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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
Page
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Safeseal Frames Limited Company Information for the year ended 31 January 2024
Director
Samuel Carpenter
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
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Safeseal Frames Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
56,076 
69,803 
Current assets
Inventories
27,000 
17,500 
Debtors
117,066 
32,818 
Cash at bank and in hand
(98)
457 
143,968 
50,775 
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 
Capital and reserves
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
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Safeseal Frames Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
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.
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.
Turnover
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
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.
Leased assets
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.
Pension costs
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.
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Safeseal Frames Limited Notes to the Accounts for the year ended 31 January 2024
Financial instruments
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 
Additions
- 
292 
292 
At 31 January 2024
189,667 
292 
189,959 
Depreciation
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 
Net book value
At 31 January 2024
55,842 
234 
56,076 
At 31 January 2023
69,803 
- 
69,803 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
106,122 
32,818 
Other debtors
10,944 
- 
117,066 
32,818 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
7,143 
7,150 
VAT
33,964 
15,429 
Obligations under finance leases and hire purchase contracts
9,112 
- 
Trade creditors
134,503 
13,565 
Taxes and social security
9,275 
8,110 
Other creditors
3,427 
- 
197,424 
44,254 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
28,421 
33,912 
Obligations under finance leases and hire purchase contracts
8,281 
- 
Other creditors
- 
35,043 
36,702 
68,955 
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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).
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