SAFE 2 SHORE LTD (REGISTERED NUMBER: 06545912)

BALANCE SHEET
28 November 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 6 - 1,375

CREDITORS
Amounts falling due within one year 7 (23,028 ) (23,198 )
NET CURRENT LIABILITIES (23,028 ) (21,823 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(23,028

)

(21,823

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (23,128 ) (21,923 )
SHAREHOLDERS' FUNDS (23,028 ) (21,823 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 November 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.

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 20 August 2024 and were signed by:





Mr K J Fry - Director


SAFE 2 SHORE LTD (REGISTERED NUMBER: 06545912)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 28 November 2023

1. STATUTORY INFORMATION

Safe 2 Shore 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.

Going concern
The company is dependent on the continued support of its Director and Bank facilities and their agreement of deferring amounts due to them. On this basis it is appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of financial support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the excess of the acquisition cost of a business over the fair value of the identifiable assets and liabilities of the acquired business in 2008. Goodwill is carried at cost less any amounts written off through impairment and has been fully amortised over its useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on cost

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured as amortised cost using the effective interest rate method, less impairment.

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.

SAFE 2 SHORE LTD (REGISTERED NUMBER: 06545912)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 29 November 2022
and 28 November 2023 33,000
AMORTISATION
At 29 November 2022
and 28 November 2023 33,000
NET BOOK VALUE
At 28 November 2023 -
At 28 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 29 November 2022
and 28 November 2023 4,237
DEPRECIATION
At 29 November 2022
and 28 November 2023 4,237
NET BOOK VALUE
At 28 November 2023 -
At 28 November 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 785
Other debtors - 590
- 1,375

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,948 1,939
Trade creditors 1,270 4,951
Other creditors 19,810 16,308
23,028 23,198

SAFE 2 SHORE LTD (REGISTERED NUMBER: 06545912)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 28 November 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

9. OTHER FINANCIAL COMMITMENTS

Commitments under non cancellable operating leases totalled £Nil (2022: £9,000) as at 28 November 2023.