Safeplot Limited
Unaudited Financial Statements
For the year ended 31 January 2024
Pages for Filing with Registrar
Company Registration No. 13943859 (England and Wales)
Safeplot Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
Safeplot Limited
Balance Sheet
As at 31 January 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
201,000
201,000
Current assets
Debtors
5
4,001
1
Creditors: amounts falling due within one year
6
(1,000)
Net current assets/(liabilities)
4,001
(999)
Net assets
205,001
200,001
Capital and reserves
Called up share capital
7
100
100
Share premium account
199,901
199,901
Profit and loss reserves
5,000
Total equity
205,001
200,001
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 26 September 2024 and are signed on its behalf by:
Mr K Weatherill
Director
Company Registration No. 13943859
Safeplot Limited
Statement of Changes in Equity
For the year ended 31 January 2024
Page 2
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 28 February 2022
-
Period ended 31 January 2023:
Profit and total comprehensive income for the period
-
-
Issue of share capital
7
100
-
100
Other movements
-
199,901
-
199,901
Balance at 31 January 2023
100
199,901
200,001
Year ended 31 January 2024:
Profit and total comprehensive income for the year
-
-
255,000
255,000
Dividends
-
-
(250,000)
(250,000)
Balance at 31 January 2024
100
199,901
5,000
205,001
Safeplot Limited
Notes to the Financial Statements
For the year ended 31 January 2024
Page 3
1
Accounting policies
Company information
Safeplot Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, United Kingdom, RM1 3PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of not less than 12 months following the approval of these financial statements. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.4
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 current liabilities.
1.5
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
Safeplot Limited
Notes to the Financial Statements (Continued)
For the year ended 31 January 2024
1
Accounting policies
(Continued)
Page 4
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2023: 0).
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
201,000
201,000
4
Subsidiaries
Details of the company's subsidiaries at 31 January 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Belhus Land Limited
England & Wales
Ordinary
51.00
The aggregate capital and reserves and the result for the year ended 28 February 2023 of the subsidiary noted above was as follows:
Belhus Land Limited
978,126
286,271
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,000
Other debtors
1
1
4,001
1
Safeplot Limited
Notes to the Financial Statements (Continued)
For the year ended 31 January 2024
Page 5
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,000
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
10,000
10,000
100
100
8
Related party transactions
Included in debtors is an amount of £4,000 (2023: £1,000 - creditor) due from Lakeside Property Development Co. Limited, a company related by common control.
9
Control
The Executors of the Estate of Mr R. Pledger were considered to be the ultimate controlling party at the previous balance sheet date by virtue of their 100% shareholding in the company.
On 28 April 2023 50% of the shares were transferred to Michael Sinclair and Moore Kingston Smith Trust Corporation Limited meaning effective from this date, The Executors of the Estate of Mr R. Pledger and Michael Sinclair and Moore Kingston Smith Trust Corporation Limited have an equal shareholding in the company of 50% each.