Company registration number 08981964 (England and Wales)
Safe Opportunities Ltd
Unaudited financial statements
For the year ended 30 April 2024
Safe Opportunities Ltd
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SAFE OPPORTUNITIES LTD
Safe Opportunities Ltd
Balance sheet
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
209,167
21,042
Current assets
Debtors
4
123,630
192,667
Cash at bank and in hand
160,510
260,957
284,140
453,624
Creditors: amounts falling due within one year
5
(150,042)
(198,958)
Net current assets
134,098
254,666
Total assets less current liabilities
343,265
275,708
Creditors: amounts falling due after more than one year
6
(15,578)
Net assets
343,265
260,130
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
343,165
260,030
Total equity
343,265
260,130
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SAFE OPPORTUNITIES LTD
Safe Opportunities Ltd
Balance sheet (continued)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 21 August 2024
Mrs H L Pullan
Director
Company Registration No. 08981964
SAFE OPPORTUNITIES LTD
Safe Opportunities Ltd
Notes to the financial statements
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information
Safe Opportunities Ltd is a private company limited by shares incorporated in England and Wales. The registered office and business address is 14 Mallard Court, Mallard Way, Crewe, CW1 6ZQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Cost
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
33% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
SAFE OPPORTUNITIES LTD
Safe Opportunities Ltd
Notes to the financial statements (continued)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Retirement benefits
The company contributes to the personal pension scheme of the director and staff. Contributions payable are charged to the profit and loss account in the year they are payable.
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
22
18
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
31,379
31,379
Additions
192,878
1,722
194,600
At 30 April 2024
192,878
33,101
225,979
Depreciation and impairment
At 1 May 2023
10,337
10,337
Depreciation charged in the year
6,475
6,475
At 30 April 2024
16,812
16,812
Carrying amount
At 30 April 2024
192,878
16,289
209,167
At 30 April 2023
21,042
21,042
SAFE OPPORTUNITIES LTD
Safe Opportunities Ltd
Notes to the financial statements (continued)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
119,068
187,972
Other debtors
406
406
Prepayments and accrued income
4,156
4,064
123,630
192,442
Deferred tax asset
225
123,630
192,667
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
861
1,431
Taxation and social security
28,396
47,823
Other creditors
120,785
149,704
150,042
198,958
Included in other creditors are accruals and deferred income of £98,114 (2023 - £146,727)
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
15,578
Included in other creditors falling due within one year and more than one year are obligations under finance leases of £15,474 (2023 - £17,858) .The obligations under finance leases are secured on the assets purchased.
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100