Company registration number 02865802 (England and Wales)
Safer Systems (UK) Limited
Unaudited Financial Statements
For the year ended 31 October 2025
Safer Systems (UK) Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9
Safer Systems (UK) Limited
Statement Of Financial Position
As at 31 October 2025
31 October 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
987
1,645
Tangible assets
4
4,213
5,376
Investments
5
92
92
5,292
7,113
Current assets
Stocks
163,721
167,725
Debtors
6
195,064
260,669
Cash at bank and in hand
476
353
359,261
428,747
Creditors: amounts falling due within one year
7
(272,776)
(332,859)
Net current assets
86,485
95,888
Total assets less current liabilities
91,777
103,001
Creditors: amounts falling due after more than one year
8
(197,150)
(73,507)
Net (liabilities)/assets
(105,373)
29,494
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(105,473)
29,394
Total equity
(105,373)
29,494
Safer Systems (UK) Limited
Statement Of Financial Position (continued)
As at 31 October 2025
31 October 2025
- 2 -

For the financial year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 July 2026 and are signed on its behalf by:
Mr S J Bane
Director
Company registration number 02865802 (England and Wales)
Safer Systems (UK) Limited
Notes to the financial statements
For the year ended 31 October 2025
- 3 -
1
Accounting policies
Company information

Safer Systems (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hilderstone House, Cresswell Road, Stone, Staffordshire, United Kingdom, ST15 8RF.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis.

During the period, the UK Government introduced legislation in March 2024 in respect of a Deposit Return Scheme (DRS), expected to be implemented in October 2027. As a result, the company undertook a detailed review of its existing reverse vending machine estate and determined that certain existing machines would not be suitable for upgrade to meet the new regulatory requirements.

Accordingly, the company has invested significant time and resources in the development of a redesigned reverse vending machine, incorporating both retained elements of the existing design and new functionality required to comply with DRS requirements. The new machine is substantially developed from a mechanical perspective and is currently awaiting integration with the Application Programming Interface (API) being developed by the relevant government body.

The directors have prepared cash flow forecasts for a period of at least 12 months from the date of approval of these financial statements. These forecasts include assumptions regarding continued development expenditure, the timing of the API release, and the planned rollout of machines, including beta testing at customer sites during 2027.

The forecasts also take into account the company’s ongoing engagement with existing customers and the potential expansion into international markets where similar schemes are being developed.

On the basis of these forecasts and available resources, the directors have a reasonable expectation that the company will be able to meet its liabilities as they fall due for the foreseeable future.

1.3
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Safer Systems (UK) Limited
Notes to the financial statements (continued)
For the year ended 31 October 2025
1
Accounting policies
(Continued)
- 4 -
1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
10 years
Development costs
fully amortised at period end
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
at varying rates on cost
Plant and machinery
20% on reducing balance
Fixtures and fittings
20% on reducing balance
Computers
33.33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Safer Systems (UK) Limited
Notes to the financial statements (continued)
For the year ended 31 October 2025
1
Accounting policies
(Continued)
- 5 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax, if applicable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Safer Systems (UK) Limited
Notes to the financial statements (continued)
For the year ended 31 October 2025
1
Accounting policies
(Continued)
- 6 -

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.14

Research and development

Development costs incurred are capitalised, and amortised in future years in line with the levels of production. All development costs currently in the financial statements have been fully amortised.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
Safer Systems (UK) Limited
Notes to the financial statements (continued)
For the year ended 31 October 2025
- 7 -
3
Intangible fixed assets
Patents & licences
Development costs
Total
£
£
£
Cost
At 1 November 2024 and 31 October 2025
6,711
419,704
426,415
Amortisation and impairment
At 1 November 2024
5,066
419,704
424,770
Amortisation charged for the year
658
-
0
658
At 31 October 2025
5,724
419,704
425,428
Carrying amount
At 31 October 2025
987
-
0
987
At 31 October 2024
1,645
-
0
1,645
4
Tangible fixed assets
Leasehold improvements
Plant and machinery
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 November 2024 and 31 October 2025
80,892
76,991
152,380
48,958
359,221
Depreciation and impairment
At 1 November 2024
80,892
76,288
148,372
48,293
353,845
Depreciation charged in the year
-
0
141
802
220
1,163
At 31 October 2025
80,892
76,429
149,174
48,513
355,008
Carrying amount
At 31 October 2025
-
0
562
3,206
445
4,213
At 31 October 2024
-
0
703
4,008
665
5,376
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
92
92
Safer Systems (UK) Limited
Notes to the financial statements (continued)
For the year ended 31 October 2025
5
Fixed asset investments
(Continued)
- 8 -

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Safer Systems Innovations Limited

Registered office: Unit 4d High Holborn Road, Ripley, Derbyshire, DE5 3NW

Nature of business: Dormant

Class of shares: Ordinary

Holding: 92%

Aggregate capital and reserves: 2024 - £100 (2023 - £100).

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
188,069
244,232
Other debtors
6,995
16,437
195,064
260,669
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
158,361
199,334
Trade creditors
48,920
34,933
Amounts owed to group undertakings
100
100
Taxation and social security
10,072
12,406
Other creditors
55,323
86,086
272,776
332,859
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
197,150
73,507
Safer Systems (UK) Limited
Notes to the financial statements (continued)
For the year ended 31 October 2025
- 9 -
9
Loans and overdrafts
2025
2024
£
£
Bank loans
253,556
134,252
Bank overdrafts
101,955
138,589
355,511
272,841
Payable within one year
158,361
199,334
Payable after one year
197,150
73,507

The debts are secured by a fixed and floating charge over the remaining assets of the company.

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