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Registered Number: SC195721
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 May 2024

for

SAFETY AT SEA LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 4,667    5,306 
4,667    5,306 
Current assets      
Debtors 238,614    96,897 
Cash at bank and in hand 523,615    288,691 
762,229    385,588 
Creditors: amount falling due within one year (106,440)   (26,415)
Net current assets 655,789    359,173 
 
Total assets less current liabilities 660,456    364,479 
Accruals and deferred income   (17,391)
Provisions for liabilities (887)   (1,008)
Net assets 659,569    346,080 
 

Capital and reserves
     
Called up share capital 75    75 
Capital Redemption Reserve 25    25 
Profit and loss account 659,469    345,980 
Shareholders' funds 659,569    346,080 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 and loss account has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 27 February 2025 and were signed by:


-------------------------------
Vittorio Vagliani
Director
1
General Information
Safety at Sea Limited is a private company, limited by shares, registered in England and Wales, registration number SC195721, registration address 272 Bath Street, GLASGOW, Scotland, G2 4JR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its expected useful life.
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 3 Years Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 7 (2023 : 7).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 June 2023 1,375    8,943    10,318 
Additions 425    3,421    3,846 
Disposals    
At 31 May 2024 1,800    12,364    14,164 
Depreciation
At 01 June 2023 344    4,668    5,012 
Charge for year 364    4,121    4,485 
On disposals    
At 31 May 2024 708    8,789    9,497 
Net book values
Closing balance as at 31 May 2024 1,092    3,575    4,667 
Opening balance as at 01 June 2023 1,031    4,275    5,306 


2