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Registration number: 00175114

Sixten & Cassey Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Sixten & Cassey Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Sixten & Cassey Limited

Company Information

Directors

Mrs V A Brothers

Mr J M Read

Registered office

Crookley Park
Blendworth Lane
Horndean
Hants
PO8 0AD

Accountants

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Sixten & Cassey Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Sixten & Cassey Limited for the year ended 31 December 2023 as set out on pages 3 to 9 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that Sixten & Cassey Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Sixten & Cassey Limited. You consider that Sixten & Cassey 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 accounts of Sixten & Cassey 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 accounts.

......................................

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

22 August 2024

 

Sixten & Cassey Limited

(Registration number: 00175114)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,195

3,520

Investment property

5

1,070,030

965,500

Other financial assets

6

278,010

519,850

 

1,354,235

1,488,870

Current assets

 

Debtors

7

765,344

673,035

Cash at bank and in hand

 

112,211

135,922

 

877,555

808,957

Creditors: Amounts falling due within one year

8

(1,424,095)

(1,403,399)

Net current liabilities

 

(546,540)

(594,442)

Total assets less current liabilities

 

807,695

894,428

Provisions for liabilities

(65,463)

(65,463)

Net assets

 

742,232

828,965

Capital and reserves

 

Called up share capital

9

11,634

11,634

Share premium reserve

370,175

370,175

Retained earnings

360,423

447,156

Shareholders' funds

 

742,232

828,965

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.

 

Sixten & Cassey Limited

(Registration number: 00175114)
Balance Sheet as at 31 December 2023

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.

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 22 August 2024 and signed on its behalf by:
 

.........................................
Mrs V A Brothers
Director

 

Sixten & Cassey 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:
Crookley Park
Blendworth Lane
Horndean
Hants
PO8 0AD

These financial statements were authorised for issue by the Board on 22 August 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.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

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.

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.

 

Sixten & Cassey Limited

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

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

Office equipment

25% straight line

Plant and machinery

25% straight line

Fixtures and fittings

25% straight line

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

Sixten & Cassey Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

14,643

14,643

Additions

4,614

4,614

At 31 December 2023

19,257

19,257

Depreciation

At 1 January 2023

11,123

11,123

Charge for the year

1,939

1,939

At 31 December 2023

13,062

13,062

Carrying amount

At 31 December 2023

6,195

6,195

At 31 December 2022

3,520

3,520

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of freehold land and buildings.
 

5

Investment properties

2023
£

At 1 January

965,500

Additions

104,530

At 31 December

1,070,030

There has been no valuation of investment property by an independent valuer.

 

Sixten & Cassey Limited

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

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

519,850

519,850

Additions

9,826

9,826

Disposals

(251,666)

(251,666)

At 31 December 2023

278,010

278,010

Impairment

Carrying amount

At 31 December 2023

278,010

278,010

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

52,463

10,520

Amounts owed by related parties

242,498

173,460

Prepayments

 

525

16,009

Other debtors

 

469,858

473,046

   

765,344

673,035

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

4,883

4,940

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,397,000

1,397,000

Accruals and deferred income

 

22,212

1,459

 

1,424,095

1,403,399

 

Sixten & Cassey Limited

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

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

7,050

7,050

7,050

7,050

Preference of £1 each

4,584

4,584

4,584

4,584

11,634

11,634

11,634

11,634