Registration number:
Scott & Sargeant Holdings Limited
for the Year Ended 31 December 2022
Scott & Sargeant Holdings Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Scott & Sargeant Holdings Limited
Company Information
Directors |
Mr P F Charnaud Mr P J Charnaud |
Company secretary |
Mr P J Charnaud |
Registered office |
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Accountants |
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Scott & Sargeant Holdings Limited
(Registration number: 03706044)
Balance Sheet as at 31 December 2022
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2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Scott & Sargeant Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
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.
The financial statements are presented in Sterling, which is the functional currency of the company.
Group accounts not prepared
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet 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 over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold land and buildings |
No depreciation |
Scott & Sargeant Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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Additions |
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At 31 December 2022 |
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Depreciation |
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Carrying amount |
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At 31 December 2022 |
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Included within the net book value of land and buildings above is £386,668 (2021 - £Nil) in respect of freehold land and buildings let out to its subsidiary undertaking.
Scott & Sargeant Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Investments |
2022 |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
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Cost |
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At 1 January 2022 |
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At 31 December 2022 |
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Carrying amount |
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At 31 December 2022 |
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At 31 December 2021 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2021 |
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Subsidiary undertakings |
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1 Blatchford Road, Horsham, West
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Subsidiary undertakings |
Scott and Sargeant Wood Working Machinery Limited The principal activity of Scott and Sargeant Wood Working Machinery Limited is |
Scott & Sargeant Holdings Limited
Notes to the Financial Statements for the Year Ended 31 December 2022
Debtors |
Note |
2022 |
2021 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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- |
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Accrued income |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Related party transactions |
Summary of transactions with all subsidiaries
Scott & Sargeant Wood Working Machinery Limited
Scott & Sargeant Wood Working Machinery Limited was a 100% subsidiary undertaking of the company at the balance sheet date. Mr P F Charnaud and Mr P J Charnaud were directors of Scott & Sargeant Wood Working Machinery Limited up to 13 January 2023.
During the year, dividends totalling £6,586,668 (2021: £Nil) were paid by Scott & Sargeant Wood Working Machinery Limited to the company. £386,668 of this was a dividend in specie by way of transfer of the property Scott & Sargeant Wood Working Machinery Limited trades from.
From the date the above property was transferred, the company charged rent at a rate of £200,000 per annum to Scott & Sargeant Wood Working Machinery Limited for the occupation of the property.
During the year, the company has lent £6,200,000 to Scott & Sargeant Wood Working Machinery Limited which was still outstanding as at the balance sheet date. The loan is interest free and repayable on demand.
In addition to the above the company owes £9,843 (£2021: £27) to Scott & Sargeant Wood Working Machinery Limited for certain expenses paid on its behalf.