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Registered number: 05872791
















SAFETY TECHNOLOGY INTERNATIONAL LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024


































img374e.png


SAFETY TECHNOLOGY INTERNATIONAL LIMITED
REGISTERED NUMBER:05872791

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,443,789
2,879,173

Investments
 5 
1
1

Investment property
 6 
122,119
270,000

  
3,565,909
3,149,174

Current assets
  

Stocks
  
770,786
914,422

Debtors: amounts falling due within one year
 7 
910,989
621,326

Cash at bank and in hand
 8 
428,553
267,349

  
2,110,328
1,803,097

Creditors: amounts falling due within one year
 9 
(961,654)
(793,561)

Net current assets
  
1,148,674
1,009,536

Total assets less current liabilities
  
4,714,583
4,158,710

Creditors: amounts falling due after more than one year
 10 
(379,939)
(599,100)

Provisions for liabilities
  

Deferred tax
 12 
(174,739)
(139,951)

Net assets
  
4,159,905
3,419,659


Capital and reserves
  

Called up share capital 
 13 
1,103,351
496,791

Revaluation reserve
 14 
780,267
650,267

Profit and loss account
 14 
2,276,287
2,272,601

  
4,159,905
3,419,659


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the Board and were signed on its behalf by: 


Mr S L Hunt
Director

Date: 10 July 2025

The notes on pages 4 to 16 form part of these financial statements.
Page 1


SAFETY TECHNOLOGY INTERNATIONAL LIMITED
REGISTERED NUMBER:05872791
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024


Page 2
 

SAFETY TECHNOLOGY INTERNATIONAL LIMITED
 
 
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024



Called up share capital
Revaluation reserve
Profit and loss account
Total equity


£
£
£
£



At 1 January 2023
496,791
650,267
1,990,086
3,137,144



Comprehensive income for the year


Profit for the year
-
-
282,515
282,515

Total comprehensive income for the year
-
-
282,515
282,515



Total transactions with owners
-
-
-
-





At 1 January 2024
496,791
650,267
2,272,601
3,419,659



Comprehensive income for the year


Profit for the year
-
-
3,686
3,686


Surplus on revaluation of freehold property
-
130,000
-
130,000

Total comprehensive income for the year
-
130,000
3,686
133,686



Contributions by and distributions to owners


Shares issued during the year
606,560
-
-
606,560



At 31 December 2024
1,103,351
780,267
2,276,287
4,159,905



The notes on pages 4 to 16 form part of these financial statements.

Page 3

SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


GENERAL INFORMATION

Safety Technology International Limited is a private company limited by shares incorporated in the UK and registered in England and Wales. The address of the registered office is Taylor House, 34 Sherwood Road, Bromsgrove, Worcestershire, B60 3DR.
The principal activity of the Company is to manufacture fire, safety and security products.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

These financial statements cover the individual entity only and do not consolidate any other entities. They have been rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The directors have reviewed budgets and forecasts for a period of 12 months from approval of the financial statements. Considering this and profits generated by the company, as well as adequate resources to continue in operational existence for the foreseeable future, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

REVENUE

Revenue is recognised on despatch to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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:

Sale of goods
 
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.11

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line or reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant and machinery
-
20% reducing balance/straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
20% reducing balance/straight line
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

As stated in note 2.12 freehold property is held on the revaluation basis, with revaluations conducted with sufficient regularity that these assets are held at a value not materially different to fair value. All assets held in this class are depreciable, however the directors consider the residual values of these assets to be materially equal to the fair value. No depreciation has been applied in relation to these assets based on the above. This methodology is under continual review by the directors.

Page 6


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

REVALUATION OF TANGIBLE FIXED ASSETS

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.13

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.14

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.15

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.16

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.17

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.

Page 7


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.18

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.19

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 35 (2023: 34).

Page 8


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


TANGIBLE FIXED ASSETS





Freehold property
Plant and machinery
Computer equipment
Other fixed assets
Total

£
£
£
£
£



COST OR VALUATION


At 1 January 2024
2,701,143
212,400
156,790
138,649
3,208,982


Additions
-
208,041
5,785
3,314
217,140


Transfers between classes
270,000
-
-
-
270,000


Revaluations
130,000
-
-
-
130,000



At 31 December 2024

3,101,143
420,441
162,575
141,963
3,826,122



DEPRECIATION


At 1 January 2024
-
129,183
134,806
65,820
329,809


Charge for the year on owned assets
-
19,592
11,307
21,625
52,524



At 31 December 2024

-
148,775
146,113
87,445
382,333



NET BOOK VALUE



At 31 December 2024
3,101,143
271,666
16,462
54,518
3,443,789



At 31 December 2023
2,701,143
83,217
21,984
72,829
2,879,173

Page 9


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


TANGIBLE FIXED ASSETS (continued)

Cost or valuation at 31 December 2024 is as follows:


Land & Buildings
£



Cost
2,061,068

Valuation in 2015
242,648

Valuation in 2019
139,837

Valuation in 2020
11,245

Valuation in 2022
256,537

Transfer between classes in 2023
(10,192)

Transfer between classes in 2024
270,000

Valuation in 2024
130,000

3,101,143

The 2022 valuations were conducted by several property professionals depending on the location of the asset. The valuations were conducted by: John Truslove, Property Partners Barry Herterich, Palmer and the Directors. Properties were valued on an open market for existing use basis. No valuations were conducted for 2024 as no material movements were assessed.


