IRIS Accounts Production v18.3.0.592 01504318 director 1.9.17 31.8.18 31.8.18 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure015043182017-08-31015043182018-08-31015043182017-09-012018-08-31015043182016-08-31015043182016-09-012017-08-31015043182017-08-3101504318ns15:EnglandWales2017-09-012018-08-3101504318ns14:PoundSterling2017-09-012018-08-3101504318ns10:Director12017-09-012018-08-3101504318ns10:PrivateLimitedCompanyLtd2017-09-012018-08-3101504318ns10:SmallEntities2017-09-012018-08-3101504318ns10:AuditExempt-NoAccountantsReport2017-09-012018-08-3101504318ns10:SmallCompaniesRegimeForDirectorsReport2017-09-012018-08-3101504318ns10:SmallCompaniesRegimeForAccounts2017-09-012018-08-3101504318ns10:AbridgedAccounts2017-09-012018-08-310150431812017-09-012018-08-3101504318ns10:CompanySecretary12017-09-012018-08-3101504318ns10:RegisteredOffice2017-09-012018-08-3101504318ns5:CurrentFinancialInstruments2018-08-3101504318ns5:CurrentFinancialInstruments2017-08-3101504318ns5:ShareCapital2018-08-3101504318ns5:ShareCapital2017-08-3101504318ns5:RetainedEarningsAccumulatedLosses2018-08-3101504318ns5:RetainedEarningsAccumulatedLosses2017-08-3101504318ns5:NetGoodwill2017-09-012018-08-3101504318ns5:IntangibleAssetsOtherThanGoodwill2017-09-012018-08-3101504318ns5:PlantMachinery2017-09-012018-08-3101504318ns10:Director112017-08-3101504318ns10:Director112016-08-3101504318ns10:Director112017-09-012018-08-3101504318ns10:Director112016-09-012017-08-3101504318ns10:Director112018-08-3101504318ns10:Director112017-08-3101504318ns10:Director22017-09-012018-08-3101504318ns10:Director222017-08-3101504318ns10:Director222016-08-3101504318ns10:Director222017-09-012018-08-3101504318ns10:Director222016-09-012017-08-3101504318ns10:Director222018-08-3101504318ns10:Director222017-08-31


REGISTERED NUMBER: 01504318 (England and Wales)


















Unaudited Financial Statements for the Year Ended 31 August 2018

for

Savage and Sons (Electrical) Limited

Savage and Sons (Electrical) Limited (Registered number: 01504318)






Contents of the Financial Statements
for the Year Ended 31 August 2018




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Savage and Sons (Electrical) Limited

Company Information
for the Year Ended 31 August 2018







DIRECTOR: D.J. Savage





SECRETARY: J A Savage





REGISTERED OFFICE: 1 Pegasus Mews
Stratton Business Park
Biggleswade
Bedfordshire
SG18 8QA





REGISTERED NUMBER: 01504318 (England and Wales)





ACCOUNTANTS: George Hay Partnership LLP
Chartered Accountants
Brigham House
High Street
Biggleswade
Bedfordshire
SG18 0LD

Savage and Sons (Electrical) Limited (Registered number: 01504318)

Abridged Balance Sheet
31 August 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 209,388 208,084
209,388 208,084

CURRENT ASSETS
Stocks 4,345 3,950
Debtors 599,664 818,190
Cash at bank and in hand 316,274 360,566
920,283 1,182,706
CREDITORS
Amounts falling due within one year 297,116 449,490
NET CURRENT ASSETS 623,167 733,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

832,555

941,300

PROVISIONS FOR LIABILITIES 24,010 23,821
NET ASSETS 808,545 917,479

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 808,445 917,379
SHAREHOLDERS' FUNDS 808,545 917,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Savage and Sons (Electrical) Limited (Registered number: 01504318)

Abridged Balance Sheet - continued
31 August 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 12 November 2018 and were signed by:





D.J. Savage - Director


Savage and Sons (Electrical) Limited (Registered number: 01504318)

Notes to the Financial Statements
for the Year Ended 31 August 2018

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1992, was written
off evenly over it's estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured
at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

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 profit or loss in the period to which they relate.

Savage and Sons (Electrical) Limited (Registered number: 01504318)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2018

2. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2017
and 31 August 2018 4,500
AMORTISATION
At 1 September 2017
and 31 August 2018 4,500
NET BOOK VALUE

At 31 August 2018 -
At 31 August 2017 -

3. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2017 466,848
Additions 38,459
Disposals (17,469 )
At 31 August 2018 487,838
DEPRECIATION
At 1 September 2017 258,764
Charge for year 35,750
Eliminated on disposal (16,064 )
At 31 August 2018 278,450
NET BOOK VALUE
At 31 August 2018 209,388
At 31 August 2017 208,084

4. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2018 and
31 August 2017:

2018 2017
£    £   
D.J. Savage
Balance outstanding at start of year 1,598 48,816
Amounts advanced 4,378 1,598
Amounts repaid (1,598 ) (48,816 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,378 1,598

Savage and Sons (Electrical) Limited (Registered number: 01504318)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2018

4. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

K.M. Ball
Balance outstanding at start of year 15 -
Amounts advanced - 15
Amounts repaid (15 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 15

5. CONTROL RELATIONSHIPS

The company was controlled throughout the current and previous years by the majority shareholder
and director, D.J. Savage who by virtue has control over 77% of the issued share capital.