REGISTERED NUMBER: 13424837 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

ACCURATE SAFETY MANUFACTURING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

P Gilligan

Registered office:

3rd Floor

86-90 Paul Street

London

EC2A 4NE

Registered number:

13424837 (England and Wales)

Fixed assets

Intangible assets

4

30,000

-

Tangible assets

5

20,787

20,599

50,787

20,599

Current assets

Debtors

6

84,612

15,454

Cash at bank

717

102

85,329

15,556

Creditors

Amounts falling due within one year

7

61,072

48,624

Net current assets/(liabilities)

24,257

(33,068

)

Total assets less current liabilities

75,044

(12,469

)

Creditors

Amounts falling due after more than one year

8

-

3,080

Net assets/(liabilities)

75,044

(15,549

)

Capital and reserves

Called up share capital

9

132

107

Share premium

240,091

51,091

Retained earnings

(165,179

)

(66,747

)

Shareholders' funds

75,044

(15,549

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 December 2025 and were signed by:

P Gilligan - Director

1.	Statutory information

Accurate Safety Manufacturing Ltd 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.

The directors have carefully evaluated the company's ability to continue operating as a going concern for at least twelve months following the approval of these financial statements. This evaluation included a thorough review of current financial performance, projections for future operations, cash flow forecasts, and strategic initiatives already underway or planned for early 2025.

The directors acknowledge the net loss reported for the financial year ending 31 December 2024. However, the financial position has significantly improved from the previous year, reflecting strategic investment and operational restructuring undertaken throughout 2024. Crucially, Accurate Safety Manufacturing Ltd has secured significant investor support, demonstrated by the successful equity funding rounds in both 2022 and 2024, raising a combined total of £240,090.40. This investor confidence is further evidenced by the planned strategic appointments to senior management roles and the establishment of a strengthened board, which will drive the company's growth and operational effectiveness in 2025.

The company has clearly outlined strategic plans to enhance business performance and customer experience, including launching a digitally enhanced customer-focused website, expanding automated quoting and e-commerce capabilities, and developing a new operational model for edge protection rental. These initiatives are expected to significantly boost revenue streams and enhance profitability.

Additionally, Accurate Safety Manufacturing Ltd will move into new operational premises, a 5,000 sq. ft. facility in Attenborough, Nottingham with a dedicated Tooling and CNC room, commencing January 2025. This facility will increase the company's capacity and efficiency, further improving its competitive positioning.

Given these robust financial and operational strategies, along with continued strong investor backing and management's confidence in successfully implementing strategic initiatives, the directors firmly believe the company will have sufficient resources to continue operations effectively and to meet its liabilities as they fall due.

Based on this comprehensive assessment, the directors have a reasonable expectation that the company has adequate resources to continue as a going concern for the foreseeable future. Consequently, the financial statements have been prepared on a going concern basis.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Plant and machinery

-

Straight line over 5 years

Computer equipment

-

Straight line over 3 years

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

3.	Employees and directors

The average number of employees during the year was 3 (2023 - 2 ) .

4.	Intangible fixed assets

Patents and

licences

£

Cost

Additions

30,000

At 31 December 2024

30,000

Net book value

At 31 December 2024

30,000

5.	Tangible fixed assets

Plant and

Computer

machinery

equipment

Totals

£

£

£

Cost

At 1 January 2024

22,750

333

23,083

Additions

-

658

658

At 31 December 2024

22,750

991

23,741

Depreciation

At 1 January 2024

2,438

46

2,484

Charge for year

470

-

470

At 31 December 2024

2,908

46

2,954

Net book value

At 31 December 2024

19,842

945

20,787

At 31 December 2023

20,312

287

20,599

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

49,333

(23,789

)

Other debtors

35,279

39,243

84,612

15,454

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Trade creditors

23,902

(3,722

)

Taxation and social security

50,693

36,110

Other creditors

(13,523

)

16,236

61,072

48,624

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Other creditors

-

3,080

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

103,427

Ordinary shares

£0.001

132

107

10.	Related party disclosures

At the year-end date there were Director loans to the value of £34,809, This amount is interest-free.

During the year sales totaling £162, 640 were made to a company under common directorship. These sales were at arm's length.