Company Registration No. 08359713 (England and Wales)
Safeseal Frames Limited
Unaudited accounts
for the year ended 31 January 2024
Safeseal Frames Limited
Unaudited accounts
Contents
Safeseal Frames Limited
Company Information
for the year ended 31 January 2024
Company Number
08359713 (England and Wales)
Registered Office
Safeseal Frames Ltd
Unit 5
Station Yard, Wilbraham Road, Fulbourn
Cambridge
Cambridgeshire
CB21 5ET
England
Accountants
Coles Accounting (Cambridge) Limited
Newton Hall
Town Street, Newton
Cambridge
Cambridgeshire
CB22 7ZE
Safeseal Frames Limited
Statement of financial position
as at 31 January 2024
Tangible assets
56,076
69,803
Cash at bank and in hand
(98)
457
Creditors: amounts falling due within one year
(197,424)
(44,254)
Net current (liabilities)/assets
(53,456)
6,521
Total assets less current liabilities
2,620
76,324
Creditors: amounts falling due after more than one year
(36,702)
(68,955)
Net (liabilities)/assets
(34,082)
7,369
Called up share capital
1,000
1,000
Profit and loss account
(35,082)
6,369
Shareholders' funds
(34,082)
7,369
For the year ending 31 January 2024 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 7 October 2024 and were signed on its behalf by
Samuel Carpenter
Director
Company Registration No. 08359713
Safeseal Frames Limited
Notes to the Accounts
for the year ended 31 January 2024
Safeseal Frames Limited is a private company, limited by shares, registered in England and Wales, registration number 08359713. The registered office is Safeseal Frames Ltd, Unit 5, Station Yard, Wilbraham Road, Fulbourn, Cambridge, Cambridgeshire, CB21 5ET, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor vehicles
20% reducing balance
Fixtures & fittings
20% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Safeseal Frames Limited
Notes to the Accounts
for the year ended 31 January 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2023
189,667
-
189,667
At 31 January 2024
189,667
292
189,959
At 1 February 2023
119,864
-
119,864
Charge for the year
13,961
58
14,019
At 31 January 2024
133,825
58
133,883
At 31 January 2024
55,842
234
56,076
At 31 January 2023
69,803
-
69,803
Amounts falling due within one year
Trade debtors
106,122
32,818
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,143
7,150
Obligations under finance leases and hire purchase contracts
9,112
-
Trade creditors
134,503
13,565
Taxes and social security
9,275
8,110
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
8,281
-
Safeseal Frames Limited
Notes to the Accounts
for the year ended 31 January 2024
8
Average number of employees
During the year the average number of employees was 6 (2023: 8).