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REGISTERED NUMBER: 08230771 (England and Wales)



















SAXON ELECTRICAL SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






SAXON ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08230771)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 5


SAXON ELECTRICAL SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: Mr P A Glover





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





BUSINESS ADDRESS: Unit G5
Southglade Business Park
NOTTINGHAM
NG5 9RA





REGISTERED NUMBER: 08230771 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

SAXON ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08230771)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 96,920 95,412

CURRENT ASSETS
Stocks 231,916 223,951
Debtors 5 284,829 423,974
Cash at bank and in hand 484,851 214,724
1,001,596 862,649
CREDITORS
Amounts falling due within one year 6 285,161 544,550
NET CURRENT ASSETS 716,435 318,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,355

413,511

CREDITORS
Amounts falling due after more than one
year

7

(20,756

)

(30,503

)

PROVISIONS FOR LIABILITIES - (597 )
NET ASSETS 792,599 382,411

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 792,499 382,311
792,599 382,411

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SAXON ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08230771)

BALANCE SHEET - continued
31 MAY 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 January 2024 and were signed by:





Mr P A Glover - Director


SAXON ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08230771)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Saxon Electrical Supplies 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

SAXON ELECTRICAL SUPPLIES LIMITED (REGISTERED NUMBER: 08230771)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2022 - 1,321 5,392 94,105 100,818
Additions 28,034 - - - 28,034
At 31 May 2023 28,034 1,321 5,392 94,105 128,852
DEPRECIATION
At 1 June 2022 - 1,274 4,132 - 5,406
Charge for year 2,803 9 188 23,526 26,526
At 31 May 2023 2,803 1,283 4,320 23,526 31,932
NET BOOK VALUE
At 31 May 2023 25,231 38 1,072 70,579 96,920
At 31 May 2022 - 47 1,260 94,105 95,412

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 283,859 423,022
Other debtors 970 -
Prepayments and accrued income - 952
284,829 423,974

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,992 9,992
Trade creditors 47,449 327,009
Corporation tax 113,198 53,113
Social security and other taxes 4,957 3,539
VAT 41,667 40,606
Other creditors 61,148 76,148
Accruals and deferred income 6,750 34,143
285,161 544,550

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 20,756 30,503