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Registration number: 00202631

Thos.H.Sawyer And Son Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Thos.H.Sawyer And Son Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Thos.H.Sawyer And Son Limited

Company Information

Directors

Mr J H Sawyer

Mrs T P Sawyer

Registered office

C/o Wortham Jaques Ltd
130A High Street
Crediton
Devon
EX17 3LQ

Accountants

Wortham Jaques Limited
Chartered Accountants & Business Advisers
130a High Street,
Crediton,
Devon
EX17 3LQ

 

Thos.H.Sawyer And Son Limited

(Registration number: 00202631)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

802

403

Investment property

5

975,000

925,000

 

975,802

925,403

Current assets

 

Debtors

6

8,025

2,762

Cash at bank and in hand

 

140,193

243,695

 

148,218

246,457

Creditors: Amounts falling due within one year

7

(8,594)

(32,685)

Net current assets

 

139,624

213,772

Total assets less current liabilities

 

1,115,426

1,139,175

Provisions for liabilities

(100,681)

(91,105)

Net assets

 

1,014,745

1,048,070

Capital and reserves

 

Called up share capital

5,000

5,000

Other reserves

393,768

353,268

Retained earnings

615,977

689,802

Shareholders' funds

 

1,014,745

1,048,070

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

 

Thos.H.Sawyer And Son Limited

(Registration number: 00202631)
Balance Sheet as at 31 December 2023

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 11 April 2024 and signed on its behalf by:
 

.........................................
Mr J H Sawyer
Director

.........................................
Mrs T P Sawyer
Director

 

Thos.H.Sawyer And Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
C/o Wortham Jaques Ltd
130A High Street
Crediton
Devon
EX17 3LQ
United Kingdom

These financial statements were authorised for issue by the Board on 11 April 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Thos.H.Sawyer And Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% reducing balance method

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Thos.H.Sawyer And Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

5,220

5,220

Additions

740

740

Disposals

(2,403)

(2,403)

At 31 December 2023

3,557

3,557

Depreciation

At 1 January 2023

4,817

4,817

Charge for the year

267

267

Eliminated on disposal

(2,329)

(2,329)

At 31 December 2023

2,755

2,755

Carrying amount

At 31 December 2023

802

802

At 31 December 2022

403

403

5

Investment properties

2023
£

At 1 January

925,000

Fair value adjustments

50,000

At 31 December

975,000

Valuation of all properties to Fair Value based on the Edmunds Estate Agents Market Valuations provided at the end of each year end date.

 

Thos.H.Sawyer And Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

7,282

2,094

Prepayments

743

668

 

8,025

2,762

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

6,544

29,967

Accruals and deferred income

1,841

2,510

Other creditors

209

208

8,594

32,685

8

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

9

Dividends

Final dividends paid

2023
£

2022
£

Final dividend of £75.00 (2022 - £Nil) per each Ordinary class A

15,000

-

Final dividend of £Nil per each Ordinary class B

-

-

Final dividend of £84.57 (2022 - £Nil) per each Ordinary class C

16,999

-

Final dividend of £75.00 (2022 - £Nil) per each Ordinary class D

15,000

-

Final dividend of £75.00 (2022 - £Nil) per each Ordinary class E

15,000

-

61,999

-

 

Thos.H.Sawyer And Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Interim dividends paid

2023
£

2022
£

Interim dividend of £50.00 (2022 - £Nil) per each Ordinary class A

10,000

-

Interim dividend of £Nil (2022 - £0.9763) per each Ordinary class B

-

4,099

Interim dividend of £50.00 (2022 - £45.00) per each Ordinary class C

10,050

28,090

Interim dividend of £50.00 (2022 - £Nil) per each Ordinary class D

10,000

-

Interim dividend of £50.00 (2022 - £Nil) per each Ordinary class E

10,000

-

40,050

32,189

Recommended final dividends paid and not recognised in the accounts

The directors are recommending the following final dividends:

£- (2022 - £75.00) per each Ordinary class A share totalling £- (2022 - £15,000.00)

£0.24 (2022 - £-) per each Ordinary class B share totalling £1,000.00 (2022 - £-)

£139.30 (2022 - £84.57) per each Ordinary class C share totalling £28,000.00 (2022 - £16,998.57)

£- (2022 - £75.00) per each Ordinary class D share totalling £- (2022 - £15,000.00)

£- (2022 - £75.00) per each Ordinary class E share totalling £- (2022 - £15,000.00)

These dividends have not been accrued in the balance sheet.

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

2,815

11,260

Dividends paid to directors

2023
£

2022
£

Mr J H Sawyer

Dividends paid to director

-

4,099

 

 

Mrs T P Sawyer

Dividends paid to director

27,049

28,090

 

 

Summary of transactions with entities with joint control or significant interest

Directors
 The company is controlled by the directors who own 88% of the called up share capital.
 

 

Thos.H.Sawyer And Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

11

Parent and ultimate parent undertaking

The ultimate controlling party is the company's directors.