3 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04366835 2022-04-01 2023-03-31 04366835 2023-03-31 04366835 2022-03-31 04366835 2022-03-31 04366835 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 04366835 core:MotorVehicles 2022-04-01 2023-03-31 04366835 bus:Director1 2022-04-01 2023-03-31 04366835 core:PlantMachinery 2022-03-31 04366835 core:FurnitureFittingsToolsEquipment 2022-03-31 04366835 core:MotorVehicles 2022-03-31 04366835 core:PlantMachinery 2023-03-31 04366835 core:FurnitureFittingsToolsEquipment 2023-03-31 04366835 core:MotorVehicles 2023-03-31 04366835 core:WithinOneYear 2023-03-31 04366835 core:WithinOneYear 2022-03-31 04366835 core:AfterOneYear 2023-03-31 04366835 core:AfterOneYear 2022-03-31 04366835 core:ShareCapital 2023-03-31 04366835 core:ShareCapital 2022-03-31 04366835 core:RetainedEarningsAccumulatedLosses 2023-03-31 04366835 core:RetainedEarningsAccumulatedLosses 2022-03-31 04366835 core:FurnitureFittingsToolsEquipment 2022-03-31 04366835 bus:SmallEntities 2022-04-01 2023-03-31 04366835 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04366835 bus:FullAccounts 2022-04-01 2023-03-31 04366835 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04366835 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31
Company registration number: 04366835
SPG Builders Limited
Unaudited filleted financial statements
31 March 2023
SPG Builders Limited
Contents
Statement of financial position
Notes to the financial statements
SPG Builders Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 3 18,164 913
_______ _______
18,164 913
Current assets
Stocks 14,845 10,750
Debtors 4 22,534 46,946
Cash at bank and in hand 80,879 154,551
_______ _______
118,258 212,247
Creditors: amounts falling due
within one year 5 ( 83,264) ( 94,058)
_______ _______
Net current assets 34,994 118,189
_______ _______
Total assets less current liabilities 53,158 119,102
Creditors: amounts falling due
after more than one year 6 ( 22,500) ( 32,500)
Provisions for liabilities ( 3,512) ( 173)
_______ _______
Net assets 27,146 86,429
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 27,144 86,427
_______ _______
Shareholders funds 27,146 86,429
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 September 2023 , and are signed on behalf of the board by:
Mr Sean Gollop
Director
Company registration number: 04366835
SPG Builders Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
SPG Builders Limited (Company number 04366835 ) is a private company limited by shares, registered in England & Wales. The address of the registered office is Halfway Cottage, Boughton Lane, Boughton Monchelsea, Maidstone, Kent, ME17 4ND.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, such as trade and other debtors and creditors, and loans from banks and other third parties.
2. Employee numbers
The average number of persons employed by the company, including directors, during the year amounted to 3 (2022: 4).
3. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 3,469 5,514 43,567 52,550
Additions - 1,069 21,999 23,068
_______ _______ _______ _______
At 31 March 2023 3,469 6,583 65,566 75,618
_______ _______ _______ _______
Depreciation
At 1 April 2022 3,469 4,601 43,567 51,637
Charge for the year - 776 5,041 5,817
_______ _______ _______ _______
At 31 March 2023 3,469 5,377 48,608 57,454
_______ _______ _______ _______
Carrying amount
At 31 March 2023 - 1,206 16,958 18,164
_______ _______ _______ _______
At 31 March 2022 - 913 - 913
_______ _______ _______ _______
4. Debtors
2023 2022
£ £
Trade debtors 10,743 41,383
Other debtors 11,791 5,563
_______ _______
22,534 46,946
_______ _______
5. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 41,156 40,625
Social security and other taxes 22,879 26,471
Other creditors 9,229 16,962
_______ _______
83,264 94,058
_______ _______
6. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 22,500 32,500
_______ _______