Safecontrol Limited 02047838 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is electrical and instrumentation engineering Digita Accounts Production Advanced 6.30.9574.0 true 02047838 2023-09-01 2024-08-31 02047838 2024-08-31 02047838 bus:Director1 1 2024-08-31 02047838 core:RetainedEarningsAccumulatedLosses 2024-08-31 02047838 core:ShareCapital 2024-08-31 02047838 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-08-31 02047838 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-08-31 02047838 core:CurrentFinancialInstruments 2024-08-31 02047838 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 02047838 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 02047838 core:FurnitureFittingsToolsEquipment 2024-08-31 02047838 core:MotorVehicles 2024-08-31 02047838 bus:SmallEntities 2023-09-01 2024-08-31 02047838 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 02047838 bus:FilletedAccounts 2023-09-01 2024-08-31 02047838 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 02047838 bus:RegisteredOffice 2023-09-01 2024-08-31 02047838 bus:Director1 2023-09-01 2024-08-31 02047838 bus:Director1 1 2023-09-01 2024-08-31 02047838 bus:Director2 2023-09-01 2024-08-31 02047838 bus:Director3 2023-09-01 2024-08-31 02047838 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02047838 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 02047838 core:MotorVehicles 2023-09-01 2024-08-31 02047838 core:PlantMachinery 2023-09-01 2024-08-31 02047838 countries:EnglandWales 2023-09-01 2024-08-31 02047838 2023-08-31 02047838 bus:Director1 1 2023-08-31 02047838 core:FurnitureFittingsToolsEquipment 2023-08-31 02047838 core:MotorVehicles 2023-08-31 02047838 2022-09-01 2023-08-31 02047838 2023-08-31 02047838 bus:Director1 1 2023-08-31 02047838 core:RetainedEarningsAccumulatedLosses 2023-08-31 02047838 core:ShareCapital 2023-08-31 02047838 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 02047838 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-08-31 02047838 core:CurrentFinancialInstruments 2023-08-31 02047838 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 02047838 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 02047838 core:FurnitureFittingsToolsEquipment 2023-08-31 02047838 core:MotorVehicles 2023-08-31 02047838 bus:Director1 1 2022-09-01 2023-08-31 02047838 bus:Director1 1 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 02047838

Safecontrol Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Safecontrol Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Safecontrol Limited

Company Information

Directors

D Abell

L A Bankhurst

A Thomas

Registered office

Tattershall Way
Fairfield Industrial Estate
Louth
Lincolnshire
LN11 0YZ

 

Safecontrol Limited

(Registration number: 02047838)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

251,714

164,174

Current assets

 

Stocks

6

46,000

50,000

Debtors

7

296,407

460,583

Cash at bank and in hand

 

42,505

33,407

 

384,912

543,990

Creditors: Amounts falling due within one year

8

(261,078)

(202,673)

Net current assets

 

123,834

341,317

Total assets less current liabilities

 

375,548

505,491

Creditors: Amounts falling due after more than one year

8

(58,758)

(31,291)

Provisions for liabilities

(57,052)

(41,044)

Net assets

 

259,738

433,156

Capital and reserves

 

Called up share capital

100

100

Retained earnings

259,638

433,056

Shareholders' funds

 

259,738

433,156

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 April 2025 and signed on its behalf by:
 

.........................................
D Abell
Director

.........................................
L A Bankhurst
Director

.........................................
A Thomas
Director

     
 

Safecontrol Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 02047838.

The address of its registered office is:
Tattershall Way
Fairfield Industrial Estate
Louth
Lincolnshire
LN11 0YZ
England

These financial statements cover the individual entity, Safecontrol Limited.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Safecontrol Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Safecontrol Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Safecontrol Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 22 (2023 - 21).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

61,076

44,938

 

Safecontrol Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

157,398

281,472

438,870

Additions

1,989

162,238

164,227

Disposals

-

(72,299)

(72,299)

At 31 August 2024

159,387

371,411

530,798

Depreciation

At 1 September 2023

141,784

132,912

274,696

Charge for the year

4,397

56,679

61,076

Eliminated on disposal

-

(56,688)

(56,688)

At 31 August 2024

146,181

132,903

279,084

Carrying amount

At 31 August 2024

13,206

238,508

251,714

At 31 August 2023

15,614

148,560

164,174

6

Stocks

2024
£

2023
£

Work in progress

44,000

48,000

Finished goods and goods for resale

2,000

2,000

46,000

50,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

262,634

397,651

Prepayments

6,236

42,313

Other debtors

27,537

20,619

 

296,407

460,583

 

Safecontrol Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

46,765

31,537

Trade creditors

 

169,826

53,912

Social security and other taxes

 

27,840

49,987

Outstanding defined contribution pension costs

 

1,114

988

Other payables

 

12,140

7,706

Accruals

 

3,393

4,741

Income tax liability

-

53,802

 

261,078

202,673

Due after one year

 

Loans and borrowings

9

58,758

31,291

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £45,794 (2023 -£27,608).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

58,758

31,291

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £58,758 (2023 - £31,291).

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Hire purchase contracts

58,758

31,291

2024
£

2023
£

Current loans and borrowings

Hire purchase contracts

45,794

27,608

Other borrowings

971

3,929

46,765

31,537

 

Safecontrol Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

10

Related party transactions

Transactions with Directors

2024

At 1 September 2023
£

Advances to Director
£

Repayments by Director
£

At 31 August 2024
£

D Abell

DLA

(346)

(92,243)

85,325

(7,264)

2023

At 1 September 2022
£

Advances to Director
£

Repayments by Director
£

At 31 August 2023
£

D Abell

DLA

(21)

(47,000)

46,675

(346)