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REGISTERED NUMBER: SC422505 (Scotland)












Financial Statements for the Year Ended 31 March 2024

for

SAFETY RIGHT LTD

SAFETY RIGHT LTD (REGISTERED NUMBER: SC422505)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAFETY RIGHT LTD

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J M Frosdick
H G Frosdick





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC422505 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

SAFETY RIGHT LTD (REGISTERED NUMBER: SC422505)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,533 18,119

CURRENT ASSETS
Debtors 5 20,099 20,749
Cash at bank 3,385 15,486
23,484 36,235
CREDITORS
Amounts falling due within one year 6 25,865 30,724
NET CURRENT (LIABILITIES)/ASSETS (2,381 ) 5,511
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,152

23,630

CREDITORS
Amounts falling due after more than one
year

7

11,667

21,667
NET ASSETS 485 1,963

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 385 1,863
SHAREHOLDERS' FUNDS 485 1,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SAFETY RIGHT LTD (REGISTERED NUMBER: SC422505)

Balance Sheet - continued
31 March 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





J M Frosdick - Director


SAFETY RIGHT LTD (REGISTERED NUMBER: SC422505)

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

1. STATUTORY INFORMATION

Safety Right Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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 - 25% on cost and 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

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 2 (2023 - 2 ) .

SAFETY RIGHT LTD (REGISTERED NUMBER: SC422505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,255 48,800 26,300 76,355
Additions - - 1,940 1,940
Disposals - - (3,379 ) (3,379 )
At 31 March 2024 1,255 48,800 24,861 74,916
DEPRECIATION
At 1 April 2023 1,037 36,027 21,172 58,236
Charge for year 184 3,194 2,148 5,526
Eliminated on disposal - - (3,379 ) (3,379 )
At 31 March 2024 1,221 39,221 19,941 60,383
NET BOOK VALUE
At 31 March 2024 34 9,579 4,920 14,533
At 31 March 2023 218 12,773 5,128 18,119

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 20,099 20,749

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 12,057 10,276
Other creditors 3,808 10,448
25,865 30,724

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,667 21,667

SAFETY RIGHT LTD (REGISTERED NUMBER: SC422505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DEFERRED TAX
£   
Balance at 1 April 2023 (2,944 )
Provided during year (298 )
Balance at 31 March 2024 (3,242 )

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £15,400 (2023 - £19,500) were paid to the directors .

The company was under the control of J M Frosdick throughout the current and previous year.

During the year the company advanced the director net amounts totalling £8,106. As at 31 March 2024 included within other debtors is a balance outstanding due to the company of £1,308 (2023 - £6,798 creditor due to the director). Interest has been paid on this loan as per rates set by HMRC.