Company registration number 06885921 (England and Wales)
SAFE SITE FACILITIES LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
SAFE SITE FACILITIES LTD
COMPANY INFORMATION
Director
M Knibbs
Company number
06885921
Registered office
Unit 1 Martello Enterprise Centre
Courtwick Lane
Littlehampton
West Sussex
BN17 7PA
Auditor
PHH Accountancy Limited
Second Floor
3 Liverpool Gardens
Worthing
West Sussex
BN11 1TF
Business address
Unit 1 Martello Enterprise Centre
Courtwick Lane
Littlehampton
West Sussex
BN17 7PA
SAFE SITE FACILITIES LTD
CONTENTS
Page
Strategic report
1
Director's report
2
Director's responsibilities statement
3
Independent auditor's report
4 - 6
Profit and loss account
7
Group statement of comprehensive income
8
Group balance sheet
9
Company balance sheet
10 - 11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 33
SAFE SITE FACILITIES LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 1 -

The director presents the strategic report for the year ended 31 July 2024.

Review of the business

Throughout the year the group has continued to deliver an extensive range of site safety and security products and services for everything from domestic renovations to multi-million pound, nationwide contracts. Continuing to expand the group's range of products and services through innovation and learning. The group has obtained numerous leading accreditations, ensuring it is always at the forefront of industry standards.

Principal risks and uncertainties

The group's activities are exposed to various financial and non-financial risks and credit risks. The director recognises the impact of such risks and these risks are regularly reviewed and monitored by the group's systems and procedures. The principle risk is operating in a competitive market, which the company manages by utilising its excellent internal and external resources.

Development and performance

The group uses two main key performance indicators to assess the financial performance of the group, being EBITDA and gross profit margin. The group has reported an EBITDA of £2,088,000 in the year ended 31 July 2024 compared to £1,957,700 in the year to 31 July 2023, and has seen an improved gross profit margin of 27% in the year ended 31 July 2024 compared to 25% in the year ended 31 July 2023.

Other information and explanations

The group continues to invest in the business to ensure that its in-house expertise and product offering are market leading, giving the group the ideal platform to continue to develop and perform in site safety and security sector.

 

 

On behalf of the board

M Knibbs
Director
28 April 2025
SAFE SITE FACILITIES LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 2 -

The director presents his annual report and financial statements for the year ended 31 July 2024.

Principal activities

The principal activity of the company and group continued to be that of of site security and safety in construction and other related activities.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £266,000. The director does not recommend payment of a further dividend.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

M Knibbs
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
M Knibbs
Director
28 April 2025
SAFE SITE FACILITIES LTD
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 JULY 2024
- 3 -

The director is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

 

 

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SAFE SITE FACILITIES LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF SAFE SITE FACILITIES LTD
- 4 -
Opinion

We have audited the financial statements of Safe Site Facilities Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 July 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

SAFE SITE FACILITIES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SAFE SITE FACILITIES LTD
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the parent company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

 

SAFE SITE FACILITIES LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF SAFE SITE FACILITIES LTD
- 6 -

We assessed the susceptibility of the Company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

 

  • making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;

  • considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulation.

 

To address the risk of fraud through management bias and override of controls, we;

 

  • performed analytical procedures to identify any unusual or expected relationships;

  • tested journal entries to identify unusual transactions;

  • assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

  • investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which indicated, but were not limited to:

 

  • agreeing financial statement disclosures to underlying supporting documentation;

  • enquiring of management as to actual and potential litigation and claims; and

  • reviewing correspondence with HMRC.

