REGISTERED NUMBER: |
SARGEANT TURNER AND SONS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
REGISTERED NUMBER: |
SARGEANT TURNER AND SONS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
SARGEANT TURNER AND SONS LIMITED (REGISTERED NUMBER: 00077256) |
CONTENTS OF THE 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 |
SARGEANT TURNER AND SONS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
15-17 Church Street |
Stourbridge |
West Midlands |
DY8 1LU |
BANKERS: |
114 High Street |
Stourbridge |
West Midlands |
DY8 1DZ |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SARGEANT TURNER AND SONS 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 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. |
15-17 Church Street |
Stourbridge |
West Midlands |
DY8 1LU |
SARGEANT TURNER AND SONS LIMITED (REGISTERED NUMBER: 00077256) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Investments | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital redemption reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
SARGEANT TURNER AND SONS LIMITED (REGISTERED NUMBER: 00077256) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2023 |
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 |
SARGEANT TURNER AND SONS LIMITED (REGISTERED NUMBER: 00077256) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Sargeant Turner and Sons Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Computer equipment | - |
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. |
SARGEANT TURNER AND SONS LIMITED (REGISTERED NUMBER: 00077256) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
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 |
Taxation and social security | ( |
) |
Other creditors |
SARGEANT TURNER AND SONS LIMITED (REGISTERED NUMBER: 00077256) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 16,791 | 16,791 |
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 | 582,424 |
Deficit for the year | ( |
) | ( |
) |
At 31 March 2023 | 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. |