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REGISTERED NUMBER: 05179305 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

SADDLE ADVANCEMENT COMPANY LIMITED

SADDLE ADVANCEMENT COMPANY LIMITED (REGISTERED NUMBER: 05179305)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SADDLE ADVANCEMENT COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: D J Dyer





REGISTERED OFFICE: Frogpool Manor Farm
Perry Street
Chislehurst
Kent
BR7 6HA





REGISTERED NUMBER: 05179305 (England and Wales)





ACCOUNTANTS: Sargeant Partnership LLP
Chartered Accountants
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

SADDLE ADVANCEMENT COMPANY LIMITED (REGISTERED NUMBER: 05179305)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,623 25,619

CURRENT ASSETS
Stocks 705,896 695,577
Debtors 5 73,622 39,812
Cash at bank and in hand 26,240 37,584
805,758 772,973
CREDITORS
Amounts falling due within one year 6 395,835 312,215
NET CURRENT ASSETS 409,923 460,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,546

486,377

CREDITORS
Amounts falling due after more than one
year

7

(20,947

)

(31,969

)

PROVISIONS FOR LIABILITIES (6,405 ) (6,405 )
NET ASSETS 402,194 448,003

CAPITAL AND RESERVES
Called up share capital 8 106 106
Retained earnings 9 402,088 447,897
SHAREHOLDERS' FUNDS 402,194 448,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

SADDLE ADVANCEMENT COMPANY LIMITED (REGISTERED NUMBER: 05179305)

BALANCE SHEET - continued
30 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 February 2024 and were signed by:





D J Dyer - Director


SADDLE ADVANCEMENT COMPANY LIMITED (REGISTERED NUMBER: 05179305)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Saddle Advancement Company 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% per annum on reducing balance
Motor vehicles - 25% per annum on reducing balance
Computer equipment - 15% per annum 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.

SADDLE ADVANCEMENT COMPANY LIMITED (REGISTERED NUMBER: 05179305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2022
and 30 September 2023 1 2,802 64,463 3,649 70,915
DEPRECIATION
At 1 October 2022 - 809 43,368 1,119 45,296
Charge for year - 342 5,274 380 5,996
At 30 September 2023 - 1,151 48,642 1,499 51,292
NET BOOK VALUE
At 30 September 2023 1 1,651 15,821 2,150 19,623
At 30 September 2022 1 1,993 21,095 2,530 25,619

SADDLE ADVANCEMENT COMPANY LIMITED (REGISTERED NUMBER: 05179305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2022 24,000
Transfer to ownership (24,000 )
At 30 September 2023 -
DEPRECIATION
At 1 October 2022 15,985
Charge for year 2,004
Transfer to ownership (17,989 )
At 30 September 2023 -
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 8,015

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 43,357 31,849
Other debtors 30,265 7,963
73,622 39,812

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,540 13,540
Hire purchase contracts - 1,503
Trade creditors 190,614 106,457
Taxation and social security 27,453 66,990
Other creditors 164,228 123,725
395,835 312,215

SADDLE ADVANCEMENT COMPANY LIMITED (REGISTERED NUMBER: 05179305)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 20,947 31,969

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
106 Ordinary £1 106 106

9. RESERVES
Retained
earnings
£   

At 1 October 2022 447,897
Deficit for the year (45,809 )
At 30 September 2023 402,088

10. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed D Dyer £110,510 (2022: £81,536).

At the balance sheet date P Dyer owed the company £243.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is deemed to be D Dyer by virtue of his shareholding.