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Company Registration No. 02005633 (England and Wales)
Safechem Limited Unaudited accounts for the year ended 31 January 2025
Safechem Limited Unaudited accounts Contents
Page
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Safechem Limited Company Information for the year ended 31 January 2025
Directors
Nigel Bruce Christine Bruce Jonathon Bruce Emma Lumley
Company Number
02005633 (England and Wales)
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Safechem Limited Accountants' report
Accountants' report to the board of directors of Safechem Limited (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 January 2025.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 January 2025. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
30 April 2025
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Safechem Limited Statement of financial position as at 31 January 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
714,557 
801,282 
Current assets
Inventories
896,038 
901,654 
Debtors
681,719 
716,208 
Cash at bank and in hand
3,110,979 
2,541,206 
4,688,736 
4,159,068 
Creditors: amounts falling due within one year
(990,270)
(955,762)
Net current assets
3,698,466 
3,203,306 
Net assets
4,413,023 
4,004,588 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
4,412,023 
4,003,588 
Shareholders' funds
4,413,023 
4,004,588 
For the year ending 31 January 2025 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2025 and were signed on its behalf by
Nigel Bruce Director Company Registration No. 02005633
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Safechem Limited Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
Safechem Limited is a private company, limited by shares, registered in England and Wales, registration number 02005633.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 February 2024
7,500 
At 31 January 2025
7,500 
Amortisation
At 1 February 2024
7,500 
At 31 January 2025
7,500 
Net book value
At 31 January 2025
- 
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Safechem Limited Notes to the Accounts for the year ended 31 January 2025
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 February 2024
757,705 
159,239 
583,816 
1,500,760 
At 31 January 2025
757,705 
159,239 
583,816 
1,500,760 
Depreciation
At 1 February 2024
260,954 
145,592 
292,932 
699,478 
Charge for the year
10,592 
3,412 
72,721 
86,725 
At 31 January 2025
271,546 
149,004 
365,653 
786,203 
Net book value
At 31 January 2025
486,159 
10,235 
218,163 
714,557 
At 31 January 2024
496,751 
13,647 
290,884 
801,282 
6
Debtors
2025 
2024 
£ 
£ 
Amounts falling due within one year
Trade debtors
620,154 
610,303 
Amounts due from group undertakings etc.
37,742 
71,886 
Accrued income and prepayments
23,823 
21,833 
Other debtors
- 
12,186 
681,719 
716,208 
7
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
VAT
46,984 
64,963 
Obligations under finance leases and hire purchase contracts
914 
11,510 
Trade creditors
324,176 
343,427 
Amounts owed to group undertakings and other participating interests
342,156 
309,925 
Taxes and social security
197,822 
176,458 
Loans from directors
56,193 
25,822 
Accruals
22,025 
23,657 
990,270 
955,762 
8
Transactions with related parties
The company is related by common directorships to Fluid Technology Generation Limited (FTG). During the year Safechem Limited sold goods and services to FTG to the value of £148,958 (2024 £156,423) and purchased goods from FTG to the value of £1,217,629 (2024 £1,230,621). As at 31st january 2024 Safechem Limited owed FTG £342,156 (2024 £309,925) and FTG owed Safechem Limted £37,742 (2024 £71,886). All transactions were at market value.
9
Average number of employees
During the year the average number of employees was 16 (2024: 19).
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