Registered number
11492433
SP Safer Solutions Ltd
Filleted Accounts
31 July 2024
SP Safer Solutions Ltd
Registered number: 11492433
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 27,734 36,978
Current assets
Debtors 4 1,140 9,113
Cash at bank and in hand 19,688 25,812
20,828 34,925
Creditors: amounts falling due within one year 5 (9,552) (11,743)
Net current assets 11,276 23,182
Total assets less current liabilities 39,010 60,160
Creditors: amounts falling due after more than one year 6 (24,008) (27,793)
Provisions for liabilities (5,270) (7,025)
Net assets 9,732 25,342
Capital and reserves
Share premium 100 100
Profit and loss account 9,632 25,242
Shareholder's funds 9,732 25,342
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Simon Pullin
Director
Approved by the board on 11 September 2024
SP Safer Solutions Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor Vehicle 25% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 12,220 43,750 55,970
At 31 July 2024 12,220 43,750 55,970
Depreciation
At 1 August 2023 8,055 10,937 18,992
Charge for the year 1,041 8,203 9,244
At 31 July 2024 9,096 19,140 28,236
Net book value
At 31 July 2024 3,124 24,610 27,734
At 31 July 2023 4,165 32,813 36,978
4 Debtors 2024 2023
£ £
Trade debtors - 8,033
Other debtors 1,140 1,080
1,140 9,113
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 3,785 3,785
Director's loan account 4,987 4,949
Taxation and social security costs - 2,319
Other creditors 780 690
9,552 11,743
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 24,008 27,793
7 Other information
SP Safer Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
New Down House
78a Down Road
Portishead
BS20 8DA
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