Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31144354411377282023-01-01falseproperty investment22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02703971 2023-01-01 2023-12-31 02703971 2022-01-01 2022-12-31 02703971 2023-12-31 02703971 2022-12-31 02703971 2022-01-01 02703971 2 2023-01-01 2023-12-31 02703971 d:Director1 2023-01-01 2023-12-31 02703971 d:Director2 2023-01-01 2023-12-31 02703971 e:FurnitureFittings 2023-01-01 2023-12-31 02703971 e:FurnitureFittings 2023-12-31 02703971 e:FurnitureFittings 2022-12-31 02703971 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02703971 e:FreeholdInvestmentProperty 2023-12-31 02703971 e:FreeholdInvestmentProperty 2022-12-31 02703971 e:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 02703971 e:LeaseholdInvestmentProperty 2023-12-31 02703971 e:LeaseholdInvestmentProperty 2022-12-31 02703971 e:LeaseholdInvestmentProperty 2 2023-01-01 2023-12-31 02703971 e:CurrentFinancialInstruments 2023-12-31 02703971 e:CurrentFinancialInstruments 2022-12-31 02703971 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 02703971 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 02703971 e:ShareCapital 2023-12-31 02703971 e:ShareCapital 2022-12-31 02703971 e:SharePremium 2023-12-31 02703971 e:SharePremium 2022-12-31 02703971 e:InvestmentPropertiesRevaluationReserve 2023-12-31 02703971 e:InvestmentPropertiesRevaluationReserve 2022-12-31 02703971 e:ForeignCurrencyTranslationReserve 2023-12-31 02703971 e:ForeignCurrencyTranslationReserve 2022-12-31 02703971 e:OtherMiscellaneousReserve 2023-12-31 02703971 e:OtherMiscellaneousReserve 2022-12-31 02703971 e:RetainedEarningsAccumulatedLosses 2023-12-31 02703971 e:RetainedEarningsAccumulatedLosses 2022-12-31 02703971 d:FRS102 2023-01-01 2023-12-31 02703971 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02703971 d:FullAccounts 2023-01-01 2023-12-31 02703971 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02703971 e:OtherDeferredTax 2023-12-31 02703971 e:OtherDeferredTax 2022-12-31 02703971 2 2023-01-01 2023-12-31 02703971 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 02703971






SAXBY PROPERTIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










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SAXBY PROPERTIES LIMITED
REGISTERED NUMBER:02703971

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,025
1,283

Investments
 5 
257,942
252,341

Investment property
 6 
721,772
568,864

  
980,739
822,488

Current assets
  

Debtors: amounts falling due within one year
 7 
1,343
1,838

Cash at bank and in hand
 8 
435,378
461,561

  
436,721
463,399

Creditors: amounts falling due within one year
 9 
(442,563)
(434,276)

Net current (liabilities)/assets
  
 
 
(5,842)
 
 
29,123

Total assets less current liabilities
  
974,897
851,611

Provisions for liabilities
  

Deferred tax
 10 
(53,683)
(49,753)

  
 
 
(53,683)
 
 
(49,753)

Net assets
  
921,214
801,858


Capital and reserves
  

Called up share capital 
  
250,000
250,000

Share premium account
  
149,999
149,999

Foreign exchange reserve
  
2,421
5,862

Investment property reserve
  
461,626
305,277

Other reserves
  
56,845
51,244

Profit and loss account
  
323
39,476

  
921,214
801,858


Page 1

 
SAXBY PROPERTIES LIMITED
REGISTERED NUMBER:02703971
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 year 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 statement of comprehensive income 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 by: 




B H Martin
V A Martin
Director
Director


Date: 20 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SAXBY PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Saxby Properties Limited is a private company limited by shares, incorporated in England and Wales. It's registered office is Crossways House, Holmesdale Road, South Nutfield, Surrey, RH1 4JE.
The principal activity of the business continued to be that of property investment.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
SAXBY PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
SAXBY PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20%
reducing balance basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 5

 
SAXBY PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.13

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 6

 
SAXBY PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 January 2023
19,658


Disposals
(112)



At 31 December 2023

19,546



Depreciation


At 1 January 2023
18,376


Charge for the year on owned assets
257


Disposals
(112)



At 31 December 2023

18,521



Net book value



At 31 December 2023
1,025



At 31 December 2022
1,283


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 January 2023
252,341


Revaluations
5,601



At 31 December 2023
257,942




Page 7

 
SAXBY PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Investment property


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 January 2023
568,864
-
568,864


Surplus on revaluation
152,908
-
152,908



At 31 December 2023
721,772
-
721,772

The 2023 valuations were made by B Martin, on an open market value for existing use basis.

2023
2022
£
£

Revaluation reserves


At 1 January 2023
305,277
510,890

Net deficit in movement properties
156,349
(205,613)

At 31 December 2023
461,626
305,277



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
319,180
319,180

319,180
319,180


7.


Debtors

2023
2022
£
£


Other debtors
1
-

Prepayments and accrued income
1,342
1,838

1,343
1,838


Page 8

 
SAXBY PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
435,378
461,561

435,378
461,561



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
880
2,477

Other taxation and social security
-
38,306

Other creditors
438,573
390,383

Accruals and deferred income
3,110
3,110

442,563
434,276



10.


Deferred taxation




2023
2022


£

£






At beginning of year
(49,753)
(73,434)


Charged to profit or loss
(3,930)
23,681



At end of year
(53,683)
(49,753)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment properties
(53,683)
(49,753)

(53,683)
(49,753)

 
Page 9