Suresafe Protection Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC132827 (Scotland)

Abbreviated Accounts

For The Year Ended 31 August 2016

for

Suresafe Protection Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Trevor Johnston Lang

SECRETARY:

Trevor Johnston Lang

REGISTERED OFFICE:

8 Kelvin Road

Lenziemill Industrial Estate

Cumbernauld

G67 2BA

REGISTERED NUMBER:

SC132827 (Scotland)

ACCOUNTANTS:

Cahill Jack Associates Limited

91 Alexander Street

Airdrie

North Lanarkshire

ML6 0BD

FIXED ASSETS

Tangible assets

2

617,193

559,141

CURRENT ASSETS

Stocks

275,610

273,259

Debtors

296,349

380,421

Cash at bank and in hand

1,940

550

573,899

654,230

CREDITORS

Amounts falling due within one year

3

377,036

378,725

NET CURRENT ASSETS

196,863

275,505

TOTAL ASSETS LESS CURRENT
LIABILITIES

814,056

834,646

CREDITORS

Amounts falling due after more than one
year

3

220,645

248,432

NET ASSETS

593,411

586,214

CAPITAL AND RESERVES

Called up share capital

4

6,600

Revaluation reserve

278,150

Profit and loss account

308,661

301,464

SHAREHOLDERS' FUNDS

593,411

586,214

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 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 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 director on 24 May 2017 and were signed by:

Trevor Johnston Lang - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover is derived from the supply and embroidery of protective clothing, excluding VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

10% on reducing balance

Computer equipment

-

10% on reducing balance

Stocks

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

moving items.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 September 2015

736,286

Additions

82,828

At 31 August 2016

819,114

DEPRECIATION

At 1 September 2015

177,145

Charge for year

24,776

At 31 August 2016

201,921

NET BOOK VALUE

At 31 August 2016

617,193

At 31 August 2015

559,141

No depreciation is provided on freehold properties.It is the company's practice to maintain these assets in a

continual state of sound repair and extend and make improvements thereto from time to time and accordingly the

Director considers that the lives of these assets are so long, and residual values (based on prices prevailing at the

time of the acquisition or subsequent valuation) are so high, that their depreciation is insignificant. Any

permanent diminution in the value of such properties is charged to the profit and loss account as appropriate.

Freehold property was valued on an open market basis after 31st August 2016 by

DM Hall at an open market value of £510,000.

3.

CREDITORS

Creditors include an amount of £ 261,169 (2015 - £ 290,442 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

6,600

Ordinary

£1

6,600