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REGISTERED NUMBER: 13829256 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SAFETYRESPECT UK LIMITED

SAFETYRESPECT UK LIMITED (REGISTERED NUMBER: 13829256)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


SAFETYRESPECT UK LIMITED (REGISTERED NUMBER: 13829256)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 155,462 945

CURRENT ASSETS
Stocks 535,022 150,117
Debtors 5 317,327 126,689
Cash at bank 27,799 30,512
880,148 307,318
CREDITORS
Amounts falling due within one year 6 932,673 284,771
NET CURRENT (LIABILITIES)/ASSETS (52,525 ) 22,547
TOTAL ASSETS LESS CURRENT
LIABILITIES

102,937

23,492

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 102,837 23,392
SHAREHOLDERS' FUNDS 102,937 23,492

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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





T J Gardner - Director


SAFETYRESPECT UK LIMITED (REGISTERED NUMBER: 13829256)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

SafetyRespect UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13829256

Registered office: Unit 16
Forge Trading Estate
Mucklow Hill
Halesowen
B62 8TP

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.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SAFETYRESPECT UK LIMITED (REGISTERED NUMBER: 13829256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 1,202
Additions 165,195
At 31 December 2023 166,397
DEPRECIATION
At 1 January 2023 257
Charge for year 10,678
At 31 December 2023 10,935
NET BOOK VALUE
At 31 December 2023 155,462
At 31 December 2022 945

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 292,498 101,848
Other debtors 14,714 -
Prepayments and accrued income 10,115 24,841
317,327 126,689

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 811,262 185,905
Tax - 5,255
Social security and other taxes 27,783 5,480
Other creditors 528 31
Intercompany loan 88,900 83,900
Accruals and deferred income 4,200 4,200
932,673 284,771

SAFETYRESPECT UK LIMITED (REGISTERED NUMBER: 13829256)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Catherine Gibson LLB(hons) FCCA (Senior Statutory Auditor)
for and on behalf of Gibson Schofield Chartered Certified Accountants

9. RELATED PARTY DISCLOSURES

As at the year end the company owed a loan of £88,900 (2022:£83,900) to its parent company, SafetyRespect AB.

As at the year end the company was owed a trading balance of £15,610 (2022:£9,310) from SafetyRespect AB and £4,170 (2022:£1,575) from Vivatec GMBH.

As at the year end the company owed a trading balance of £159,196 (2022:£111,020) to SafetyRespect AB, £29,912 (2022:nil) to SafetyRespect GMBH, £58,150 (2022:£nil) to SafetyRespect Lithuania, £21,285 (2022:£nil) to SafetyRespect TR and £357,325 (2022:£nil) to Vivatec Safety Limited and £152,841 (2002:£nil) to Omsa Metal Sanayi.

The above companies are related by common control.

The company also owed £nil (2022:£72,693) to Scissorsafe Limited, a company related via a common director.

The controlling party is SafetyRespect AB.