Company Registration No. 08817304 (England and Wales)
UK Safety Management Ltd
Financial Statements
for the year ended 30 September 2020
PAGES FOR FILING WITH REGISTRAR
UK Safety Management Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
UK Safety Management Ltd
Statement of financial position
as at 30 September 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,647,529
1,647,529
Tangible assets
4
52,503
65,629
1,700,032
1,713,158
Current assets
Debtors
5
1,172,448
988,233
Cash at bank and in hand
671,338
442,252
1,843,786
1,430,485
Creditors: amounts falling due within one year
6
(1,607,610)
(1,121,392)
Net current assets
236,176
309,093
Total assets less current liabilities
1,936,208
2,022,251
Provisions for liabilities
7
(5,803)
(7,380)
Net assets
1,930,405
2,014,871
Capital and reserves
Called up share capital
8
19
19
Share premium account
1,225,623
1,225,623
Profit and loss reserves
704,763
789,229
Total equity
1,930,405
2,014,871
The director of the company has elected not to include a copy of the income statement within the financial statements.
true
UK Safety Management Ltd
Statement of financial position (continued)
as at 30 September 2020
- 2 -
For the financial year ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 February 2021 and are signed on its behalf by:
M J Devlin
Director
Company Registration No. 08817304
UK Safety Management Ltd
Notes to the financial statements
for the year ended 30 September 2020
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover
represents
the fair value of the consideration received for goods and services provided in the normal course of business
, and
is shown net of VAT
. Turnover is recognised upon the provision of services.
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of
businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost
less
depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
- 20% reducing balance
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing difference
s
are 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. Such liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition
of
liabilities in a transaction that affects neither the tax profit nor the accounting profit.
UK Safety Management Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2020
1
Accounting policies
(continued)
- 4 -
Employee benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease
.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
200
210
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2019 and 30 September 2020
2,745,868
Amortisation and impairment
At 1 October 2019 and 30 September 2020
1,098,339
Carrying amount
At 30 September 2020
1,647,529
At 30 September 2019
1,647,529
UK Safety Management Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2020
- 5 -
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 October 2019 and 30 September 2020
170,906
Depreciation and impairment
At 1 October 2019
105,277
Depreciation charged in the year
13,126
At 30 September 2020
118,403
Carrying amount
At 30 September 2020
52,503
At 30 September 2019
65,629
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
1,161,410
860,570
Other debtors
-
105,605
Prepayments and accrued income
11,038
22,058
1,172,448
988,233
6
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
206,139
191,261
Invoice finance
408,258
309,747
Corporation tax
107,981
121,347
Other taxation and social security
701,574
352,591
Other creditors
4,688
-
Accruals and deferred income
178,970
146,446
1,607,610
1,121,392
The invoice finance creditor is secured against the book debts of the company.
UK Safety Management Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2020
- 6 -
7
Provisions for liabilities
2020
2019
£
£
Deferred tax liabilities
5,803
7,380
5,803
7,380
8
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
11 Ordinary shares of £1 each
11
11
8 A Ordinary shares of £1 each
8
8
19
19
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2020
2019
£
£
670,720
1,539,032
10
Company information
UK Safety Management Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
West House, King Cross Road, Halifax, West Yorkshire, HX1 1EB.