Registered number
02654899
Safe Training Systems Limited
Filleted Accounts
30 September 2024
Safe Training Systems Limited
Registered number: 02654899
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,475 2,417
Current assets
Stocks 120,674 150,174
Debtors 4 174,463 45,800
Cash at bank and in hand 343,902 262,430
639,039 458,404
Creditors: amounts falling due within one year 5 (99,127) (55,927)
Net current assets 539,912 402,477
Net assets 544,387 404,894
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 543,387 403,894
Shareholders' funds 544,387 404,894
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Ward
Director
Approved by the board on 2 May 2025
Safe Training Systems Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery, etc. 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 1,530 7,453 8,983
Additions - 3,040 3,040
At 30 September 2024 1,530 10,493 12,023
Depreciation
At 1 October 2023 - 6,566 6,566
Charge for the year - 982 982
At 30 September 2024 - 7,548 7,548
Net book value
At 30 September 2024 1,530 2,945 4,475
At 30 September 2023 1,530 887 2,417
4 Debtors 2024 2023
£ £
Trade debtors 164,512 33,876
Other debtors 9,951 11,924
174,463 45,800
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 28,530 20,178
Taxation and social security costs 38,149 4,435
Other creditors 32,448 31,314
99,127 55,927
6 Other information
Safe Training Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 33 Space Business Centre
Molly Millars Lane
Wokingham
Berks
RG41 2PQ
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