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SARGENTS STRIPES LIMITED

Registered Number
06964968
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

SARGENTS STRIPES LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

Claire Sargent
David Sargent

Registered Address

Walker House
Market Place
Somerton
TA11 7LZ

Registered Number

06964968 (England and Wales)
SARGENTS STRIPES LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets438,90429,575
38,90429,575
Current assets
Stocks59,76015,750
Debtors65,30562,272
Cash at bank and on hand47,61817,176
122,68395,198
Creditors amounts falling due within one year6(75,702)(66,519)
Net current assets (liabilities)46,98128,679
Total assets less current liabilities85,88558,254
Creditors amounts falling due after one year7(23,264)(33,188)
Net assets62,62125,066
Capital and reserves
Called up share capital100100
Profit and loss account62,52124,966
Shareholders' funds62,62125,066
The financial statements were approved and authorised for issue by the Board of Directors on 15 November 2024, and are signed on its behalf by:
David Sargent
Director
Registered Company No. 06964968
SARGENTS STRIPES LIMITED
Notes to the Financial Statements
for the year ended 31 July 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 sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible assets
Goodwill arising on the acquisition of an entity represents the excess of the cost of the acquisition over the company's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at the cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful lie, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
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:
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1112
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 August 23196,080196,080
At 31 July 24196,080196,080
Amortisation and impairment
At 01 August 23196,080196,080
At 31 July 24196,080196,080
Net book value
At 31 July 24--
At 31 July 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 August 2343,31534,4173,0126,14586,889
Additions2,21415,000-37917,593
At 31 July 2445,52949,4173,0126,524104,482
Depreciation and impairment
At 01 August 2330,89117,5532,7256,14557,314
Charge for year2,9285,153571268,264
At 31 July 2433,81922,7062,7826,27165,578
Net book value
At 31 July 2411,71026,71123025338,904
At 31 July 2312,42416,864287-29,575
5.Stocks

2024

2023

££
Raw materials and consumables9,76015,750
Total9,76015,750
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables7,8508,975
Amounts owed to related parties25410
Taxation and social security63,75252,684
Accrued liabilities and deferred income4,0754,450
Total75,70266,519
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 and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts23,26433,188
Total23,26433,188