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REGISTERED NUMBER: 07343611 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

SAFEGUARD ELECTRICAL ENGINEERING LTD

SAFEGUARD ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: 07343611)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SAFEGUARD ELECTRICAL ENGINEERING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: M Evans





REGISTERED OFFICE: Yew Tree House
The Shubbery
10 Church Street
St Neots
Cambridgeshire
PE19 2BU





REGISTERED NUMBER: 07343611 (England and Wales)





ACCOUNTANTS: Bradshaw Johnson
Chartered Accountants
Croft Chambers
11 Bancroft
Hitchin
Hertfordshire
SG5 1JQ

SAFEGUARD ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: 07343611)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 100,993 44,692
100,993 44,692

CURRENT ASSETS
Stocks 4,638 11,514
Debtors 6 86,546 121,698
Cash at bank 167,912 127,981
259,096 261,193
CREDITORS
Amounts falling due within one year 7 124,838 98,259
NET CURRENT ASSETS 134,258 162,934
TOTAL ASSETS LESS CURRENT
LIABILITIES

235,251

207,626

CREDITORS
Amounts falling due after more than one year 8 (9,491 ) (17,879 )

PROVISIONS FOR LIABILITIES (25,248 ) (8,491 )
NET ASSETS 200,512 181,256

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 200,511 181,255
SHAREHOLDERS' FUNDS 200,512 181,256

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SAFEGUARD ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: 07343611)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 November 2024 and were signed by:





M Evans - Director


SAFEGUARD ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: 07343611)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Safeguard Electrical Engineering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Plant and machinery - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

SAFEGUARD ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: 07343611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 32,500
AMORTISATION
At 1 March 2023
and 29 February 2024 32,500
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 671 18,491 65,670 983 85,815
Additions 1,000 302 85,596 313 87,211
Disposals - - (8,042 ) - (8,042 )
At 29 February 2024 1,671 18,793 143,224 1,296 164,984
DEPRECIATION
At 1 March 2023 381 13,276 27,398 68 41,123
Charge for year 251 1,785 21,511 259 23,806
Eliminated on disposal - - (938 ) - (938 )
At 29 February 2024 632 15,061 47,971 327 63,991
NET BOOK VALUE
At 29 February 2024 1,039 3,732 95,253 969 100,993
At 28 February 2023 290 5,215 38,272 915 44,692

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 52,999 89,223
Amounts recoverable on contract 23,840 27,877
Other debtors 9,707 4,598
86,546 121,698

SAFEGUARD ELECTRICAL ENGINEERING LTD (REGISTERED NUMBER: 07343611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts (see note 9) 5,661 5,661
Trade creditors 15,478 37,898
Taxation and social security 10,320 9,804
Other creditors 93,379 44,896
124,838 98,259

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts (see note 9) 9,234 14,895
Other creditors 257 2,984
9,491 17,879

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year 5,661 5,661
Between one and five years 9,234 14,895
14,895 20,556

10. RELATED PARTY DISCLOSURES

The director, M Evans, owns 100% of the issued share capital and therefore controls the company.