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Registered Number: 03529637


 

 

 

SAFY IMPEX LTD.



Abridged Accounts
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 736,793    838,910 
736,793    838,910 
Current assets      
Stocks 79,085    80,258 
Debtors 475,873    378,967 
Cash at bank and in hand 109,900    9,920 
664,858    469,145 
Creditors: amount falling due within one year (826,907)   (720,566)
Net current assets (162,049)   (251,421)
 
Total assets less current liabilities 574,744    587,489 
Creditors: amount falling due after more than one year (124,399)   (171,443)
Provisions for liabilities (729)   (318)
Net assets 449,616    415,728 
 

Capital and reserves
     
Called up share capital 4 40,000    40,000 
Profit and loss account 409,616    375,728 
Shareholders' funds 449,616    415,728 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 22 May 2025 and were signed on its behalf by:


-------------------------------
Sabir Hussain
Director
1
General Information
SAFY IMPEX LTD. is a private company, limited by shares, registered in , registration number 03529637, registration address 254 SUMMER LANE, NEWTOWN, BIRMINGHAM, B19 2PX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 2% Straight Line
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 40 (2023 : 48).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 October 2023 546,228    598,465    184,692    47,803    3,522    1,380,710 
Additions   7,140      371    393    7,904 
Disposals   (125)         (125)
At 30 September 2024 546,228    605,480    184,692    48,174    3,915    1,388,489 
Depreciation
At 01 October 2023 96,868    268,103    133,661    40,308    2,359    541,299 
Charge for year 10,924    84,234    12,757    1,967    515    110,397 
On disposals          
At 30 September 2024 107,792    352,337    146,418    42,275    2,874    651,696 
Net book values
Closing balance as at 30 September 2024 438,436    253,143    38,274    5,899    1,041    736,793 
Opening balance as at 01 October 2023 449,360    329,861    51,031    7,495    1,163    838,910 


4.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
40,000 Class A shares of £1.00 each 40,000    40,000 
40,000    40,000 

2