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REGISTERED NUMBER: 02420814 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

W.S.P. SAFETY LIMITED

W.S.P. SAFETY LIMITED (REGISTERED NUMBER: 02420814)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.S.P. SAFETY LIMITED

COMPANY INFORMATION
for the Year Ended 30th November 2023







DIRECTORS: R A Gallagher
Mrs L M Gallagher





SECRETARY: Mrs L M Gallagher





REGISTERED OFFICE: Navigation House
48 Millgate
Newark
Nottinghamshire
NG24 4TS





REGISTERED NUMBER: 02420814 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

W.S.P. SAFETY LIMITED (REGISTERED NUMBER: 02420814)

BALANCE SHEET
30th November 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,838 22,693

CURRENT ASSETS
Debtors 5 357,626 389,112
Cash at bank and in hand 962,561 732,344
1,320,187 1,121,456
CREDITORS
Amounts falling due within one year 6 255,383 150,657
NET CURRENT ASSETS 1,064,804 970,799
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,105,642

993,492

CAPITAL AND RESERVES
Called up share capital 7 1,820 1,820
Share premium 3,380 3,380
Retained earnings 1,100,442 988,292
SHAREHOLDERS' FUNDS 1,105,642 993,492

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

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

W.S.P. SAFETY LIMITED (REGISTERED NUMBER: 02420814)

BALANCE SHEET - continued
30th November 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 23rd August 2024 and were signed on its behalf by:





R A Gallagher - Director


W.S.P. SAFETY LIMITED (REGISTERED NUMBER: 02420814)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

W.S.P. Safety 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.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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.

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 17 (2022 - 17 ) .

W.S.P. SAFETY LIMITED (REGISTERED NUMBER: 02420814)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th November 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st December 2022 18,428 58,853 92,375 169,656
Additions - 19,290 13,029 32,319
Disposals - (21,414 ) (80,878 ) (102,292 )
At 30th November 2023 18,428 56,729 24,526 99,683
DEPRECIATION
At 1st December 2022 16,331 40,233 90,399 146,963
Charge for year 314 8,430 1,241 9,985
Eliminated on disposal - (17,225 ) (80,878 ) (98,103 )
At 30th November 2023 16,645 31,438 10,762 58,845
NET BOOK VALUE
At 30th November 2023 1,783 25,291 13,764 40,838
At 30th November 2022 2,097 18,620 1,976 22,693

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade debtors 203,992 238,246
Deferred tax 406 2,524
Accrued income 127,476 123,594
Prepayments 25,752 24,748
357,626 389,112

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade creditors 55,389 3,190
Tax 81,554 39,100
Social security and other taxes 85,819 83,064
Other creditors 2,886 2,728
Accrued expenses 29,735 22,575
255,383 150,657

W.S.P. SAFETY LIMITED (REGISTERED NUMBER: 02420814)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th November 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/11/23 30/11/22
value: £    £   
420 Ordinary voting £1 420 420
1,400 Ordinary non-voting £1 1,400 1,400
1,820 1,820