Company Registration No. 08607047 (England and Wales)
ACCESS SAFETY SOLUTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2020
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
ACCESS SAFETY SOLUTIONS LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
ACCESS SAFETY SOLUTIONS LTD
COMPANY INFORMATION
- 1 -
Director
Mr T J Kelly
Company number
08607047
Registered office
96-98 Castle Lane West
Bournemouth
Dorset
England
BH9 3JU
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
ACCESS SAFETY SOLUTIONS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2020
31 December 2020
- 2 -
2020
2019
Notes
£
£
£
£
Fixed assets
Intangible assets
3
6,000
8,000
Tangible assets
4
2,092
2,384
8,092
10,384
Current assets
Debtors
5
10,462
3,681
Cash at bank and in hand
80,542
65,496
91,004
69,177
Creditors: amounts falling due within one year
6
(79,525)
(37,301)
Net current assets
11,479
31,876
Total assets less current liabilities
19,571
42,260
Provisions for liabilities
(398)
(675)
Net assets
19,173
41,585
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
19,073
41,485
Total equity
19,173
41,585
ACCESS SAFETY SOLUTIONS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2020
31 December 2020
- 3 -
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 31 December 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 30 September 2021 and are signed on its behalf by:
Mr T J Kelly
Director
Company Registration No. 08607047
The notes on pages 4 to 7 form part of these financial statements
ACCESS SAFETY SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 4 -
1
Accounting policies
Company information
Access Safety Solutions Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
96-98 Castle Lane West, Bournemouth, Dorset, England, BH9 3JU.
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 a
mounts
in these financial statements are
rounded to the nearest
pound
.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated 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 ten years.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on cost
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
.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
ACCESS SAFETY SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 5 -
1.6
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.
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.
1.7
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
3
3
ACCESS SAFETY SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2020 and 31 December 2020
20,000
Amortisation and impairment
At 1 January 2020
12,000
Amortisation charged for the year
2,000
At 31 December 2020
14,000
Carrying amount
At 31 December 2020
6,000
At 31 December 2019
8,000
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2020
11,487
Additions
1,562
At 31 December 2020
13,049
Depreciation and impairment
At 1 January 2020
9,103
Depreciation charged in the year
1,854
At 31 December 2020
10,957
Carrying amount
At 31 December 2020
2,092
At 31 December 2019
2,384
ACCESS SAFETY SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
- 7 -
5
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
10,462
3,681
6
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
247
955
Taxation and social security
13,601
19,730
Other creditors
65,677
16,616
79,525
37,301