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Registered Number: 04169164
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 28 February 2023

for

SEXTON DEVELOPMENTS (SW) LTD

Director Mr K Sexton
Registered Number 04169164
Registered Office Beech Road Business Park
Beech Road
Ivybridge
Devon
PL21 9HN
Accountants H M Williams Chartered Certified Accountants
5 Sandy Court
Ashleigh Way
Plymouth
PL7 5JX
Secretary Mrs P J Sexton
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 28 February 2023.
Principal activities
The principal activity of the company in the year under review was that of construction of domestic buildings.
Director
The director who has held office during the whole of the year was as follows:
Mr K Sexton
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Mr K Sexton
Director

Date approved: 08 November 2023
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 3,514    4,684 
3,514    4,684 
Current assets      
Stocks 5 455,166    342,629 
Debtors 6 6,309    16,718 
Cash at bank and in hand 38,027    10,929 
499,502    370,276 
Creditors: amount falling due within one year 7 (304,778)   (170,218)
Net current assets 194,724    200,058 
 
Total assets less current liabilities 198,238    204,742 
Provisions for liabilities 8 672    535 
Net assets 198,910    205,277 
 

Capital and reserves
     
Called up share capital 100    100 
Share premium account 9 26,480    26,480 
Profit and loss account 172,330    178,697 
Shareholder's funds 198,910    205,277 
 


For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 08 November 2023 and were signed by:


-------------------------------
Mr K Sexton
Director
3
General Information
Sexton Developments (SW) Ltd is a private company, limited by shares, registered in England and Wales, registration number 04169164, registration address Beech Road Business Park, Beech Road, Ivybridge, Devon, PL21 9HN.

The presentation currency is £ sterling.
1.

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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 taxation
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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2022 41,080    41,080 
Additions  
Disposals  
At 28 February 2023 41,080    41,080 
Amortisation
At 01 March 2022 41,080    41,080 
Charge for year  
On disposals  
At 28 February 2023 41,080    41,080 
Net book values
At 28 February 2023  
At 28 February 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 March 2022 51,811    56,122    25,594    1,174    134,701 
Additions        
Disposals        
At 28 February 2023 51,811    56,122    25,594    1,174    134,701 
Depreciation
At 01 March 2022 49,694    54,249    25,227    847    130,017 
Charge for year 529    468    91    82    1,170 
On disposals        
At 28 February 2023 50,223    54,717    25,318    929    131,187 
Net book values
Closing balance as at 28 February 2023 1,588    1,405    276    245    3,514 
Opening balance as at 01 March 2022 2,117    1,873    367    327    4,684 


5.

Stocks

2023
£
  2022
£
Work in Progress 455,151    342,329 
Stocks 15    300 
455,166    342,629 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 144   
Other Debtors 6,165    16,718 
6,309    16,718 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 18,027    17,511 
Taxation and Social Security 4,088    5,125 
Other Creditors 282,663    147,582 
304,778    170,218 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax (672)   (535)
(672)   (535)

9.

Share premium account

2023
£
  2022
£
Equity Share Premium b/fwd 26,480    26,480 
26,480    26,480 

10.

Ultimate controlling party

The company is ultimately controlled by K Sexton.
4