Company registration number 03255471 (England and Wales)
SAFE T REACH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
SAFE T REACH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
SAFE T REACH LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
677,564
638,328
Current assets
Debtors
5
132,101
180,051
Cash at bank and in hand
103,562
73,741
235,663
253,792
Creditors: amounts falling due within one year
6
(119,175)
(233,552)
Net current assets
116,488
20,240
Total assets less current liabilities
794,052
658,568
Creditors: amounts falling due after more than one year
7
(138,089)
(15,911)
Provisions for liabilities
(81,729)
(72,277)
Net assets
574,234
570,380
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
573,234
569,380
Total equity
574,234
570,380
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SAFE T REACH LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 13 January 2025
Mr G A Wilding
Director
Company Registration No. 03255471
SAFE T REACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information
Safe T Reach Limited is a private company limited by shares incorporated in England and Wales. The registered office is 63 Old North Road, Wansford, Peterborough, United Kingdom, PE8 6LB.
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 represents net invoiced sales of services, excluding value added tax.
1.3
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life of, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property
not provided
Plant and machinery
at variable rates on reducing balance
Fixtures and fittings
20% on cost
Motor vehicles
20% on reducing balance
1.4
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly or equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax
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 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.
SAFE T REACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
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.
1.6
Leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is 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:
2024
2023
Number
Number
Total
3
3
SAFE T REACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
4
Tangible fixed assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2023
200,000
1,028,971
39,281
110,600
1,378,852
Additions
108,195
452
108,647
Disposals
(5,700)
(5,700)
At 31 October 2024
200,000
1,131,466
39,733
110,600
1,481,799
Depreciation and impairment
At 1 November 2023
625,822
38,049
76,653
740,524
Depreciation charged in the year
60,346
6,789
67,135
Eliminated in respect of disposals
(3,424)
(3,424)
At 31 October 2024
682,744
38,049
83,442
804,235
Carrying amount
At 31 October 2024
200,000
448,722
1,684
27,158
677,564
At 31 October 2023
200,000
403,149
1,232
33,947
638,328
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
132,101
180,051
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Obligations under finance leases
8
51,868
121,633
Trade creditors
26,050
40,511
Corporation tax
3,959
10,292
Other taxation and social security
19,004
28,220
Other creditors
4,294
33
Accruals and deferred income
4,000
22,863
119,175
233,552
SAFE T REACH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
5,878
15,911
Obligations under finance leases
8
132,211
138,089
15,911
8
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
51,868
28,693
In two to five years
132,211
92,940
184,079
121,633
The finance lease obligations are secured under normal commercial terms.