1 November 2022 false No description of principal activity Taxfiler 2024.5 12974878business:PrivateLimitedCompanyLtd2022-11-012023-10-31 129748782022-10-31 129748782022-11-012023-10-31 12974878business:AuditExemptWithAccountantsReport2022-11-012023-10-31 12974878business:FilletedAccounts2022-11-012023-10-31 129748782023-10-31 129748782022-10-31 12974878core:WithinOneYear2023-10-31 12974878core:WithinOneYear2022-10-31 12974878core:AfterOneYear2023-10-31 12974878core:AfterOneYear2022-10-31 12974878core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-10-31 12974878core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-10-31 12974878core:PreviouslyStatedAmount2023-10-31 12974878core:PreviouslyStatedAmount2022-10-31 12974878business:SmallEntities2022-11-012023-10-31 12974878business:Director12022-11-012023-10-31 12974878countries:EnglandWales2022-11-012023-10-31 12974878business:RegisteredOffice2022-11-012023-10-31 12974878core:PlantMachinery2022-11-012023-10-31 12974878core:MotorVehicles2022-11-012023-10-31 12974878core:PlantMachinery2022-10-31 12974878core:MotorVehicles2022-10-31 12974878core:PlantMachinery2023-10-31 12974878core:MotorVehicles2023-10-31 129748782021-11-012022-10-31 iso4217:GBP xbrli:pure
SafenetUk Ltd Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
92,249 
112,498 
Current assets
Debtors
15,257 
178,087 
Cash at bank and in hand
69,378 
4,912 
84,635 
182,999 
Creditors: amounts falling due within one year
48,904 
14,356 
Net current assets
133,539 
197,355 
Total assets less current liabilities
225,788 
309,853 
Creditors: amounts falling due after more than one year
50,007 
(56,000)
Net assets
275,795 
253,853 
Capital and reserves
Profit and loss account
275,795 
253,853 
Shareholders' funds
275,795 
253,853 
For the year ending 31 October 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 September 2024 and were signed on its behalf by
Ian Harrison Director Company Registration No. 12974878
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SafenetUk Ltd Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
SafenetUk Ltd is a private company, limited by shares, registered in England and Wales, registration number 12974878. The registered office is 13 VAENOR STREET, ABERYSTWYTH, SY23 2EN, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20%
Motor vehicles
20%
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
87,540 
67,524 
155,064 
Additions
5,687 
27,236 
32,923 
At 31 October 2023
93,227 
94,760 
187,987 
Depreciation
At 1 November 2022
28,116 
14,450 
42,566 
Charge for the year
16,383 
36,789 
53,172 
At 31 October 2023
44,499 
51,239 
95,738 
Net book value
At 31 October 2023
48,728 
43,521 
92,249 
At 31 October 2022
59,424 
53,074 
112,498 
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SafenetUk Ltd Notes to the Accounts for the year ended 31 October 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
20,907 
- 
Trade debtors
- 
134,185 
Other debtors
(5,650)
43,902 
15,257 
178,087 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
- 
(35,067)
Trade creditors
- 
19,511 
Taxes and social security
(48,904)
- 
Accruals
- 
1,200 
(48,904)
(14,356)
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
- 
56,000 
Taxes and social security
(50,007)
- 
(50,007)
56,000 
8
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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