 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Matthew Pedder BA(Hons) FCA (Senior Statutory Auditor)
For and on behalf of PHH Accountancy Limited, Statutory Auditor
Chartered Accountants
Second Floor
3 Liverpool Gardens
Worthing
West Sussex
BN11 1TF
28 April 2025
SAFE SITE FACILITIES LTD
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
2024
2023
Notes
£
£
Turnover
3
13,410,756
16,199,749
Cost of sales
(9,761,064)
(12,214,704)
Gross profit
3,649,692
3,985,045
Administrative expenses
(2,783,359)
(2,797,446)
Operating profit
4
866,333
1,187,599
Interest receivable and similar income
7
641
833
Interest payable and similar expenses
8
(62,540)
(44,297)
Profit before taxation
804,434
1,144,135
Tax on profit
9
(251,803)
(251,437)
Profit for the financial year
23
552,631
892,698
Profit for the financial year is all attributable to the owners of the parent company.
SAFE SITE FACILITIES LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
2024
2023
£
£
Profit for the year
552,631
892,698
Other comprehensive income
Revaluation of tangible fixed assets
-
0
174,302
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
552,631
1,067,000
Total comprehensive income for the year is all attributable to the owners of the parent company.
SAFE SITE FACILITIES LTD
GROUP BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
11
2,968,063
2,787,854
2,968,063
2,787,854
Current assets
Stocks
14
526,404
583,756
Debtors
15
2,981,284
2,606,615
Cash at bank and in hand
154,976
490,949
3,662,664
3,681,320
Creditors: amounts falling due within one year
16
(2,995,842)
(2,770,444)
Net current assets
666,822
910,876
Total assets less current liabilities
3,634,885
3,698,730
Creditors: amounts falling due after more than one year
17
(455,958)
(666,807)
Provisions for liabilities
Deferred tax liability
20
742,015
579,992
(742,015)
(579,992)
Net assets
2,436,912
2,451,931
Capital and reserves
Called up share capital
22
950
1,000
Revaluation reserve
23
574,302
574,302
Capital redemption reserve
23
50
-
Profit and loss reserves
23
1,861,610
1,876,629
Total equity
2,436,912
2,451,931

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved and signed by the director and authorised for issue on 28 April 2025
28 April 2025
M Knibbs
Director
Company registration number 06885921 (England and Wales)
SAFE SITE FACILITIES LTD
COMPANY BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
2,702,819
2,612,086
Investments
12
1,000
1,000
2,703,819
2,613,086
Current assets
Stocks
14
493,872
583,756
Debtors
15
2,717,800
2,460,978
Cash at bank and in hand
44,632
369,429
3,256,304
3,414,163
Creditors: amounts falling due within one year
16
(2,755,012)
(2,576,007)
Net current assets
501,292
838,156
Total assets less current liabilities
3,205,111
3,451,242
Creditors: amounts falling due after more than one year
17
(455,958)
(634,117)
Provisions for liabilities
Deferred tax liability
20
675,704
546,596
(675,704)
(546,596)
Net assets
2,073,449
2,270,529
Capital and reserves
Called up share capital
22
950
1,000
Revaluation reserve
23
574,302
574,302
Capital redemption reserve
23
50
-
0
Profit and loss reserves
23
1,498,147
1,695,227
Total equity
2,073,449
2,270,529
SAFE SITE FACILITIES LTD
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024
31 July 2024
- 11 -

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £370,569 (2023 - £735,463 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved and signed by the director and authorised for issue on 28 April 2025
28 April 2025
M Knibbs
Director
Company registration number 06885921 (England and Wales)
SAFE SITE FACILITIES LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 12 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 August 2022
1,000
400,000
-
0
1,294,581
1,695,581
Year ended 31 July 2023:
Profit for the year
-
-
-
892,698
892,698
Other comprehensive income:
Revaluation of tangible fixed assets
-
174,302
-
-
174,302
Total comprehensive income
-
174,302
-
892,698
1,067,000
Dividends
10
-
-
-
(310,650)
(310,650)
Balance at 31 July 2023
1,000
574,302
-
0
1,876,629
2,451,931
Year ended 31 July 2024:
Profit and total comprehensive income
-
-
-
552,631
552,631
Dividends
10
-
-
-
(266,000)
(266,000)
Own shares acquired
-
-
-
(301,650)
(301,650)
Redemption of shares
22
(50)
-
50
-
-
0
Balance at 31 July 2024
950
574,302
50
1,861,610
2,436,912
SAFE SITE FACILITIES LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 13 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 August 2022
1,000
400,000
-
0
1,270,414
1,671,414
Year ended 31 July 2023:
Profit for the year
-
-
-
735,463
735,463
Other comprehensive income:
Revaluation of tangible fixed assets
-
174,302
-
-
174,302
Total comprehensive income
-
174,302
-
735,463
909,765
Dividends
10
-
-
-
(310,650)
(310,650)
Balance at 31 July 2023
1,000
574,302
-
0
1,695,227
2,270,529
Year ended 31 July 2024:
Profit and total comprehensive income
-
-
-
370,570
370,570
Dividends
10
-
-
-
(266,000)
(266,000)
Own shares acquired
-
-
-
(301,650)
(301,650)
Redemption of shares
22
(50)
-
50
-
-
0
Balance at 31 July 2024
950
574,302
50
1,498,147
2,073,449
SAFE SITE FACILITIES LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 JULY 2024
- 14 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
25
1,895,090
2,108,586
Interest paid
(62,540)
(44,297)
Income taxes paid
(18,979)
(12,414)
Net cash inflow from operating activities
1,813,571
2,051,875
Investing activities
Purchase of tangible fixed assets
(1,427,709)
(1,462,879)
Proceeds from disposal of tangible fixed assets
25,834
104,850
Repayment of loans
110,860
(110,860)
Interest received
641
833
Net cash used in investing activities
(1,290,374)
(1,468,056)
Financing activities
Purchase of treasury shares
(301,650)
-
0
Repayment of borrowings
(774)
10,633
Repayment of bank loans
(31,601)
(33,558)
Payment of finance leases obligations
(259,145)
237,343
Dividends paid to equity shareholders
(266,000)
(310,650)
Net cash used in financing activities
(859,170)
(96,232)
Net (decrease)/increase in cash and cash equivalents
(335,973)
487,587
Cash and cash equivalents at beginning of year
490,949
3,362
Cash and cash equivalents at end of year
154,976
490,949
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 15 -
1
Accounting policies
Company information

