Scott & Sargeant (Properties) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Scott & Sargeant (Properties) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03944923 . The registered office is 1 Blatchford Road, Horsham, West Sussex, RH13 5QR .

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Turnover

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover 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.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business

combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less

accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over

their useful life as follows:

Asset class Amortisation method and rate

Patent 20% Straight Line

2.5. Investment Properties

Investment property is property held to earn rentals and/or capital appreciation. Investment property are initially

measured at cost, including transaction costs. Subsequently investment property is carried at fair value. Gains

and losses arising from changes in the fair value of investment properties are included in profit and loss in the

period in which they arise.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Scott & Sargeant (Properties) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.7. Revenue recognition

Turnover shown in the profit and loss accounts represents rental income received on letting of investment

properties and is shown net of value added tax.

The company recognises revenue when:

i. The amount of revenue can be reliably measured;

ii. it is probable that future economic benefits will flow to the entity;

iii. and specific criteria have been met for each of the company's activities.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2024	37,132

As at 31 December 2024	37,132

Amortisation
As at 1 January 2024	27,106
Provided during the period	7,426

As at 31 December 2024	34,532

Net Book Value
As at 31 December 2024	2,600

As at 1 January 2024	10,026

5. Investment Property

	2024
	£
Fair Value
As at 1 January 2024 and 31 December 2024	5,676,256

The investment properties were valued on 31 December 2024 by the directors of the company who are not a

professionally qualified valuers. The valuation was on an open market basis.

The historic cost of the investment properties were £5,742,534 (2021 - £5,742,534). The depreciation on this

historical cost is £Nil (2021 - £Nil).

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Scott & Sargeant (Properties) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	34,862	37,424
Prepayments and accrued income	17,633	26,649
Other debtors	87,269	59,915
Director's current account	900	100

	140,664	124,088

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Corporation tax	-	10,334
Other taxes and social security	68,782	3,262
VAT	8,907	8,771
Other creditors	74,468	55,512
Interest payable to the directors	97,782	-
Accruals and deferred income	90,337	59,357
Directors' loan accounts	450,000	450,000
Amounts owed to related parties	3,771	2,354

	794,047	589,590

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Amounts owed to participating interests	3,300,000	3,300,000

9. Related Party Transactions

Mr P J Charnaud (Director and shareholder)

Mr P F Charnaud (Director and shareholder)

At the balance sheet date the amount due to Mr P F Charnaud was £242,205 (2023 - £200,000).

At the balance sheet date the amount due to Mr P J Charnaud was £304,323 (2023 - £250,000).

The above amounts lent by Mr P J Charnaud and Mr P F Charnaud to the company are at an interest rate of 2% above the base rate, with the agreement dated 08 August 2025. The interest is charged retrospectively from 01 January 2020.

During the year a dividend of £1,000 was paid to Mr P J Charnaud.

During the year a dividend of £1,000 was paid to Mr P F Charnaud.

Summary of transactions with other related parties

Scott & Sargeant Wood Working Machinery Limited

Mr P F Charnaud and Mr P J Charnaud were directors of Scott & Sargeant Wood Working Machinery Limited

up to 13 January 2023 which is a 100% subsidiary undertaking of Scott and Sargeant Holdings Limited. Scott

and Sargeant Holdings Limited is controlled by trusts of which Mr P F Charnaud and Mr P J Charnaud are

trustees. In addition, Mr P F Charnaud and Mr P J Charnaud are also shareholders and directors in Scott and

Sargeant Holdings Limited.

The loan owed to Scott & Sargeant Wood Working Machinery Limited as at the balance sheet date was

£3,300,000 (2023 - £3,300,000). Interest at a rate of 3% per annum is payable on the loan. The loan is repayable

in August 2032.

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Scott & Sargeant (Properties) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Related Party Transactions - continued

In addition to the above, the company owes £3,771 (2023 - £2,354) to Scott & Sargeant Wood Working

Machinery Limited as at the balance sheet date for certain expenses paid for the company.

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		2,600		10,026
Investment Properties	5		5,676,256		5,676,256

			5,678,856		5,686,282
CURRENT ASSETS
Debtors	6	140,664		124,088
Cash at bank and in hand		510,512		457,870

		651,176		581,958
Creditors: Amounts Falling Due Within One Year	7	(794,047 )		(589,590 )

NET CURRENT ASSETS (LIABILITIES)			(142,871 )		(7,632 )

TOTAL ASSETS LESS CURRENT LIABILITIES			5,535,985		5,678,650

Creditors: Amounts Falling Due After More Than One Year	8		(3,300,000 )		(3,300,000 )

NET ASSETS			2,235,985		2,378,650

CAPITAL AND RESERVES
Called up share capital			100		100
Other reserves			(53,685 )		(53,685 )
Profit and Loss Account			2,289,570		2,432,235

SHAREHOLDERS' FUNDS			2,235,985		2,378,650