Saxon Trust Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 10928590 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Saxon Trust Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Gardiner

A E Baskind

C N Kemsley

C M Standish-White

R J Verdin

REGISTERED OFFICE:

Main Office

Station House

Station Road

London

SW13 0HT

REGISTERED NUMBER:

10928590 (England and Wales)

ACCOUNTANTS:

R A Leslie & Co. LLP

Chartered Accountants

Gowran House

56 Broad Street

Chipping Sodbury

Bristol

BS37 6AG

FIXED ASSETS

Tangible assets

4

2,198

4,396

CURRENT ASSETS

Debtors

5

1,682,233

723,405

Cash at bank

77,312

129

1,759,545

723,534

CREDITORS

Amounts falling due within one year

6

1,129,311

504,550

NET CURRENT ASSETS

630,234

218,984

TOTAL ASSETS LESS CURRENT
LIABILITIES

632,432

223,380

CREDITORS

Amounts falling due after more than one
year

7

199,417

195,138

NET ASSETS

433,015

28,242

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

433,014

28,241

SHAREHOLDERS' FUNDS

433,015

28,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2023 and were signed on its behalf by:

C M Standish-White - Director

1.	STATUTORY INFORMATION

Saxon Trust Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents amounts receivable for funding services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 January 2022

and 31 December 2022

4,396

DEPRECIATION

Charge for year

2,198

At 31 December 2022

2,198

NET BOOK VALUE

At 31 December 2022

2,198

At 31 December 2021

4,396

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

Debtors and accrued income

1,403,984

574,833

Amounts owed by group

undertakings

278,249

117,641

Corporation tax repayable

-

30,931

1,682,233

723,405

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

Bank loans and overdrafts

10,000

10,674

Trade and other creditors

611,029

35

Amounts owed to group

undertakings

300,000

Accrued and deferred

expenditure

208,282

193,841

1,129,311

504,550

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.22

31.12.21

£

Other loans

33,570

19,291

Bank loan

28,333

38,333

Associated company creditor

137,514

199,417

195,138

8.	RELATED PARTY DISCLOSURES

A member of the group charged a management fee of £0 (2021: £20,750) to the company during the year, at normal commercial rates.

Consultancy fees include amounts paid to the directors during the year totalling £0 (period 1/10/20 - 31/12/21 £48,000) at normal commercial rates.

Saxon Trust Ltd - Accounts to registrar (filleted) - small 22.3

Saxon Trust Ltd - Accounts to registrar (filleted) - small 22.3