Company registration number SC218155 (Scotland)
ROSS SAFETY AND SURVIVAL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
ROSS SAFETY AND SURVIVAL LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
ROSS SAFETY AND SURVIVAL LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
77,019
44,607
Tangible assets
4
1,096,992
157,203
Investments
5
264
264
1,174,275
202,074
Current assets
Stocks
6
1,346,003
1,253,874
Debtors
7
1,790,981
1,526,268
Cash at bank and in hand
168,211
226,919
3,305,195
3,007,061
Creditors: amounts falling due within one year
8
(2,299,652)
(1,559,812)
Net current assets
1,005,543
1,447,249
Total assets less current liabilities
2,179,818
1,649,323
Creditors: amounts falling due after more than one year
9
(906,337)
(601,302)
Provisions for liabilities
(161,536)
(42,539)
Net assets
1,111,945
1,005,482
Capital and reserves
Called up share capital
60
60
Capital redemption reserve
40
40
Profit and loss reserves
1,111,845
1,005,382
Total equity
1,111,945
1,005,482
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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ROSS SAFETY AND SURVIVAL LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2025
28 February 2025
The financial statements were approved and signed by the director and authorised for issue on 26 August 2025
M ROSS
M Ross
Director
Company Registration No. SC218155
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ROSS SAFETY AND SURVIVAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
Company information
Ross Safety And Survival Ltd is a private company limited by shares incorporated in Scotland. The registered office is 12-16 Albyn Place, Aberdeen, AB10 1PS. The principal place of business is Unit 2, Aberdeen One Logistics Park, Crawpeel Road, Aberdeen, AB12 3LG.
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
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
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Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
10 years straight line
Website
10 years straight line
ROSS SAFETY AND SURVIVAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Tenants improvements
5 years straight line
Plant and equipment
5 years straight line
Fixtures and fittings
5 years straight line
Office equipment
3 years straight line
Motor vehicles
5 years 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.
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.7
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.
1.8
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and 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 the Statement of comprehensive income.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
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ROSS SAFETY AND SURVIVAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.11
Retirement benefits
The company operates a defined contribution plan for it's 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 the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.
1.12
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
1.14
Finance costs are charged to the Statement of comprehensive income 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.
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ROSS SAFETY AND SURVIVAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
22
18
3
Intangible fixed assets
Software Licences
Website
Total
£
£
£
Cost
At 29 February 2024
11,950
49,770
61,720
Additions
39,779
39,779
At 28 February 2025
11,950
89,549
101,499
Amortisation and impairment
At 29 February 2024
2,182
14,931
17,113
Amortisation charged for the year
2,390
4,977
7,367
At 28 February 2025
4,572
19,908
24,480
Carrying amount
At 28 February 2025
7,378
69,641
77,019
At 28 February 2024
9,768
34,839
44,607
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ROSS SAFETY AND SURVIVAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
4
Tangible fixed assets
Tenants improvements
Plant and equipment
Fixtures and fittings
Office equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 29 February 2024
3,340
163,783
471,077
31,283
127,497
796,980
Additions
914,046
1,190
56,309
13,197
20,107
1,004,849
Disposals
(3,340)
(12,315)
(455,997)
(3,177)
(474,829)
At 28 February 2025
914,046
152,658
71,389
41,303
147,604
1,327,000
Depreciation and impairment
At 29 February 2024
3,340
115,179
456,951
27,840
36,467
639,777
Depreciation charged in the year
8,018
14,109
13,322
2,818
25,946
64,213
Eliminated in respect of disposals
(3,340)
(12,315)
(455,150)
(3,177)
(473,982)
At 28 February 2025
8,018
116,973
15,123
27,481
62,413
230,008
Carrying amount
At 28 February 2025
906,028
35,685
56,266
13,822
85,191
1,096,992
At 28 February 2024
48,604
14,126
3,443
91,030
157,203
5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
264
264
6
Stocks
2025
2024
£
£
Stocks
1,346,003
1,253,874
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,452,041
1,388,735
Corporation tax recoverable
14,540
Other debtors
279,108
73,862
Prepayments and accrued income
45,292
63,671
1,790,981
1,526,268
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ROSS SAFETY AND SURVIVAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
165,770
87,878
Trade creditors
1,403,147
1,002,147
Corporation tax
61,196
Other taxation and social security
22,106
143,075
Other creditors
708,629
265,516
2,299,652
1,559,812
Included within other creditors are obligations under finance leases of £40,252 (2024 - £32,607) which are secured against the asset to which they relate.
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
472,160
146,395
Other creditors
434,177
454,907
906,337
601,302
Included within other creditors are obligations under finance leases of £35,146 (2024 - £58,657) which are secured against the asset to which they relate.
10
Loans and overdrafts
2025
2024
£
£
Bank loans
637,930
234,273
Loans from related undertakings
399,031
396,250
1,036,961
630,523
Payable within one year
165,770
87,878
Payable after one year
871,191
542,645
The bank loans are secured by an unlimited bond and floating charge over the whole assets of the company. In addition, the director has provided a letter of guarantee of £125,000.
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ROSS SAFETY AND SURVIVAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
11
Operating lease commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Within 1 year
201,085
-
Years 2-5
804,890
-
After 5 years
897,443
-
Total commitments
1,903,418
-
12
Related party transactions
During the year the company paid rent of £208,668 (2024 - £208,668) and received management charges of £12,000 (2024 - £12,000) from a company with a common director. At the year end, there is an outstanding loan balance of £459,031 (2024 - £456,250) due by the company. Interest of £21,484 is accrued at 5% per annum (2024 - £Nil).
During the year, the company advanced a loan of $172,100 (£136,539) to a US-registered company. The company received management charges of $31,500 (£24,457) (2024 - £Nil) from a company with a common director. This company is considered a related party by virtue of being under the control of common shareholder. The loan is unsecured, interest-free, and there are no fixed terms for repayment.
A balance of £50,009 (2024 - £52,957) is due to the company at the year end by companies with a common director.
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