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COMPANY REGISTRATION NUMBER: 04081561
Saxton Mee (New Homes) Limited
Filleted Unaudited Abridged Financial Statements
30 April 2024
Saxton Mee (New Homes) Limited
Abridged Financial Statements
Year Ended 30 April 2024
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 6
Saxton Mee (New Homes) Limited
Abridged Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
6
11,076
15,111
Fixed Asset Investments
7
17,838
--------
--------
11,076
32,949
Current Assets
Debtors
93,266
15,238
Cash at bank and in hand
44,187
196,542
---------
---------
137,453
211,780
Creditors: amounts falling due within one year
73,738
67,472
---------
---------
Net Current Assets
63,715
144,308
--------
---------
Total Assets Less Current Liabilities
74,791
177,257
Creditors: amounts falling due after more than one year
11,667
21,667
Provisions
2,769
6,641
--------
---------
Net Assets
60,355
148,949
--------
---------
Capital and Reserves
Called up share capital
8
40
40
Other reserves
60
60
Profit and loss account
60,255
148,849
--------
---------
Shareholders Funds
60,355
148,949
--------
---------
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
Saxton Mee (New Homes) Limited
Abridged Statement of Financial Position (continued)
30 April 2024
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 1 August 2024 , and are signed on behalf of the board by:
Mr G Ashmore
Director
Company registration number: 04081561
Saxton Mee (New Homes) Limited
Notes to the Abridged Financial Statements
Year Ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 82 Middlewood Road, Hillsborough, Sheffield, S6 4HA, England.
2. Statement of compliance
These abridged 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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents fees and commissions earned, net of VAT.
Taxation
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
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
-
5 years straight line
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.
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:
Fixtures, fittings & equipment
-
33% reducing balance
Fixed asset 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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 10 ).
5. Intangible assets
£
Cost
At 1 May 2023 and 30 April 2024
16,670
--------
Amortisation
At 1 May 2023 and 30 April 2024
16,670
--------
Carrying amount
At 30 April 2024
--------
At 30 April 2023
--------
6. Tangible assets
£
Cost
At 1 May 2023
103,511
Additions
1,063
---------
At 30 April 2024
104,574
---------
Depreciation
At 1 May 2023
88,400
Charge for the year
5,098
---------
At 30 April 2024
93,498
---------
Carrying amount
At 30 April 2024
11,076
---------
At 30 April 2023
15,111
---------
7. Fixed asset investments
£
Cost
At 1 May 2023
17,838
Disposals
( 17,838)
--------
At 30 April 2024
--------
Impairment
At 1 May 2023 and 30 April 2024
--------
Carrying amount
At 30 April 2023
17,838
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
40
40
40
40
----
----
----
----
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
21,936
20,556
Later than 1 year and not later than 5 years
11,070
14,556
--------
--------
33,006
35,112
--------
--------