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REGISTERED NUMBER: 03637079 (England and Wales)












SAVAGE AND HOLDSWORTH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






SAVAGE AND HOLDSWORTH LIMITED (REGISTERED NUMBER: 03637079)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SAVAGE AND HOLDSWORTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: Mrs P E Holdsworth



REGISTERED OFFICE: Ground Floor Office
430 The Grange
Romsey Road
Michelmersh
Hampshire
SO51 0AE



REGISTERED NUMBER: 03637079 (England and Wales)



BANKERS: Barclays Bank plc
1 Churchill Place
Leicester
LE87 2BB

SAVAGE AND HOLDSWORTH LIMITED (REGISTERED NUMBER: 03637079)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 7,098 9,621

CURRENT ASSETS
Debtors 5 11,486 17,391
Cash at bank 447,713 308,279
459,199 325,670
CREDITORS
Amounts falling due within one year 6 (290,074 ) (172,951 )
NET CURRENT ASSETS 169,125 152,719
TOTAL ASSETS LESS CURRENT
LIABILITIES

176,223

162,340

PROVISIONS FOR LIABILITIES (1,348 ) (2,403 )
NET ASSETS 174,875 159,937

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 19,900 19,900
Retained earnings 154,875 139,937
SHAREHOLDERS' FUNDS 174,875 159,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

SAVAGE AND HOLDSWORTH LIMITED (REGISTERED NUMBER: 03637079)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2024


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





Mrs P E Holdsworth - Director


SAVAGE AND HOLDSWORTH LIMITED (REGISTERED NUMBER: 03637079)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

Savage and Holdsworth Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover represents brokerage and fees which are taken to credit when premium invoices are issued and accepted. Alterations in brokerage arising from additional and return premiums, and adjustments, are taken into account when these occur.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Office equipment - Straight line over 5 years
Fixtures and fittings - 15% Straight line
Computer equipment - Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SAVAGE AND HOLDSWORTH LIMITED (REGISTERED NUMBER: 03637079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 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 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.

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.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

SAVAGE AND HOLDSWORTH LIMITED (REGISTERED NUMBER: 03637079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
equipment fittings equipment Totals
£ £ £ £
COST
At 1 December 2023 8,361 7,748 22,614 38,723
Additions - 352 - 352
Disposals - - (2,066 ) (2,066 )
At 30 November 2024 8,361 8,100 20,548 37,009
DEPRECIATION
At 1 December 2023 5,961 3,844 19,297 29,102
Charge for year 785 731 1,359 2,875
Eliminated on disposal - - (2,066 ) (2,066 )
At 30 November 2024 6,746 4,575 18,590 29,911
NET BOOK VALUE
At 30 November 2024 1,615 3,525 1,958 7,098
At 30 November 2023 2,400 3,904 3,317 9,621

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 11,486 17,391

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxation and social security 3,988 4,638
Other creditors 286,086 168,313
290,074 172,951

7. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had future commitments under operating leases which totalled £42,584 (2023: £60,512).