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Registration number: 01387075

SGP Trading Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

SGP Trading Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

SGP Trading Ltd

Company Information

Director

TV Crumpton

Company secretary

CS Crumpton

Registered office

The Paddock
Horse Race Lane
Lower Failand
Bristol
BS8 3TZ

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

SGP Trading Ltd

(Registration number: 01387075)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

         

Fixed assets

   

Tangible assets

4

 

16,761

29,661

Investment property

5

 

2,436,000

2,436,000

   

2,452,761

2,465,661

Current assets

   

Stocks

6

5,902

 

7,870

Debtors

7

5,383

 

11,228

Cash at bank and in hand

 

275,098

 

266,978

 

286,383

 

286,076

Creditors: Amounts falling due within one year

8

(124,273)

 

(119,236)

Net current assets

   

162,110

166,840

Total assets less current liabilities

   

2,614,871

2,632,501

Provisions for liabilities

 

(454,207)

(345,198)

Net assets

   

2,160,664

2,287,303

Capital and reserves

   

Called up share capital

100,000

 

100,000

Share premium reserve

53,405

 

53,405

Profit and loss account

2,007,259

 

2,133,898

Total equity

   

2,160,664

2,287,303

 

SGP Trading Ltd

(Registration number: 01387075)
Balance Sheet as at 30 April 2023

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 October 2023
 

.........................................

TV Crumpton
Director

 

SGP Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
The Paddock
Horse Race Lane
Lower Failand
Bristol
BS8 3TZ

These financial statements were authorised for issue by the director on 14 October 2023.

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.

 

SGP Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Motor vehicles

25% reducing balance

Plant and machinery

20 - 33% straight line

Fixtures and fittings

33% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

SGP Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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.

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.

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 the director) during the year, was 3 (2022 - 3).

 

SGP Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2022

11,807

85,112

44,750

141,669

At 30 April 2023

11,807

85,112

44,750

141,669

Depreciation

At 1 May 2022

11,807

83,201

17,000

112,008

Charge for the year

-

1,024

11,876

12,900

At 30 April 2023

11,807

84,225

28,876

124,908

Carrying amount

At 30 April 2023

-

887

15,874

16,761

At 30 April 2022

-

1,911

27,750

29,661

5

Investment properties

2023
£

At 1 May

2,436,000

At 30 April

2,436,000

6

Stocks

2023
£

2022
£

Other inventories

5,902

7,870

7

Debtors

Current

2023
£

2022
£

Trade debtors

1,101

669

Prepayments

4,282

2,826

Other debtors

-

7,733

 

5,383

11,228

 

SGP Trading Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

5,207

2,335

Taxation and social security

74,182

73,388

Accruals and deferred income

41,807

43,513

Other creditors

3,077

-

124,273

119,236

9

Related party transactions

At the year end the director was owed from the company £3,077 (2022: £7,733 owed to the company). Loans are repayable on demand and no interest is charged.