| Saxby Property Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2025 |
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| 1 |
Statutory information |
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Saxby Property Ltd is a company limited by shares and registered in England and Wales under company number 13198489. The address of the registered office is Trinity House, Foxcombe Road, Oxford, OX1 5DL. |
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| 2 |
Summary of significant accounting policies |
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Basis of preparation of financial statements |
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The financial statements have been prepared in accordance with FRS 102 The financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities and under the historical cost convention. |
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Going concern |
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After reviewing the the company's forecasts and projections, the directors have a reasonable expection that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing these financial statements. |
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Tangible fixed assets |
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Investment property is initially recognised at purchase price plus other directly attributable costs. Fair value gains and losses that arise after initial recognition are taken to the profit and loss. Deferred tax is brought into account in respect of fair value gains and losses. No depreciation is provided for in respect of investment property 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). Such property is held for its investment potential and not for consumption within the business. Investment property is stated at its fair value at the balance sheet date. |
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Provisions for liabilities |
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Provisions for liabilities are recognised when the company has an obligation at the balance sheet date as a result of a past event; it is probable that there will be an outflow of economic benefit to discharge the obligation; and the amount of the obligation can be reliably estimated. Where these criteria are not met, a provision is not recognised in the financial statements but a contingent liability is disclosed if material. Amounts recoverable from third parties are only recognised as assets when the receipt is virtually certain. Provisions are measured at the best estimate of the amount required to settle the obligation at the balance sheet date. The best estimate is the amount which the company would rationally pay to settle the obligation at the balance sheet date. Provisions for liabilities are measured at the present value of the expenditures expected to be required in order to settle the obligation where the effects of time value of money are material using a pre-tax rate which reflects current market assessments. Increases in the provision at each balance sheet date arising due to the passage of time are recognised in profit and loss as an interest expense. |
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| 2 |
Summary of significant accounting policies ( continued ) |
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Leasing |
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Assets acquired under finance leases are capitalised in the balance sheet and depreciated over the shorter of the lease term and the expected useful life of the asset. A lease is treated as a finance lease when, substantially, all the risks and rewards of ownership of the asset transfer from the lessor to the company. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. 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. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term. Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs in negotiating and arranging an operating leases are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term. |
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Financial instruments |
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A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through the profit and loss. All other investments are subsequently measured ar cost less impairment. Debtors and creditors that fall due within one year are recorded in the financial statements at transaction price and then subsequently measured at amortised cost. If the effects of the time value of money are immaterial, they are measured at cost (less impairment for trade debtors). Debtors are reviewed for impairment at each reporting date and any impairments are recorded within profit and loss and shown within administrative expenses when there is objective evidence that a debtor is impaired. Objective evidence that a debtor is impaired arises when the customer is unable to settle amounts owing to the company or the customer becomes bankrupt. Debtors do not carry interest and are stated at their nominal value. Trade creditors are not interest-bearing and are stated at their nominal value. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately. All equity instruments, regardless of significance , and other financial assets that are individually significant, are assesed individually for impairment. Other financial assets are either assessed individually or grouped on the similar basis of credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset which exceeds what the carrying amount would have been had the impairment loss not previously been recognised. |
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| 2 |
Summary of significant accounting policies ( continued ) |
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Taxation |
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Current tax represents the amount of tax payable (receivable) in the respect 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 that 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. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods and is recognised in respect of all timing differences; although with certain exceptions. Timing differences are differences between taxable profit and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred assets are only recognised to the extent that is probable that they will be recoverable against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of VAT and discounts. Turnover is also measured net of the estimated value of customer returns and volume rebates. |
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| 3 |
Average number of employees |
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The average number of employees, including directors employed under contracts of service, during the year was as follows: |
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2025 |
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2024 |
| Number |
Number |
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Employees |
- |
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- |
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| 4 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Loans and overdrafts |
1,000,000 |
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1,017,500 |
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Trade creditors |
5,638 |
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1,250 |
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Taxation and social security costs |
8,798 |
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12,154 |
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Other creditors |
982,949 |
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979,837 |
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1,997,385 |
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2,010,741 |
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| 5 |
Related party transactions |
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Included within other creditors is the following loan from a related party: |
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As at the balance sheet date of 31 December 2025, the company owed a shareholder the amount of £420,000 (2024 - £420,000). The loan is unsecured, repayable on demand and interest-free. |
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Included within loans and overdrafts is the following loan from a related party: |
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As at the balance sheet date of 31 December 2025, the company owed The Saxby Trust the amount of £1,000,000 (2024 - £1,017,500). The loan is unsecured, repayable on demand and interest-free. |
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Included within other creditors is the following loan from a director: |
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As at the balance sheet date of 31 December 2025, the company owed a director the amount of £295,258 (2024 - £295,258). The loan is unsecured, repayable on demand and interest-free. |
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Included within other creditors is the following loan from a director: |
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As at the balance sheet date of 31 December 2025, the company owed a director the amount of £267,691 (2024 - £264,579). The loan is unsecured, repayable on demand and interest-free. |