2023-01-012023-12-312023-12-31false11710947SAFE.AI LTD2024-08-14iso4217:GBPxbrli:pure117109472023-01-01117109472023-12-31117109472023-01-012023-12-31117109472022-01-01117109472022-12-31117109472022-01-012022-12-3111710947bus:SmallEntities2023-01-012023-12-3111710947bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3111710947bus:FullAccounts2023-01-012023-12-3111710947bus:PrivateLimitedCompanyLtd2023-01-012023-12-3111710947core:WithinOneYear2023-12-3111710947core:AfterOneYear2023-12-3111710947core:WithinOneYear2022-12-3111710947core:AfterOneYear2022-12-3111710947core:ShareCapital2023-12-3111710947core:SharePremium2023-12-3111710947core:RevaluationReserve2023-12-3111710947core:OtherReservesSubtotal2023-12-3111710947core:RetainedEarningsAccumulatedLosses2023-12-3111710947core:ShareCapital2022-12-3111710947core:SharePremium2022-12-3111710947core:RevaluationReserve2022-12-3111710947core:OtherReservesSubtotal2022-12-3111710947core:RetainedEarningsAccumulatedLosses2022-12-3111710947core:LandBuildings2023-12-3111710947core:PlantMachinery2023-12-3111710947core:Vehicles2023-12-3111710947core:FurnitureFittings2023-12-3111710947core:OfficeEquipment2023-12-3111710947core:NetGoodwill2023-12-3111710947core:IntangibleAssetsOtherThanGoodwill2023-12-3111710947core:ListedExchangeTraded2023-12-3111710947core:UnlistedNon-exchangeTraded2023-12-3111710947core:LandBuildings2022-12-3111710947core:PlantMachinery2022-12-3111710947core:Vehicles2022-12-3111710947core:FurnitureFittings2022-12-3111710947core:OfficeEquipment2022-12-3111710947core:NetGoodwill2022-12-3111710947core:IntangibleAssetsOtherThanGoodwill2022-12-3111710947core:ListedExchangeTraded2022-12-3111710947core:UnlistedNon-exchangeTraded2022-12-3111710947core:LandBuildings2023-01-012023-12-3111710947core:PlantMachinery2023-01-012023-12-3111710947core:Vehicles2023-01-012023-12-3111710947core:FurnitureFittings2023-01-012023-12-3111710947core:OfficeEquipment2023-01-012023-12-3111710947core:NetGoodwill2023-01-012023-12-3111710947core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111710947core:ListedExchangeTraded2023-01-012023-12-3111710947core:UnlistedNon-exchangeTraded2023-01-012023-12-3111710947core:MoreThanFiveYears2023-01-012023-12-3111710947core:Non-currentFinancialInstruments2023-12-3111710947core:Non-currentFinancialInstruments2022-12-3111710947dpl:CostSales2023-01-012023-12-3111710947dpl:DistributionCosts2023-01-012023-12-3111710947core:LandBuildings2023-01-012023-12-3111710947core:PlantMachinery2023-01-012023-12-3111710947core:Vehicles2023-01-012023-12-3111710947core:FurnitureFittings2023-01-012023-12-3111710947core:OfficeEquipment2023-01-012023-12-3111710947dpl:AdministrativeExpenses2023-01-012023-12-3111710947core:NetGoodwill2023-01-012023-12-3111710947core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3111710947dpl:GroupUndertakings2023-01-012023-12-3111710947dpl:ParticipatingInterests2023-01-012023-12-3111710947dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3111710947core:ListedExchangeTraded2023-01-012023-12-3111710947dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3111710947core:UnlistedNon-exchangeTraded2023-01-012023-12-3111710947dpl:CostSales2022-01-012022-12-3111710947dpl:DistributionCosts2022-01-012022-12-3111710947core:LandBuildings2022-01-012022-12-3111710947core:PlantMachinery2022-01-012022-12-3111710947core:Vehicles2022-01-012022-12-3111710947core:FurnitureFittings2022-01-012022-12-3111710947core:OfficeEquipment2022-01-012022-12-3111710947dpl:AdministrativeExpenses2022-01-012022-12-3111710947core:NetGoodwill2022-01-012022-12-3111710947core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3111710947dpl:GroupUndertakings2022-01-012022-12-3111710947dpl:ParticipatingInterests2022-01-012022-12-3111710947dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3111710947core:ListedExchangeTraded2022-01-012022-12-3111710947dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3111710947core:UnlistedNon-exchangeTraded2022-01-012022-12-3111710947core:NetGoodwill2023-12-3111710947core:IntangibleAssetsOtherThanGoodwill2023-12-3111710947core:LandBuildings2023-12-3111710947core:PlantMachinery2023-12-3111710947core:Vehicles2023-12-3111710947core:FurnitureFittings2023-12-3111710947core:OfficeEquipment2023-12-3111710947core:AfterOneYear2023-12-3111710947core:WithinOneYear2023-12-3111710947core:ListedExchangeTraded2023-12-3111710947core:UnlistedNon-exchangeTraded2023-12-3111710947core:ShareCapital2023-12-3111710947core:SharePremium2023-12-3111710947core:RevaluationReserve2023-12-3111710947core:OtherReservesSubtotal2023-12-3111710947core:RetainedEarningsAccumulatedLosses2023-12-3111710947core:NetGoodwill2022-12-3111710947core:IntangibleAssetsOtherThanGoodwill2022-12-3111710947core:LandBuildings2022-12-3111710947core:PlantMachinery2022-12-3111710947core:Vehicles2022-12-3111710947core:FurnitureFittings2022-12-3111710947core:OfficeEquipment2022-12-3111710947core:AfterOneYear2022-12-3111710947core:WithinOneYear2022-12-3111710947core:ListedExchange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SAFE.AI LTD

Registered Number
11710947
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

SAFE.AI LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

LOMUSCIO, Alessio

Registered Address

128 City Road
London
EC1V 2NX

Registered Number

11710947 (England and Wales)
SAFE.AI LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Called up share capital not paid1010
Current assets
Debtors3512810
Cash at bank and on hand101,067115,508
101,579116,318
Creditors amounts falling due within one year4(868)(4,116)
Net current assets (liabilities)100,721112,212
Total assets less current liabilities100,721112,212
Net assets100,721112,212
Capital and reserves
Called up share capital1010
Profit and loss account100,711112,202
Shareholders' funds100,721112,212
The financial statements were approved and authorised for issue by the Director on 14 August 2024, and are signed on its behalf by:
LOMUSCIO, Alessio
Director
Registered Company No. 11710947
SAFE.AI LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Revenue from rendering of services
Revenue 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.
Interest income
Interest income is recognised using the effective interest rate method.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20232022
Average number of employees during the year00
3.Debtors: amounts due within one year

2023

2022

££
Other debtors238536
Prepayments and accrued income274274
Total512810
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables136-
Taxation and social security-3,486
Other creditors102-
Accrued liabilities and deferred income630630
Total8684,116
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.