1 October 2023 v2025.18.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP020466672023-10-012024-09-30020466672024-09-30020466672023-09-3002046667core:WithinOneYear2024-09-3002046667core:WithinOneYear2023-09-3002046667core:AfterOneYear2024-09-3002046667core:AfterOneYear2023-09-3002046667core:ShareCapital2024-09-3002046667core:ShareCapital2023-09-3002046667core:RetainedEarningsAccumulatedLosses2024-09-3002046667core:RetainedEarningsAccumulatedLosses2023-09-3002046667bus:Director12023-10-012024-09-3002046667bus:RegisteredOffice2023-10-012024-09-3002046667core:PlantMachinery2023-10-012024-09-3002046667core:FurnitureFittingsToolsEquipment2023-10-012024-09-3002046667core:MotorVehicles2023-10-012024-09-3002046667core:LandBuildings2023-10-012024-09-30020466672022-10-012023-09-3002046667core:LandBuildings2023-10-0102046667core:PlantMachinery2023-10-01020466672023-10-0102046667core:LandBuildings2024-09-3002046667core:PlantMachinery2024-09-3002046667core:LandBuildings2023-09-3002046667core:PlantMachinery2023-09-300204666712023-10-012024-09-3002046667countries:EnglandWales2023-10-012024-09-3002046667bus:AuditExemptWithAccountantsReport2023-10-012024-09-3002046667bus:PrivateLimitedCompanyLtd2023-10-012024-09-3002046667bus:SmallEntities2023-10-012024-09-3002046667bus:FullAccounts2023-10-012024-09-30
Company registration number:
02046667
SAXTON MANUFACTURING LIMITED
Unaudited Filleted Financial Statements for the year ended
30 September 2024
Christie Holyland Limited
Chartered Certified Accountants
7 High View Close, Hamilton Office Park, Leicester, Leicestershire, LE4 9LJ, United Kingdom
SAXTON MANUFACTURING LIMITED
Report to the board of directors on the preparation of the unaudited statutory financial statements of SAXTON MANUFACTURING LIMITED
Year ended
30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements
of
SAXTON MANUFACTURING LIMITED
for the year ended
30 September 2024
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
SAXTON MANUFACTURING LIMITED
, as a body, in accordance with the terms of our engagement letter dated 13 June 2023. Our work has been undertaken solely to prepare for your approval the
financial statements
of
SAXTON MANUFACTURING LIMITED
and state those matters that we have agreed to state to the Board of Directors of
SAXTON MANUFACTURING LIMITED
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
SAXTON MANUFACTURING LIMITED
and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that
SAXTON MANUFACTURING LIMITED
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
SAXTON MANUFACTURING LIMITED
. You consider that
SAXTON MANUFACTURING LIMITED
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of SAXTON MANUFACTURING LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Christie Holyland Limited
Chartered Certified Accountants
Date:
4 April 2025
SAXTON MANUFACTURING LIMITED
Statement of Financial Position
30 September 2024
20242023
Note££
Fixed assets    
Tangible assets 5
127,653
 
83,605
 
Current assets    
Stocks
68,950
 
101,950
 
Debtors 6
320,638
 
286,271
 
Cash at bank and in hand
499,929
 
297,126
 
889,517
 
685,347
 
Creditors: amounts falling due within one year 7
(357,088
)
(198,737
)
Net current assets
532,429
 
486,610
 
Total assets less current liabilities 660,082   570,215  
Creditors: amounts falling due after more than one year 8
(6,667
)
(18,188
)
Provisions for liabilities
(32,784
)
(28,216
)
Net assets
620,631
 
523,811
 
Capital and reserves    
Called up share capital
102
 
102
 
Profit and loss account
620,529
 
523,709
 
Shareholders funds
620,631
 
523,811
 
For the year ending
30 September 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
4 April 2025
, and are signed on behalf of the board by:
Mr. Michael Saxton
Director
Company registration number:
02046667
SAXTON MANUFACTURING LIMITED
Notes to the Financial Statements
Year ended
30 September 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
7 High View Close
,
Hamilton Office Park
,
Leicester
,
Leicestershire
,
LE4 9LJ
, United Kingdom and the principal place of business is The Airfield, Unit 1, Bruntingthorpe, Lutterworth LE17 5QZ.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis. The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover represents the total value, excluding value added tax, of goods sold during the year and derives from the company's ordinary activities. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15% Reducing Balance
Fixtures, fittings and equipment
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Land and buildings
10% Straight Line

Stocks

Stocks are measured at the lower of cost exclusive of Value Added Tax and estimated selling price.

Hire Purchase Contracts and Finance Leases

Assets held under hire purchase contracts and finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum future payments, which is determined at the inception of the contract term. Any initial direct costs of the contract are added to the amount recognised as an asset.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
9
(2023:
9.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 October 2023
4,215
 
256,794
 
261,009
 
Additions -  
58,869
 
58,869
 
At
30 September 2024
4,215
 
315,663
 
319,878
 
Depreciation      
At
1 October 2023
491
 
176,913
 
177,404
 
Charge
421
 
14,400
 
14,821
 
At
30 September 2024
912
 
191,313
 
192,225
 
Carrying amount      
At
30 September 2024
3,303
 
124,350
 
127,653
 
At 30 September 2023
3,724
 
79,881
 
83,605
 

6 Debtors

20242023
££
Trade debtors
298,502
 
274,517
 
Other debtors
22,136
 
11,754
 
320,638
 
286,271
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
10,000
 
10,000
 
Trade creditors
224,275
 
125,856
 
Taxation and social security
53,108
 
38,570
 
Other creditors
69,705
 
24,311
 
357,088
 
198,737
 
Included in other creditors (both within one year £1,521 (2023 : £3,396) ; and after one year £nil (2023 : £1,521) is a hire purchase liability, which is secured against the specific asset to which it relates.

8 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
6,667
 
16,667
 
Other creditors -  
1,521
 
6,667
 
18,188
 
Included in bank loans and overdrafts (payable both within one year and after more than one year) is a loan in favour of Barclays Bank Plc. taken out under the Government's Bounce Back Loan Scheme as part of the package of support for the Covid-19 pandemic. The loan is unsecured; is subject to interest at 2.5% over base; and is repayable by monthly instalments. The loan is due to be repaid in full on or before 30th September 2026.

9 Share capital

The company has 102 £1 Ordinary shares issued and fully paid with full voting rights and full rights on the distribution of dividends and repayment of capital.

10 Directors' advances, credit and guarantees

During the year, the Directors entered into the following advances and credits with the company:
Balance brought forward at 1st October 2023 - £60
Advances / (credits) - £16,040
Amounts repaid - £16,100
Balance outstanding at 30th September 2024 - £ nil
The maximum balance outstanding was £16,060
The loan to the Directors is unsecured, interest free and has no fixed date for repayment.

11 Controlling party

The company is under the direct control of the directors.