PROACTIVE_SAFETY_ADVISORY - Accounts


Company Registration No. SC425045 (Scotland)
PROACTIVE SAFETY ADVISORY SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
PAGES FOR FILING WITH REGISTRAR
PROACTIVE SAFETY ADVISORY SERVICES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
PROACTIVE SAFETY ADVISORY SERVICES LTD
BALANCE SHEET
AS AT
30 JUNE 2020
30 June 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,079
992
Investments
4
15,501
10,023
16,580
11,015
Current assets
Debtors
5
-
0
9,268
Cash at bank and in hand
290,742
286,958
290,742
296,226
Creditors: amounts falling due within one year
6
(16,363)
(23,322)
Net current assets
274,379
272,904
Total assets less current liabilities
290,959
283,919
Provisions for liabilities
Deferred tax liability
205
169
(205)
(169)
Net assets
290,754
283,750
Capital and reserves
Called up share capital
7
40
40
Profit and loss reserves
290,714
283,710
Total equity
290,754
283,750
PROACTIVE SAFETY ADVISORY SERVICES LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2020
30 June 2020
- 2 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 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.

The 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 24 June 2021
Mr D Anderson
Director
Company Registration No. SC425045
PROACTIVE SAFETY ADVISORY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
- 3 -
1
Accounting policies
Company information

Proactive Safety Advisory Services Ltd is a private company limited by shares incorporated in Scotland. The registered office is 66 Tay Street, Perth, PH2 8RA.

1.1
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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for safety advice services.

 

Revenue is recognised when the company has entitlement to the income in exchange for the provision of services.

1.3
Tangible fixed assets

Tangible fixed assets are initially and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Other fixed asset investments are initially measured at cost and subsequently measured at fair value at the end of each reporting period, with any changes in fair value recognised through profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

PROACTIVE SAFETY ADVISORY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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 profit and loss account 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.

PROACTIVE SAFETY ADVISORY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets 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 assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2019 - 1).

PROACTIVE SAFETY ADVISORY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2019
4,009
Additions
374
At 30 June 2020
4,383
Depreciation
At 1 July 2019
3,017
Depreciation charged in the year
287
At 30 June 2020
3,304
Carrying amount
At 30 June 2020
1,079
At 30 June 2019
992
4
Fixed asset investments
2020
2019
£
£
Investments
10,023
10,023
Other investments
5,478
-
0
15,501
10,023
Fixed asset investments not carried at market value

As the company has traded in equity instruments which are not publicly traded and the fair value cannot be measured reliably, the directors have valued the investment at cost less impairment. The director confirms that he considers there to be no need to impair this investment.

PROACTIVE SAFETY ADVISORY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments other than loans
Other investments
Total
£
£
£
Cost or valuation
At 1 July 2019
10,023
-
10,023
Additions
-
5,478
5,478
At 30 June 2020
10,023
5,478
15,501
Carrying amount
At 30 June 2020
10,023
5,478
15,501
At 30 June 2019
10,023
-
0
10,023
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
0
6,586
Other debtors
-
0
2,682
-
0
9,268
6
Creditors: amounts falling due within one year
2020
2019
£
£
Corporation tax
13,330
17,651
Other creditors
3,033
5,671
16,363
23,322
PROACTIVE SAFETY ADVISORY SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
- 8 -
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
40Ordinary 'A' Shares of £1 each
40
40
40
40
8
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Key Management Personnel
2.50
(3,096)
61,339
213
(58,968)
(512)
(3,096)
61,339
213
(58,968)
(512)

The above loan is unsecured, includes interest and is repayable on demand.

2020-06-302019-07-01false25 June 2021CCH SoftwareCCH Accounts Production 2021.100No description of principal activityMr D AndersonSC4250452019-07-012020-06-30SC4250452020-06-30SC4250452019-06-30SC425045core:OtherPropertyPlantEquipment2020-06-30SC425045core:OtherPropertyPlantEquipment2019-06-30SC425045core:CurrentFinancialInstrumentscore:WithinOneYear2020-06-30SC425045core:CurrentFinancialInstrumentscore:WithinOneYear2019-06-30SC425045core:CurrentFinancialInstruments2020-06-30SC425045core:CurrentFinancialInstruments2019-06-30SC425045core:ShareCapital2020-06-30SC425045core:ShareCapital2019-06-30SC425045core:RetainedEarningsAccumulatedLosses2020-06-30SC425045core:RetainedEarningsAccumulatedLosses2019-06-30SC425045core:ShareCapitalOrdinaryShares2020-06-30SC425045core:ShareCapitalOrdinaryShares2019-06-30SC425045bus:Director12019-07-012020-06-30SC425045core:PlantMachinery2019-07-012020-06-30SC425045core:FurnitureFittings2019-07-012020-06-30SC4250452018-07-012019-06-30SC425045core:OtherPropertyPlantEquipment2019-06-30SC425045core:OtherPropertyPlantEquipment2019-07-012020-06-30SC425045core:Non-currentFinancialInstruments2020-06-30SC425045core:Non-currentFinancialInstruments2019-06-30SC425045core:WithinOneYear2020-06-30SC425045core:WithinOneYear2019-06-30SC425045bus:OrdinaryShareClass12020-06-30SC425045bus:OrdinaryShareClass12019-07-012020-06-30SC425045bus:PrivateLimitedCompanyLtd2019-07-012020-06-30SC425045bus:SmallCompaniesRegimeForAccounts2019-07-012020-06-30SC425045bus:FRS1022019-07-012020-06-30SC425045bus:AuditExemptWithAccountantsReport2019-07-012020-06-30SC425045bus:FullAccounts2019-07-012020-06-30xbrli:purexbrli:sharesiso4217:GBP