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REGISTERED NUMBER: SC311985 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SAFETYNET SCOTLAND LIMITED

SAFETYNET SCOTLAND LIMITED (REGISTERED NUMBER: SC311985)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

SAFETYNET SCOTLAND LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mr C Cooper
Mrs J Cooper





REGISTERED OFFICE: Unit 2, The Venue
Grandholm Crescent
Aberdeen
AB22 8AA





REGISTERED NUMBER: SC311985 (Scotland)





ACCOUNTANTS: Acumen Accountants & Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

SAFETYNET SCOTLAND LIMITED (REGISTERED NUMBER: SC311985)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,508 20,066
Tangible assets 5 38,467 35,901
54,975 55,967

CURRENT ASSETS
Debtors 6 37,200 50,749
Cash at bank 328,857 320,353
366,057 371,102
CREDITORS
Amounts falling due within one year 7 82,270 73,714
NET CURRENT ASSETS 283,787 297,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,762

353,355

CREDITORS
Amounts falling due after more than one year 8 (16,514 ) (26,623 )

PROVISIONS FOR LIABILITIES (13,744 ) (3,051 )
NET ASSETS 308,504 323,681

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 308,404 323,581
SHAREHOLDERS' FUNDS 308,504 323,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





Mrs J Cooper - Director


SAFETYNET SCOTLAND LIMITED (REGISTERED NUMBER: SC311985)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Safetynet Scotland Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on cost
Computer equipment - 20% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

SAFETYNET SCOTLAND LIMITED (REGISTERED NUMBER: SC311985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2023 27,040
Additions 7,400
At 31 March 2024 34,440
AMORTISATION
At 1 April 2023 6,974
Amortisation for year 10,958
At 31 March 2024 17,932
NET BOOK VALUE
At 31 March 2024 16,508
At 31 March 2023 20,066

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 180 58,744 26,924 12,247 98,095
Additions - 308 13,495 499 14,302
Disposals - (18,016 ) - (587 ) (18,603 )
At 31 March 2024 180 41,036 40,419 12,159 93,794
DEPRECIATION
At 1 April 2023 160 32,277 22,072 7,685 62,194
Charge for year 20 4,572 3,997 1,592 10,181
Eliminated on disposal - (16,597 ) - (451 ) (17,048 )
At 31 March 2024 180 20,252 26,069 8,826 55,327
NET BOOK VALUE
At 31 March 2024 - 20,784 14,350 3,333 38,467
At 31 March 2023 20 26,467 4,852 4,562 35,901

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 29,545 20,894
Other debtors 11 25,000
Prepayments 7,644 4,855
37,200 50,749

SAFETYNET SCOTLAND LIMITED (REGISTERED NUMBER: SC311985)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,098 9,849
Trade creditors 447 -
Tax 31,021 25,589
Social security and other taxes 4,344 1,472
VAT 26,563 22,202
Other creditors 936 1,471
Directors' current accounts 5,637 5,070
Deferred income - 1,800
Accrued expenses 3,224 6,261
82,270 73,714

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,354 10,098
Bank loans - 2-5 years 6,160 16,525
16,514 26,623

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr C Cooper
Balance outstanding at start of year (305 ) (620 )
Amounts advanced 46 627
Amounts repaid (312 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (571 ) (305 )

Mrs J Cooper
Balance outstanding at start of year (4,765 ) (4,453 )
Amounts advanced 11 -
Amounts repaid (312 ) (312 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,066 ) (4,765 )

The directors loan is interest free with no fixed term of repayment.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SAFETYNET SCOTLAND LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Safetynet Scotland Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Safetynet Scotland Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Safetynet Scotland Limited and state those matters that we have agreed to state to the Board of Directors of Safetynet Scotland Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Safetynet Scotland Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Safetynet Scotland Limited. You consider that Safetynet Scotland Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Safetynet Scotland Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Acumen Accountants & Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


20 September 2024