REGISTERED NUMBER: 08166796 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2025

for

Saxty Engineering Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M G Anderson

D J Anderson

M S Chambers

REGISTERED OFFICE:

1 & 2 New Road

Perranporth

Cornwall

TR6 0DL

REGISTERED NUMBER:

08166796 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

119,272

64,871

119,272

64,871

CURRENT ASSETS

Stocks

21,012

18,240

Debtors

334,006

336,557

Cash at bank

64,889

93,884

419,907

448,681

CREDITORS

Amounts falling due within one year

249,520

259,388

NET CURRENT ASSETS

170,387

189,293

TOTAL ASSETS LESS CURRENT LIABILITIES

289,659

254,164

CREDITORS

Amounts falling due after more than one year

(49,228

)

(25,662

)

PROVISIONS FOR LIABILITIES

(16,640

)

(16,218

)

NET ASSETS

223,791

212,284

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

223,691

212,184

223,791

212,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 October 2025 and were signed on its behalf by:

M G Anderson - Director

1.	STATUTORY INFORMATION

Saxty Engineering Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

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 cost, 20% on cost and 20% on reducing balance

Stocks

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2024

and 31 January 2025

226,364

AMORTISATION

At 1 February 2024

and 31 January 2025

226,364

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2024

200,996

Additions

85,839

Disposals

(35,849

)

At 31 January 2025

250,986

DEPRECIATION

At 1 February 2024

136,125

Charge for year

23,917

Eliminated on disposal

(28,328

)

At 31 January 2025

131,714

NET BOOK VALUE

At 31 January 2025

119,272

At 31 January 2024

64,871

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 February 2024

17,689

Additions

76,564

At 31 January 2025

94,253

DEPRECIATION

At 1 February 2024

3,538

Charge for year

13,973

At 31 January 2025

17,511

NET BOOK VALUE

At 31 January 2025

76,742

At 31 January 2024

14,151

6.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase agreements

63,037

16,186