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REGISTERED NUMBER: 08889386 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Saxnet Limited

Saxnet Limited (Registered number: 08889386)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Saxnet Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: J P Batson
J P Batson





REGISTERED OFFICE: Datum House
Electra Way
Crewe
Cheshire
CW1 6ZF





REGISTERED NUMBER: 08889386 (England and Wales)

Saxnet Limited (Registered number: 08889386)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 166,000 207,000
Investments 6 1 1
166,001 207,001

CURRENT ASSETS
Debtors 7 294,408 239,042
Cash at bank 59,472 23,977
353,880 263,019
CREDITORS
Amounts falling due within one year 8 (71,699 ) (67,044 )
NET CURRENT ASSETS 282,181 195,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,182

402,976

CAPITAL AND RESERVES
Called up share capital 400,000 400,000
Retained earnings 48,182 2,976
448,182 402,976

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Saxnet Limited (Registered number: 08889386)

Statement of Financial Position - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





J P Batson - Director


Saxnet Limited (Registered number: 08889386)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Saxnet Limited ('The Company') holds trademarks and receives royalties relating there to.

The company is a private company limited by shares and is incorporated in England and Wales. The address of the registered office is Datum House, Electra Way, Crewe, Cheshire, CW1 6ZF and the registered number is 08889386.

The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
No material uncertainties that may cast doubt about the ability of the company to continue as a going concern have been identified by the director.

On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.

Royalties received
Royalties income is shown as turnover and is recognised on an accruals basis in relation to the financial period the income relates to.

Intangible assets
Intangible assets including trademarks, are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised over ten years.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Saxnet Limited (Registered number: 08889386)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Trademarks
£   
COST
At 1 January 2023
and 31 December 2023 410,000
AMORTISATION
At 1 January 2023 203,000
Amortisation for year 41,000
At 31 December 2023 244,000
NET BOOK VALUE
At 31 December 2023 166,000
At 31 December 2022 207,000

6. FIXED ASSET INVESTMENTS
Interest
in group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

The company owns a share in Saxnet Ireland Limited, a dormant company registered in the Republic of Ireland.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 54,408 199,042
Other debtors 240,000 40,000
294,408 239,042

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,319 1,002
Taxation and social security 39,992 52,448
Other creditors 30,388 13,594
71,699 67,044

Saxnet Limited (Registered number: 08889386)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. RELATED PARTY DISCLOSURES

Transactions with related parties during the year and balances outstanding at the end of the reporting period were as follows:

Entities over which the directors have control:
20232022
££
Sales177,770206,591
Trade debtors54,408199,042
Owed by entities240,00040,000
Owed to entities11