Sawyers (Sussex) Limited 05397844 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is Estate Agency. Digita Accounts Production Advanced 6.30.9574.0 true true 05397844 2021-01-01 2021-12-31 05397844 2021-12-31 05397844 core:CurrentFinancialInstruments 2021-12-31 05397844 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 05397844 core:Non-currentFinancialInstruments 2021-12-31 05397844 core:Non-currentFinancialInstruments core:AfterOneYear 2021-12-31 05397844 core:Goodwill 2021-12-31 05397844 core:FurnitureFittingsToolsEquipment 2021-12-31 05397844 bus:SmallEntities 2021-01-01 2021-12-31 05397844 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 05397844 bus:FullAccounts 2021-01-01 2021-12-31 05397844 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 05397844 bus:RegisteredOffice 2021-01-01 2021-12-31 05397844 bus:Director4 2021-01-01 2021-12-31 05397844 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 05397844 core:Goodwill 2021-01-01 2021-12-31 05397844 core:FurnitureFittings 2021-01-01 2021-12-31 05397844 core:FurnitureFittingsToolsEquipment 2021-01-01 2021-12-31 05397844 core:MotorVehicles 2021-01-01 2021-12-31 05397844 core:OfficeEquipment 2021-01-01 2021-12-31 05397844 core:ParentEntities 2021-01-01 2021-12-31 05397844 1 2021-01-01 2021-12-31 05397844 countries:EnglandWales 2021-01-01 2021-12-31 05397844 2020-12-31 05397844 core:Goodwill 2020-12-31 05397844 core:FurnitureFittingsToolsEquipment 2020-12-31 05397844 2020-04-01 2020-12-31 05397844 2020-12-31 05397844 core:CurrentFinancialInstruments 2020-12-31 05397844 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 05397844 core:Non-currentFinancialInstruments 2020-12-31 05397844 core:Non-currentFinancialInstruments core:AfterOneYear 2020-12-31 05397844 core:Goodwill 2020-12-31 05397844 core:FurnitureFittingsToolsEquipment 2020-12-31 iso4217:GBP xbrli:pure

Registration number: 05397844

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Annual Report and Unaudited Financial Statements

for the year ended 31 December 2021

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

(Registration number: 05397844)
Statement of Financial Position
31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Intangible assets

4

-

72,000

Tangible assets

5

-

1,118

 

-

73,118

Current assets

 

Debtors

6

1

29,729

Cash at bank and in hand

 

1,945

3,559

 

1,946

33,288

Creditors: Amounts falling due within one year

7

(31,947)

(47,605)

Net current liabilities

 

(30,001)

(14,317)

Total assets less current liabilities

 

(30,001)

58,801

Creditors: Amounts falling due after more than one year

7

(34,315)

(50,000)

Provisions for liabilities

-

(212)

Net (liabilities)/assets

 

(64,316)

8,589

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(64,318)

8,587

Shareholders' (deficit)/funds

 

(64,316)

8,589

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

(Registration number: 05397844)
Statement of Financial Position
31 December 2021

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 8 September 2022
 

.........................................
R J Luff
Director

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Notes to the Unaudited Financial Statements
for the year ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wiston House
1 Wiston Avenue
Worthing
West Sussex
BN14 7QL
United Kingdom

These financial statements were authorised for issue by the director on 8 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Notes to the Unaudited Financial Statements
for the year ended 31 December 2021

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Motor vehicles

over 4 years

Office equipment

between 2-5 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 5 years

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Notes to the Unaudited Financial Statements
for the year ended 31 December 2021

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Notes to the Unaudited Financial Statements
for the year ended 31 December 2021

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 3).

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Notes to the Unaudited Financial Statements
for the year ended 31 December 2021

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2021

120,000

120,000

At 31 December 2021

120,000

120,000

Amortisation

At 1 January 2021

48,000

48,000

Amortisation charge

72,000

72,000

At 31 December 2021

120,000

120,000

Carrying amount

At 31 December 2021

-

-

At 31 December 2020

72,000

72,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2021

18,595

18,595

Disposals

(18,595)

(18,595)

At 31 December 2021

-

-

Depreciation

At 1 January 2021

17,477

17,477

Eliminated on disposal

(17,477)

(17,477)

At 31 December 2021

-

-

Carrying amount

At 31 December 2021

-

-

At 31 December 2020

1,118

1,118

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Notes to the Unaudited Financial Statements
for the year ended 31 December 2021

6

Debtors

2021
£

2020
£

Trade debtors

-

3,668

Prepayments

-

2,142

Other debtors

1

23,919

1

29,729

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Notes to the Unaudited Financial Statements
for the year ended 31 December 2021

7

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

8

10,000

-

Trade creditors

 

-

2,274

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

21,947

35,685

Taxation and social security

 

-

3,981

Accruals and deferred income

 

-

5,900

Other creditors

 

-

(235)

 

31,947

47,605

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

34,315

50,000

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

34,315

50,000

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Notes to the Unaudited Financial Statements
for the year ended 31 December 2021

2021
£

2020
£

Current loans and borrowings

Bank borrowings

10,000

-

 

Sawyers (Sussex) Limited

trading as Sawyers Estate Agents

Notes to the Unaudited Financial Statements
for the year ended 31 December 2021

9

Related party transactions

Summary of transactions with parent

The parent company is Hargan Estates Ltd whose registered office is Wiston House, 1 Wiston Avenue, Worthing, West Sussex and the principal place of business is 30 Guildborne Centre, Worthing, West Sussex.
 R J Luff is a director of Hargan Estates Ltd. During the year the company was provided a loan from Hargan Estates Ltd, as at 31 December 2021 the loan outstanding was £21,947 (31 March 2021 £35,684). This loan has been provided interest free and no formal repayment terms.
 

10

Parent and ultimate parent undertaking

The company's immediate parent is Hargan Estates Ltd, incorporated in England.