Switchsafe Group Limited 13947577 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is holding company Digita Accounts Production Advanced 6.30.9574.0 true true 13947577 2023-04-01 2024-03-31 13947577 2024-03-31 13947577 core:CurrentFinancialInstruments 2024-03-31 13947577 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13947577 bus:SmallEntities 2023-04-01 2024-03-31 13947577 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13947577 bus:FilletedAccounts 2023-04-01 2024-03-31 13947577 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13947577 bus:RegisteredOffice 2023-04-01 2024-03-31 13947577 bus:Director1 2023-04-01 2024-03-31 13947577 bus:Director3 2023-04-01 2024-03-31 13947577 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13947577 countries:EnglandWales 2023-04-01 2024-03-31 13947577 2022-03-01 2023-03-31 13947577 2023-03-31 13947577 core:CurrentFinancialInstruments 2023-03-31 13947577 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 13947577

Switchsafe Group Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Switchsafe Group Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Switchsafe Group Limited

Company Information

Directors

Mr Alexander George Derrick

Mr Jason Silcox

Registered office

Ground Floor Unit 21
Apex Court
Woodlands
Bristol
BS32 4JT

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Switchsafe Group Limited

(Registration number: 13947577)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

         

Current assets

   

Debtors

5

 

52,261

63,139

Cash at bank and in hand

   

1,970

1,086

   

54,231

64,225

Creditors: Amounts falling due within one year

6

 

(54,131)

(64,125)

Net assets

   

100

100

Capital and reserves

   

Called up share capital

100

 

100

Shareholders' funds

   

100

100

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 November 2024 and signed on its behalf by:
 

.........................................

Mr Alexander George Derrick
Director

 

Switchsafe Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor Unit 21
Apex Court
Woodlands
Bristol
BS32 4JT

These financial statements were authorised for issue by the Board on 18 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Switchsafe Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

The company operates a company payroll scheme. The gross wages, employers National Insurance, and employers pension costs are recharged in full to the group companies Switchsafe Environmental Limited and Switchsafe Water Treatment Limited.

4

Investments

The company owns 100% of the issued share capital of Switchsafe Environmental Limited, Switchsafe Water Treatment Limited and Switchsafe Technical Services Limited.

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts only show information about the company as an individual entity.

5

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings

7

52,161

62,996

Other debtors

 

100

143

 

52,261

63,139

 

Switchsafe Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings

7

52,000

60,000

Taxation and social security

 

1,683

3,987

Other creditors

 

448

138

 

54,131

64,125

7

Related party transactions

The company was under the control of Mr R J Pratt, Mr A G Derrick and Property Solutions Management Group Limited during the year.

As at the year end the company owed £52,000 (2023: £60,000) to Property Solutions Management Group Limited. This amount is included in 'Amounts owed to group undertakings'.

Advantage has been taken of the exemption in FRS102 to not disclose transactions that are with companies 100% owned by the group.