Safety Choice Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03301687 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

SAFETY CHOICE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

N P Morton

J S Dearlove

R J Curl

I Seabridge

REGISTERED OFFICE:

Unit 1

Langham Grange

Langham

Bury St Edmunds

Suffolk

IP31 3EE

REGISTERED NUMBER:

03301687 (England and Wales)

ACCOUNTANTS:

Ballams

Chartered Accountants

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

FIXED ASSETS

Intangible assets

4

24,600

28,200

Tangible assets

5

22,117

3,262

46,717

31,462

CURRENT ASSETS

Debtors

6

442,249

432,010

Cash at bank and in hand

7,094

45,827

449,343

477,837

CREDITORS

Amounts falling due within one year

7

568,073

442,352

NET CURRENT (LIABILITIES)/ASSETS

(118,730

)

35,485

TOTAL ASSETS LESS CURRENT LIABILITIES

(72,013

)

66,947

PROVISIONS FOR LIABILITIES

-

620

NET (LIABILITIES)/ASSETS

(72,013

)

66,327

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(72,113

)

66,227

(72,013

)

66,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 16 March 2020 and were signed on its behalf by:

J S Dearlove - Director

1.	STATUTORY INFORMATION

Safety Choice 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose

related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and

trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the provision of gas and

electrical safety services is recognised by reference to the stage of completion at the statement of

financial position date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the

expenses recognised that are recoverable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten 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

-

with consideration to useful life

Office equipment

-

15% on cost

Computer equipment

-

33% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable and loans with

related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables,

are measured at the undiscounted amount of the cash or other consideration expected to be paid or

received. Debt instruments that are repayable or receivable after one year are initially measured at the

present value of the future cash flows and subsequently at amortised cost using the effective interest

method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial

year for evidence of impairment. If objective evidence of impairment is found an impairment loss is

recognised in the Income Statement.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2018 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

36,000

AMORTISATION

At 1 April 2018

7,800

Amortisation for year

3,600

At 31 March 2019

11,400

NET BOOK VALUE

At 31 March 2019

24,600

At 31 March 2018

28,200

5.	TANGIBLE FIXED ASSETS

Plant and

Office

Computer

machinery

equipment

equipment

Totals

£

£

£

£

COST

At 1 April 2018

-

15,196

3,239

18,435

Additions

21,528

-

3,246

24,774

At 31 March 2019

21,528

15,196

6,485

43,209

DEPRECIATION

At 1 April 2018

-

14,656

517

15,173

Charge for year

3,896

144

1,879

5,919

At 31 March 2019

3,896

14,800

2,396

21,092

NET BOOK VALUE

At 31 March 2019

17,632

396

4,089

22,117

At 31 March 2018

-

540

2,722

3,262

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

371,196

360,780

Amounts owed by group undertakings

30,672

53,525

Other debtors

40,381

17,705

442,249

432,010

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

339,034

275,436

Amounts owed to group undertakings

63,350

45,000

Taxation and social security

145,921

70,233

Other creditors

19,768

51,683

568,073

442,352

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

68,009

24,964

Between one and five years

84,321

30,800

152,330

55,764

9.	OTHER FINANCIAL COMMITMENTS

The company has entered into a cross guarantee and debenture with its fellow group companies

namely Hillingdon (Mansfield) Limited, Gas-Elec Holdings Limited and Gas-Elec Safety (UK)

Limited. This relates to a fixed and floating charge over the assets and undertakings of the companies

and is held by Barclays Bank PLC.