REGISTERED NUMBER: 08922142 (England and Wales)

SAFE VENTURES (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Chartered Certified Accountants' Report

8

DIRECTOR:

Mr D C Foreman

SECRETARY:

Mrs N Foreman

REGISTERED OFFICE:

53 Penn Grove Road

Hereford

Herefordshire

HR1 1BT

REGISTERED NUMBER:

08922142 (England and Wales)

ACCOUNTANTS:

Lockett & Co

Chartered Certified Accountants

Shelton House

Coningsby Street

Hereford

Herefordshire

HR1 2DY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

139,515

187,085

139,515

187,085

CURRENT ASSETS

Stocks

66,359

35,091

Debtors

6

181,118

67,591

Cash at bank

257,940

331,448

505,417

434,130

CREDITORS

Amounts falling due within one year

7

164,157

137,685

NET CURRENT ASSETS

341,260

296,445

TOTAL ASSETS LESS CURRENT LIABILITIES

480,775

483,530

PROVISIONS FOR LIABILITIES

26,508

33,676

NET ASSETS

454,267

449,854

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

454,167

449,754

SHAREHOLDER FUNDS

454,267

449,854

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 director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 October 2025 and were signed by:

Mr D C Foreman - Director

1.	STATUTORY INFORMATION

Safe Ventures (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the fair value of goods sold and services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the period end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of two separate businesses in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost of each asset less its estimated residual value over its estimated useful life, or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and equipment

10% reducing balance basis

Fixtures and fittings

10% reducing balance basis

Motor vehicles

25% reducing balance basis

Computer equipment

20% reducing balance basis

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets and financial liabilities are recognised on the balance sheet when the entity becomes party to the contractual provisions of the financial instrument.

Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Research and development

Expenditure on research and development is written off against profits in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

142,000

AMORTISATION

At 1 April 2024

and 31 March 2025

142,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

300,112

Additions

5,139

At 31 March 2025

305,251

DEPRECIATION

At 1 April 2024

113,027

Charge for year

52,709

At 31 March 2025

165,736

NET BOOK VALUE

At 31 March 2025

139,515

At 31 March 2024

187,085

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

178,923

63,676

Other debtors

2,195

3,915

181,118

67,591

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

6,704

34,628

Taxation and social security

44,025

33,167

Other creditors

113,428

69,890

164,157

137,685

8.	FIRST YEAR ADOPTION

Deferred Tax - FRS 102 (Section 1A), adopts a 'timing differences plus' approach, which requires deferred tax to be provided. Provision was not required prior to the adoption of FRS 102. The effect on the previously reported financial statements is shown below.

Reconciliation of Capital and Reserves:

At

At

1 April

31 March

2023

2024

(Transition Date)

£

£

Capital and reserves (as previously stated)

471,349

483,530

Deferred tax provision

(24,906

)

(33,676

)

Capital and reserves (as restated)

446,443

449,854

Reconciliation of profit/(loss) for the year ended 31 March 2024:

£

Profit/(Loss) on ordinary activities after taxation and for the financial year (as previously stated)

13,181

Change in deferred tax provision

(8,770

)

Profit/(Loss) on ordinary activities after taxation and for the financial year (as restated)

4,411

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and loss Account and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Safe Ventures (UK) Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at accaglobal.com/rulebook.

This report is made solely to the director of Safe Ventures (UK) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Safe Ventures (UK) Limited and state those matters that we have agreed to state to the director of Safe Ventures (UK) Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at

https://www.accaglobal.com/gb/en/technical-activities/technical-resources-

search/2009/october/factsheet-163-audit-exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Safe Ventures (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Safe Ventures (UK) Limited. You consider that Safe Ventures (UK) Limited 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 financial statements of Safe Ventures (UK) Limited. 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 financial statements.

Lockett & Co

Chartered Certified Accountants

Shelton House

Coningsby Street

Hereford

Herefordshire

HR1 2DY

24 October 2025