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REGISTERED NUMBER: 03490457 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Sager Group Limited

Sager Group Limited (Registered number: 03490457)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Sager Group Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P Conran-Rabinovitch
A R Rai
V R Stanton
S Stark
A Stark





REGISTERED OFFICE: Sager House
50 Seymour Street
London
W1H 7JG





REGISTERED NUMBER: 03490457 (England and Wales)





ACCOUNTANTS: Stewarts Accountants Limited
271 High Street
Berkhamsted
Hertfordshire
HP4 1AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Sager Group Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sager Group Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sager Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sager Group Limited and state those matters that we have agreed to state to the Board of Directors of Sager Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sager Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sager Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sager Group Limited. You consider that Sager Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sager Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stewarts Accountants Limited
271 High Street
Berkhamsted
Hertfordshire
HP4 1AA


3 November 2023

Sager Group Limited (Registered number: 03490457)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 11 11

CURRENT ASSETS
Debtors 5 12,926,075 12,753,489
Cash at bank 8,064,762 8,769,495
20,990,837 21,522,984
CREDITORS
Amounts falling due within one year 6 4,004,797 3,280,708
NET CURRENT ASSETS 16,986,040 18,242,276
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,986,051

18,242,287

CREDITORS
Amounts falling due after more than one year 7 1,070,097 -
NET ASSETS 15,915,954 18,242,287

RESERVES
Capital redemption reserve 2 2
Share capital 2 2
Retained earnings 15,915,950 18,242,283
SHAREHOLDERS' FUNDS 15,915,954 18,242,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Sager Group Limited (Registered number: 03490457)

Balance Sheet - continued
30 June 2023


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





A R Rai - Director


Sager Group Limited (Registered number: 03490457)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Sager Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

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.

Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.

Sager Group Limited (Registered number: 03490457)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

The Company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment wasrecognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Sager Group Limited (Registered number: 03490457)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Offsetting of financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 July 2022
and 30 June 2023 11
NET BOOK VALUE
At 30 June 2023 11
At 30 June 2022 11

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Amounts owed by group undertakings 12,925,731 12,268,477
Other debtors 344 485,012
12,926,075 12,753,489

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 3,579 41,463
Amounts owed to group undertakings 3,243,551 3,225,612
Other creditors 757,667 13,633
4,004,797 3,280,708

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Other creditors 1,070,097 -

Sager Group Limited (Registered number: 03490457)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The Company had an ongoing HM Revenue & Customs ("HMRC") enquiry in respect of the Employee Benefit Trust ("EBT") which was established during the year ended 31 December 2008. The Company did not claim a corporation tax deduction in respect of payments to the EBT. In the current year, the Company entered into a settlement agreement with HMRC in the sum of £2,421,056.86 including interest.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption available in FRS 102 Section 33.1A "Related party
disclosures" whereby it has not disclosed transactions with any other wholly owned subsidiary undertaking of the Sager Group Limited group.