SAWYER & CO SALES & LETTINGS LIMITED


Directors	FARRELL, Adam
	SAWYER, Christian Alan


Company Secretary	SAWYER, Christian Alan


Registered Address	52 Church Road
	Hove
	BN3 2FN


Registered Number	04235622 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Fixtures and fittings	-	5
Vehicles	25	-
Office Equipment	-	3

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

	Related parties
	For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	51		49

3.	Tangible fixed assets

	Land & buildings	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 24	170,000	25,232	142,847	138,574	476,653
Additions	-	-	48,656	45,853	94,509
At 31 March 25	170,000	25,232	191,503	184,427	571,162
Depreciation and impairment
At 01 April 24	-	16,567	136,109	129,983	282,659
Charge for year	-	2,166	9,342	22,803	34,311
At 31 March 25	-	18,733	145,451	152,786	316,970
Net book value
At 31 March 25	170,000	6,499	46,052	31,641	254,192
At 31 March 24	170,000	8,665	6,738	8,591	193,994

4.	Investment property
	The property has been valued at fair value by the directors on an open market basis. The directors are Estate Agents and are suitably qualified to assess the value of the investment property having regard to the local property market. If the property were included in the balance sheet on a historical cost basis, the carrying amount would be £268,279. Fair value at 31 March 2025 is represented by: £ Valuation in 2015 56,721 Valuation in 2016 15,000 Valuation in 2017 35,000 Cost 268,279 ------------- 375,000

Investment property

The property has been valued at fair value by the directors on an open market basis. The directors are Estate Agents and are suitably qualified to assess the value of the investment property having regard to the local property market. If the property were included in the balance sheet on a historical cost basis, the carrying amount would be £268,279.

Fair value at 31 March 2025 is represented by:
                                          £
Valuation in 2015          56,721
Valuation in 2016          15,000
Valuation in 2017          35,000
Cost                            268,279
                                  -------------
                                   375,000


		£
	Fair value at 01 April 24	375,000
	At 31 March 25	375,000

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	158,588	81,182
Other debtors	62,021	60,572
Prepayments and accrued income	100,701	121,029
Total	321,310	262,783

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	92,355	75,654
Bank borrowings and overdrafts	31,313	18,219
Taxation and social security	190,841	119,296
Other creditors	67,364	49,554
Accrued liabilities and deferred income	43,997	43,742
Total	425,870	306,465

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	201,871	93,071
Total	201,871	93,071

8.	Creditors: amounts due after 5 years
	Included in Creditors due after 1 (note 8) year are Bank loans due after 5 years which total £75,025.

9.	Secured creditors
	The bank loan is secured by way of a fixed charge over the property and a floating charge over the other assets.

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	49,851	34,400
Total	49,851	34,400

11.	Operating lease commitments
	At 31 March 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £693,750 (2024 – £691,583).

12.	Revaluation reserve


		£
	Reserve at 01 April 24	118,881
	At 31 March 25	118,881

13.	Related party transactions
	C Sawyer and A Farrell are also directors and shareholders in Sawyer & Co Financial Services Limited. During the year the company recharged management fees of £42,313 to Sawyer & Co Financial Services Limited. Included in other debtors is an intercompany loan of £59,142 which is repayable on demand. Included in Trade Debtors is £19,895 owed by Sawyer & Co Financial Services Limited.

14.	Controlling party
	Throughout the year the ultimate controlling party was Mr. C Sawyer, director and majority shareholder.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		254,192		193,994
Investment property	4		375,000		375,000
			629,192		568,994
Current assets
Debtors	5	321,310		262,783
Cash at bank and on hand		257,054		278,159
		578,364		540,942
Creditors amounts falling due within one year	6	(425,870)		(306,465)
Net current assets (liabilities)			152,494		234,477
Total assets less current liabilities			781,686		803,471
Creditors amounts falling due after one year	7		(201,871)		(93,071)
Provisions for liabilities	10		(49,851)		(34,400)
Net assets			529,964		676,000
Capital and reserves
Called up share capital			300		300
Share premium			12,440		12,440
Revaluation reserve			118,881		118,881
Other reserves			760		760
Profit and loss account			397,583		543,619
Shareholders' funds	12		529,964		676,000