Safe Site Facilities Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .

 

The group consists of Safe Site Facilities Ltd and all of its subsidiaries.

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.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

 

1.2
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 16 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Safe Site Facilities Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

 

All financial statements are made up to 31 July 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

Entities in which the group holds an interest and which are jointly controlled by the group and one or more other venturers under a contractual arrangement are treated as joint ventures. Entities other than subsidiary undertakings or joint ventures, in which the group has a participating interest and over whose operating and financial policies the group exercises a significant influence, are treated as associates.

Investments in joint ventures and associates are carried in the group balance sheet at cost plus post-acquisition changes in the group’s share of the net assets of the entity, less any impairment in value. The carrying values of investments in joint ventures and associates include acquired goodwill.

 

If the group’s share of losses in a joint venture or associate equals or exceeds its investment in the joint venture or associate, the group does not recognise further losses unless it has incurred obligations to do so or has made payments on behalf of the joint venture or associate.

 

Unrealised gains arising from transactions with joint ventures and associates are eliminated to the extent of the group’s interest in the entity.

1.4
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.6
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.

SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 17 -

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:

Freehold land and buildings
Not depreciated
Leasehold land and buildings
5 years straight line basis
Plant and equipment
15% reducing balance basis
Fixtures and fittings
15% reducing balance basis
Computer and office equipment
20% straight line basis
Motor vehicles
25% reducing balance basis
Hire equipment
33.33% straight line basis

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 recognised in the profit and loss account.

1.7
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

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

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

 

Investments in associates are initially recognised at the transaction price (including transaction costs) and are subsequently adjusted to reflect the group’s share of the profit or loss, other comprehensive income and equity of the associate using the equity method. Any difference between the cost of acquisition and the share of the fair value of the net identifiable assets of the associate on acquisition is recognised as goodwill. Any unamortised balance of goodwill is included in the carrying value of the investment in associates.

 

Losses in excess of the carrying amount of an investment in an associate are recorded as a provision only when the company has incurred legal or constructive obligations or has made payments on behalf of the associate.

 

In the parent company financial statements, investments in associates are accounted for at cost less impairment.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 18 -
1.8
Impairment of fixed assets

At each reporting period end date, the group 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.

 

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.10
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.

SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 19 -
1.11
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 20 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group 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 group.

1.13
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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 21 -
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

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

1.16
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 leased asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 22 -
3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
Sale of goods
7,885,712
11,239,593
Hire income
3,856,359
3,377,873
Transport sales
1,167,592
1,049,191
Other
501,093
533,092
13,410,756
16,199,749
2024
2023
£
£
Turnover analysed by geographical market
UK
13,410,756
16,199,749
2024
2023
£
£
Other revenue
Interest income
641
833
4
Operating profit
2024
2023
£
£
Operating profit for the year is stated after charging:
Fees payable to the group's auditor for the audit of the group's financial statements
8,000
8,000
Depreciation of owned tangible fixed assets
1,097,192
465,832
Depreciation of tangible fixed assets held under finance leases
116,052
296,290
Loss on disposal of tangible fixed assets
8,422
7,955
Operating lease charges
349,690
256,626
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 23 -
5
Employees

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

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Management
20
16
6
5
Finance
3
5
3
5
Human resources
1
2
1
2
Operations
5
4
5
4
Transport
9
7
9
7
Installs
10
8
10
8
Administrative
6
4
6
4
Warehouse
15
10
15
10
CCTV
5
5
5
5
Sales
9
10
9
10
Total
83
71
69
60

