SAFETY FOR GROUP LTD
Company registration number 12731320 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SAFETY FOR GROUP LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SAFETY FOR GROUP LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
22,113
53,559
Investments
4
-
0
300
22,113
53,859
Current assets
Debtors
5
116,914
216,010
Cash at bank and in hand
3,759
15,976
120,673
231,986
Creditors: amounts falling due within one year
6
(105,968)
(77,383)
Net current assets
14,705
154,603
Total assets less current liabilities
36,818
208,462
Provisions for liabilities
-
0
(349)
Net assets
36,818
208,113
Capital and reserves
Called up share capital
7
137
137
Share premium account
507
507
Capital redemption reserve
39
39
Profit and loss reserves
36,135
207,430
Total equity
36,818
208,113
SAFETY FOR GROUP LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 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 6 March 2025 and are signed on its behalf by:
Mr M A Dyche
Director
Company registration number 12731320 (England and Wales)
SAFETY FOR GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Safety for Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Park View Business Centre, Combermere, Whitchurch, Shropshire, SY13 4AL.

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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
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:

Leasehold improvements
5% Straight Line and 20% Straight Line
Fixtures and fittings
15% Reducing Balance
IT Equipment
33% Straight Line

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.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

SAFETY FOR GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
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.

1.7
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.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

SAFETY FOR GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
12
3
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
IT Equipment
Total
£
£
£
£
Cost
At 1 October 2023
43,961
11,559
3,207
58,727
Additions
-
0
15,950
3,231
19,181
Disposals
(43,961)
(5,926)
-
0
(49,887)
At 30 September 2024
-
0
21,583
6,438
28,021
Depreciation and impairment
At 1 October 2023
2,189
1,664
1,315
5,168
Depreciation charged in the year
-
0
2,121
1,729
3,850
Eliminated in respect of disposals
(2,189)
(921)
-
0
(3,110)
At 30 September 2024
-
0
2,864
3,044
5,908
Carrying amount
At 30 September 2024
-
0
18,719
3,394
22,113
At 30 September 2023
41,772
9,895
1,892
53,559
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
-
0
300
SAFETY FOR GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 October 2023 & 30 September 2024
300
Impairment
At 1 October 2023
-
Impairment losses
300
At 30 September 2024
300
Carrying amount
At 30 September 2024
-
At 30 September 2023
300
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
78,364
84,429
Amounts owed by group undertakings
-
0
408
Other debtors
38,550
131,173
116,914
216,010
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
31,667
-
0
Trade creditors
9,606
7,530
Amounts owed to group undertakings
-
0
977
Taxation and social security
63,437
67,905
Other creditors
1,258
971
105,968
77,383
SAFETY FOR GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of 10p each
650
650
65
65
Ordinary B Shares of 10p each
350
350
35
35
Ordinary E Shares of 10p each
176
176
18
18
Ordinary F Shares of 10p each
194
194
19
19
1,370
1,370
137
137

The Ordinary A Shares and Ordinary B Shares have the same rights and privileges and rank pari passu for dividend entitlement purposes. Each share holds 3 voting rights and are entitled to participate in the first £1,000,000 of capital distribution arising from a sale or winding up of the company pro-rata to the shares in issue.

 

The Ordinary E Shares are non-redeemable, hold 1 voting right per share and are entitled to a share of capital in the event of a disposal of shares in Safety For Employers Ltd, a subsidiary of the Company, in excess of £750,000. The shares are eligible to receive dividends when declared on the class.

 

The Ordinary F Shares are non-redeemable, hold 1 voting right per share and are entitled to a share of capital in the event of a disposal of the shares in the Company. The shares are eligible to receive dividends when declared on the class.

8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
84,160
-
0
9
Directors' transactions

As at 30 September 2024 the company was owed £18,659 by the directors in respect of an interest free loan (2023: £122,358).

 

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