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Company registration number: 06584469
Three Spires Safety Ltd
Unaudited filleted financial statements
31 March 2024
Three Spires Safety Ltd
Contents
Statement of financial position
Notes to the financial statements
Three Spires Safety Ltd
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Current assets
Debtors 6 400,406 266,985
Cash at bank and in hand 22,085 56,398
_______ _______
422,491 323,383
Creditors: amounts falling due
within one year 7 ( 35,350) ( 42,268)
_______ _______
Net current assets 387,141 281,115
_______ _______
Total assets less current liabilities 387,141 281,115
_______ _______
Net assets 387,141 281,115
_______ _______
Capital and reserves
Called up share capital 101 101
Profit and loss account 387,040 281,014
_______ _______
Shareholders funds 387,141 281,115
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 August 2024 , and are signed on behalf of the board by:
Mr John Southall
Director
Company registration number: 06584469
Three Spires Safety Ltd
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office and business is 16 Shamans Cross Road, Solihull, West Midlands, B91 1 RG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20% % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Debtors and creditors due within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 3 ).
5. Tangible assets
Total
£
Cost
At 1 April 2023 and 31 March 2024 -
_______
Depreciation
At 1 April 2023 and 31 March 2024 -
_______
Carrying amount
At 31 March 2024 -
_______
At 31 March 2023 -
_______
6. Debtors
2024 2023
£ £
Trade debtors - 38,242
Amounts owed by group undertakings and undertakings in which the company has a participating interest 400,406 228,742
Other debtors - 1
_______ _______
400,406 266,985
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors - 2,096
Corporation tax 35,350 23,389
Social security and other taxes - 5,340
Other creditors - 11,443
_______ _______
35,350 42,268
_______ _______
8. Controlling party
The company is a whollyowed subsidiary of Opus Safety Ltd. The registered office address of Opus Safety Ltd is 16 Shamans Cross Road, Solihull, West Midlands, B91 1RG.