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Unaudited Financial Statements for the Year Ended 30 June 2022 |
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Sager Construction Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 June 2022 |
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for |
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Sager Construction Limited |
Sager Construction Limited (Registered number: 03150071) |
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Contents of the Financial Statements |
for the Year Ended 30 June 2022 |
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Page |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 4 |
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Sager Construction Limited |
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Company Information |
for the Year Ended 30 June 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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271 High Street |
Berkhamsted |
Hertfordshire |
HP4 1AA |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Sager Construction Limited |
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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 Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sager Construction Limited for the year ended 30 June 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Sager Construction Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sager Construction Limited and state those matters that we have agreed to state to the Board of Directors of Sager Construction Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sager Construction Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Sager Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sager Construction Limited. You consider that Sager Construction Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Sager Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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271 High Street |
Berkhamsted |
Hertfordshire |
HP4 1AA |
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Sager Construction Limited (Registered number: 03150071) |
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Balance Sheet |
30 June 2022 |
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30.6.22 | 30.6.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Sager Construction Limited (Registered number: 03150071) |
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Notes to the Financial Statements |
for the Year Ended 30 June 2022 |
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1. | STATUTORY INFORMATION |
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Sager Construction Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of the exemption available in FRS102 Section 33.1A "Related party |
disclosures" whereby it has not disclosed transactions with any other wholly owned subsidiary |
undertaking of the Sager Group Limited group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
Tangible fixed assets under the cost model are stated at historical cost less accumulated |
depreciation and any accumulated impairment losses. Historical cost includes expenditure that is |
directly attributable to bringing the asset to the location and condition necessary for it to be capable of |
operating in the manner intended by management. |
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At each reporting date the company assesses whether there is any indication of impairment. If such |
indication exists, the recoverable amount of the asset is determined which is the higher of its fair |
value less costs to sell and its value in use. An impairment loss is recognised where the carrying |
amount exceeds the recoverable amount. |
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Depreciation is charged so as to allocate the cost of assets less their residual value over their |
estimated useful lives, on a reducing balance basis. |
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Depreciation is provided on the following basis: |
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Motor vehicles - 25% reducing balance |
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted |
prospectively if appropriate, or if there is an indication of a significant change since the last reporting |
date. |
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Gains and losses on disposals are determined by comparing the proceeds with the carrying amount |
and are recognised in profit or loss. |
Sager Construction Limited (Registered number: 03150071) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial |
instruments. |
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Financial assets and financial liabilities are recognised when the Company becomes party to the |
contractual provisions of the instrument. |
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Financial liabilities and equity instruments are classified according to the substance of the contractual |
arrangements entered into. An equity instrument is any contract that evidences a residual interest in |
the assets of the Company after deducting all of its liabilities. |
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The Company’s policies for its major classes of financial assets and financial liabilities are set out |
below. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
The directors have considered the net deficit balance sheet position at the end of the financial year however, the directors note that the company has access to significant working capital from other group companies and therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Sager Construction Limited (Registered number: 03150071) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 June 2022 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 July 2021 |
and 30 June 2022 |
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DEPRECIATION |
At 1 July 2021 |
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Charge for year |
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At 30 June 2022 |
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NET BOOK VALUE |
At 30 June 2022 |
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At 30 June 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.22 | 30.6.21 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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