Principal Health & Safety Ltd 04658748 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is health and safety consultancy. Digita Accounts Production Advanced 6.30.9574.0 true true 04658748 2023-03-01 2024-02-29 04658748 2024-02-29 04658748 bus:OrdinaryShareClass1 2024-02-29 04658748 bus:OrdinaryShareClass2 2024-02-29 04658748 bus:OrdinaryShareClass3 2024-02-29 04658748 core:CurrentFinancialInstruments 2024-02-29 04658748 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 04658748 core:FurnitureFittingsToolsEquipment 2024-02-29 04658748 bus:SmallEntities 2023-03-01 2024-02-29 04658748 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04658748 bus:FilletedAccounts 2023-03-01 2024-02-29 04658748 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04658748 bus:RegisteredOffice 2023-03-01 2024-02-29 04658748 bus:Director7 2023-03-01 2024-02-29 04658748 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 04658748 bus:OrdinaryShareClass2 2023-03-01 2024-02-29 04658748 bus:OrdinaryShareClass3 2023-03-01 2024-02-29 04658748 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04658748 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 04658748 1 2023-03-01 2024-02-29 04658748 countries:AllCountries 2023-03-01 2024-02-29 04658748 2023-02-28 04658748 core:FurnitureFittingsToolsEquipment 2023-02-28 04658748 2022-03-01 2023-02-28 04658748 2023-02-28 04658748 bus:OrdinaryShareClass1 2023-02-28 04658748 bus:OrdinaryShareClass2 2023-02-28 04658748 bus:OrdinaryShareClass3 2023-02-28 04658748 core:CurrentFinancialInstruments 2023-02-28 04658748 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04658748 core:FurnitureFittingsToolsEquipment 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04658748

Principal Health & Safety Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Principal Health & Safety Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Principal Health & Safety Ltd

(Registration number: 04658748)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

12,870

Current assets

 

Debtors

5

96,233

216,379

Cash at bank and in hand

 

5

149,970

 

96,238

366,349

Creditors: Amounts falling due within one year

6

(46,040)

(147,665)

Net current assets

 

50,198

218,684

Total assets less current liabilities

 

50,198

231,554

Provisions for liabilities

-

(2,445)

Net assets

 

50,198

229,109

Capital and reserves

 

Called up share capital

7

296

296

Share premium reserve

49,902

49,902

Retained earnings

-

178,911

Shareholders' funds

 

50,198

229,109

For the financial year ending 29 February 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:
 

 

Principal Health & Safety Ltd

(Registration number: 04658748)
Balance Sheet as at 29 February 2024

.........................................
Mr Antony Bryant
Director

 

Principal Health & Safety Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

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

These financial statements were authorised for issue by the Board on 20 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Principal Health & Safety Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

25% reducing balance method

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.

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.

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.

 

Principal Health & Safety Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

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 10 (2023 - 12).

 

Principal Health & Safety Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

77,389

77,389

Transfers

(77,389)

(77,389)

At 29 February 2024

-

-

Depreciation

At 1 March 2023

64,519

64,519

Transfers

(64,519)

(64,519)

At 29 February 2024

-

-

Carrying amount

At 29 February 2024

-

-

At 28 February 2023

12,870

12,870

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

-

134,280

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

96,233

31,532

Prepayments

 

-

4,881

Other debtors

 

-

45,686

 

96,233

216,379

 

Principal Health & Safety Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

43,091

133,973

Accruals and deferred income

2,949

9,177

Other creditors

-

4,515

46,040

147,665

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

98

98

98

98

Ordinary C shares of £1 each

98

98

98

98

296

296

296

296

8

Parent and ultimate parent undertaking

The company's immediate parent is Construction Safety Solutions Limited, incorporated in England.