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Registration number: 06599959

Construction Safety Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Construction Safety Solutions Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Construction Safety Solutions Limited

(Registration number: 06599959)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,879

4,225

Investments

5

571,580

571,580

 

574,459

575,805

Current assets

 

Debtors

6

709,650

570,083

Cash at bank and in hand

 

653,689

288,140

 

1,363,339

858,223

Creditors: Amounts falling due within one year

7

(462,235)

(246,476)

Net current assets

 

901,104

611,747

Total assets less current liabilities

 

1,475,563

1,187,552

Creditors: Amounts falling due after more than one year

7

(174,159)

(248,542)

Net assets

 

1,301,404

939,010

Capital and reserves

 

Called up share capital

8

20,000

20,000

Capital redemption reserve

10,000

10,000

Retained earnings

1,271,404

909,010

Shareholders' funds

 

1,301,404

939,010

For the financial year ending 30 June 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 20 November 2024 and signed on its behalf by:
 

 

Construction Safety Solutions Limited

(Registration number: 06599959)
Balance Sheet as at 30 June 2024

.........................................
A Bryant
Director

 

Construction Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
A4 Rowood Estate
Murdock Road
Bicester
OX26 4PP

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Construction Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% straight line

Motor vehicles

20% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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. 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.

 

Construction Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 17).

 

Construction Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

22,017

36,183

58,200

At 30 June 2024

22,017

36,183

58,200

Depreciation

At 1 July 2023

21,021

32,954

53,975

Charge for the year

269

1,077

1,346

At 30 June 2024

21,290

34,031

55,321

Carrying amount

At 30 June 2024

727

2,152

2,879

At 30 June 2023

996

3,229

4,225

5

Investments

2024
£

2023
£

Investments in subsidiaries

571,580

571,580

Subsidiaries

£

Cost or valuation

At 1 July 2023

571,580

Provision

Carrying amount

At 30 June 2024

571,580

At 30 June 2023

571,580

 

Construction Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Debtors

2024
£

2023
£

Trade debtors

344,241

231,499

Prepayments

20,904

20,904

Other debtors

344,505

317,680

709,650

570,083

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

80,500

80,000

Trade creditors

 

45,420

40,973

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

96,233

27,299

Taxation and social security

 

226,852

85,546

Accruals and deferred income

 

3,320

3,320

Other creditors

 

9,910

9,338

 

462,235

246,476

Creditors include bank loans and overdrafts which are secured, over certain assets of the company and director guarantees of £80,500 (2023 - £80,000).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

174,159

248,542

Creditors include bank loans which are secured over certain assets of the company and director guarantees of £174,159 (2023 - £248,542)

 

Construction Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £100 each

200

20,000

200

20,000

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

174,159

248,542

Current loans and borrowings

2024
£

2023
£

Bank borrowings

80,500

80,000

10

Dividends

2024

2023

£

£

Interim dividend of £10.00 (2023 - £70.00) per ordinary share

2,000

14,000

 

 

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of non-cancellable operating lease financial commitments not included in the balance sheet is £71,480 (2023 - £14,554).

 

Construction Safety Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

12

Related party transactions

Summary of transactions with subsidiaries

Principal Health & Safety Limited
 In the year CSS borrowed £68,934 (2023: £27,299). At the end of the year CSS Ltd owed PHS Ltd £96,233 (2023: £27,299)
 

Loans to related parties

2024

Key management
£

Total
£

At start of period

134,455

134,455

Advanced

10,500

10,500

Repaid

(624)

(624)

Interest transactions

3,485

3,485

At end of period

147,816

147,816

2023

Key management
£

Total
£

At start of period

122,039

122,039

Advanced

10,500

10,500

Repaid

(624)

(624)

Interest transactions

2,540

2,540

At end of period

134,455

134,455