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Company Registration number: 08094522

Sawley Investments Limited

Filleted Financial Statements

for the Year Ended 30 November 2022

 

Sawley Investments Limited

Contents

Company Information

1

Statement of Directors' Responsibilities

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

Sawley Investments Limited

Company Information

Directors

Mr G A Tims

Mrs A J Cattee

Mr P Cattee

Registered office

11 Manchester Road
Walkden
Manchester
Lancashire
M28 3NS

Auditors

Abrams Ashton Ltd
Chartered Accountants & Statutory Auditor
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Sawley Investments Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors 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 of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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. They are 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.

 

Sawley Investments Limited

(Registration number: 08094522)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

520

775

Investment property

6

2,000,000

1,900,000

 

2,000,520

1,900,775

Current assets

 

Debtors

7

495,936

534,439

Cash at bank and in hand

 

500,260

384,749

 

996,196

919,188

Creditors: Amounts falling due within one year

8

(23,735)

(27,976)

Net current assets

 

972,461

891,212

Net assets

 

2,972,981

2,791,987

Capital and reserves

 

Called up share capital

1

1

Retained earnings

2,972,980

2,791,986

Shareholders' funds

 

2,972,981

2,791,987

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 November 2023 and signed on its behalf by:
 

.........................................
Mr P Cattee
Director

 

Sawley Investments Limited

Notes to the Financial Statements for the Year Ended 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11 Manchester Road
Walkden
Manchester
Lancashire
M28 3NS
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 28 November 2023 was Darren Leigh FCCA, who signed for and on behalf of Abrams Ashton Ltd.

 

Sawley Investments Limited

Notes to the Financial Statements for the Year Ended 30 November 2022

Revenue recognition

Revenue relates to the rental income obtained for the pharmacy and medical surgery. Revenue is recognised on a straight line basis over the lease term.

Deferred tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 0).

 

Sawley Investments Limited

Notes to the Financial Statements for the Year Ended 30 November 2022

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

255

255

Investment properties fair value adjustments

(100,000)

-

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 December 2021

2,550

2,550

At 30 November 2022

2,550

2,550

Depreciation

At 1 December 2021

1,775

1,775

Charge for the year

255

255

At 30 November 2022

2,030

2,030

Carrying amount

At 30 November 2022

520

520

At 30 November 2021

775

775

6

Investment properties

2022
£

At 1 December

1,900,000

Fair value adjustments

100,000

At 30 November

2,000,000


Investment property was valued at market value at 30 November 2022 by W T Gunson, Chartered Surveyors.



 

Sawley Investments Limited

Notes to the Financial Statements for the Year Ended 30 November 2022

7

Debtors

2022
£

2021
£

Trade debtors

 

11,726

42,333

Amounts owed by group undertakings

400,000

400,000

Deferred tax

 

84,210

92,106

 

495,936

534,439

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

620

4,902

Taxation and social security

5,864

5,502

Accruals and deferred income

4,000

4,000

Corporation tax

13,251

13,572

23,735

27,976

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £33,461,733 (2021 - £33,461,733). The directors do not consider it likely that this guarantee will be called upon.

The company is party to a debenture including a fixed charge over all present freehold and leasehold property: first fixed charge over book and other debtors, chattels, goodwill and uncalled capital, both present and future, and first floating charge over all assets and undertakings both present and future.

10

Parent and ultimate parent undertaking

The company's immediate parent is W R Evans Healthcare Limited, incorporated in England and Wales.

 The ultimate parent is PCT Healthcare (Holdings) Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is PCT Healthcare (Holdings) Limited. These financial statements are available upon request from Companies House, Crown Way, Maindy, Cardiff CF14 3UZ