Company Registration No. 07473071 (England and Wales)
Southgate Global Services Ltd
Unaudited accounts
for the year ended 31 December 2022
Southgate Global Services Ltd
Unaudited accounts
Contents
Southgate Global Services Ltd
Company Information
for the year ended 31 December 2022
Company Number
07473071 (England and Wales)
Registered Office
Bridge house
Sherington
Newport pagnell
MK169JA
United Kingdom
Southgate Global Services Ltd
Statement of financial position
as at 31 December 2022
Tangible assets
335,742
54,720
Cash at bank and in hand
30,101
118,517
Creditors: amounts falling due within one year
(291,149)
(113,827)
Net current (liabilities)/assets
(207,910)
98,775
Total assets less current liabilities
127,832
153,495
Creditors: amounts falling due after more than one year
(124,522)
-
Called up share capital
3
3
Profit and loss account
3,307
153,492
Shareholders' funds
3,310
153,495
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2023 and were signed on its behalf by
John Juma
Director
Company Registration No. 07473071
Southgate Global Services Ltd
Notes to the Accounts
for the year ended 31 December 2022
Southgate Global Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 07473071. The registered office is Bridge house, Sherington, Newport pagnell, MK169JA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
10 Years
Computer equipment
4 Years
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2022
-
23,838
128,337
152,175
Additions
258,992
-
130,663
389,655
At 31 December 2022
258,992
23,838
259,000
541,830
At 1 January 2022
-
23,838
73,617
97,455
Charge for the year
-
-
108,633
108,633
At 31 December 2022
-
23,838
182,250
206,088
At 31 December 2022
258,992
-
76,750
335,742
At 31 December 2021
-
-
54,720
54,720
Southgate Global Services Ltd
Notes to the Accounts
for the year ended 31 December 2022
Amounts falling due within one year
Trade debtors
53,138
94,085
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
34,793
-
Obligations under finance leases and hire purchase contracts
109,118
-
Trade creditors
34,703
34,703
Taxes and social security
65,573
79,124
7
Creditors: amounts falling due after more than one year
2022
2021
8
Average number of employees
During the year the average number of employees was 13 (2021: 11).