REGISTERED NUMBER: 06372012 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

SAFETY 4 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

I J Pugh

REGISTERED OFFICE:

Lyndale House

Ervington Court

Meridian Business Park

Leicester

LE19 1WL

REGISTERED NUMBER:

06372012 (England and Wales)

AUDITORS:

Magma Audit LLP (part of the Dains Group)

Chartered Accountants

Statutory Auditor

Unit 2, Charnwood Edge Business Park

Syston Road

Leicestershire

LE7 4UZ

FIXED ASSETS

Intangible assets

4

-

54

Tangible assets

5

-

-

-

54

CURRENT ASSETS

Debtors

6

116,866

76,698

Cash at bank

10,303

15,453

127,169

92,151

CREDITORS

Amounts falling due within one year

7

(17,608

)

(23,384

)

NET CURRENT ASSETS

109,561

68,767

TOTAL ASSETS LESS CURRENT LIABILITIES

109,561

68,821

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

109,461

68,721

109,561

68,821

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 March 2025 and were signed by:

I J Pugh - Director

1.	STATUTORY INFORMATION

Safety 4 Limited is a private limited company, limited by shares, registered in England and Wales. Its registered office address is Lyndale House Ervington Court, Meridian Business Park, Leicester, LE19 1WL and the registered number is 06372012.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling (£) and rounded to the nearest £1.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors believe that the company will remain profitable going forward and thus has sufficient resources to meet its liabilities for at least twelve months from signing these financial statements. Therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following annual bases:

Website - 20% straight line

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and impairment losses.

Depreciation is provided for at the following rate in order to write off the each asset over its estimated useful life.

Computer equipment - 25% straight line

The gain or loss that arises from the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset which then charged or credited to the profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried out at amortised cost, using the effective interest rate method.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2023

and 30 June 2024

13,680

AMORTISATION

At 1 July 2023

13,626

Charge for year

54

At 30 June 2024

13,680

NET BOOK VALUE

At 30 June 2024

-

At 30 June 2023

54

5.	TANGIBLE FIXED ASSETS

Computer

Equipment

£

COST

At 1 July 2023

and 30 June 2024

1,757

DEPRECIATION

At 1 July 2023

and 30 June 2024

1,757

NET BOOK VALUE

At 30 June 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,211

6,335

Amounts owed by group undertakings

114,400

69,520

Prepayments and accrued income

255

843

116,866

76,698

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,497

1,666

Amounts owed to group undertakings

110

206

VAT

2,378

4,865

Accruals and deferred income

13,623

16,647

17,608

23,384

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Luke Turner FCA FCCA (Senior Statutory Auditor)

for and on behalf of Magma Audit LLP (part of the Dains Group)

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, the company made sales of £52,800 (2023 - £52,800) to Manette Limited, a company in which I J Pugh is a director.

10.	ULTIMATE CONTROLLING PARTY

The director considers T Scharnberg and B Kirstiuk to be the company's controlling parties by virtue of their 100% shareholdings in companies registered in Canada, 530714 B.C Holdings Limited and Tingo Holdings Limited respectively, whom hold 90% of the issued share capital of the parent company.