2022-04-012023-03-312023-03-31false09839864SARAH GRACE MORTGAGES 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SARAH GRACE MORTGAGES LIMITED

Registered Number
09839864
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

SARAH GRACE MORTGAGES LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

GRACE, Sarah Jane

Registered Address

East Barn
Chedglow
Malmesbury
SN16 9EZ

Registered Number

09839864 (England and Wales)
SARAH GRACE MORTGAGES LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets548,00060,000
Tangible assets622,4743,053
70,47463,053
Current assets
Debtors741,04617,340
Cash at bank and on hand201,745155,083
242,791172,423
Creditors amounts falling due within one year8(41,494)(25,983)
Net current assets (liabilities)201,297146,440
Total assets less current liabilities271,771209,493
Creditors amounts falling due after one year9(36,459)(46,065)
Provisions for liabilities10(4,270)(580)
Net assets231,042162,848
Capital and reserves
Called up share capital200200
Profit and loss account230,842162,648
Shareholders' funds231,042162,848
The financial statements were approved and authorised for issue by the Director on 28 October 2023, and are signed on its behalf by:
GRACE, Sarah Jane
Director
Registered Company No. 09839864
SARAH GRACE MORTGAGES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings4
Office Equipment4
Intangible assets policy
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.
Revenue recognition policy
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year24
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 22120,000120,000
At 31 March 23120,000120,000
Amortisation and impairment
At 01 April 2260,00060,000
Charge for year12,00012,000
At 31 March 2372,00072,000
Net book value
At 31 March 2348,00048,000
At 31 March 2260,00060,000
6.Property, plant and equipment

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 April 221,6997,9639,662
Additions27,0525627,108
At 31 March 2328,7518,01936,770
Depreciation and impairment
At 01 April 229975,6126,609
Charge for year6,7139747,687
At 31 March 237,7106,58614,296
Net book value
At 31 March 2321,0411,43322,474
At 31 March 227022,3513,053
7.Debtors

2023

2022

££
Trade debtors / trade receivables1,6255,242
Other debtors33,8276,306
Prepayments and accrued income5,5945,792
Total41,04617,340
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs. Short term debtors includes a loan to the director outstanding at the year end of £33,827 (2022 - £6,306).
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables4,9861,573
Taxation and social security33,62820,580
Accrued liabilities and deferred income2,8803,830
Total41,49425,983
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts36,45946,065
Total36,45946,065
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)4,270580
Total4,270580