Peoples Safety Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: SC347802 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PEOPLES SAFETY LTD

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,168,574

1,509,344

CURRENT ASSETS

Stocks

40,000

10,000

Debtors

1,192,031

1,074,411

Cash at bank

408,484

153,607

1,640,515

1,238,018

CREDITORS

Amounts falling due within one year

1,023,715

851,913

NET CURRENT ASSETS

616,800

386,105

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,785,374

1,895,449

CREDITORS

Amounts falling due after more than one
year

5

(190,287

)

(219,951

)

PROVISIONS FOR LIABILITIES

(188,935

)

(271,713

)

NET ASSETS

1,406,152

1,403,785

CAPITAL AND RESERVES

Called up share capital

100

Revaluation reserve

8

616,434

Retained earnings

789,618

787,251

1,406,152

1,403,785

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2025 and were signed on its behalf by:

J E Peoples - Director

1.	STATUTORY INFORMATION

Peoples Safety Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number:

SC347802

Registered office:

Peoples Safety Limited

Bo'Ness Road

Grangemouth

Stirlingshire

FK3 9XF

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 as modified by the revaluation of certain assets.

Turnover and revenue recognition

Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company only has basic financial assets and liabilities of a kind that qualify as basic financial instruments.

Basic financial instruments are initially recognised at transaction value and subsequently measured at their

settlement value.

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.

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.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 April 2024

2,694,659

Additions

250,426

At 31 March 2025

2,945,085

DEPRECIATION

At 1 April 2024

1,185,315

Charge for year

591,196

At 31 March 2025

1,776,511

NET BOOK VALUE

At 31 March 2025

1,168,574

At 31 March 2024

1,509,344

The net book value of assets held under finance lease at the year end was £6,204 (2023: £17,933). Depreciation charged on these assets during the year was £11,728 (2023: 11,728)

Cost or valuation at 31 March 2025 is represented by:

Totals

£

Valuation in 2023

2,183,437

Valuation in 2024

511,222

Valuation in 2025

250,426

2,945,085

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

31.3.25

31.3.24

£

Repayable by instalments

Bank loans more 5 yr by instal

80,216

100,235

6.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

Amounts falling due within one year or on demand:

Bank loans

36,891

37,518

Amounts falling due between one and two years:

Bank loans - 1-2 years

27,518

37,163

Amounts falling due between two and five years:

Bank loans - 2-5 years

82,553

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

80,216

100,235

Interest on outstanding loans is charged at a rate of between 1 percent and 3 percent.

7.	SECURED DEBTS

A bank loan due to Natwest PLC to the value of £237,823 (2023: £254,244 is secured by the way of a standard charge over a property held at Boness Road, Grangemouth and a floating charge over all property and undertaking of the company.

8.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

616,434

9.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the 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 32,118 (2023: £30,957). At the balance sheet date there was unpaid contributions of £Nil (2023: £Nil).