Caseware UK (AP4) 2021.0.152 2021.0.152 2022-12-312022-12-312023-05-10The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2022-01-01false11truetrue 12346419 2022-01-01 2022-12-31 12346419 2021-01-01 2021-12-31 12346419 2022-12-31 12346419 2021-12-31 12346419 2021-01-01 12346419 c:Director1 2022-01-01 2022-12-31 12346419 d:PlantMachinery 2022-01-01 2022-12-31 12346419 d:PlantMachinery 2022-12-31 12346419 d:PlantMachinery 2021-12-31 12346419 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12346419 d:MotorVehicles 2022-01-01 2022-12-31 12346419 d:MotorVehicles 2022-12-31 12346419 d:MotorVehicles 2021-12-31 12346419 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12346419 d:OfficeEquipment 2022-01-01 2022-12-31 12346419 d:OfficeEquipment 2022-12-31 12346419 d:OfficeEquipment 2021-12-31 12346419 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12346419 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 12346419 d:CurrentFinancialInstruments 2022-12-31 12346419 d:CurrentFinancialInstruments 2021-12-31 12346419 d:Non-currentFinancialInstruments 2022-12-31 12346419 d:Non-currentFinancialInstruments 2021-12-31 12346419 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12346419 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 12346419 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 12346419 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 12346419 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 12346419 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 12346419 d:ShareCapital 2022-12-31 12346419 d:ShareCapital 2021-12-31 12346419 d:ShareCapital 2021-01-01 12346419 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 12346419 d:RetainedEarningsAccumulatedLosses 2022-12-31 12346419 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 12346419 d:RetainedEarningsAccumulatedLosses 2021-12-31 12346419 d:RetainedEarningsAccumulatedLosses 2021-01-01 12346419 c:FRS102 2022-01-01 2022-12-31 12346419 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 12346419 c:FullAccounts 2022-01-01 2022-12-31 12346419 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 12346419









SAGE AGRICULTURAL SERVICES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
SAGE AGRICULTURAL SERVICES LIMITED
REGISTERED NUMBER: 12346419

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
49,499
42,421

  
49,499
42,421

Current assets
  

Stocks
  
8,053
10,091

Debtors: amounts falling due within one year
 5 
12,043
678

Cash at bank and in hand
 6 
25,687
4,477

  
45,783
15,246

Creditors: amounts falling due within one year
 7 
(49,064)
(18,892)

Net current liabilities
  
 
 
(3,281)
 
 
(3,646)

Total assets less current liabilities
  
46,218
38,775

Creditors: amounts falling due after more than one year
 8 
(1,263)
(9,870)

Provisions for liabilities
  

Deferred tax
  
(9,405)
(6,945)

  
 
 
(9,405)
 
 
(6,945)

Net assets
  
35,550
21,960


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
35,450
21,860

  
35,550
21,960


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SAGE AGRICULTURAL SERVICES LIMITED
REGISTERED NUMBER: 12346419
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr C D Sage
Director

Date: 10 May 2023

The notes on pages 4 to 9 form part of these financial statements.

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SAGE AGRICULTURAL SERVICES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2021
100
9,411
9,511



Profit for the year
-
26,449
26,449

Dividends: Equity capital
-
(14,000)
(14,000)



At 1 January 2022
100
21,860
21,960



Profit for the year
-
39,860
39,860

Dividends: Equity capital
-
(26,270)
(26,270)


At 31 December 2022
100
35,450
35,550


The notes on pages 4 to 9 form part of these financial statements.

img33c4.png Page 3

 
SAGE AGRICULTURAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Sage Agricultural Services Limited (12346419), is a private limited company limited by shares, incorporated in England and Wales with its registered office and principal place of business at 4 Post Office Lane, Hampton, Malpas, SY14 8JG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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SAGE AGRICULTURAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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SAGE AGRICULTURAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

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SAGE AGRICULTURAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

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SAGE AGRICULTURAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022
33,465
28,299
-
61,764


Additions
22,674
-
907
23,581



At 31 December 2022

56,139
28,299
907
85,345



Depreciation


At 1 January 2022
12,147
7,196
-
19,343


Charge for the year on owned assets
11,001
5,276
226
16,503



At 31 December 2022

23,148
12,472
226
35,846



Net book value



At 31 December 2022
32,991
15,827
681
49,499



At 31 December 2021
21,318
21,103
-
42,421


5.


Debtors

2022
2021
£
£


Trade debtors
12,043
-

Other debtors
-
678

12,043
678



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
25,687
4,477

25,687
4,477


img1bdb.png Page 8

 
SAGE AGRICULTURAL SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
8,606
8,606

Trade creditors
19,400
4,680

Corporation tax
6,084
-

Other taxation and social security
9,050
522

Other creditors
4,874
4,099

Accruals and deferred income
1,050
985

49,064
18,892



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
1,263
9,870

1,263
9,870



9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
8,606
8,606


8,606
8,606

Amounts falling due 1-2 years

Bank loans
1,263
9,870


1,263
9,870



9,869
18,476


 
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