Saxel Limited

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

1. General Information

Saxel Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13656346 . The registered office is 23-24 Middleton Park Circus, Leeds, LS10 4LX.

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. 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.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 20 years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	33.33% straight line

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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.

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Saxel Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

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

3. Average Number of Employees

Average number of employees, including directors, during the year was: 10 (2024: 11)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 November 2024	826,355

As at 31 October 2025	826,355

Amortisation
As at 1 November 2024	62,874
Provided during the period	41,318

As at 31 October 2025	104,192

Net Book Value
As at 31 October 2025	722,163

As at 1 November 2024	763,481

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 November 2024	13,168	17,745	17,257	48,170
Additions	-	4,400	278	4,678

As at 31 October 2025	13,168	22,145	17,535	52,848

Depreciation
As at 1 November 2024	3,018	5,376	9,451	17,845
Provided during the period	2,538	3,734	5,798	12,070

As at 31 October 2025	5,556	9,110	15,249	29,915

Net Book Value
As at 31 October 2025	7,612	13,035	2,286	22,933

As at 1 November 2024	10,150	12,369	7,806	30,325

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Saxel Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

6. Stocks

	2025	2024
	£	£
Finished goods	65,735	96,153

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	111,141	191,550
Prepayments and accrued income	10,201	10,608
Other debtors	10,820	10,820
VAT	14,565	20,373

	146,727	233,351

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	405,071	193,223
Bank loans and overdrafts	85,458	118,752
Other taxes and social security	12,417	5,650
Net wages	30	-
Other creditors	184,599	166,720
Accruals and deferred income	2,333	2,000
Amounts owed to group undertakings	360,503	620,042

	1,050,411	1,106,387

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

	2025	2024
	£	£
Bank loans	270,371	277,663

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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Saxel Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2025

11. Related Party Transactions

SA2 Limited