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Registered number: 11533638
Safe Pc Direct Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2023
OXON ACCOUNTANCY
28 THE QUADRANT
THE SCIENCE CENTRE
Abingdon
Oxfordshire
OX14 3YS
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11533638
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 92,082 61,253
92,082 61,253
CURRENT ASSETS
Stocks 5 25,000 60,000
Cash at bank and in hand 1,835 1,835
26,835 61,835
Creditors: Amounts Falling Due Within One Year 7 (234,061 ) (149,638 )
NET CURRENT ASSETS (LIABILITIES) (207,226 ) (87,803 )
TOTAL ASSETS LESS CURRENT LIABILITIES (115,144 ) (26,550 )
Creditors: Amounts Falling Due After More Than One Year 8 (58,712 ) (73,923 )
NET LIABILITIES (173,856 ) (100,473 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (173,956 ) (100,573 )
SHAREHOLDERS' FUNDS (173,856) (100,473)
Page 1
Page 2
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Kristina Cheema
Director
30/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Safe Pc Direct Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11533638 . The registered office is Unit 10 North Hinksey Lane, Oxford, England, OX2 0LX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance basis
Motor Vehicles 20% reducing balance basis
Computer Equipment 33.33% of reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2022 18,100 56,499 15,000 89,599
Additions - 54,591 - 54,591
As at 31 August 2023 18,100 111,090 15,000 144,190
Depreciation
As at 1 September 2022 6,491 11,300 10,555 28,346
Provided during the period 2,322 19,958 1,482 23,762
As at 31 August 2023 8,813 31,258 12,037 52,108
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 August 2023 9,287 79,832 2,963 92,082
As at 1 September 2022 11,609 45,199 4,445 61,253
5. Stocks
2023 2022
£ £
Materials 25,000 60,000
6. Debtors
2023 2022
£ £
Due within one year
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 20,862 20,862
VAT 463 -
Directors' loan accounts 212,736 128,776
234,061 149,638
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 58,712 73,923
58,712 73,923
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 4