Registered number
05947354
Saxon Business & Accountancy Services Limited
Filleted Accounts
31 May 2024
Saxon Business & Accountancy Services Limited
Registered number: 05947354
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,500 13,000
Tangible assets 4 50 534
6,550 13,534
Current assets
Debtors 5 11,033 7,958
Cash at bank and in hand 22,848 28,790
33,881 36,748
Creditors: amounts falling due within one year 6 (11,581) (10,965)
Net current assets 22,300 25,783
Total assets less current liabilities 28,850 39,317
Creditors: amounts falling due after more than one year 7 (20,973) (29,409)
Net assets 7,877 9,908
Capital and reserves
Called up share capital 14 14
Profit and loss account 7,863 9,894
Shareholders' funds 7,877 9,908
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D R James
Director
Approved by the board on 19 February 2025
Saxon Business & Accountancy Services Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 65,000
At 31 May 2024 65,000
Amortisation
At 1 June 2023 52,000
Provided during the year 6,500
At 31 May 2024 58,500
Net book value
At 31 May 2024 6,500
At 31 May 2023 13,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 6,268
At 31 May 2024 6,268
Depreciation
At 1 June 2023 5,734
Charge for the year 484
At 31 May 2024 6,218
Net book value
At 31 May 2024 50
At 31 May 2023 534
5 Debtors 2024 2023
£ £
Trade debtors 1,728 719
Amounts recoverable on contracts 5,338 5,353
Other debtors and prepayments 3,967 1,886
11,033 7,958
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 220 234
Corporation tax 5,266 5,262
Other taxes and social security costs 5,178 4,968
Other creditors 917 501
11,581 10,965
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 20,973 29,409
8 Related party transactions
The directors maintain seperate current accounts with the company. The year end balances are shown in creditors due within one year (other creditors). The balances at the year end are: R M Henry was owed £770 (2023: £235), D R James was owed £81 (2023: £129), P E James was owed £67 (2023: £137). The balances, which relate to undrawn expenses, are interest-free and repayable on demand.

In addition, shown in creditors falling due after one year (other creditors), is an interest-free loan of £20,973 (2023: £29,409) owed to R M Henry. This balance is interest-free and repayable as company funds allow.
9 Controlling party
There is no controlling party as no single person or group of related persons own more than 50% of the company's voting shares or excercise significant control over the company.
10 Other information
Saxon Business & Accountancy Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Tailby Drive
Willington
Derby
DE65 6YB
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