Sawley Investments Limited - Period Ending 2020-11-30

Sawley Investments Limited

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Balance Sheet	3
Notes to the Financial Statements	4 to 8

Sawley Investments Limited

Company Information

Directors

Mr G A Tims Mrs A J Cattee Mr P Cattee

Registered office

11 Manchester Road Walkden Manchester M28 3NS

Auditors

Abrams Ashton Ltd Chartered Accountants & Statutory Auditor 7 Waterside Court St. Helens Merseyside WA9 1UA

Sawley Investments Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Sawley Investments Limited

(Registration number: 08094522)
Balance Sheet as at 30 November 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	1,030	1,285
Investment property	5	1,900,000	1,900,000
		1,901,030	1,901,285
Current assets
Debtors	6	488,677	515,452
Cash at bank and in hand		321,079	190,803
		809,756	706,255
Creditors: Amounts falling due within one year	7	(27,731)	(26,518)
Net current assets		782,025	679,737
Net assets		2,683,055	2,581,022
Capital and reserves
Called up share capital		1	1
Profit and loss account		2,683,054	2,581,021
Shareholders' funds		2,683,055	2,581,022

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 27 November 2021 and signed on its behalf by:
 

.........................................

Mr P Cattee
Director

Sawley Investments Limited

Notes to the Financial Statements for the Year Ended 30 November 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11 Manchester Road
Walkden
Manchester
M28 3NS
United Kingdom

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.

Group accounts not prepared

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of PCT Healthcare Holdings Limited which can be obtained from Companies House.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 27 November 2021 was Darren Leigh FCCA, who signed for and on behalf of Abrams Ashton Ltd.

Revenue recognition

Revenue relates to the rental income obtained for the pharmacy and medical surgery. Revenue is recognised on a straight line basis over the lease term.

Sawley Investments Limited

Notes to the Financial Statements for the Year Ended 30 November 2020

Deferred tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	10% straight line

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2019 - 0).

Sawley Investments Limited

Notes to the Financial Statements for the Year Ended 30 November 2020

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 December 2019	2,550	2,550
At 30 November 2020	2,550	2,550
Depreciation
At 1 December 2019	1,265	1,265
Charge for the year	255	255
At 30 November 2020	1,520	1,520
Carrying amount
At 30 November 2020	1,030	1,030
At 30 November 2019	1,285	1,285

5	Investment properties

	2020 £
At 1 December	1,900,000

Investment property was valued at market value at 30 November 2020 by W T Gunson, Chartered Surveyors

Sawley Investments Limited

Notes to the Financial Statements for the Year Ended 30 November 2020

6

Debtors

		2020 £	2019 £
Trade debtors		11,858	30,852
Amounts owed by group undertakings		400,000	400,000
Deferred tax		76,819	84,600
		488,677	515,452
Less non-current portion		(76,819)	(84,600)
		411,858	430,852

7

Creditors

Creditors: amounts falling due within one year

		2020 £	2019 £
Due within one year
Trade creditors		4,093	7,702
Amounts owed to group undertakings		-	920
Taxation and social security		4,249	4,553
Accruals and deferred income		3,237	3,237
Corporation tax		16,152	10,106
		27,731	26,518

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of guarantees not included in the balance sheet is £39,461,733 (2019 - £45,461,733). The directors do not consider it likely that this guarantee will be called upon.

The company is party to a debenture including a fixed charge over all present freehold and leasehold property: first fixed charge over book and other debtors, chattels, goodwill and uncalled capital, both present and future, and first floating charge over all assets and undertakings both present and future.

Sawley Investments Limited

Notes to the Financial Statements for the Year Ended 30 November 2020

9	Parent and ultimate parent undertaking

The company's immediate parent is W R Evans Healthcare Limited, incorporated in England and Wales.

 The ultimate parent is PCT Healthcare (Holdings) Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is PCT Healthcare (Holdings) Limited. These financial statements are available upon request from Companies House, Crown Way, Maindy, Cardiff CF14 3UZ