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REGISTERED NUMBER: 08166796 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Saxty Engineering Ltd

Saxty Engineering Ltd (Registered number: 08166796)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Saxty Engineering Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: M G Anderson
D J Anderson
M S Chambers





REGISTERED OFFICE: 1 & 2 New Road
Perranporth
Cornwall
TR6 0DL





REGISTERED NUMBER: 08166796 (England and Wales)

Saxty Engineering Ltd (Registered number: 08166796)

Abridged Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 64,871 75,229
64,871 75,229

CURRENT ASSETS
Stocks 18,240 19,108
Debtors 336,557 330,985
Cash at bank 93,884 116,445
448,681 466,538
CREDITORS
Amounts falling due within one year 259,388 346,083
NET CURRENT ASSETS 189,293 120,455
TOTAL ASSETS LESS CURRENT
LIABILITIES

254,164

195,684

CREDITORS
Amounts falling due after more than one
year

(25,662

)

(23,637

)

PROVISIONS FOR LIABILITIES (16,218 ) (18,807 )
NET ASSETS 212,284 153,240

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 212,184 153,140
212,284 153,240

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

Saxty Engineering Ltd (Registered number: 08166796)

Abridged Balance Sheet - continued
31 January 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 October 2024 and were signed on its behalf by:





M G Anderson - Director


Saxty Engineering Ltd (Registered number: 08166796)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost, 20% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


Saxty Engineering Ltd (Registered number: 08166796)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 226,364
AMORTISATION
At 1 February 2023
and 31 January 2024 226,364
NET BOOK VALUE

At 31 January 2024 -
At 31 January 2023 -

Saxty Engineering Ltd (Registered number: 08166796)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 207,790
Additions 18,181
Disposals (24,975 )
At 31 January 2024 200,996
DEPRECIATION
At 1 February 2023 132,561
Charge for year 14,359
Eliminated on disposal (10,795 )
At 31 January 2024 136,125
NET BOOK VALUE
At 31 January 2024 64,871
At 31 January 2023 75,229

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 February 2023 17,190
Additions 17,689
Transfer to ownership (17,190 )
At 31 January 2024 17,689
DEPRECIATION
At 1 February 2023 10,148
Charge for year 3,538
Transfer to ownership (10,148 )
At 31 January 2024 3,538
NET BOOK VALUE
At 31 January 2024 14,151
At 31 January 2023 7,042

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase agreements 16,186 4,055
Bank loans - 2,368
16,186 6,423