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REGISTERED NUMBER: 03648451 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

EIGER SAFETY LIMITED

EIGER SAFETY LIMITED (REGISTERED NUMBER: 03648451)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


EIGER SAFETY LIMITED (REGISTERED NUMBER: 03648451)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 528,464 537,397

CURRENT ASSETS
Debtors 6 263,138 164,707
Cash at bank and in hand 234,612 240,201
497,750 404,908
CREDITORS
Amounts falling due within one year 7 195,005 204,478
NET CURRENT ASSETS 302,745 200,430
TOTAL ASSETS LESS CURRENT
LIABILITIES

831,209

737,827

CREDITORS
Amounts falling due after more than one
year

8

(16,856

)

(35,999

)

PROVISIONS FOR LIABILITIES (8,424 ) (9,622 )
NET ASSETS 805,929 692,206

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 805,529 691,806
SHAREHOLDERS' FUNDS 805,929 692,206

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.

EIGER SAFETY LIMITED (REGISTERED NUMBER: 03648451)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:





P Jaffe - Director


EIGER SAFETY LIMITED (REGISTERED NUMBER: 03648451)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Eiger Safety Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03648451

Registered office: Unit 6
193 Garth Road Industrial Estate
Morden
Surrey
SM4 4LZ

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


All amounts in the financial statements have been rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The preparation of financial statements in compliance with Financial Reporting Standard 102 Section 1A requires the use of certain accounting estimates. It also requires the directors to exercise judgement in applying the company's accounting policies.

In preparing these financial statements, the directors have made the following judgements:

- Determine whether leases entered into by the company either as a lessor or a lessee are operating lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine whether there are indicators of impairment of the company's tangible and intangible assets, including goodwill. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

EIGER SAFETY LIMITED (REGISTERED NUMBER: 03648451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property- 1% on cost
Plant and machinery- 15% reducing balance
Fixtures and fittings- 15% reducing balance over lease term
Motor vehicles- 25% reducing balance
Computer equipment- 25% reducing balance

Financial instruments
Basic financial assets, which include trade debtors, other debtors and cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including trade creditors and other creditors, are initially recognised at transaction price and are subsequently recognised at amortised cost.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

The company has no borrowings other those at fixed interest rates and therefore the company is not exposed to any risk arising from the interest rate benchmark reform as LIBOR is replaced with alternative benchmark interest rates.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income , 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

EIGER SAFETY LIMITED (REGISTERED NUMBER: 03648451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Dividend
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 511,702 68,111 579,813
Additions - 6,578 6,578
Disposals - (1,882 ) (1,882 )
At 31 March 2024 511,702 72,807 584,509
DEPRECIATION
At 1 April 2023 12,793 29,623 42,416
Charge for year 5,117 9,926 15,043
Eliminated on disposal - (1,414 ) (1,414 )
At 31 March 2024 17,910 38,135 56,045
NET BOOK VALUE
At 31 March 2024 493,792 34,672 528,464
At 31 March 2023 498,909 38,488 537,397

EIGER SAFETY LIMITED (REGISTERED NUMBER: 03648451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 42,381
DEPRECIATION
At 1 April 2023 15,920
Charge for year 6,615
At 31 March 2024 22,535
NET BOOK VALUE
At 31 March 2024 19,846
At 31 March 2023 26,461

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 190,824 107,777
Amounts owed by group undertakings 36,317 -
Other debtors 35,997 56,930
263,138 164,707

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 4,454 5,972
Trade creditors 25,377 21,961
Amounts owed to group undertakings - 15,253
Taxation and social security 139,434 97,833
Other creditors 15,740 53,459
195,005 204,478

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 15,000 25,000
Hire purchase contracts (see note 9) 1,856 6,311
Other creditors - 4,688
16,856 35,999

EIGER SAFETY LIMITED (REGISTERED NUMBER: 03648451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:
Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 4,454 5,972
Between one and five years 1,856 6,311
6,310 12,283


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 6,310 12,283

The HP liabilities are secured on the assets acquired.

11. CONTINGENT LIABILITIES

A cross guarantee is in place with Barclays Bank plc to secure the monies owed to it by Eiger Vertical Solutions Limited. The bank loan is secured by a debenture giving a fixed and floating charge over the assets and undertaking of the company and a first legal charge over each of the properties owned by Eiger Safety Limited.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year amounts totalled £150,055 were advanced to directors and amounts totalled £164,639 were repaid. The company charged interest to the directors at 2.25% totalling £901.

At the balance sheet date the company owed £4,509 to the directors (2023: the company was owed £9,174 by the directors.)

13. PARENT COMPANY

Jaffe Holdings Limited, a company registered in England and Wales, is regarded by the directors as being the company's parent company. The registered office of Jaffe Holdings Limited is Unit 6,193 Garth Road Industrial Centre, Garth Road, Morden, Surrey, United Kingdom, SM4 4LZ.