Safety First Lifting Gear Services Ltd Company accounts

COMPANY REGISTRATION NUMBER: 05374422

Safety First Lifting Gear Services Ltd

Unaudited Financial Statements

28 February 2026

Safety First Lifting Gear Services Ltd

Financial Statements

Year ended 28 February 2026

Contents	Page

Directors' report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	5

The following pages do not form part of the financial statements

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	11

Safety First Lifting Gear Services Ltd

Directors' Report

Year ended 28 February 2026

The directors present their report and the unaudited financial statements of the company for the year ended 28 February 2026 .

Directors

The directors who served the company during the year were as follows:

Mr S Marshall
Mrs A Marshall
Mr T Marshall	(Appointed 1 June 2025)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 2 June 2026 and signed on behalf of the board by:

Mr S Marshall

Director

Registered office:

Unit 17 Estuary Road

Queensway Meadows

Newport

NP19 4SP

Safety First Lifting Gear Services Ltd

Statement of Income and Retained Earnings

Year ended 28 February 2026

	2026	2025
Note	£	£
Turnover	673,106	596,570

Cost of sales	386,426	340,612
	---------	---------
Gross profit	286,680	255,958

Administrative expenses	156,292	154,982
	---------	---------
Operating profit	130,388	100,976

Interest payable and similar expenses		485	733
		---------	---------
Profit before taxation	5	129,903	100,243

Tax on profit	6	26,861	21,525
		---------	---------
Profit for the financial year and total comprehensive income		103,042	78,718
		---------	---------

Dividends paid and payable	( 104,800)	( 81,500)

Retained earnings at the start of the year	244,916	247,698
	---------	---------
Retained earnings at the end of the year	243,158	244,916
	---------	---------

All the activities of the company are from continuing operations.

Safety First Lifting Gear Services Ltd

Statement of Financial Position

28 February 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	7		68,727	48,337

Current assets

Stocks		20,000	33,100
Debtors	8	107,784	168,529
Cash at bank and in hand		144,893	93,608
		---------	---------
		272,677	295,237

Creditors: amounts falling due within one year	9	93,146		84,314
		---------		---------
Net current assets			179,531	210,923
			---------	---------
Total assets less current liabilities			248,258	259,260

Creditors: amounts falling due after more than one year	10	–	9,244
		---------	---------
Net assets		248,258	250,016
		---------	---------

Capital and reserves

Called up share capital	5,100	5,100
Profit and loss account	243,158	244,916
	---------	---------
Shareholders funds	248,258	250,016
	---------	---------

These financial statements have been prepared 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'.

For the year ending 28 February 2026 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Safety First Lifting Gear Services Ltd

Statement of Financial Position (continued)

28 February 2026

These financial statements were approved by the board of directors and authorised for issue on 2 June 2026 , and are signed on behalf of the board by:

Mr S Marshall

Director

Company registration number: 05374422

Safety First Lifting Gear Services Ltd

Notes to the Financial Statements

Year ended 28 February 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 17 Estuary Road, Queensway Meadows, Newport, NP19 4SP.

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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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.

Income 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant & Machinery	-	20% reducing balance
Fixtures, Fittings & Equipment	-	33% straight line
Motor Vehicles	-	20% reducing balance

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

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 4 (2025: 4 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2026	2025
	£	£
Depreciation of tangible assets	14,605	6,295
	--------	-------

6. Tax on profit

Major components of tax expense

	2026	2025
	£	£

Current tax:

UK current tax expense	26,861	21,525
	--------	--------
Tax on profit	26,861	21,525
	--------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2025: lower than) the standard rate of corporation tax in the UK of 23.25 % (2025: 22.57 %).

	2026	2025
	£	£
Profit on ordinary activities before taxation	129,903	100,243
	---------	---------
Profit on ordinary activities by rate of tax	30,207	22,623
Effect of expenses not deductible for tax purposes	1,395	1,681
Effect of capital allowances and depreciation	( 4,741)	( 2,779)
	---------	---------
Tax on profit	26,861	21,525
	---------	---------

7. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 March 2025	124,203	29,055	15,500	168,758
Additions	–	–	34,995	34,995
	---------	--------	--------	---------
At 28 February 2026	124,203	29,055	50,495	203,753
	---------	--------	--------	---------
Depreciation
At 1 March 2025	92,410	27,753	258	120,421
Charge for the year	8,765	407	5,433	14,605
	---------	--------	--------	---------
At 28 February 2026	101,175	28,160	5,691	135,026
	---------	--------	--------	---------
Carrying amount
At 28 February 2026	23,028	895	44,804	68,727
	---------	--------	--------	---------
At 28 February 2025	31,793	1,302	15,242	48,337
	---------	--------	--------	---------

8. Debtors

	2026	2025
	£	£
Trade debtors	104,903	167,346
Other debtors	2,881	1,183
	---------	---------
	107,784	168,529
	---------	---------

9. Creditors: amounts falling due within one year

	2026	2025
	£	£
Bank loans and overdrafts	9,244	10,163
Trade creditors	40,500	37,693
Corporation tax	26,861	21,525
Social security and other taxes	1,124	12,590
Other creditors	15,417	2,343
	--------	--------
	93,146	84,314
	--------	--------

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

	2026	2025
	£	£
Bank loans and overdrafts	–	9,244
	----	-------

11. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2026	2025
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	249,796	260,954
	---------	---------

Financial liabilities measured at fair value through profit or loss

Financial liabilities measured at fair value through profit or loss	65,161	79,444
	--------	--------

12. Directors' advances, credits and guarantees

The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding to the director was £13,857 (2025: £783); this amount being included in creditors: amounts falling within one year.

13. Related party transactions

The company was under the control of Mr S Marshall and Mrs A Marshall throughout the current and previous year. Mr S Marshall is the managing director and equal shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS102 section 1A.

Safety First Lifting Gear Services Ltd

Management Information

Year ended 28 February 2026

The following pages do not form part of the financial statements.

Safety First Lifting Gear Services Ltd

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Safety First Lifting Gear Services Ltd

Year ended 28 February 2026

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 28 February 2026, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

PARKER & CO Accountants

Summit House 10 Waterside Court City of Newport South Wales NP20 5NT

2 June 2026