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REGISTERED NUMBER: 04263642












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Saxon Financial Advice Limited

Saxon Financial Advice Limited (Registered number: 04263642)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Saxon Financial Advice Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: Mrs C Foster





REGISTERED OFFICE: West Wing
Prospect Business Park
Crookhall
Leadgate
Co. Durham
DH8 7RW





REGISTERED NUMBER: 04263642





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Saxon Financial Advice Limited (Registered number: 04263642)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 7,600 9,013
7,600 9,013

CURRENT ASSETS
Debtors 7 248,810 228,219
Investments 8 19,782 40,677
Cash at bank 3 (57 )
268,595 268,839
CREDITORS
Amounts falling due within one year 9 (54,107 ) (69,265 )
NET CURRENT ASSETS 214,488 199,574
TOTAL ASSETS LESS CURRENT
LIABILITIES

222,088

208,587

CREDITORS
Amounts falling due after more than one
year

10

(183,264

)

(147,464

)

PROVISIONS FOR LIABILITIES (1,232 ) (1,665 )
NET ASSETS 37,592 59,458

CAPITAL AND RESERVES
Called up share capital 10,001 10,001
Profit and loss account 27,591 49,457
37,592 59,458

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

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

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 February 2025 and were signed by:





Mrs C Foster - Director


Saxon Financial Advice Limited (Registered number: 04263642)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Saxon Financial Advice Limited is a private company, limited by shares , registered in Not specified/Other. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

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

Turnover
Turnover represents commissions receivable as they become payable to the company and fees chargeable by the company for services provided.

Goodwill
Aquired goodwill has been written off in equal annual installments over its estimated useful economic life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with length of lease
Plant and machinery etc - 25% on cost and 20% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the lease except where another more systematic basis is representative of the time pattern in which economic benefits from the leases assets are consumed.

Saxon Financial Advice Limited (Registered number: 04263642)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. ACCOUNTING POLICIES - continued

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 instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable 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 profit or loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 115,000
AMORTISATION
At 1 May 2023
and 30 April 2024 115,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 21,605 45,873 67,478
DEPRECIATION
At 1 May 2023 20,524 37,941 58,465
Charge for year 216 1,197 1,413
At 30 April 2024 20,740 39,138 59,878
NET BOOK VALUE
At 30 April 2024 865 6,735 7,600
At 30 April 2023 1,081 7,932 9,013

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,029 12,779
Amounts owed by group undertakings 236,547 215,230
Other debtors 234 210
248,810 228,219

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 19,782 40,677

Saxon Financial Advice Limited (Registered number: 04263642)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,122 29,638
Taxation and social security 19,185 31,127
Other creditors 4,800 8,500
54,107 69,265

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 23,333 43,333
Other creditors 159,931 104,131
183,264 147,464