Company registration number 09783675 (England and Wales)
SAFEGUARDING ASSOCIATES FOR EXCELLENCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
SAFEGUARDING ASSOCIATES FOR EXCELLENCE LIMITED
COMPANY INFORMATION
Directors
Mr S B Snell
Mrs J M Snell
Company number
09783675
Registered office
Quay House
Quay Road
Newton Abbot
Devon
TQ12 2BU
Accountants
Darnells Chartered Accountants
3rd Floor
The Forum
Barnfield Road
Exeter
Devon
EX1 1QR
SAFEGUARDING ASSOCIATES FOR EXCELLENCE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SAFEGUARDING ASSOCIATES FOR EXCELLENCE LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
375
Tangible assets
5
49,991
59,955
50,366
59,955
Current assets
Debtors
6
12,722
17,149
Cash at bank and in hand
79,769
69,180
92,491
86,329
Creditors: amounts falling due within one year
7
(49,204)
(49,481)
Net current assets
43,287
36,848
Total assets less current liabilities
93,653
96,803
Creditors: amounts falling due after more than one year
8
(27,360)
(36,480)
Net assets
66,293
60,323
Capital and reserves
Called up share capital
4
4
Profit and loss reserves
66,289
60,319
Total equity
66,293
60,323
SAFEGUARDING ASSOCIATES FOR EXCELLENCE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 22 November 2024 and are signed on its behalf by:
Mrs J M Snell
Director
Company registration number 09783675 (England and Wales)
SAFEGUARDING ASSOCIATES FOR EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information
Safeguarding Associates for Excellence Limited is a private company limited by shares incorporated in England and Wales. The registered office is Quay House, Quay Road, Newton Abbot, Devon, TQ12 2BU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
Four years straightline basis
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
Five years straightline basis
Fixtures and fittings
Four years straightline basis
Computers
Four years straightline basis
Motor vehicles
Four years straightline basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
SAFEGUARDING ASSOCIATES FOR EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and 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.
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
SAFEGUARDING ASSOCIATES FOR EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 4 (2023:4)
2024
2023
Number
Number
Total
4
4
4
Intangible fixed assets
Other
£
Cost
At 1 September 2023
Additions
450
At 31 August 2024
450
Amortisation and impairment
At 1 September 2023
Amortisation charged for the year
75
At 31 August 2024
75
Carrying amount
At 31 August 2024
375
At 31 August 2023
SAFEGUARDING ASSOCIATES FOR EXCELLENCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 6 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2023
61,697
Additions
1,134
Disposals
(565)
At 31 August 2024
62,266
Depreciation and impairment
At 1 September 2023
1,742
Depreciation charged in the year
10,533
At 31 August 2024
12,275
Carrying amount
At 31 August 2024
49,991
At 31 August 2023
59,955
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
10,395
11,576
Other debtors
2,327
5,573
12,722
17,149
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,335
Corporation tax
17,197
Other taxation and social security
10,705
6,913
Other creditors
21,302
41,233
49,204
49,481
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
27,360
36,480