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REGISTERED NUMBER: SC354139 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Safe & Protect Ltd

Safe & Protect Ltd (Registered number: SC354139)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountant's Report 11

Safe & Protect Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTOR: E Robertson





REGISTERED OFFICE: 95-97 Channel Street
Galashiels
TD1 1BN





REGISTERED NUMBER: SC354139 (Scotland)





ACCOUNTANT: Gall Robertson CA
Tweedside Park
Tweedbank
Galashiels
Selkirkshire
TD1 3TE

Safe & Protect Ltd (Registered number: SC354139)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 128 1,326
Tangible assets 5 54,814 48,746
Investment property 6 28,173 32,717
83,115 82,789

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 7 1,510,961 1,497,407
Prepayments and accrued income 3,136 2,232
Cash at bank 495,281 497,037
2,011,378 1,998,676
CREDITORS
Amounts falling due within one year 8 132,678 244,104
NET CURRENT ASSETS 1,878,700 1,754,572
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,961,815

1,837,361

CREDITORS
Amounts falling due after more than one
year

9

(13,333

)

(23,333

)

ACCRUALS AND DEFERRED INCOME (241,839 ) (252,145 )
NET ASSETS 1,706,643 1,561,883

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 - 4,544
Retained earnings 1,706,543 1,557,239
SHAREHOLDERS' FUNDS 1,706,643 1,561,883

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Safe & Protect Ltd (Registered number: SC354139)

Balance Sheet - continued
31 January 2024


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 director and authorised for issue on 18 September 2024 and were signed by:





E Robertson - Director


Safe & Protect Ltd (Registered number: SC354139)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Safe & Protect Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Registered Office:
10 Bridge Place
Galashiels
Selkirkshire
TD1 1SN

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 as modified by the revaluation of certain assets.

Going Concern
The directors have assessed a period of 12 months from the date of approval of the financial statements and consider that no material uncertainties exist that cast significant doubt about the ability of the company to continue as a going concern. Thus the directors adopt the going concern basis of accounting in preparing the financial statements.

Revenue
Turnover represents revenue recognised in respect of goods and services supplied during the period, exclusive of value added tax and trade discounts.

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.

Safe & Protect Ltd (Registered number: SC354139)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Short leasehold - 33% on cost
Plant and machinery - 33% on cost and 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost
Computer equipment - 25% on cost

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities including trade creditors and loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


Safe & Protect Ltd (Registered number: SC354139)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

Safe & Protect Ltd (Registered number: SC354139)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 3,630
AMORTISATION
At 1 February 2023 2,304
Charge for year 1,198
At 31 January 2024 3,502
NET BOOK VALUE
At 31 January 2024 128
At 31 January 2023 1,326

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 February 2023 5,144 28,520 5,283
Additions - - -
Disposals - - -
At 31 January 2024 5,144 28,520 5,283
DEPRECIATION
At 1 February 2023 5,144 15,326 4,379
Charge for year - 3,399 357
Eliminated on disposal - - -
At 31 January 2024 5,144 18,725 4,736
NET BOOK VALUE
At 31 January 2024 - 9,795 547
At 31 January 2023 - 13,194 904

Safe & Protect Ltd (Registered number: SC354139)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2023 63,850 7,865 110,662
Additions 41,375 641 42,016
Disposals (43,725 ) - (43,725 )
At 31 January 2024 61,500 8,506 108,953
DEPRECIATION
At 1 February 2023 30,702 6,365 61,916
Charge for year 9,652 886 14,294
Eliminated on disposal (22,071 ) - (22,071 )
At 31 January 2024 18,283 7,251 54,139
NET BOOK VALUE
At 31 January 2024 43,217 1,255 54,814
At 31 January 2023 33,148 1,500 48,746

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 32,717
Revaluations (4,544 )
At 31 January 2024 28,173
NET BOOK VALUE
At 31 January 2024 28,173
At 31 January 2023 32,717

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2022 28,173

If investment properties had not been revalued they would have been included at the following historical cost:

31.1.24 31.1.23
£    £   
Cost 28,173 68,008

Investment properties were valued on an open market basis on 31 January 2022 by the director .

Safe & Protect Ltd (Registered number: SC354139)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 275,131 313,411
Amounts owed by associates 833,719 861,655
Other debtors 402,111 322,341
1,510,961 1,497,407

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 48,519 71,969
Taxation and social security 71,952 129,151
Other creditors 2,207 32,984
132,678 244,104

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 13,333 23,333

10. RESERVES
Revaluation
reserve
£   
At 1 February 2023 4,544
Investment property (4,544 )

At 31 January 2024 -

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
E Robertson
Balance outstanding at start of year (167 ) 15,095
Amounts advanced 297,515 16,988
Amounts repaid (75,000 ) (32,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 222,348 (167 )

The loan has been repaid within 9 months of the year end and is provided interest free.

Safe & Protect Ltd (Registered number: SC354139)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

12. RELATED PARTY DISCLOSURES

During the year Mr and Mrs Robertson obtained a commercial loan from the company repayable on demand. Interest is payable quarterly in arrears based on the Bank of England base rate.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is E Robertson.

Chartered Accountant's Report to the Director
on the Unaudited Financial Statements of
Safe & Protect Ltd

The following reproduces the text of the report prepared for the director 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 Director 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, I have prepared for your approval the financial statements of Safe & Protect Ltd for the year ended 31 January 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 me.

As a practising member of ICAS, I am subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Safe & Protect Ltd in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Safe & Protect Ltd and state those matters that I have agreed to state to the director of Safe & Protect Ltd in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report.

It is your duty to ensure that Safe & Protect Ltd 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 Safe & Protect Ltd. You consider that Safe & Protect Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of Safe & Protect Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Gall Robertson CA
Tweedside Park
Tweedbank
Galashiels
Selkirkshire
TD1 3TE


18 September 2024