Company registration number 09578091 (England and Wales)
SAFEHEAT HOMECOVER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
SAFEHEAT HOMECOVER LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
SAFEHEAT HOMECOVER LIMITED
BALANCE SHEET
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
895
Tangible assets
4
6,605
9,021
6,605
9,916
Current assets
Stocks
2,000
1,000
Debtors
5
883
1,220
Cash at bank and in hand
50,802
43,803
53,685
46,023
Creditors: amounts falling due within one year
6
(19,758)
(20,010)
Net current assets
33,927
26,013
Total assets less current liabilities
40,532
35,929
Provisions for liabilities
(1,255)
(2,255)
Net assets
39,277
33,674
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
39,177
33,574
Total equity
39,277
33,674
SAFEHEAT HOMECOVER LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 11 August 2025 and are signed on its behalf by:
Mr B S Wild
Director
Company registration number 09578091 (England and Wales)
SAFEHEAT HOMECOVER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information
Safeheat Homecover Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of trade discounts.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% straight line
Fixtures, fittings & equipment
20% straight line
Motor vehicles
20% straight line
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 credited or charged to profit or loss.
1.5
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.
1.6
Equity instruments
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
SAFEHEAT HOMECOVER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2024 and 31 May 2025
8,985
Amortisation and impairment
At 1 June 2024
8,090
Amortisation charged for the year
895
At 31 May 2025
8,985
Carrying amount
At 31 May 2025
At 31 May 2024
895
SAFEHEAT HOMECOVER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2024
18,456
Additions
775
At 31 May 2025
19,231
Depreciation and impairment
At 1 June 2024
9,435
Depreciation charged in the year
3,191
At 31 May 2025
12,626
Carrying amount
At 31 May 2025
6,605
At 31 May 2024
9,021
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
318
693
Other debtors
565
527
883
1,220
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
104
531
Taxation and social security
9,738
8,774
Other creditors
9,916
10,705
19,758
20,010