Savage & Stockwell Financial Services - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 08186015 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2023

for

Savage & Stockwell Financial Services

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

E G Stockwell

D A Savage

Mrs G L Stockwell

Mrs T J Savage

REGISTERED OFFICE:

19 Sussex Farm Way

Yetminster

DT9 6SZ

REGISTERED NUMBER:

08186015 (England and Wales)

ACCOUNTANTS:

A Plus Accountancy & Business Solutions Limited

The Counting House

Tonedale Business Park

Wellington

Somerset

TA21 0AW

FIXED ASSETS

Tangible assets

4

81,487

66,193

CURRENT ASSETS

Debtors

5

19,364

34,075

Cash at bank

63,432

58,650

82,796

92,725

CREDITORS

Amounts falling due within one year

6

99,482

107,954

NET CURRENT LIABILITIES

(16,686

)

(15,229

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,801

50,964

CREDITORS

Amounts falling due after more than one year

7

(46,964

)

(38,144

)

PROVISIONS FOR LIABILITIES

(17,373

)

(12,577

)

NET ASSETS

464

243

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

364

143

SHAREHOLDERS' FUNDS

464

243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 December 2023 and were signed on its behalf by:

D A Savage - Director

E G Stockwell - Director

Mrs T J Savage - Director

Mrs G L Stockwell - Director

1.	STATUTORY INFORMATION

Savage & Stockwell Financial Services Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures & fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Motor

Computer

& fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 September 2022

1,720

163,798

30,857

196,375

Additions

-

71,470

-

71,470

Disposals

-

(76,708

)

-

(76,708

)

At 31 August 2023

1,720

158,560

30,857

191,137

DEPRECIATION

At 1 September 2022

1,477

102,786

25,919

130,182

Charge for year

186

27,053

4,666

31,905

Eliminated on disposal

-

(52,437

)

-

(52,437

)

At 31 August 2023

1,663

77,402

30,585

109,650

NET BOOK VALUE

At 31 August 2023

57

81,158

272

81,487

At 31 August 2022

243

61,012

4,938

66,193

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

71,470

At 31 August 2023

71,470

DEPRECIATION

Charge for year

17,868

At 31 August 2023

17,868

NET BOOK VALUE

At 31 August 2023

53,602

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Other debtors

19,364

34,075

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Hire purchase contracts

46,432

47,881

Trade creditors

350

296

Taxation and social security

49,312

56,907

Other creditors

3,388

2,870

99,482

107,954

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.23

31.8.22

£

£

Hire purchase contracts

46,964

38,144

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23

31.8.22

£

£

D A Savage

Balance outstanding at start of year

10,507

(153

)

Amounts advanced

59,202

53,770

Amounts repaid

(61,080

)

(43,110

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,629

10,507

E G Stockwell

Balance outstanding at start of year

10,507

(153

)

Amounts advanced

59,202

53,770

Amounts repaid

(61,080

)

(43,110

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,629

10,507

Mrs G L Stockwell

Balance outstanding at start of year

(3

)

-

Amounts advanced

12,054

13,778

Amounts repaid

(12,060

)

(13,781

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(9

)

(3

)

Mrs T J Savage

Balance outstanding at start of year

10,687

(153

)

Amounts advanced

48,071

52,050

Amounts repaid

(61,080

)

(41,210

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,322

)

10,687

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2023 set out on pages two to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

A Plus Accountancy & Business Solutions Limited

The Counting House

Tonedale Business Park

Wellington

Somerset

TA21 0AW

Date: .............................................