2023-04-012024-03-312024-03-31false09839864SARAH GRACE MORTGAGES 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SARAH GRACE MORTGAGES LIMITED

Registered Number
09839864
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

SARAH GRACE MORTGAGES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

GRACE, Sarah Jane

Registered Address

East Barn
Chedglow
Malmesbury
SN16 9EZ

Registered Number

09839864 (England and Wales)
SARAH GRACE MORTGAGES LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets336,00048,000
Tangible assets416,33922,474
52,33970,474
Current assets
Debtors20,27241,046
Cash at bank and on hand107,832201,745
128,104242,791
Creditors amounts falling due within one year5(9,963)(41,549)
Net current assets (liabilities)118,141201,242
Total assets less current liabilities170,480271,716
Creditors amounts falling due after one year6(26,612)(36,459)
Provisions for liabilities7(3,104)(4,270)
Net assets140,764230,987
Capital and reserves
Called up share capital200200
Profit and loss account140,564230,787
Shareholders' funds140,764230,987
The financial statements were approved and authorised for issue by the Director on 1 September 2024, and are signed on its behalf by:
GRACE, Sarah Jane
Director
Registered Company No. 09839864
SARAH GRACE MORTGAGES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings4
Office Equipment4
2.Average number of employees

20242023
Average number of employees during the year32
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23120,000120,000
At 31 March 24120,000120,000
Amortisation and impairment
At 01 April 2372,00072,000
Charge for year12,00012,000
At 31 March 2484,00084,000
Net book value
At 31 March 2436,00036,000
At 31 March 2348,00048,000
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 April 2328,7518,01936,770
Additions1,930-1,930
At 31 March 2430,6818,01938,700
Depreciation and impairment
At 01 April 237,7106,58614,296
Charge for year7,4845818,065
At 31 March 2415,1947,16722,361
Net book value
At 31 March 2415,48785216,339
At 31 March 2321,0411,43322,474
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables4,2404,986
Taxation and social security2,84333,683
Accrued liabilities and deferred income2,8802,880
Total9,96341,549
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,61236,459
Total26,61236,459
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)3,1044,270
Total3,1044,270