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REGISTERED NUMBER: 12345157 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SAWMILL CONTRACTS LTD

SAWMILL CONTRACTS LTD (REGISTERED NUMBER: 12345157)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAWMILL CONTRACTS LTD

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: M Daniel
R Martin





REGISTERED OFFICE: Kemp House
160 City Road
London
EC1V 2NX





REGISTERED NUMBER: 12345157 (England and Wales)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

SAWMILL CONTRACTS LTD (REGISTERED NUMBER: 12345157)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 353,038 94,445

CURRENT ASSETS
Stocks 5 51,500 47,700
Debtors 6 90,870 67,454
Cash at bank and in hand 22,235 31,231
164,605 146,385
CREDITORS
Amounts falling due within one year 7 278,723 113,650
NET CURRENT (LIABILITIES)/ASSETS (114,118 ) 32,735
TOTAL ASSETS LESS CURRENT
LIABILITIES

238,920

127,180

CREDITORS
Amounts falling due after more than one
year

8

(188,746

)

(108,528

)

PROVISIONS FOR LIABILITIES 11 (26,001 ) (17,945 )
NET ASSETS 24,173 707

CAPITAL AND RESERVES
Called up share capital 12 2 2
Retained earnings 24,171 705
SHAREHOLDERS' FUNDS 24,173 707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SAWMILL CONTRACTS LTD (REGISTERED NUMBER: 12345157)

BALANCE SHEET - continued
31 December 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 Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





M Daniel - Director


SAWMILL CONTRACTS LTD (REGISTERED NUMBER: 12345157)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Sawmill Contracts Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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. The financial statements have been prepared under the historical cost convention.

At 31 December 2024, the company had net current liabilities of £114,118 (2023 - net current assets of £32,735). The company relies on the continued support of the Directors to finance its short term working capital requirements. The directors consider it appropriate to prepare the statements on a going concern basis as they expect that this support will continue for the foreseeable future.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes in relation to joinery and construction work.

Turnover is recognised on unbilled amounts recoverable from clients at the balance sheet date by reference to the fair value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Provision is made against unbilled amounts where the right to receive payment is contingent on factors outside the control of the firm.

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.
Heritable property - not provided
Improvements to property - not provided
Motor vehicles - 25% per annum reducing balance
Computer equipment - 25% per annum on cost

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

SAWMILL CONTRACTS LTD (REGISTERED NUMBER: 12345157)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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 debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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 the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract

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 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 7 ) .

SAWMILL CONTRACTS LTD (REGISTERED NUMBER: 12345157)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Improvements
Heritable to Motor Computer
property property vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 - - 114,549 2,555 117,104
Additions 210,976 5,217 131,985 2,397 350,575
Disposals - - (63,000 ) - (63,000 )
At 31 December 2024 210,976 5,217 183,534 4,952 404,679
DEPRECIATION
At 1 January 2024 - - 21,934 725 22,659
Charge for year - - 28,278 704 28,982
At 31 December 2024 - - 50,212 1,429 51,641
NET BOOK VALUE
At 31 December 2024 210,976 5,217 133,322 3,523 353,038
At 31 December 2023 - - 92,615 1,830 94,445

Tangible fixed assets with a carrying value of £353,038 are pledged as security.

5. STOCKS
2024 2023
£    £   
Stocks 34,500 26,500
Work-in-progress 17,000 21,200
51,500 47,700

Stock and work in progress valued at £51,500 are pledged as security.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,690 14,611
Amounts owed by group undertakings 5,000 -
Other debtors 65,180 52,843
90,870 67,454

SAWMILL CONTRACTS LTD (REGISTERED NUMBER: 12345157)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 164,431 34,111
Hire purchase contracts (see note 9) 26,920 16,461
Trade creditors 10,186 274
Taxation and social security 38,526 42,733
Other creditors 38,660 20,071
278,723 113,650

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 73,603 31,958
Hire purchase contracts (see note 9) 115,143 76,570
188,746 108,528

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 26,920 16,461
Between one and five years 115,143 76,570
142,063 93,031

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 238,034 -

The lender holds a charge over the heritable property of the company.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 26,001 17,945

SAWMILL CONTRACTS LTD (REGISTERED NUMBER: 12345157)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 17,945
Charge to Statement of Income and Retained Earnings during year 8,056
Balance at 31 December 2024 26,001

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

During the year, the shareholders of the company entered into a share for share agreement to exchange their shares for a 100% holding in the ultimate holding company, Castle View Group Limited.

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
M Daniel
Balance outstanding at start of year 17,358 8,244
Amounts advanced 65,162 49,362
Amounts repaid (84,882 ) (40,248 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,362 ) 17,358

R Martin
Balance outstanding at start of year 27,451 4,875
Amounts advanced 62,865 48,368
Amounts repaid (92,085 ) (25,792 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,769 ) 27,451

Interest of 2.25% has been charged where the loan exceeds £10,000 and there are no fixed terms of repayment.

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The ultimate parent company is Castle View Group Ltd, whose registered office is at 6A Lothian Street, Bonnyrigg, Scotland, EH19 3AD.