5.


FIXED ASSET INVESTMENTS





Trade investments

£





At 1 January 2024
1



At 31 December 2024
1






NET BOOK VALUE



At 31 December 2024
1



1

Page 10


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 January 2024
270,000


Additions at cost
122,119


Transfers between classes
(270,000)



AT 31 DECEMBER 2024
122,119

The 2024 valuations were made by the directors, on an open market value for existing use basis.



Page 11


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


DEBTORS

As restated
2024
2023
£
£


Trade debtors
572,000
473,101

Amounts owed by group undertakings
8,186
-

Other debtors
73,242
58,990

Prepayments and accrued income
253,704
85,418

Tax recoverable
3,857
3,817

910,989
621,326


The comparative has been restated due to the reclassification of £97,162 to trade debtors that was previously included within amounts owed by group undertakings. This reclassification reflects the nature of the balance more accurately. The adjustment has no impact on the overall net assets of the company.


8.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
428,553
267,349

Less: bank overdrafts
(144,581)
-


Page 12


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

As restated
2024
2023
£
£

Bank overdrafts
144,581
-

Bank loans
89,268
71,543

Other loans
-
97,105

Trade creditors
224,780
82,571

Amounts owed to group undertakings
159,101
32,989

Corporation tax
-
100,927

Other taxation and social security
181,076
163,058

Other creditors
3,671
-

Accruals and deferred income
159,177
245,368

961,654
793,561


Comparatives restated for reclassification between trade debtors and group balances (see Note 8).
Secured creditors
Included within bank loans is £89,268 (2023: £71,543) secured against the freehold property owned by the company and against the assets of the company.
Included within other loans is £NIL (2023: £NIL) secured against the assets of the company.
There are legal charges dated 20 March 2017 and 19 May 2015 over the freehold property. 


10.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
379,939
480,858

Other loans
-
118,242

379,939
599,100


Secured creditors
Included within bank loans is £379,939 (2023: £480,858) secured against the freehold property owned by the company and against the assets of the company.
Included within other loans is £NIL (2023: £NIL) secured against the assets of the company.
There are legal charges dated 20 March 2017 and 19 May 2015 over the freehold property. 

Page 13


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


LOANS


Analysis of the maturity of loans is given below:


2024
2023
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
89,268
71,543

Other loans
-
97,105


89,268
168,648

AMOUNTS FALLING DUE 1-2 YEARS

Bank loans
93,437
90,152

Other loans
-
94,123


93,437
184,275

AMOUNTS FALLING DUE 2-5 YEARS

Bank loans
246,337
258,099

Other loans
-
24,119


246,337
282,218

AMOUNTS FALLING DUE AFTER MORE THAN 5 YEARS

Bank loans
40,165
132,607

469,207
767,748



12.


DEFERRED TAXATION




2024


£






At beginning of year
(139,951)


Charged to profit or loss
(34,788)



AT END OF YEAR
(174,739)

Page 14


SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
12.DEFERRED TAXATION (CONTINUED)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Tax losses carried forward
6,209
-

Pension surplus
-
1,147

Fixed asset timing differences
(180,948)
(141,098)

(174,739)
(139,951)


13.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,103,351 (2023: 496,791) Ordinary shares of £1.00 each
1,103,351
496,791


On 17 September 2024, 465,000 Ordinary shares at a nominal value of £1.00 (£465,000) were allotted during the period and fully paid.
On 30 September 2024, 141,560 Ordinary shares at a nominal value of £1.00 (£141,560) were allotted during the period and fully paid.


14.


RESERVES

Revaluation reserve

This reserve represents the surplus arising on the valuation of the freehold properties of the company.

Profit and loss account

This reserve includes all current and prior periods retained profits and losses.


15.


PENSION COMMITMENTS

The Company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £135,280 (2023: £68,508). As at the year end £11,730 (2023: £8,642) was owed to the fund, and is included within creditors due within one year.

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SAFETY TECHNOLOGY INTERNATIONAL LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

16.


RELATED PARTY TRANSACTIONS

The Company has taken exemption from disclosure of related party balances with wholly owned group entities under Section 33 of FRS 102, paragraph 33.1A.
During the year the company incurred expenditure of £496 (2023: £NIL) to Housemartin Agricultural Limited.


17.


CONTROLLING PARTY

Safety Technology International Inc, a Company incorporated in the United States of America is the ultimate parent company. There is no ultimate controlling party.


18.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 10 July 2025 by David Butler FCA (Senior Statutory Auditor) on behalf of Bishop Fleming LLP.

 
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