B'afe is a term which has been altered from safe with the word 'bare' infront. Bare wounds, which is taken from the chavy term of wounds, or in normal english term of "oh dear"
Rhyming words can be used to shorten these shortened phrases, if you get what I mean. This can be applied to most words
Normal person - "oh no i lost my keys"
Chavy person - "Barry" = Barry B'ounds