Abbreviated Company Accounts - SAFEKICK LIMITED

SAFEKICK LIMITED Registered Number 07020062

Abbreviated Balance Sheet as at 31 December 2013

	Notes	2013	2012
		£	£
Called up share capital not paid		-	-
Fixed assets
Tangible assets	2	46,955	34,404
Investments	3	632	632
		47,587	35,036
Current assets
Debtors		88,716	6,881
Cash at bank and in hand		3,875	91,082
		92,591	97,963
Creditors: amounts falling due within one year		(339,307)	(373,892)
Net current assets (liabilities)		(246,716)	(275,929)
Total assets less current liabilities		(199,129)	(240,893)
Total net assets (liabilities)		(199,129)	(240,893)
Capital and reserves
Called up share capital	4	1,000	1,000
Profit and loss account		(200,129)	(241,893)
Shareholders' funds		(199,129)	(240,893)

For the year ending 31 December 2013 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 5 February 2014

And signed on their behalf by:
H M Santos, Director

SAFEKICK LIMITED Registered Number 07020062

Notes to the Abbreviated Accounts for the period ended 31 December 2013

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company meets its day to day working capital requirements through a series of loans provided by the director.
The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows. The director has prepared projected cash flow information for the period ending 9 months from the date of his approval of these financial statements. On the basis of this cash flow information, the director considers that the company will continue to operate with his continued funding. On this basis, the director considesr it appropriate to prepare the financial statements on the
going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of his personal financial support of the company.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment 20% Straight Line

Valuation information and policy
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for diminution in value.

2Tangible fixed assets

	£
Cost
At 1 January 2013	34,404
Additions	24,288
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2013	58,692
Depreciation
At 1 January 2013	-
Charge for the year	11,737
On disposals	-
At 31 December 2013	11,737
Net book values
At 31 December 2013	46,955
At 31 December 2012	34,404

3Fixed assets Investments
Cost
At 1 January 2013 & at 31 December 2013 £632.

The company holds 100% of the share capital of SafeKick Americas LLC a company formed in the USA.

The aggregate amount of capital and reserves and the results of the undertakings for the last relevant financial year were as follows:
Principal activity - Development of products specific to the oil industry
Capital and reserves (£4,964,372)
loss for the year (£1,597,169)

4Called Up Share Capital
Allotted, called up and fully paid:

	2013 £	2012 £
1,000 Ordinary shares of £1 each	1,000	1,000