Registration number: SC216357

IONIC Rescue Ltd
(formerly Safequip Ltd)

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10
Accountants' Report	11

IONIC Rescue Ltd
(formerly Safequip Ltd)

Company Information

Directors

Mr John Wilcock Mr Philip Andrew Brown

Company secretary

Mr Philip Andrew Brown

Registered office

Unit 5C Innovate at Earls Court Earls Gate Business Park Grangemouth FK3 8ZE

Accountants

EQ Accountants Ltd Unit 4B Gateway Business Park Beancross Road Grangemouth FK3 8WX

IONIC Rescue Ltd
(formerly Safequip Ltd)

(Registration number: SC216357)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	41,199	61,027
Tangible assets	5	93,656	43,293
		134,855	104,320
Current assets
Stocks	6	1,140,000	988,000
Debtors	7	285,260	276,437
Cash at bank and in hand		23,751	8,932
		1,449,011	1,273,369
Creditors: Amounts falling due within one year	8	(872,029)	(710,782)
Net current assets		576,982	562,587
Total assets less current liabilities		711,837	666,907
Creditors: Amounts falling due after more than one year	8	(145,612)	(177,222)
Provisions for liabilities		(20,536)	(9,456)
Net assets		545,689	480,229
Capital and reserves
Called up share capital		100	100
Capital redemption reserve		1	1
Revaluation reserve		193,141	193,141
Retained earnings		352,447	286,987
Shareholders' funds		545,689	480,229

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

Directors' 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 directors acknowledge their 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 Board on 14 October 2025 and signed on its behalf by:
 

IONIC Rescue Ltd
(formerly Safequip Ltd)

(Registration number: SC216357)
Balance Sheet as at 31 March 2025

......................................... Mr Philip Andrew Brown Company secretary and director

IONIC Rescue Ltd
(formerly Safequip Ltd)

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

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The company was formerly known as Safequip Ltd.

2	Accounting policies

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.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

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.

IONIC Rescue Ltd
(formerly Safequip Ltd)

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

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
Plant & machinery	Reducing balance at 25%
Fixtures & fittings	Reducing balance at 25%
Motor vehicles	Reducing balance at 25%
Computer equipment	Straight line at 33%
Improvements to property	Reducing balance at 25%

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Patent & trademarks	Straight line at 10%

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

IONIC Rescue Ltd
(formerly Safequip Ltd)

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3	Employees and Directors

The average number of persons employed by the company (including directors) during the year, was 16 (2024 - 14).

IONIC Rescue Ltd
(formerly Safequip Ltd)

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

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 April 2024	205,141	205,141
At 31 March 2025	205,141	205,141
Amortisation
At 1 April 2024	144,114	144,114
Amortisation charge	19,828	19,828
At 31 March 2025	163,942	163,942
Carrying amount
At 31 March 2025	41,199	41,199
At 31 March 2024	61,027	61,027

5	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £
Cost or valuation
At 1 April 2024	14,949	16,312	45,948	35,013
Additions	-	-	7,499	7,202
Disposals	-	(101)	(1,138)	(4,726)
At 31 March 2025	14,949	16,211	52,309	37,489
Depreciation
At 1 April 2024	12,576	13,710	34,070	32,436
Charge for the year	593	651	4,806	2,832
Eliminated on disposal	-	(101)	(986)	(4,726)
At 31 March 2025	13,169	14,260	37,890	30,542
Carrying amount
At 31 March 2025	1,780	1,951	14,419	6,947
At 31 March 2024	2,373	2,602	11,878	2,577

IONIC Rescue Ltd
(formerly Safequip Ltd)

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

	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	88,788	201,010
Additions	82,090	96,791
Disposals	(61,758)	(67,723)
At 31 March 2025	109,120	230,078
Depreciation
At 1 April 2024	64,925	157,717
Charge for the year	22,853	31,735
Eliminated on disposal	(47,217)	(53,030)
At 31 March 2025	40,561	136,422
Carrying amount
At 31 March 2025	68,559	93,656
At 31 March 2024	23,863	43,293

IONIC Rescue Ltd
(formerly Safequip Ltd)

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

6

Stocks

	2025 £	2024 £
Other inventories	1,140,000	988,000

7

Debtors

Current	2025 £	2024 £
Trade debtors	274,049	267,918
Prepayments	11,197	8,505
Other debtors	14	14
	285,260	276,437

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	95,500	66,627
Trade creditors		435,329	353,992
Taxation and social security		114,672	105,948
Other creditors		226,528	184,215
		872,029	710,782

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	145,612	177,222

IONIC Rescue Ltd
(formerly Safequip Ltd)

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

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	103,889	177,222
Hire purchase contracts	41,723	-
	145,612	177,222

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	78,715	66,627
Hire purchase contracts	16,785	-
	95,500	66,627

10	Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

	2025  £	2024  £
Mr Philip Andrew Brown	49,878	51,137
Mr John Wilcock	52,709	45,196
	102,587	96,333

The maximum balance outstanding during the year amounted to £102,587.

The directors current accounts are repayable on demand.

Included within other creditors is an amount due to Mrs Lois Wilcock totalling £66,738.

These amounts are repayable on demand.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
IONIC Rescue Ltd
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of IONIC Rescue Ltd for the year ended 31 March 2025 as set out on pages 2 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of IONIC Rescue Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of IONIC Rescue Ltd and state those matters that we have agreed to state to the Board of Directors of IONIC Rescue Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than IONIC Rescue Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that IONIC Rescue Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of IONIC Rescue Ltd. You consider that IONIC Rescue Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of IONIC Rescue Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

14 October 2025