UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 NOVEMBER 2023 |
FOR |
SAFE 2 SHORE LTD |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SAFE 2 SHORE LTD (REGISTERED NUMBER: 06545912) |
BALANCE SHEET |
28 November 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 29 November 2022 |
and 28 November 2023 |
AMORTISATION |
At 29 November 2022 |
and 28 November 2023 |
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 |
DEPRECIATION |
At 29 November 2022 |
and 28 November 2023 |
NET BOOK VALUE |
At 28 November 2023 |
At 28 November 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
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: | £ | £ |
Ordinary A | £1 | 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. |