Company Registration No. 08817304 (England and Wales)
UK Safety Management Ltd
Unaudited
Financial Statements
for the year ended 30 September 2021
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 2021
30 September 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,647,529
1,647,529
Tangible assets
4
42,003
52,503
1,689,532
1,700,032
Current assets
Debtors
5
1,625,410
1,172,448
Cash at bank and in hand
232,319
671,338
1,857,729
1,843,786
Creditors: amounts falling due within one year
6
(1,556,678)
(1,607,610)
Net current assets
301,051
236,176
Total assets less current liabilities
1,990,583
1,936,208
Provisions for liabilities
7
(4,559)
(5,803)
Net assets
1,986,024
1,930,405
Capital and reserves
Called up share capital
8
19
19
Share premium account
1,225,623
1,225,623
Profit and loss reserves
760,382
704,763
Total equity
1,986,024
1,930,405
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 2021
30 September 2021
- 2 -
For the financial year ended 30 September 2021 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 and signed by the director and authorised for issue on 4 March 2022
M J Devlin
Director
Company Registration No. 08817304
UK Safety Management Ltd
Notes to the financial statements
for the year ended 30 September 2021
- 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
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.
Retirement 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
.
UK Safety Management Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
223
200
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2020 and 30 September 2021
2,745,868
Amortisation and impairment
At 1 October 2020 and 30 September 2021
1,098,339
Carrying amount
At 30 September 2021
1,647,529
At 30 September 2020
1,647,529
4
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 October 2020 and 30 September 2021
170,906
Depreciation and impairment
At 1 October 2020
118,403
Depreciation charged in the year
10,500
At 30 September 2021
128,903
Carrying amount
At 30 September 2021
42,003
At 30 September 2020
52,503
UK Safety Management Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2021
- 5 -
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
1,351,510
1,161,410
Corporation tax recoverable
258,378
Prepayments and accrued income
15,522
11,038
1,625,410
1,172,448
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
244,770
206,139
Invoice finance
366,223
408,258
Amounts due to connected companies
59,750
Corporation tax
5,733
107,981
Other taxation and social security
598,057
701,574
Other creditors
4,688
Accruals and deferred income
282,145
178,970
1,556,678
1,607,610
The invoice finance creditor is secured against the book debts of the company.
7
Provisions for liabilities
2021
2020
£
£
Deferred tax liabilities
4,559
5,803
8
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
11
11
11
11
A Ordinary shares of £1 each
8
8
8
8
19
19
19
19
UK Safety Management Ltd
Notes to the financial statements (continued)
for the year ended 30 September 2021
- 6 -
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:
2021
2020
£
£
581,438
670,720
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.