REGISTERED NUMBER: 07475479 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

SAF SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Fisher

REGISTERED OFFICE:

25 Grosvenor Road

Wrexham

LL11 1BT

REGISTERED NUMBER:

07475479 (England and Wales)

ACCOUNTANTS:

M. D. Coxey and Co. Limited

Chartered Accountants

25 Grosvenor Road

Wrexham

LL11 1BT

BANKERS:

HSBC Bank plc

17-19 Regent Street

Wrexham

LL11 1RN

FIXED ASSETS

Tangible assets

4

1,797

1,714

CURRENT ASSETS

Debtors

5

21,790

9,375

Cash at bank

10,012

9,216

31,802

18,591

CREDITORS

Amounts falling due within one year

6

18,636

10,181

NET CURRENT ASSETS

13,166

8,410

TOTAL ASSETS LESS CURRENT LIABILITIES

14,963

10,124

CREDITORS

Amounts falling due after more than one year

7

(8,302

)

(10,100

)

PROVISIONS FOR LIABILITIES

8

(449

)

-

NET ASSETS

6,212

24

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

6,210

22

SHAREHOLDERS' FUNDS

6,212

24

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1st October 2025 and were signed by:

S Fisher - Director

1.	STATUTORY INFORMATION

SAF Systems 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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

Tangible fixed assets

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st January 2024

13,800

10,678

24,478

Additions

-

1,099

1,099

At 31st December 2024

13,800

11,777

25,577

DEPRECIATION

At 1st January 2024

12,498

10,266

22,764

Charge for year

261

755

1,016

At 31st December 2024

12,759

11,021

23,780

NET BOOK VALUE

At 31st December 2024

1,041

756

1,797

At 31st December 2023

1,302

412

1,714

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

5,690

5,443

Other debtors

16,000

-

Directors' current accounts

-

3,872

Prepayments

100

60

21,790

9,375

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

1,756

2,316

Tax

15,288

7,546

Social security and other taxes

-

317

Other creditors

321

2

Directors' current accounts

1,271

-

18,636

10,181

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans - 1-2 years

1,800

1,756

Bank loans - 2-5 years

5,680

5,581

Bank loans - over 5 years

822

2,763

8,302

10,100

31.12.24

31.12.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - over 5 years

822

2,763

8.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

Accelerated capital allowances

449

-

Deferred

tax

£

Movement in the year due to:

changes in tax rates

21

changes in tax allowances

428

Balance at 31st December 2024

449

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1

Ordinary

£1

1

1

1

Ordinary B

£1

1

1

2

2

10.	CAPITAL COMMITMENTS

31.12.24

31.12.23

£

£

Contracted but not provided for in the

financial statements

-

-

11.	ULTIMATE CONTROLLING PARTY

The controlling party is S Fisher.