SAFAB LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC407202

SAFAB LIMITED

Filleted Unaudited Financial Statements

31 March 2025

SAFAB LIMITED

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	160,933	171,589

Current assets

Stocks		83,578	79,672
Debtors	6	630,376	460,803
Cash at bank and in hand		864,967	928,709
		------------	------------
		1,578,921	1,469,184

Creditors: amounts falling due within one year	7	663,955	460,044
		------------	------------
Net current assets		914,966	1,009,140
		------------	------------
Total assets less current liabilities		1,075,899	1,180,729

Creditors: amounts falling due after more than one year	8	27,879	70,606

Provisions	38,943	41,561
	------------	------------
Net assets	1,009,077	1,068,562
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,008,977	1,068,462
	------------	------------
Shareholders funds	1,009,077	1,068,562
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

SAFAB LIMITED

Statement of Financial Position (continued)

31 March 2025

For the 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.

Director's responsibilities:

- 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 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 8 December 2025 , and are signed on behalf of the board by:

Mr R Alexander
Director

Company registration number: SC407202

SAFAB LIMITED

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Barclay Curle Complex, 739 South Street, Glasgow, G14 0BX, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Short leasehold property	-	10% straight line
Plant and machinery	-	20% straight line
Fixtures and fittings	-	33% straight line
Motor vehicles	-	33% straight line

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2024: 14 ).

5. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2024	9,925	445,179	1,418	52,240	9,444	518,206
Additions	–	41,785	–	–	–	41,785
	-------	---------	-------	--------	-------	---------
At 31 Mar 2025	9,925	486,964	1,418	52,240	9,444	559,991
	-------	---------	-------	--------	-------	---------
Depreciation
At 1 Apr 2024	4,962	283,393	1,308	49,685	7,269	346,617
Charge for the year	993	47,816	110	2,555	967	52,441
	-------	---------	-------	--------	-------	---------
At 31 Mar 2025	5,955	331,209	1,418	52,240	8,236	399,058
	-------	---------	-------	--------	-------	---------
Carrying amount
At 31 Mar 2025	3,970	155,755	–	–	1,208	160,933
	-------	---------	-------	--------	-------	---------
At 31 Mar 2024	4,963	161,786	110	2,555	2,175	171,589
	-------	---------	-------	--------	-------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 March 2025	96,000
	--------
At 31 March 2024	161,133
	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	523,902	339,793
Other debtors	106,474	121,010
	---------	---------
	630,376	460,803
	---------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	422,710	379,577
Corporation tax	55,659	8,547
Social security and other taxes	64,447	15,566
Other creditors	111,139	46,354
	---------	---------
	663,955	460,044
	---------	---------

Included in other creditors are hire-purchase creditors amounting to £32,727 (2024 - £39,746). These sums are secured over the assets to which they relate.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	3,333	13,333
Other creditors	24,546	57,273
	--------	--------
	27,879	70,606
	--------	--------

Other creditors is represented by sums due under hire-purchase contracts and are secured over the assets to which they relate.

9. Events after the end of the reporting period

On April1 2025 the company purchased 45 A Ordinary shares and 5 B Ordinary shares for a total consideration of £700,000. This transaction occurred after the reporting date and does not affect the financial position as at March 31 2025. The purchase was funded from available reserves and approved in accordance with the Companies Act 2006.

10. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R Alexander	9,000	14,774	( 16,512)	7,262
Mr A Scott	1,933	14,578	( 16,511)	–
	--------	--------	--------	-------
	10,933	29,352	( 33,023)	7,262
	--------	--------	--------	-------

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R Alexander	–	25,980	( 16,980)	9,000
Mr A Scott	( 7,535)	26,448	( 16,980)	1,933
	-------	--------	--------	--------
	( 7,535)	52,428	( 33,960)	10,933
	-------	--------	--------	--------

The loans to the directors are interest free and repayable on demand. The company has an overdraft facility which is guaranteed by the directors.

11. Related party transactions

Included in other debtors is an amount of £94,767 (2024-£103,681) owed to the company by DLS services. Included in trade creditors is an amount of £76,800 (2024-£76,800) owed to DLS Services and included in other creditors is an amount of £71,086 (2024 - Nil) owed to DLS Services. DLS Services is a partnership owned and controlled equally by the directors and is not trading.