5 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 100,000 100,000 29,190 551 29,741 24,293 2,783 27,076 2,665 4,897 62,645 62,645 62,645 xbrli:pure xbrli:shares iso4217:GBP 05478319 2022-07-01 2023-06-30 05478319 2023-06-30 05478319 2022-06-30 05478319 2021-07-01 2022-06-30 05478319 2022-06-30 05478319 core:FurnitureFittings 2022-07-01 2023-06-30 05478319 bus:RegisteredOffice 2022-07-01 2023-06-30 05478319 bus:LeadAgentIfApplicable 2022-07-01 2023-06-30 05478319 bus:Director1 2022-07-01 2023-06-30 05478319 core:NetGoodwill 2023-06-30 05478319 core:FurnitureFittings 2022-06-30 05478319 core:FurnitureFittings 2023-06-30 05478319 core:WithinOneYear 2023-06-30 05478319 core:WithinOneYear 2022-06-30 05478319 core:AfterOneYear 2023-06-30 05478319 core:AfterOneYear 2022-06-30 05478319 core:ShareCapital 2023-06-30 05478319 core:ShareCapital 2022-06-30 05478319 core:RetainedEarningsAccumulatedLosses 2023-06-30 05478319 core:RetainedEarningsAccumulatedLosses 2022-06-30 05478319 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 05478319 core:Non-currentFinancialInstruments 2023-06-30 05478319 core:Non-currentFinancialInstruments 2022-06-30 05478319 core:FurnitureFittings 2022-06-30 05478319 bus:SmallEntities 2022-07-01 2023-06-30 05478319 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 05478319 bus:FullAccounts 2022-07-01 2023-06-30 05478319 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05478319 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05478319 core:NetGoodwill 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 05478319
SAGE ROXBOROUGH LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2023
SAGE ROXBOROUGH LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
4
SAGE ROXBOROUGH LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
Director
Mr I J Tsakalis
Registered office
168 Church Road
Hove
East Sussex
BN3 2DL
Accountants
UHY Hacker Young
Chartered Accountants
168 Church Road
Hove
BN3 2DL
SAGE ROXBOROUGH LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
2,665
4,897
Investments
7
62,645
62,645
---------
---------
65,310
67,542
Current assets
Debtors
8
141,736
130,660
Cash at bank and in hand
22,200
37,459
----------
----------
163,936
168,119
Creditors: amounts falling due within one year
9
71,947
73,979
----------
----------
Net current assets
91,989
94,140
----------
----------
Total assets less current liabilities
157,299
161,682
Creditors: amounts falling due after more than one year
10
39,911
49,923
Provisions
Taxation including deferred tax
60
( 557)
----------
----------
Net assets
117,328
112,316
----------
----------
SAGE ROXBOROUGH LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2023
2023
2022
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
117,228
112,216
----------
----------
Shareholders funds
117,328
112,316
----------
----------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 January 2024 , and are signed on behalf of the board by:
Mr I J Tsakalis
Director
Company registration number: 05478319
SAGE ROXBOROUGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, BN3 2DL, East Sussex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
Revenue recognition
The turnover shown in the profit and loss account represents amounts received from commissions earned during the year.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 4 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixture and fittings
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfyingthe revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 6 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2022 and 30 June 2023
100,000
----------
Amortisation
At 1 July 2022 and 30 June 2023
100,000
----------
Carrying amount
At 30 June 2023
----------
At 30 June 2022
----------
6. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 July 2022
29,190
29,190
Additions
551
551
---------
---------
At 30 June 2023
29,741
29,741
---------
---------
Depreciation
At 1 July 2022
24,293
24,293
Charge for the year
2,783
2,783
---------
---------
At 30 June 2023
27,076
27,076
---------
---------
Carrying amount
At 30 June 2023
2,665
2,665
---------
---------
At 30 June 2022
4,897
4,897
---------
---------
7. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
62,645
---------
Impairment
At 1 July 2022 and 30 June 2023
---------
Carrying amount
At 30 June 2023
62,645
---------
At 30 June 2022
62,645
---------
8. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
10,212
10,412
Other debtors
131,524
120,248
----------
----------
141,736
130,660
----------
----------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,015
9,768
Trade creditors
887
1,010
Corporation tax
51,329
59,634
Social security and other taxes
983
1,325
Other creditors
8,733
2,242
---------
---------
71,947
73,979
---------
---------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,911
29,923
Subordinated loan
20,000
20,000
---------
---------
39,911
49,923
---------
---------
11. Loan guarantee
The Bounce Back Loan Scheme provides the lender with a government-backed guarantee against the outstanding facility balance.
12. Director's advances, credits and guarantees
As at 30 June 2023 the company owed the director £53 (2022: £Nil).