Safeguard Property Limited - Accounts to registrar (filleted) - small 18.2

Safeguard Property Limited - Accounts to registrar (filleted) - small 18.2

SAFEGUARD PROPERTY LIMITED - Company Information

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REGISTERED NUMBER: 09345752 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2019

for

Safeguard Property Limited
Safeguard Property Limited (Registered number: 09345752)






Contents of the Financial Statements
for the Year Ended 30 April 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Safeguard Property Limited

Company Information
for the Year Ended 30 April 2019







DIRECTOR: W Curry





REGISTERED OFFICE: Safeguard House, 3 Earls Court
5th Avenue Business Park
Team Valley Trading Estate
Gateshead
Tyne and Wear
NE11 0HF





REGISTERED NUMBER: 09345752 (England and Wales)





ACCOUNTANTS: Little & Neal
37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH
Page 1
Safeguard Property Limited (Registered number: 09345752)

Balance Sheet
30 April 2019

30.4.19 30.4.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,414 28,202
Investments 5 300 300
Investment property 6 575,000 575,000
595,714 603,502

CURRENT ASSETS
Debtors 7 20,405 13,133
Cash at bank 3,899 9,474
24,304 22,607
CREDITORS
Amounts falling due within one year 8 257,065 243,211
NET CURRENT LIABILITIES (232,761 ) (220,604 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
362,953
382,898

CREDITORS
Amounts falling due after more than one
year
9
(136,924
)
(147,823
)

PROVISIONS FOR LIABILITIES (37,775 ) (37,775 )
NET ASSETS 188,254 197,300

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 363,601 363,601
Retained earnings (175,349 ) (166,303 )
SHAREHOLDERS' FUNDS 188,254 197,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 notes form part of these financial statements

Page 2 continued...
Safeguard Property Limited (Registered number: 09345752)

Balance Sheet - continued
30 April 2019


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 Income Statement has not been delivered.

The financial statements were approved by the director on 30 January 2020 and were signed by:





W Curry - Director


The notes form part of these financial statements

Page 3
Safeguard Property Limited (Registered number: 09345752)

Notes to the Financial Statements
for the Year Ended 30 April 2019

1. STATUTORY INFORMATION

Safeguard Property 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.

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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 (2018 - 1 ) .

Page 4 continued...
Safeguard Property Limited (Registered number: 09345752)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2019

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2018
and 30 April 2019 59,021
DEPRECIATION
At 1 May 2018 30,819
Charge for year 7,788
At 30 April 2019 38,607
NET BOOK VALUE
At 30 April 2019 20,414
At 30 April 2018 28,202

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2018
and 30 April 2019 300
NET BOOK VALUE
At 30 April 2019 300
At 30 April 2018 300

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2018
and 30 April 2019 575,000
NET BOOK VALUE
At 30 April 2019 575,000
At 30 April 2018 575,000

Fair value at 30 April 2019 is represented by:

£   
Valuation in 2018 401,376
Cost 173,624
575,000

Page 5 continued...
Safeguard Property Limited (Registered number: 09345752)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2019

6. INVESTMENT PROPERTY - continued

If Investment Property had not been revalued it would have been included at the following historical cost:

30.4.19 30.4.18
£    £   
Cost 173,624 173,624

Investment Property was valued on an open market basis on 30 April 2019 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.19 30.4.18
£    £   
Amounts owed by group undertakings 7,863 7,850
Other debtors 12,542 5,283
20,405 13,133

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.19 30.4.18
£    £   
Bank loans and overdrafts 4,400 4,400
Trade creditors 1,712 7,022
Amounts owed to group undertakings 231,036 215,446
Other creditors 19,917 16,343
257,065 243,211

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.19 30.4.18
£    £   
Bank loans 136,924 147,823

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 119,324 130,223

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.19 30.4.18
£    £   
Bank loans 141,324 152,223

The bank loan is secured by a first legal mortgage over the Investment Property.

Page 6