ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 14691756

SAXOPHONES HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2025

SAXOPHONES HOLDINGS LIMITED

REGISTERED NUMBER: 14691756

BALANCE SHEET

AS AT 28 FEBRUARY 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		1,000,000		1,000,000
			1,000,000		1,000,000
Current assets
Debtors: amounts falling due within one year	5	100		8,600
		100		8,600
Creditors: amounts falling due within one year	6	(82,349)		(78,814)
Net current liabilities			(82,249)		(70,214)
Total assets less current liabilities			917,751		929,786
Creditors: amounts falling due after more than one year	7		(563,096)		(623,516)

Net assets			354,655		306,270

Capital and reserves
Called up share capital	100	100
Profit and loss account	354,555	306,170
	354,655	306,270

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 September 2025.

James Cheek

Director

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SAXOPHONES HOLDINGS LIMITED

REGISTERED NUMBER: 14691756

BALANCE SHEET (CONTINUED)

AS AT 28 FEBRUARY 2025

The notes on pages 3 to 6 form part of these financial statements.

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SAXOPHONES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

1.	General information

Saxophone Holdings Limited is a private limited company incorporated in England and Wales. Its registered address is 4 Chester Court, Chester Hall Lane, Basildon, SS14 3WR. Its primary place of business is 1 Courtwell Business Park, Farningham Road, Crowborough, East Sussex, TN6 2JD.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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SAXOPHONES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

2.Accounting policies (continued)

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including the directors, during the year was as follows:

	28 February	28 February
	2025	2024
	No.	No.

Directors	2	2

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 29 February 2024	1,000,000
	At 28 February 2025	1,000,000

Debtors

					2025	2024
					£	£


Amounts owed by group undertakings	-	8,500
Other debtors	100	100
	100	8,600

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SAXOPHONES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Other loans	81,389	77,914
Accruals and deferred income	960	900
	82,349	78,814

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Other loans	562,127	623,516
Amounts owed to group undertakings	969	-
	563,096	623,516

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:
	2025	2024
	£	£

	Repayable by instalments	184,718	262,220
		184,718	262,220

No interest is charged on the loan. Repayment is by instalments at £10,000 a month.

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SAXOPHONES HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Amounts falling due within one year
Other loans	81,389	77,914
	81,389	77,914

Amounts falling due 2-5 years
Other loans	377,409	361,295
	377,409	361,295
Amounts falling due after more than 5 years
Other loans	184,718	262,220
	184,718	262,220
	643,516	701,429

Related party transactions

During the year the company received dividends of £91,500 from their 100% owned subsidiary, Saxophones Limited. At the year end the company was owed nil from Saxophones Limited.
During 2024 the company received a loan of £1,000,000 interest free from two individuals, who are close family members of one of the directors of Saxophones Holdings Limited. The loan has been discounted within the accounts at a market rate of 6%. At the year end the discounted value of the loan owed was £643,515. The actual amount outstanding was £790,000.

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