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B SAFE ELECTRICAL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






B SAFE ELECTRICAL LTD (REGISTERED NUMBER: 12379631)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


B SAFE ELECTRICAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: L N McComb





REGISTERED OFFICE: 11 Kings View
Halifax
West Yorkshire
HX3 9RU





REGISTERED NUMBER: 12379631 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

B SAFE ELECTRICAL LTD (REGISTERED NUMBER: 12379631)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 6,961 9,182

CURRENT ASSETS
Debtors 6 46,330 34,867
Cash at bank 5,176 56,717
51,506 91,584
CREDITORS
Amounts falling due within one year 7 54,140 93,131
NET CURRENT LIABILITIES (2,634 ) (1,547 )
TOTAL ASSETS LESS CURRENT LIABILITIES 4,327 7,635

CREDITORS
Amounts falling due after more than one
year

8

4,250

7,250
NET ASSETS 77 385

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 76 384
SHAREHOLDERS' FUNDS 77 385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

B SAFE ELECTRICAL LTD (REGISTERED NUMBER: 12379631)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





L N McComb - Director


B SAFE ELECTRICAL LTD (REGISTERED NUMBER: 12379631)

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


1. STATUTORY INFORMATION

B Safe Electrical Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Motor vehicles - 25% on reducing balance

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

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

B SAFE ELECTRICAL LTD (REGISTERED NUMBER: 12379631)

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


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 876 15,000 15,876
DEPRECIATION
At 1 January 2023 131 6,563 6,694
Charge for year 112 2,109 2,221
At 31 December 2023 243 8,672 8,915
NET BOOK VALUE
At 31 December 2023 633 6,328 6,961
At 31 December 2022 745 8,437 9,182

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 22,975 20,016
Other debtors 20,234 14,851
VAT 3,121 -
46,330 34,867

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 3,000 3,000
Trade creditors 8,057 9,580
Tax 2,600 1,916
VAT - 5,536
Other creditors 117 11,351
Directors' current accounts 38,132 59,392
Accrued expenses 2,234 2,356
54,140 93,131

Loans from directors are interest free and repayable on demand.

B SAFE ELECTRICAL LTD (REGISTERED NUMBER: 12379631)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 3,000 3,000
Bank loans - 2-5 years 1,250 4,250
4,250 7,250

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary 1 1 1