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
3,098,699
3,038,252
2,490,787
2,622,122
Social security costs
450
469
450
469
Pension costs
46,569
51,988
39,655
45,013
3,145,718
3,090,709
2,530,892
2,667,604
6
Director's remuneration
2024
2023
£
£
Remuneration for qualifying services
12,360
12,360
Company pension contributions to defined contribution schemes
184
184
12,544
12,544
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 24 -
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
-
0
833
Other interest income
641
-
Total income
641
833
8
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
32,963
24,964
Interest on finance leases and hire purchase contracts
29,374
19,325
Other interest
203
8
Total finance costs
62,540
44,297
9
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
157,021
69,044
Adjustments in respect of prior periods
(67,241)
-
0
Total current tax
89,780
69,044
Deferred tax
Origination and reversal of timing differences
162,023
182,393
Total tax charge
251,803
251,437
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
9
Taxation
(Continued)
- 25 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
804,434
1,144,135
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
201,109
286,034
Tax effect of expenses that are not deductible in determining taxable profit
3,368
1,989
Permanent capital allowances in excess of depreciation
(46,191)
(207,616)
Other non-reversing timing differences
(1,265)
-
0
Under/(over) provided in prior years
(67,241)
15
Deferred tax adjustments in respect of prior years
-
0
22,018
Deferred tax movement
162,023
148,997
Taxation charge
251,803
251,437
10
Dividends
2024
2023
Recognised as distributions to equity holders:
£
£
Final paid
266,000
310,650
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 26 -
11
Tangible fixed assets
Group
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computer and office equipment
Motor vehicles
Hire equipment
Total
£
£
£
£
£
£
£
£
Cost
At 1 August 2023
1,000,000
-
0
348,769
103,262
113,523
955,973
1,699,050
4,220,577
Additions
-
0
3,869
16,438
26,349
22,550
65,000
1,293,503
1,427,709
Disposals
-
0
-
0
-
0
-
0
-
0
(56,393)
-
0
(56,393)
At 31 July 2024
1,000,000
3,869
365,207
129,611
136,073
964,580
2,992,553
5,591,893
Depreciation and impairment
At 1 August 2023
-
0
-
0
118,282
54,369
75,074
322,292
862,706
1,432,723
Depreciation charged in the year
-
0
64
35,190
8,998
11,504
160,070
997,418
1,213,244
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
-
0
(22,137)
-
0
(22,137)
At 31 July 2024
-
0
64
153,472
63,367
86,578
460,225
1,860,124
2,623,830
Carrying amount
At 31 July 2024
1,000,000
3,805
211,735
66,244
49,495
504,355
1,132,429
2,968,063
At 31 July 2023
1,000,000
-
0
230,487
48,893
38,449
633,681
836,344
2,787,854
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
11
Tangible fixed assets
(Continued)
- 27 -
Company
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computer and office equipment
Motor vehicles
Hire equipment
Total
£
£
£
£
£
£
£
£
Cost
At 1 August 2023
1,000,000
-
0
348,769
91,857
108,151
764,179
1,699,050
4,012,006
Additions
-
0
3,869
16,438
26,349
22,550
65,000
1,093,671
1,227,877
Disposals
-
0
-
0
-
0
-
0
-
0
(56,393)
-
0
(56,393)
At 31 July 2024
1,000,000
3,869
365,207
118,206
130,701
772,786
2,792,721
5,183,490
Depreciation and impairment
At 1 August 2023
-
0
-
0
118,282
52,145
72,926
293,861
862,706
1,399,920
Depreciation charged in the year
-
0
64
35,190
7,162
10,430
119,228
930,814
1,102,888
Eliminated in respect of disposals
-
0
-
0
-
0
-
0
-
0
(22,137)
-
0
(22,137)
At 31 July 2024
-
0
64
153,472
59,307
83,356
390,952
1,793,520
2,480,671
Carrying amount
At 31 July 2024
1,000,000
3,805
211,735
58,899
47,345
381,834
999,201
2,702,819
At 31 July 2023
1,000,000
-
0
230,487
39,712
35,225
470,318
836,344
2,612,086
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
11
Tangible fixed assets
(Continued)
- 28 -

The net carrying value of tangible fixed assets includes the following in respect of assets held under finance leases or hire purchase contracts.

