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Company Registration No. 00989539 (England and Wales)
S. Sexton Limited Unaudited accounts for the year ended 31 May 2024
S. Sexton Limited Unaudited accounts Contents
Page
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S. Sexton Limited Company Information for the year ended 31 May 2024
Directors
Philip Sexton Sara Louise Sexton
Secretary
Philip Sexton
Company Number
00989539 (England and Wales)
Registered Office
2 EAGLE BROW LYMM CHESHIRE WA13 0AD
Accountants
Jeffrey Alan Huddart 15 Randsclough Drive Boothstown Worsley Manchester M28 1HJ
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S. Sexton Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
767,056 
790,607 
Current assets
Inventories
41,194 
29,700 
Debtors
3,791 
3,666 
Cash at bank and in hand
343,360 
402,192 
388,345 
435,558 
Creditors: amounts falling due within one year
(157,406)
(149,692)
Net current assets
230,939 
285,866 
Total assets less current liabilities
997,995 
1,076,473 
Provisions for liabilities
Deferred tax
(18,383)
(19,695)
Net assets
979,612 
1,056,778 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
289,727 
289,727 
Profit and loss account
689,785 
766,951 
Shareholders' funds
979,612 
1,056,778 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2025 and were signed on its behalf by
Philip Sexton Director Company Registration No. 00989539
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S. Sexton Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
S. Sexton Limited is a private company, limited by shares, registered in England and Wales, registration number 00989539. The registered office is 2 EAGLE BROW, LYMM , CHESHIRE, WA13 0AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives: Land and Buildings included at their market value are not depreciated
Plant & machinery
10% straight line
Motor vehicles
30% reducing balance
Fixtures & fittings
10% straight line
Computer equipment
33% straight line
Stocks
Stocks are valued at the lower of purchase cost and net realisable value, after making due allowance for obsolete and slow moving items.
Turnover
Turnover represents the amount received during the year from the sale of confectionery and delicatessen products at the company's shops. Turnover is exclusive of value added tax
Goodwill
Goodwill being the amount paid in connection with the purchase of the business has been written off
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full, based on current tax rates and laws on timing differences which result in an obligation to pay more (or less) tax at a future date, and are expected to apply when the timing differences reverse. Timing differences arising from the revaluation of land and buildings has not been provided Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme. Contributions payable are recognised in the profit and loss account when due. The assets of the scheme are held separately from those of the company in an independently administered fund
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S. Sexton Limited Notes to the Accounts for the year ended 31 May 2024
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2023
8,250 
At 31 May 2024
8,250 
Amortisation
At 1 June 2023
8,250 
At 31 May 2024
8,250 
Net book value
At 31 May 2024
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 June 2023
680,000 
267,474 
17,572 
26,703 
20,331 
1,012,080 
Additions
- 
13,131 
- 
- 
3,978 
17,109 
Disposals
- 
(92,902)
- 
- 
(2,219)
(95,121)
At 31 May 2024
680,000 
187,703 
17,572 
26,703 
22,090 
934,068 
Depreciation
At 1 June 2023
- 
174,559 
15,252 
14,677 
16,985 
221,473 
Charge for the year
- 
17,075 
696 
2,214 
2,500 
22,485 
On disposals
- 
(74,727)
- 
- 
(2,219)
(76,946)
At 31 May 2024
- 
116,907 
15,948 
16,891 
17,266 
167,012 
Net book value
At 31 May 2024
680,000 
70,796 
1,624 
9,812 
4,824 
767,056 
At 31 May 2023
680,000 
92,915 
2,320 
12,026 
3,346 
790,607 
Land and Buildings were valued on an open market basis of £680000 on 1st December 2017 by Eckersley Property Ltd, Chartered Surveyors and Valuers Had they not been so valued they would have been included at a cost of £390273
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
3,791 
3,666 
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S. Sexton Limited Notes to the Accounts for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
16,114 
12,010 
Trade creditors
47,452 
38,607 
Taxes and social security
38,154 
38,587 
Loans from directors
31 
9,919 
Accruals
55,655 
50,569 
157,406 
149,692 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 May 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
17,264 
11,555 
Later than one year and not later than five years
63,855 
46,000 
81,119 
57,555 
10
Loans to directors
During the year advances totalling £52888 were made to the Directors. These advances were fully repaid during the year. No interest was charged
11
Transactions with related parties
Throughout the year Mr P and Mrs S Sexton controlled the company by virtue of their holding of the whole of the issued share capital of the company. Dividends totalling £140000 were paid to them
12
Average number of employees
During the year the average number of employees was 30 (2023: 28).
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