Safewear Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03972362 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2013

for

Safewear Limited

Trading as

Step Ahead

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr S S Suthi

Mr R S Singh

REGISTERED OFFICE:

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

REGISTERED NUMBER:

03972362 (England and Wales)

ACCOUNTANTS:

Clayton & Brewill

Chartered Accountants

Cawley House

149-155 Canal Street

Nottingham

Nottinghamshire

NG1 7HR

BANKERS:

HSBC

PO Box 28

328 High Street

West Bromwich

West Midlands

B70 8DL

FIXED ASSETS

Tangible assets

2

2,364

2,703

CURRENT ASSETS

Stocks

397,492

302,227

Debtors

159,765

304,886

Cash at bank

305

865

557,562

607,978

CREDITORS

Amounts falling due within one year

3

328,788

401,903

NET CURRENT ASSETS

228,774

206,075

TOTAL ASSETS LESS CURRENT LIABILITIES

231,138

208,778

CREDITORS

Amounts falling due after more than one year

3

-

8,519

NET ASSETS

231,138

200,259

CAPITAL AND RESERVES

Called up share capital

4

12

12

Profit and loss account

231,126

200,247

SHAREHOLDERS' FUNDS

231,138

200,259

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 September 2014 and were signed on its behalf by:

Mr S S Suthi - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The company's turnover represents the value excluding value added tax of goods supplied to

customers during the year.

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

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

Straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

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

at the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange

ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at

the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

26,152

Additions

1,357

At 31 December 2013

27,509

DEPRECIATION

At 1 January 2013

23,449

Charge for year

1,696

At 31 December 2013

25,145

NET BOOK VALUE

At 31 December 2013

2,364

At 31 December 2012

2,703

3.

CREDITORS

Creditors include an amount of £ 238,456 (2012 - £ 331,185 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

10

Ordinary

£1

10

10

1

''A'' Ordinary

£1

1

1

1

''B'' Ordinary

£1

1

1

12

12