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Registration number: 13172698

SDH 3rd Gen Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2023

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Company Information

Directors

S J Hassan

S S Hassan

S L W Hassan

S I Hassan

Registered office

Unit 6, The North Colchester Business Centre
340 The Crescent
Highwoods
Colchester
Essex
CO4 9AD

Accountants

Thompson Jenner LLP
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

161,333

77,208

Tangible assets

5

1,662

338

 

162,995

77,546

Current assets

 

Stocks

6

1,644

344

Debtors

7

22,592

10,939

Cash at bank and in hand

 

57,394

61,820

 

81,630

73,103

Creditors: Amounts falling due within one year

8

(94,519)

(62,142)

Net current (liabilities)/assets

 

(12,889)

10,961

Total assets less current liabilities

 

150,106

88,507

Creditors: Amounts falling due after more than one year

8

(28,190)

(21,208)

Provisions for liabilities

(316)

-

Net assets

 

121,600

67,299

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

121,500

67,199

Total equity

 

121,600

67,299

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Balance Sheet as at 31 March 2023

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 4 October 2023 and signed on its behalf by:
 

.........................................
S J Hassan
Director

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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:
Unit 6, The North Colchester Business Centre
340 The Crescent
Highwoods
Colchester
Essex
CO4 9AD
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

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

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20%

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 3).

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

85,000

85,000

Additions acquired separately

95,000

95,000

At 31 March 2023

180,000

180,000

Amortisation

At 1 April 2022

7,792

7,792

Amortisation charge

10,875

10,875

At 31 March 2023

18,667

18,667

Carrying amount

At 31 March 2023

161,333

161,333

At 31 March 2022

77,208

77,208

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

398

398

Additions

1,493

1,493

At 31 March 2023

1,891

1,891

Depreciation

At 1 April 2022

60

60

Charge for the year

169

169

At 31 March 2023

229

229

Carrying amount

At 31 March 2023

1,662

1,662

At 31 March 2022

338

338

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Stocks

2023
£

2022
£

Other stocks

1,644

344

7

Debtors

2023
£

2022
£

Other debtors

22,057

10,411

Prepayments and accrued income

535

528

Total current trade and other debtors

22,592

10,939

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

52,941

19,976

Trade creditors

 

3,331

4,057

Taxation and social security

 

36,242

36,104

Other creditors

 

805

805

Accrued expenses

 

1,200

1,200

 

94,519

62,142

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

28,190

21,208

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

52,941

19,976

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

28,190

21,208

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2022 - £1,056).

 

SDH 3rd Gen Limited
(Registration number: 13172698)

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

11

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Directors 1 & 3 - Interest free loan repayable on demand

-

52,104

(42,801)

9,303

Director 2 - Interest free loan repayable on demand

3,655

26,760

(24,790)

5,625

Director 4 - Interest free loan repayable on demand

3,139

9,516

(7,163)

5,492

 

6,794

88,380

(74,754)

20,420

       

 

2022

At 2 February 2021
£

Advances to director
£

At 31 March 2022
£

Directors 1 & 3 - Interest free loan repayable on demand

-

3,655

3,655

Director 2 - Interest free loan repayable on demand

-

-

-

Director 4 - Interest free loan repayable on demand

-

3,139

3,139

 

-

6,794

6,794