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Registered number: 14586585










SAXLINGHAM ROAD LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JANUARY 2024

 
SAXLINGHAM ROAD LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 6


 
SAXLINGHAM ROAD LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SAXLINGHAM ROAD LIMITED
FOR THE PERIOD ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Saxlingham Road Limited for the period ended 31 January 2024 which comprise  the Balance Sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Saxlingham Road Limited, as a body, in accordance with the terms of our engagement letter dated 20 January 2023Our work has been undertaken solely to prepare for your approval the financial statements of Saxlingham Road Limited and state those matters that we have agreed to state to the Board of Directors of Saxlingham Road Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Saxlingham Road Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Saxlingham Road 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 Saxlingham Road Limited. You consider that Saxlingham Road Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Saxlingham Road 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.

  



MA Partners LLP
 
Chartered Accountants
  
Norwich
Norfolk
NR1 4DJ
30 August 2024
Page 1

 
SAXLINGHAM ROAD LIMITED
REGISTERED NUMBER: 14586585

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
Note
£

  

Current assets
  

Stocks
  
777,386

Debtors: amounts falling due within one year
 4 
8,288

Cash at bank and in hand
  
33,768

  
819,442

Creditors: amounts falling due within one year
 5 
(825,271)

Net current (liabilities)/assets
  
 
 
(5,829)

Total assets less current liabilities
  
(5,829)

  

Net (liabilities)/assets
  
(5,829)


Capital and reserves
  

Called up share capital 
 6 
100

Profit and loss account
  
(5,929)

  
(5,829)


Page 2

 
SAXLINGHAM ROAD LIMITED
REGISTERED NUMBER: 14586585
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2024.




N P Garioch
Director

The notes on pages 4 to 6 form part of these financial statements.
Page 3

 
SAXLINGHAM ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

1.


General information

Saxlingham Road Limited is a private limited company incorporated in England and Wales. Its registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.
The Company was incorporated on 11 January 2023, and its principal activity is property development. Its activites are undertaken in Norwich.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, as the directors consider that the Company, with their ongoing support, has sufficient working capital to continue trading for a period of at least twelve months from the date of the approval of the financial statements.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.4

Stocks

Stocks comprise property in development and is stated at the lower of cost and net realisable value. Cost includes all direct costs, including borrowing costs. Net realisable value represents the estimated selling price less any further costs expected to be incurred to completion and disposal.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
SAXLINGHAM ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including directors, during the period was 2.


4.


Debtors

2024
£


Other debtors
8,288

8,288



5.


Creditors: Amounts falling due within one year

2024
£

Bank loans
608,429

Trade creditors
1,598

Other creditors
213,344

Accruals and deferred income
1,900

825,271


The bank loans are secured against the freehold property owned by the Company via fixed and floating charges.

Page 5

 
SAXLINGHAM ROAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024

6.


Share capital

2024
£
Allotted, called up and fully paid


50 'A' ordinary shares of £1.00 each
50
50 'B' ordinary shares of £1.00 each
50

100


At incorporation on 11 January 2023, 50 Ordinary A and 50 Ordinary B shares were allotted and issued.


7.


Related party transactions

As at 31 January 2024, the Company owed the directors £213,344, and this is shown within other creditors in note 5 to the financial statements. The loans are interest free, and repayable on demand when Company funds permit.

 
Page 6