Group
Company
2024
2023
2024
2023
£
£
£
£
Plant and equipment
145,961
343,438
145,961
171,719
Motor vehicles
298,111
587,695
298,111
230,703
444,072
931,133
444,072
402,422
12
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
1,000
1,000
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 August 2023 and 31 July 2024
1,000
Carrying amount
At 31 July 2024
1,000
At 31 July 2023
1,000
13
Subsidiaries

Details of the company's subsidiaries at 31 July 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Safe Site Solutions Ltd
Unit 1 Martello Enterprise Centre, Courtwick Lane, Littlehampton, West Sussex BN17 7PA
Ordinary
100.00
14
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Finished goods and goods for resale
526,404
583,756
493,872
583,756
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 29 -
15
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
2,504,433
2,132,038
2,244,454
1,922,243
Amounts owed by group undertakings
-
-
-
77,480
Other debtors
420,239
422,019
420,239
412,599
Prepayments and accrued income
56,612
52,558
53,107
48,656
2,981,284
2,606,615
2,717,800
2,460,978
16
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
18
33,975
38,725
33,975
38,725
Obligations under finance leases
19
218,567
293,714
185,877
232,716
Other borrowings
18
36,168
36,942
36,168
36,942
Trade creditors
2,180,804
2,277,216
2,054,911
2,167,532
Amounts owed to group undertakings
-
0
-
0
558
-
0
Corporation tax payable
139,845
69,044
99,699
68,689
Other taxation and social security
168,180
10,281
135,572
-
Other creditors
180,569
13,561
178,271
8,743
Accruals and deferred income
37,734
30,961
29,981
22,660
2,995,842
2,770,444
2,755,012
2,576,007
17
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
18
387,336
414,187
387,336
414,187
Obligations under finance leases
19
68,622
252,620
68,622
219,930
455,958
666,807
455,958
634,117
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 30 -
18
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
421,311
452,912
421,311
452,912
Loans from related parties
36,168
36,942
36,168
36,942
457,479
489,854
457,479
489,854
Payable within one year
70,143
75,667
70,143
75,667
Payable after one year
387,336
414,187
387,336
414,187

 

At 31 July 2024, the Coronavirus Bounce Back Loan had an amount outstanding of £19,910 (2023 - £29,923). This loan has been provided over a period of 6 years ending in June 2026, with the first instalment being paid 13 months after the initial draw down. No repayments of capital were made during the first 12 months of the loan. Interest on the loan is charged at a rate of 2.5% per annum.

 

At 31 July 2024, the commercial mortgage had an amount outstanding of £401,400 (2023 - £422,989). This loan has been provided over a period of 15 years ending in May 2026. Interest on the loan is currently charged at a rate of 5.5% per annum. This loan is secured against the freehold property to which it relates.

19
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
237,508
317,675
204,818
256,677
In two to five years
79,343
280,685
79,343
247,995
316,851
598,360
284,161
504,672
Less: future finance charges
(29,662)
(52,026)
(29,662)
(52,026)
287,189
546,334
254,499
452,646

Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 31 -
20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2024
2023
Group
£
£
Accelerated capital allowances
598,439
436,416
Revaluations
143,576
143,576
742,015
579,992
Liabilities
Liabilities
2024
2023
Company
£
£
Accelerated capital allowances
532,128
403,020
Revaluations
143,576
143,576
675,704
546,596
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 August 2023
579,992
546,596
Charge to profit or loss
162,023
129,108
Liability at 31 July 2024
742,015
675,704
21
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
46,569
51,988

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 32 -
22
Share capital
Group and company
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
950
1,000
950
1,000

On the 20 March 2024 the company repurchased 50 Ordinary £1 shares from a shareholder for a consideration of £300,000, the 50 £1 Ordinary shares have been transferred to the capital redemption reserve.

23
Reserves
Profit and loss reserves

Included within profit and loss reserves are non-distributable profits of £430,726 (2023 - £430,726).

24
Operating lease commitments
Lessee

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

Group
Company
2024
2023
2024
2023
£
£
£
£
Within one year
95,125
82,258
95,125
79,104
Between two and five years
332,000
67,910
332,000
67,910
427,125
150,168
427,125
147,014
SAFE SITE FACILITIES LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 33 -
25
Cash generated from group operations
2024
2023
£
£
Profit after taxation
552,631
892,698
Adjustments for:
Taxation charged
251,803
251,437
Finance costs
62,540
44,297
Investment income
(641)
(833)
Loss on disposal of tangible fixed assets
8,422
7,955
Depreciation and impairment of tangible fixed assets
1,213,244
762,122
Movements in working capital:
Decrease/(increase) in stocks
57,352
(61,208)
(Increase)/decrease in debtors
(485,529)
489,535
Increase/(decrease) in creditors
235,268
(277,417)
Cash generated from operations
1,895,090
2,108,586
26
Analysis of changes in net debt - group
1 August 2023
Cash flows
31 July 2024
£
£
£
Cash at bank and in hand
490,949
(335,973)
154,976
Borrowings excluding overdrafts
(489,854)
32,375
(457,479)
Obligations under finance leases
(546,334)
259,145
(287,189)
(545,239)
(44,453)
(589,692)
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