IRIS Accounts Production v24.1.0.578 SC293726 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 100.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2937262022-12-31SC2937262023-12-31SC2937262023-01-012023-12-31SC2937262021-12-31SC2937262022-01-012022-12-31SC2937262022-12-31SC293726ns15:Scotland2023-01-012023-12-31SC293726ns14:PoundSterling2023-01-012023-12-31SC293726ns10:Director12023-01-012023-12-31SC293726ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31SC293726ns10:SmallEntities2023-01-012023-12-31SC293726ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC293726ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31SC293726ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC293726ns10:FullAccounts2023-01-012023-12-31SC293726ns10:OrdinaryShareClass12023-01-012023-12-31SC293726ns10:Director22023-01-012023-12-31SC293726ns10:RegisteredOffice2023-01-012023-12-31SC293726ns5:CurrentFinancialInstruments2023-12-31SC293726ns5:CurrentFinancialInstruments2022-12-31SC293726ns5:Non-currentFinancialInstruments2023-12-31SC293726ns5:Non-currentFinancialInstruments2022-12-31SC293726ns5:ShareCapital2023-12-31SC293726ns5:ShareCapital2022-12-31SC293726ns5:RetainedEarningsAccumulatedLosses2023-12-31SC293726ns5:RetainedEarningsAccumulatedLosses2022-12-31SC293726ns5:LeaseholdImprovements2022-12-31SC293726ns5:FurnitureFittings2022-12-31SC293726ns5:MotorVehicles2022-12-31SC293726ns5:ComputerEquipment2022-12-31SC293726ns5:LeaseholdImprovements2023-01-012023-12-31SC293726ns5:FurnitureFittings2023-01-012023-12-31SC293726ns5:MotorVehicles2023-01-012023-12-31SC293726ns5:ComputerEquipment2023-01-012023-12-31SC293726ns5:LeaseholdImprovements2023-12-31SC293726ns5:FurnitureFittings2023-12-31SC293726ns5:MotorVehicles2023-12-31SC293726ns5:ComputerEquipment2023-12-31SC293726ns5:LeaseholdImprovements2022-12-31SC293726ns5:FurnitureFittings2022-12-31SC293726ns5:MotorVehicles2022-12-31SC293726ns5:ComputerEquipment2022-12-31SC293726ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31SC293726ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31SC293726ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-31SC293726ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-31SC293726ns5:Non-currentFinancialInstruments2023-01-012023-12-31SC293726ns10:OrdinaryShareClass12023-12-31SC2937261ns10:Director12022-12-31SC2937261ns10:Director12021-12-31SC2937261ns10:Director12023-01-012023-12-31SC2937261ns10:Director12022-01-012022-12-31SC2937261ns10:Director12023-12-31SC2937261ns10:Director12022-12-31
REGISTERED NUMBER: SC293726 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

SAXEN LTD

SAXEN LTD (REGISTERED NUMBER: SC293726)






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


SAXEN LTD

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mrs L Mckee
Ms S J Wallace



REGISTERED OFFICE: 2 Stoneygate Road
Newmilns
Ayrshire
KA16 9AJ



REGISTERED NUMBER: SC293726 (Scotland)



ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY



BANKERS: The Royal Bank of Scotland
Kilmarnock Branch
96 John Finnie Street
Kilmarnock
KA1 1NY

SAXEN LTD (REGISTERED NUMBER: SC293726)

STATEMENT OF FINANCIAL POSITION
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 86,690 113,799

CURRENT ASSETS
Stocks 44,986 110,413
Debtors 5 520,731 333,479
Cash at bank 185,453 38,503
751,170 482,395
CREDITORS
Amounts falling due within one year 6 562,709 315,398
NET CURRENT ASSETS 188,461 166,997
TOTAL ASSETS LESS CURRENT
LIABILITIES

275,151

280,796

CREDITORS
Amounts falling due after more than one
year

7

(85,250

)

(112,433

)

PROVISIONS FOR LIABILITIES (16,462 ) (5,189 )
NET ASSETS 173,439 163,174

CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Retained earnings 163,439 153,174
SHAREHOLDERS' FUNDS 173,439 163,174

SAXEN LTD (REGISTERED NUMBER: SC293726)

STATEMENT OF FINANCIAL POSITION - continued
31 December 2023


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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





Ms S J Wallace - Director


SAXEN LTD (REGISTERED NUMBER: SC293726)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Saxen Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of office and home furniture, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on cost

Debtors
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

SAXEN LTD (REGISTERED NUMBER: SC293726)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 48,647 4,111 115,955 12,735 181,448
Disposals - - (5,800 ) - (5,800 )
At 31 December 2023 48,647 4,111 110,155 12,735 175,648
DEPRECIATION
At 1 January 2023 22,979 3,995 27,939 12,735 67,648
Charge for year 1,027 29 20,654 - 21,710
Eliminated on disposal - - (400 ) - (400 )
At 31 December 2023 24,006 4,024 48,193 12,735 88,958
NET BOOK VALUE
At 31 December 2023 24,641 87 61,962 - 86,690
At 31 December 2022 25,668 116 88,016 - 113,800

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 346,074 186,849
Other debtors 98,630 73,630
Directors' current accounts 22,106 -
Prepayment & Accrued Income 53,921 73,000
520,731 333,479

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,000 18,000
Hire purchase contracts 10,290 10,290
Trade creditors 511,692 257,712
Tax 14 -
Social security and other taxes 2,395 2,735
VAT 16,709 19,234
Other creditors 1,609 2,574
Directors' current accounts - 2,853
Accrued expenses 2,000 2,000
562,709 315,398

SAXEN LTD (REGISTERED NUMBER: SC293726)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 24,000 42,000
Hire purchase contracts 61,250 70,433
85,250 112,433

The bank loan is repayable in instalments over 6 years. The loan is guaranteed by government and carries an interest rate of 2.5% p.a.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £100 10,000 10,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Ms S J Wallace
Balance outstanding at start of year (2,852 ) (1,600 )
Amounts advanced 26,198 18,890
Amounts repaid (1,240 ) (20,142 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,106 (2,852 )