REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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FOR |
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SAFE ONE LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 SEPTEMBER 2019 |
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FOR |
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SAFE ONE LIMITED |
SAFE ONE LIMITED (REGISTERED NUMBER: 03542806) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 September 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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SAFE ONE LIMITED |
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COMPANY INFORMATION |
for the year ended 30 September 2019 |
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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 |
One Eastwood |
Harry Weston Road |
Binley Business Park |
Coventry |
CV3 2UB |
SAFE ONE LIMITED (REGISTERED NUMBER: 03542806) |
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BALANCE SHEET |
30 September 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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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. |
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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 and authorised for issue on
and were signed on its behalf by: |
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SAFE ONE LIMITED (REGISTERED NUMBER: 03542806) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 September 2019 |
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1. | STATUTORY INFORMATION |
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Safe One 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 income receivable for management and marketing services, the use, |
development and maintenance of software and sailing fees. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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The hull of the boat is being depreciated over 30 years. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the |
company's pension scheme are charged to the income statement in the period to which they relate. |
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Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the income |
statement in administrative expenses. |
SAFE ONE LIMITED (REGISTERED NUMBER: 03542806) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2019 |
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3. | ACCOUNTING POLICIES - continued |
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Going concern |
The financial statements have been prepared on the going concern basis owing to the continued |
financial support of the directors. Cambridge Market Intelligence, a company controlled by Mr D.H. |
Sidwell, has also undertaken to provide financial support for the foreseeable future. |
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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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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2018 |
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Additions |
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Disposals | ( |
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At 30 September 2019 |
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DEPRECIATION |
At 1 October 2018 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 September 2019 |
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NET BOOK VALUE |
At 30 September 2019 |
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At 30 September 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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SAFE ONE LIMITED (REGISTERED NUMBER: 03542806) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 September 2019 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary shares | 1 | 3 | 3 |
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9. | RELATED PARTY DISCLOSURES |
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During the year the company received fees of £10,000 (2018 £10,000) in respect of management |
consultancy from E Sidwell Limited, a company in which Mr D.H. Sidwell is a director. At 30 September |
2019 £10,000 was due by E Sidwell Limited. |
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During the year the company received fees of £193,214 (2018: £101,349) in respect of licence fees |
and other charges from Cambridge Market Intelligence Limited, a company in which Mr D.H. Sidwell is |
a director. At 30 September 2019 £324,871 (2018: £387,049) was due to Cambridge Market |
Intelligence Limited. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of Mr D.H. Sidwell. |