The Safety Group Limited - Period Ending 2015-03-31

Registration number: 04712733

The Safety Group Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Hallidays
Chartered Accountants
Riverside House
Kings Reach Business Park
Yew Street
Stockport
Cheshire
SK4 2HD

The Safety Group Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

The Safety Group Limited
(Registration number: 04712733)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			253,540			236,154
Current assets
Debtors					106,902			132,271
Investments					23,250			22,500
Cash at bank and in hand					2,793			18,913
					132,945			173,684
Creditors: Amounts falling due within one year					(267,606)			(275,929)
Net current liabilities					(134,661)			(102,245)
Total assets less current liabilities					118,879			133,909
Creditors: Amounts falling due after more than one year					(97,278)			(98,348)
Provisions for liabilities					(3,588)			(4,860)
Net assets					18,013			30,701
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					17,913			30,601
Shareholders' funds					18,013			30,701

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 4 December 2015 and signed on its behalf by:

 Mr L J Taylor
 Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

The Safety Group Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Asset class	Depreciation method and rate
Website	25% straight line
Fixtures and fittings	25% reducing balance
Computer equipment	33.3% straight line

Research and development

Research and development expenditure is written off in the year in which it is incurred apart from development expenditure incurred on intellectual property relating to clearly defined projects and whose outcome can be assessed with reasonable certainty. Such expenditure is carried forward as an intangible asset and amortised from the time that turnover commences over the life of the project.

Current asset investments

Current asset investments are included at the lower of cost and net realisable value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

The Safety Group Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		257,481			257,481
Additions		28,349			28,349
At 31 March 2015		285,830			285,830
Depreciation
At 1 April 2014		21,327			21,327
Charge for the year		10,963			10,963
At 31 March 2015		32,290			32,290
Net book value
At 31 March 2015		253,540			253,540
At 31 March 2014		236,154			236,154

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		105,387			8,109
Amounts falling due after more than one year		-			98,348
Total secured creditors		105,387			106,457

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

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The Safety Group Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

5	Related party transactions

Directors' advances and credits

	2015 Dr  £	2015 Cr  £	2014 Dr  £	2014 Cr  £
Mr L J Taylor
Balance b/frd	20,083	-	28,808	-
Net salary/bonus	-	9,349	-	9,084
Cash injection	-	10,350	-	-
Other withdrawals	7,284	-	358	-
Other advancement	-	7,667	-	-
Balance C/fwd	-	-	-	20,082
	27,367	27,366	29,166	29,166
Mr S Beaumont
Balance b/frd	18,484	-	27,568	-
Net salary/bonus	-	9,139	-	9,084
Cash withdrawals	-	-	-	-
Other withdrawals	7,373	-	-	-
Other advancement	-	16,718	-	-
Balance c/fwd	-	-	-	18,484
	25,857	25,857	27,568	27,568

6

Control

The company is controlled by Mr L J Taylor and Mr S Beaumont by virtue of their 100% shareholding in Spectra Business Solutions Ltd. The Safety Group Limited is a wholly owned subsidiary of Spectra Business Solutions Ltd.

Page 4