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REGISTERED NUMBER: 11410637 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

METHOD PROCESS SAFETY LTD

METHOD PROCESS SAFETY LTD (REGISTERED NUMBER: 11410637)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


METHOD PROCESS SAFETY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTOR: D Wetherill





REGISTERED OFFICE: Method House
3 Davis Crescent
Pirton
Hitchin
Hertfordshire
SG5 3RB





REGISTERED NUMBER: 11410637 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

METHOD PROCESS SAFETY LTD (REGISTERED NUMBER: 11410637)

BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1 148

CURRENT ASSETS
Debtors 5 86,473 141,843
Cash at bank 23,588 29,216
110,061 171,059
CREDITORS
Amounts falling due within one year 6 183,436 214,301
NET CURRENT LIABILITIES (73,375 ) (43,242 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(73,374

)

(43,094

)

CAPITAL AND RESERVES
Called up share capital 7 2,000 2,000
Retained earnings (75,374 ) (45,094 )
SHAREHOLDERS' FUNDS (73,374 ) (43,094 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th June 2025 and were signed by:





D Wetherill - Director


METHOD PROCESS SAFETY LTD (REGISTERED NUMBER: 11410637)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Method Process Safety Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 have been prepared on the going concern basis due to the continued support of the parent company.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 '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.

Significant judgements and estimates
No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, 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 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


METHOD PROCESS SAFETY LTD (REGISTERED NUMBER: 11410637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st October 2023
and 30th September 2024 442
DEPRECIATION
At 1st October 2023 294
Charge for year 147
At 30th September 2024 441
NET BOOK VALUE
At 30th September 2024 1
At 30th September 2023 148

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 76,898 141,843
Other debtors 9,575 -
86,473 141,843

METHOD PROCESS SAFETY LTD (REGISTERED NUMBER: 11410637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 38,272 26,475
Amounts owed to group undertakings 144,373 185,948
Taxation and social security - 1,228
Other creditors 791 650
183,436 214,301

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200,000 Ordinary 1p 2,000 2,000

8. ULTIMATE CONTROLLING PARTY

The company's ultimate parent company is Method Safety and Security Limited. Its registered office address is Method House, 3 Davis Crescent, Pirton, Hitchin, SG5 3RB.