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REGISTERED NUMBER:
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SAFETY FIRST MANUFACTURING COMPANY |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2018 |
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REGISTERED NUMBER:
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SAFETY FIRST MANUFACTURING COMPANY |
LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2018 |
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SAFETY FIRST MANUFACTURING COMPANY |
LIMITED (REGISTERED NUMBER: 03213061) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2018 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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SAFETY FIRST MANUFACTURING COMPANY |
LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
7 Sandy Court |
Ashleigh Way |
Langage Business Park |
Plymouth |
Devon |
PL7 5JX |
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BANKERS: |
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4 Old Town Street |
Plymouth |
Devon |
PL1 1DD |
SAFETY FIRST MANUFACTURING COMPANY |
LIMITED (REGISTERED NUMBER: 03213061) |
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ABRIDGED BALANCE SHEET |
30 JUNE 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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Investments | 7 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
SAFETY FIRST MANUFACTURING COMPANY |
LIMITED (REGISTERED NUMBER: 03213061) |
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ABRIDGED BALANCE SHEET - continued |
30 JUNE 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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SAFETY FIRST MANUFACTURING COMPANY |
LIMITED (REGISTERED NUMBER: 03213061) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2018 |
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1. | STATUTORY INFORMATION |
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Safety First Manufacturing Company Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents invoiced sales of safety and protective clothing and associated safety products, net of value added tax. |
Turnover is recognised upon delivery of the products. |
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Goodwill and intangible assets |
Goodwill, which represents the excess of cost of acquisitions of businesses over the value attributed to their net assets, is |
amortised through the profit and loss account by equal instalments over its estimated useful economic life of 5 years. |
Goodwill previously eliminated against reserves has not been reinstated and will only be charged to the profit and loss |
account on the subsequent disposal of any business to which it related. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Leasehold improvements | - |
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Equipment | - |
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Fixtures and fittings | - |
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Office equipment & furniture | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving |
items. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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Creditors |
Short term creditors are measured at the transaction price. |
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SAFETY FIRST MANUFACTURING COMPANY |
LIMITED (REGISTERED NUMBER: 03213061) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2018 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past |
reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date. |
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Deferred Tax |
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Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated. |
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Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of |
deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of |
a fixed asset have been met, the deferred tax is reversed. |
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Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting |
date that are expected to apply to the reversal of the timing difference. |
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The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the |
transaction that resulted in the tax expense (income). |
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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. |
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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. |
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Property partnership investment |
Amounts in Property Partnership Investment are valued at cost less amounts written off in respect of a permanent |
diminution in value. |
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Contributions to pension funds |
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in |
respect of pension costs is the contributions payable in the year. Differences between contributions payable in the year and |
contributions actually paid are shown as either accruals or prepayments in the balance sheet. |
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Government grants |
Revenue based grants are included in other income for the period to which they relate. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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SAFETY FIRST MANUFACTURING COMPANY |
LIMITED (REGISTERED NUMBER: 03213061) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2018 |
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5. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2017 |
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Additions |
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At 30 June 2018 |
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AMORTISATION |
At 1 July 2017 |
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Amortisation for year |
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At 30 June 2018 |
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NET BOOK VALUE |
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At 30 June 2018 |
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At 30 June 2017 |
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6. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2017 |
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Additions |
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At 30 June 2018 |
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DEPRECIATION |
At 1 July 2017 |
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Charge for year |
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At 30 June 2018 |
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NET BOOK VALUE |
At 30 June 2018 |
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At 30 June 2017 |
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7. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1 July 2017 |
and 30 June 2018 | 73,171 |
NET BOOK VALUE |
At 30 June 2018 | 73,171 |
At 30 June 2017 | 73,171 |
SAFETY FIRST MANUFACTURING COMPANY |
LIMITED (REGISTERED NUMBER: 03213061) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2018 |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 June 2018 and 30 June 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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Mrs E Drake's and Mrs A Thatcher's overdrawn balances will be cleared within 9 months of the year end, therefore no S455 |
tax will be due. |