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Registration number: 06456170

Safeguard Developments Ltd
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Safeguard Developments Ltd

Contents

Company Information | 1
Directors' Report | 2
Balance Sheet | 3 to 4
Notes to the Unaudited Financial Statements | 5 to 13

Safeguard Developments Ltd

Company Information

Directors | Mrs Susan Mary Guard Mr Colin Guard

Registered office | 2 Nanturras Parc Goldsithney PENZANCE TR20 9HP

Accountants | Crane & Johnston C&J Ltd Chartered Certified Accountants11 Alverton Terrace Penzance Cornwall TR18 4JH

Safeguard Developments Ltd

Directors' Report for the Year Ended 31 December 2025

The directors present their report and the financial statements for the year ended 31 December 2025.

Directors of the company

The directors who held office during the year were as follows:

Mrs Susan Mary Guard

Mr Colin Guard

Principal activity

The principal activity of the company is building work

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 4 March 2026 and signed on its behalf by:

..............................
Mrs Susan Mary Guard
Director

Safeguard Developments Ltd

(Registration number: 06456170)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 8,706 | 10,310
Investment property | 5 | 183,000 | 210,000
|  | 191,706 | 220,310
Current assets |  |  |
Debtors | 6 | 663 | 782
Cash at bank and in hand |  | 1,078 | 59
|  | 1,741 | 841
Creditors: Amounts falling due within one year | 7 | (5,058) | (4,867)
Net current liabilities |  | (3,317) | (4,026)
Total assets less current liabilities |  | 188,389 | 216,284
Creditors: Amounts falling due after more than one year | 7 | (210,916) | (198,819)
Provisions for liabilities |  | (8,884) | (14,267)
Net (liabilities)/assets |  | (31,411) | 3,198
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Revaluation reserve |  | 30,821 | 52,691
Retained earnings |  | (62,332) | (49,593)
Shareholders' (deficit)/funds |  | (31,411) | 3,198

For the financial year ending 31 December 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.

Safeguard Developments Ltd

(Registration number: 06456170)
Balance Sheet as at 31 December 2025 (continued)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 4 March 2026 and signed on its behalf by:

Mrs Susan Mary Guard Director |  |

Safeguard Developments Ltd

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

1 | General information

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

The address of its registered office is:
2 Nanturras Parc
Goldsithney
PENZANCE
TR20 9HP

These financial statements were authorised for issue by the Board on 4 March 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Safeguard Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Tax

The tax expense for the period comprises 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.

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.

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 & macinery | 15% reducing annual basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Safeguard Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Safeguard Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Safeguard Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

4 | Tangible assets

| Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2025 | 4,004 | 13,332 | 17,336
At 31 December 2025 | 4,004 | 13,332 | 17,336
Depreciation
At 1 January 2025 | 3,326 | 3,700 | 7,026
Charge for the year | 159 | 1,445 | 1,604
At 31 December 2025 | 3,485 | 5,145 | 8,630
Carrying amount
At 31 December 2025 | 519 | 8,187 | 8,706
At 31 December 2024 | 678 | 9,632 | 10,310

5 | Investment properties

| 2025 £
At 1 January | 210,000
Fair value adjustments | (27,000)
At 31 December | 183,000

The investment property was valued by the directors at 31st December 2025.

Safeguard Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

6 | Debtors

Current | 2025 £ | 2024 £
Prepayments | 663 | 782
| 663 | 782

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | - | 1,257
Trade creditors |  | 1,124 | -
Taxation and social security |  | 1,461 | 1,272
Accruals and deferred income |  | 1,810 | 1,666
Other creditors |  | 663 | 672
|  | 5,058 | 4,867

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 210,916 | 198,819

Safeguard Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

8 | Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

| Revaluation reserve £ | Total £
Surplus/deficit on property, plant and equipment revaluation | 5,130 | 5,130
Surplus/deficit on revaluation of other assets | (27,000) | (27,000)
| (21,870) | (21,870)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

| Revaluation reserve £ | Total £
Surplus/deficit on property, plant and equipment revaluation | (1,900) | (1,900)
Surplus/deficit on revaluation of other assets | 10,000 | 10,000
| 8,100 | 8,100

Safeguard Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 64,260 | 64,260
Other borrowings | 146,656 | 134,559
| 210,916 | 198,819

Current loans and borrowings

| 2025 £ | 2024 £
Bank overdrafts | - | 1,257

Safeguard Developments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

10 | Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 27,691 | 28,899
Contributions paid to money purchase schemes | 448 | 572
| 28,139 | 29,471