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SARROSONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH NOVEMBER 2023






SARROSONS LIMITED (REGISTERED NUMBER: 07867710)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 6

SARROSONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTORS: Mr A Sarro
Mrs A Sarro





REGISTERED OFFICE: First Floor, Woburn Court
2 Railton Road,
Woburn Road Industrial Estate, Kempston
Bedford
MK42 7PN





REGISTERED NUMBER: 07867710 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

SARROSONS LIMITED (REGISTERED NUMBER: 07867710)

BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 55,998 37,210

CURRENT ASSETS
Stocks 5 535,913 539,378
Debtors 6 1,138,218 132,013
Cash at bank 29,310 1,164,306
1,703,441 1,835,697
CREDITORS
Amounts falling due within one year 7 656,170 752,393
NET CURRENT ASSETS 1,047,271 1,083,304
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,103,269

1,120,514

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,103,169 1,120,414
SHAREHOLDERS' FUNDS 1,103,269 1,120,514

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 13th April 2024 and were signed on its behalf by:





Mr A Sarro - Director


SARROSONS LIMITED (REGISTERED NUMBER: 07867710)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023

1. STATUTORY INFORMATION

Sarrosons 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to al periods presented unless otherwise stated.

Turnover
Turnover represents the sales of developed properties and is recognised when the company obtains the rights to consideration.

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% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

The board's policy is to only capitalise assets of more than £500 in value, assets below this value are treated as revenue expenditure.

Work in progress
Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of redevelopment and other costs incurred in bringing the various sites to their present state.

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.

SARROSONS LIMITED (REGISTERED NUMBER: 07867710)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st December 2022 4,699 55,853 891 61,443
Additions 34,530 - 1,007 35,537
At 30th November 2023 39,229 55,853 1,898 96,980
DEPRECIATION
At 1st December 2022 548 23,563 122 24,233
Charge for year 8,078 8,072 599 16,749
At 30th November 2023 8,626 31,635 721 40,982
NET BOOK VALUE
At 30th November 2023 30,603 24,218 1,177 55,998
At 30th November 2022 4,151 32,290 769 37,210

5. STOCKS
2023 2022
£    £   
Work-in-progress 535,913 539,378

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by related companies 1,120,278 120,255
Other debtors 2,996 2,995
Tax 8,506 -
VAT 6,438 8,763
1,138,218 132,013

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to related companies 42,200 42,200
Corporation tax - 9,533
Directors' current accounts 574,990 660,965
Accrued expenses 38,980 39,695
656,170 752,393

SARROSONS LIMITED (REGISTERED NUMBER: 07867710)

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

8. RELATED PARTY DISCLOSURES

Included with debtors falling due within one year is an inter company loan with Sarro Properties Limited, a company with common ownership, of £1,120,278 (2022 £120,255).

This loan is currently interest free and repayable on demand.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SARROSONS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sarrosons Limited for the year ended 30th November 2023 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sarrosons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sarrosons Limited and state those matters that we have agreed to state to the Board of Directors of Sarrosons Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sarrosons Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sarrosons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sarrosons Limited. You consider that Sarrosons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sarrosons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


15th April 2024