Registration number: 02119660

Safeguard Electronic Systems Limited trading as Thermatek

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

Safeguard Electronic Systems Limited trading as Thermatek

(Registration number: 02119660)
Balance Sheet as at 31 May 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	8,806	11,741
Current assets
Stocks	5	82,923	92,824
Debtors	6	296,104	85,471
Cash at bank and in hand		148,196	262,099
		527,223	440,394
Creditors: Amounts falling due within one year	7	(91,905)	(73,089)
Net current assets		435,318	367,305
Total assets less current liabilities		444,124	379,046
Creditors: Amounts falling due after more than one year	7	(914)	(9,297)
Provisions for liabilities		(890)	(1,353)
Net assets		442,320	368,396
Capital and reserves
Called up share capital		79,500	79,500
Retained earnings		362,820	288,896
Shareholders' funds		442,320	368,396

For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2025
 

Safeguard Electronic Systems Limited trading as Thermatek

(Registration number: 02119660)
Balance Sheet as at 31 May 2025

......................................... R J Sellwood Director

Safeguard Electronic Systems Limited trading as Thermatek

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
79 Cockney Hill
Tilehurst
Reading
RG30 4HE

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Safeguard Electronic Systems Limited trading as Thermatek

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Long leasehold	Over the period of the lease
Plant and machinery	25% on reducing balance
Fixtures and fittings	25% on reducing balance
Motor vehicles	25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Safeguard Electronic Systems Limited trading as Thermatek

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 7 (2024 - 8).

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 June 2024	5,807	28,412	26,853	43,381	104,453
Disposals	-	-	-	(21,726)	(21,726)
At 31 May 2025	5,807	28,412	26,853	21,655	82,727
Depreciation
At 1 June 2024	1,452	26,006	21,873	43,381	92,712
Charge for the year	1,088	602	1,245	-	2,935
Eliminated on disposal	-	-	-	(21,726)	(21,726)
At 31 May 2025	2,540	26,608	23,118	21,655	73,921
Carrying amount
At 31 May 2025	3,267	1,804	3,735	-	8,806
At 31 May 2024	4,355	2,406	4,980	-	11,741

Included within the net book value of land and buildings above is £3,266 (2024 - £4,355) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Other inventories	82,923	92,824

Safeguard Electronic Systems Limited trading as Thermatek

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		147,905	82,891
Amounts due from group companies		141,000	-
Prepayments		2,123	2,580
Other debtors		5,076	-
		296,104	85,471

Parent and ultimate parent undertaking
The company's parent company is Colibri Group Limited, incorporated in England and Wales.
These financial statements are available upon request from 79 Cockney Hill, Tilehurst, Reading RG30 4HE.

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	8,180	7,978
Trade creditors		30,991	22,274
Taxation and social security		27,598	32,017
Other creditors		25,136	10,820
		91,905	73,089