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REGISTERED NUMBER: 03799352 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JULY 2024

FOR

SAPWOOD HOMES LIMITED

SAPWOOD HOMES LIMITED (REGISTERED NUMBER: 03799352)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAPWOOD HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JULY 2024







DIRECTORS: D Jenkinson
A E Jenkinson





SECRETARY: A E Jenkinson





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 03799352 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

SAPWOOD HOMES LIMITED (REGISTERED NUMBER: 03799352)

BALANCE SHEET
30 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 20,800 23,400
Tangible assets 5 26,523 30,932
47,323 54,332

CURRENT ASSETS
Stocks 281 294
Debtors 6 197 1,974
Cash at bank 42,606 30,090
43,084 32,358
CREDITORS
Amounts falling due within one year 7 58,238 46,659
NET CURRENT LIABILITIES (15,154 ) (14,301 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,169

40,031

CREDITORS
Amounts falling due after more than one
year

8

11,853

20,779
NET ASSETS 20,316 19,252

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 19,316 18,252
SHAREHOLDERS' FUNDS 20,316 19,252

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 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.

SAPWOOD HOMES LIMITED (REGISTERED NUMBER: 03799352)

BALANCE SHEET - continued
30 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:





D Jenkinson - Director


SAPWOOD HOMES LIMITED (REGISTERED NUMBER: 03799352)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024

1. STATUTORY INFORMATION

Sapwood Homes Limited 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.

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

SAPWOOD HOMES LIMITED (REGISTERED NUMBER: 03799352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 31 July 2023
and 30 July 2024 26,000
AMORTISATION
At 31 July 2023 2,600
Charge for year 2,600
At 30 July 2024 5,200
NET BOOK VALUE
At 30 July 2024 20,800
At 30 July 2023 23,400

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 31 July 2023 3,383 8,493 53,216 12,308 77,400
Additions 2,710 - - - 2,710
At 30 July 2024 6,093 8,493 53,216 12,308 80,110
DEPRECIATION
At 31 July 2023 3,380 5,605 25,492 11,991 46,468
Charge for year 680 577 5,545 317 7,119
At 30 July 2024 4,060 6,182 31,037 12,308 53,587
NET BOOK VALUE
At 30 July 2024 2,033 2,311 22,179 - 26,523
At 30 July 2023 3 2,888 27,724 317 30,932

SAPWOOD HOMES LIMITED (REGISTERED NUMBER: 03799352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 31 July 2023
and 30 July 2024 29,120
DEPRECIATION
At 31 July 2023 5,824
Charge for year 4,659
At 30 July 2024 10,483
NET BOOK VALUE
At 30 July 2024 18,637
At 30 July 2023 23,296

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 197 460
VAT - 1,184
Prepayments - 330
197 1,974

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Hire purchase contracts 4,000 4,000
Trade creditors 15,251 19,659
Tax 5,657 -
Social security and other taxes 950 524
VAT 2,925 -
Other creditors 508 1,341
Directors' current accounts 17,214 9,402
Accrued expenses 6,733 6,733
58,238 46,659

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 7,853 12,779
Hire purchase contracts 4,000 8,000
11,853 20,779

SAPWOOD HOMES LIMITED (REGISTERED NUMBER: 03799352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 12,853 17,779
Hire purchase contracts 8,000 12,000
20,853 29,779

The bank loan is secured by way of a government backed guarantee.

The hire purchase contracts are secured against the motor vehicles to which they relate.