REGISTERED NUMBER: 00077256 (England and Wales)

SARGEANT TURNER AND SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs K. Davies

Mr R.M.P. Davies

SECRETARY:

Mrs K. Davies

REGISTERED OFFICE:

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

REGISTERED NUMBER:

00077256 (England and Wales)

ACCOUNTANTS:

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

BANKERS:

HSBC Bank plc

114 High Street

Stourbridge

West Midlands

DY8 1DZ

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 Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income 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 Sargeant Turner and Sons Limited for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 Sargeant Turner and Sons 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 Sargeant Turner and Sons Limited and state those matters that we have agreed to state to the Board of Directors of Sargeant Turner and Sons 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 Sargeant Turner and Sons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sargeant Turner and Sons 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 Sargeant Turner and Sons Limited. You consider that Sargeant Turner and Sons 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 Sargeant Turner and Sons 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.

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

19 October 2023

FIXED ASSETS

Tangible assets

4

97

409

CURRENT ASSETS

Debtors

5

1,382

36,100

Investments

6

509,126

564,135

Cash at bank

33,431

8,315

543,939

608,550

CREDITORS

Amounts falling due within one year

7

3,840

6,717

NET CURRENT ASSETS

540,099

601,833

TOTAL ASSETS LESS CURRENT LIABILITIES

540,196

602,242

CAPITAL AND RESERVES

Called up share capital

8

19,818

19,818

Capital redemption reserve

9

7,253

7,253

Retained earnings

9

513,125

575,171

SHAREHOLDERS' FUNDS

540,196

602,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 19 October 2023 and were signed on its behalf by:

Mrs K. Davies - Director

1.	STATUTORY INFORMATION

Sargeant Turner and Sons 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.

This reporting period is longer than one year, due to a change in the company's financial year-end date. This reporting period covers the period from 1st January 2021 to the company's new financial year-end on the 31st March 2022. The comparative figures will not be entirely comparable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

Tangible assets are initially measured at cost. After initial recognition, tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the disposal proceeds and the carrying value of the asset, and is credited or charged to the statement of comprehensive income.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Current asset investments

Current asset investments are initially recongised at cost, and remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit and loss for the period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2022

and 31 March 2023

4,622

DEPRECIATION

At 1 April 2022

4,213

Charge for year

312

At 31 March 2023

4,525

NET BOOK VALUE

At 31 March 2023

97

At 31 March 2022

409

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

1,382

36,100

6.	CURRENT ASSET INVESTMENTS

2023

2022

£

£

Listed investments

509,126

564,135

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

1,573

-

Taxation and social security

-

(955

)

Other creditors

2,267

7,672

3,840

6,717

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

16,791

Ordinary

£1

16,791

16,791

3,027

3.5% Cumulative Preference

£1

3,027

3,027

19,818

19,818

During the year ended 31 March 2022 the company purchased 5,280 of its own ordinary shares and 1,973 of its own preference shares for a total consideration, including stamp duties, of £133,449.

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2022

575,171

7,253

582,424

Deficit for the year

(62,046

)

(62,046

)

At 31 March 2023

513,125

7,253

520,378

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other debtors is £nil (2022 - £31,100) owed to the company by a company director, in the form of a director's loan.