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REGISTERED NUMBER: SC293726 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SAXEN LTD

SAXEN LTD (REGISTERED NUMBER: SC293726)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SAXEN LTD

COMPANY INFORMATION
for the Year Ended 31 December 2024







DIRECTORS: Mrs L Mckee
Ms S J Wallace



REGISTERED OFFICE: 2 Stoneygate Road
Newmilns
Ayrshire
KA16 9AJ



REGISTERED NUMBER: SC293726 (Scotland)



ACCOUNTANTS: K M Stewart & Company
6 Miller Road
Ayr
KA7 2AY



BANKERS: The Royal Bank of Scotland
Kilmarnock Branch
96 John Finnie Street
Kilmarnock
KA1 1NY

SAXEN LTD (REGISTERED NUMBER: SC293726)

STATEMENT OF FINANCIAL POSITION
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 102,376 86,690

CURRENT ASSETS
Stocks 159,617 44,986
Debtors 5 418,891 520,731
Cash at bank 24,333 185,453
602,841 751,170
CREDITORS
Amounts falling due within one year 6 405,913 562,709
NET CURRENT ASSETS 196,928 188,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

299,304

275,151

CREDITORS
Amounts falling due after more than one
year

7

(95,053

)

(85,250

)

PROVISIONS FOR LIABILITIES (19,451 ) (16,462 )
NET ASSETS 184,800 173,439

CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Retained earnings 174,800 163,439
SHAREHOLDERS' FUNDS 184,800 173,439

SAXEN LTD (REGISTERED NUMBER: SC293726)

STATEMENT OF FINANCIAL POSITION - continued
31 December 2024


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.

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 25 July 2025 and were signed on its behalf by:





Ms S J Wallace - Director


SAXEN LTD (REGISTERED NUMBER: SC293726)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Saxen Ltd is a private company, limited by shares , registered in Scotland. 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 office and home furniture, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 4% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on cost

Debtors
Debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors
Creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

SAXEN LTD (REGISTERED NUMBER: SC293726)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 48,647 4,111 110,155 12,735 175,648
Additions - - 103,810 1,198 105,008
Disposals - - (110,155 ) - (110,155 )
At 31 December 2024 48,647 4,111 103,810 13,933 170,501
DEPRECIATION
At 1 January 2024 24,006 4,024 48,193 12,735 88,958
Charge for year 986 22 25,953 399 27,360
Eliminated on disposal - - (48,193 ) - (48,193 )
At 31 December 2024 24,992 4,046 25,953 13,134 68,125
NET BOOK VALUE
At 31 December 2024 23,655 65 77,857 799 102,376
At 31 December 2023 24,641 87 61,962 - 86,690

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 289,558 346,074
Other debtors 99,630 98,630
Directors' current accounts 22,181 22,106
Prepayment & Accrued Income 7,522 53,921
418,891 520,731

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,000 18,000
Hire purchase contracts 17,044 10,290
Trade creditors 339,236 511,692
Tax 14 14
Social security and other taxes 5,889 2,395
VAT 21,499 16,709
Other creditors 2,231 1,609
Accrued expenses 2,000 2,000
405,913 562,709

SAXEN LTD (REGISTERED NUMBER: SC293726)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 6,000 24,000
Hire purchase contracts 89,053 61,250
95,053 85,250

The bank loan is repayable in instalments over 6 years. The loan is guaranteed by government and carries an interest rate of 2.5% p.a.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £100 10,000 10,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
**UNKNOWN DIRECTOR 1**
Balance outstanding at start of year 22,106 (2,852 )
Amounts advanced 27,258 26,198
Amounts repaid (27,183 ) (1,240 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,181 22,106