SAGEWOOD LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02118488

SAGEWOOD LIMITED

Filleted Unaudited Financial Statements

31 March 2025

SAGEWOOD LIMITED

Balance Sheet

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	1,178,179	1,074,139
Investments	6	1,000	1,000
		------------	------------
		1,179,179	1,075,139

Current assets

Stocks		32,211	48,660
Debtors	7	3,141,243	3,298,083
Cash at bank and in hand		6,414,380	6,646,079
		------------	------------
		9,587,834	9,992,822

Creditors: amounts falling due within one year	8	( 1,160,840)		( 1,537,294)
		------------		------------
Net current assets			8,426,994	8,455,528
			------------	------------
Total assets less current liabilities			9,606,173	9,530,667

Provisions

Taxation including deferred tax	( 39,027)	( 29,632)
	------------	------------
Net assets	9,567,146	9,501,035
	------------	------------

Capital and reserves

Called up share capital	10,500	10,500
Profit and loss account	9,556,646	9,490,535
	------------	------------
Shareholders funds	9,567,146	9,501,035
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SAGEWOOD LIMITED

Balance Sheet (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 1 December 2025 , and are signed on behalf of the board by:

M V Parekh
Director

Company registration number: 02118488

SAGEWOOD LIMITED

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Bruce Grove, Tottenham, London, N17 6RA.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant impact on the amounts recognised in the financial statements are set out below. The company exercises judgement to determine useful lives and residual values of property, plant and equipment. Tangible fixed assets are depreciated to their estimated residual values over their estimated useful lives. The company also assesses annually any indicators that leasehold property might be impaired. In such case, the property is tested for impairment. No impairment loss was recognised in the current year or previous year.

Revenue recognition

Turnover comprise sales to external customers after discounts, excluding Value Added Tax. Sales are recognised when the significant risks and rewards of ownership of the goods are transferred to the customer, the sales price agreed and the receipt of payment can be reasonably assured.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	Straight line over 4 to 5 years
Motor vehicles	-	Straight line over 5 years
Fixtures, fittings and equipment	-	15 % reducing balance

No depreciation is provided on the land and buildings as in the opinion of the director the residual value of the property is at least equal to the book value and the resultant depreciation is immaterial.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 28 (2024: 24 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Motor vehicles	Fixtures, fittings and equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	815,553	38,592	386,753	270,703	1,511,601
Additions	186,178	–	–	12,154	198,332
Disposals	–	( 9,332)	( 25,067)	–	( 34,399)
	------------	--------	---------	---------	------------
At 31 March 2025	1,001,731	29,260	361,686	282,857	1,675,534
	------------	--------	---------	---------	------------
Depreciation
At 1 April 2024	–	24,677	246,228	166,557	437,462
Charge for the year	–	4,961	70,512	17,445	92,918
Disposals	–	( 9,332)	( 23,693)	–	( 33,025)
	------------	--------	---------	---------	------------
At 31 March 2025	–	20,306	293,047	184,002	497,355
	------------	--------	---------	---------	------------
Carrying amount
At 31 March 2025	1,001,731	8,954	68,639	98,855	1,178,179
	------------	--------	---------	---------	------------
At 31 March 2024	815,553	13,915	140,525	104,146	1,074,139
	------------	--------	---------	---------	------------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 March 2025	1,000
	-------
Impairment
At 1 April 2024 and 31 March 2025	–
	-------

Carrying amount
At 31 March 2025	1,000
	-------
At 31 March 2024	1,000
	-------

The company owns 100% of the share capital of Sagewood Properties Limited, a company incorporated in England and Wales, which was dormant throughout the year.

7. Debtors

	2025	2024
	£	£
Trade debtors	3,033,442	3,178,181
Prepayments and accrued income	66,460	88,266
Other debtors	41,341	31,636
	------------	------------
	3,141,243	3,298,083
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Payments received on account	25,918	32,775
Trade creditors	257,620	764,567
Accruals and deferred income	491,298	494,604
Corporation tax	352,330	219,074
Social security and other taxes	7,329	6,933
Director loan accounts	4,184	613
Other creditors	22,161	18,728
	------------	------------
	1,160,840	1,537,294
	------------	------------

9. Deferred tax

The deferred tax included in the balance sheet is as follows:

	2025	2024
	£	£
Included in provisions	39,027	29,632
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	27,104	40,875
Other timing differences	11,923	(11,243)
	--------	--------
	39,027	29,632
	--------	--------

10. Related party transactions

Included in creditors due within one year is an amount of £4,184 (2024: £613) owed to the director. This loan is interest-free and has no fixed repayment term. The bank facilities are secured by a fixed and floating charge over the company's assets.