Silverfin false false 31/12/2023 01/01/2023 31/12/2023 D Allport L Allport C Jones 12/01/2023 29 February 2024 The principal activity of the company continued to be that of supplying access and rescue products 04881460 2023-12-31 04881460 bus:Director3 2023-12-31 04881460 2022-12-31 04881460 core:CurrentFinancialInstruments 2023-12-31 04881460 core:CurrentFinancialInstruments 2022-12-31 04881460 core:ShareCapital 2023-12-31 04881460 core:ShareCapital 2022-12-31 04881460 core:RetainedEarningsAccumulatedLosses 2023-12-31 04881460 core:RetainedEarningsAccumulatedLosses 2022-12-31 04881460 core:Vehicles 2022-12-31 04881460 core:FurnitureFittings 2022-12-31 04881460 core:OfficeEquipment 2022-12-31 04881460 core:Vehicles 2023-12-31 04881460 core:FurnitureFittings 2023-12-31 04881460 core:OfficeEquipment 2023-12-31 04881460 core:ImmediateParent core:CurrentFinancialInstruments 2023-12-31 04881460 core:ImmediateParent core:CurrentFinancialInstruments 2022-12-31 04881460 2023-01-01 2023-12-31 04881460 bus:FilletedAccounts 2023-01-01 2023-12-31 04881460 bus:SmallEntities 2023-01-01 2023-12-31 04881460 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04881460 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04881460 bus:Director1 2023-01-01 2023-12-31 04881460 bus:Director2 2023-01-01 2023-12-31 04881460 bus:Director3 2023-01-01 2023-12-31 04881460 core:Vehicles 2023-01-01 2023-12-31 04881460 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 04881460 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 04881460 2022-01-01 2022-12-31 04881460 core:FurnitureFittings 2023-01-01 2023-12-31 04881460 core:OfficeEquipment 2023-01-01 2023-12-31 04881460 core:Vehicles 1 2023-01-01 2023-12-31 04881460 core:FurnitureFittings 1 2023-01-01 2023-12-31 04881460 core:OfficeEquipment 1 2023-01-01 2023-12-31 04881460 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 04881460 (England and Wales)

SPECIALIST ACCESS & RESCUE PRODUCTS LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

SPECIALIST ACCESS & RESCUE PRODUCTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

SPECIALIST ACCESS & RESCUE PRODUCTS LTD

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
SPECIALIST ACCESS & RESCUE PRODUCTS LTD

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
DIRECTORS D Allport
L Allport
C Jones
SECRETARY G Allport
REGISTERED OFFICE 18 Fernthorpe Avenue
Uppermill
Oldham
United Kingdom
BUSINESS ADDRESS Serena House
Vulcan Street
Oldham
OL1 4LQ
COMPANY NUMBER 04881460 (England and Wales)
ACCOUNTANT MHA Moore and Smalley
Moore and Smalley
Richard House
9 Winckley Square
Preston
PR1 3HP
SPECIALIST ACCESS & RESCUE PRODUCTS LTD

BALANCE SHEET

AS AT 31 DECEMBER 2023
SPECIALIST ACCESS & RESCUE PRODUCTS LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 33,097 13,235
33,097 13,235
Current assets
Stocks 5 141,919 136,773
Debtors 6 208,018 118,212
Cash at bank and in hand 7 73,942 81,005
423,879 335,990
Creditors: amounts falling due within one year 8 ( 238,916) ( 173,515)
Net current assets 184,963 162,475
Total assets less current liabilities 218,060 175,710
Provision for liabilities ( 8,274) ( 1,642)
Net assets 209,786 174,068
Capital and reserves
Called-up share capital 100 100
Profit and loss account 209,686 173,968
Total shareholders' funds 209,786 174,068

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Specialist Access & Rescue Products Ltd (registered number: 04881460) were approved and authorised for issue by the Board of Directors on 29 February 2024. They were signed on its behalf by:

L Allport
Director
SPECIALIST ACCESS & RESCUE PRODUCTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
SPECIALIST ACCESS & RESCUE PRODUCTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Specialist Access & Rescue Products Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 18 Fernthorpe Avenue, Uppermill, Oldham, United Kingdom. The principal place of business is Serena House, Vulcan Street, Oldham, OL1 4LQ.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

4. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 January 2023 23,002 19,378 76,245 118,625
Additions 24,183 0 2,541 26,724
Rounding 0 0 0 0
At 31 December 2023 47,185 19,378 78,786 145,349
Accumulated depreciation
At 01 January 2023 18,567 19,200 67,623 105,390
Charge for the financial year 1,995 58 4,809 6,862
0 0 0 0
At 31 December 2023 20,562 19,258 72,432 112,252
Net book value
At 31 December 2023 26,623 120 6,354 33,097
At 31 December 2022 4,435 178 8,622 13,235

5. Stocks

2023 2022
£ £
Stocks 141,919 136,773

6. Debtors

2023 2022
£ £
Trade debtors 172,634 86,458
Amounts owed by Group undertakings 13,500 13,500
Other debtors 21,884 18,254
208,018 118,212

7. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 73,942 81,005

8. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 96,353 80,351
Amounts owed to Parent undertakings 89,995 63,995
Taxation and social security 48,328 25,110
Other creditors 4,240 4,059
238,916 173,515

9. Ultimate controlling party

Parent Company:

Alphin SAR Holdings Ltd
18 Fernthorpe Avenue, Uppermill, Oldham, OL3 6EA