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REGISTERED NUMBER: 05407451 (England and Wales)















S G COMMERCIAL VEHICLE REPAIRS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S G COMMERCIAL VEHICLE REPAIRS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr S Grist





SECRETARY: Mrs W Grist





REGISTERED OFFICE: 424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 05407451 (England and Wales)





ACCOUNTANTS: Spurling Cannon
King Arthur’s Court
Maidstone Road
Charing
Kent
TN27 0JS

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 42,659 14,732
42,659 14,732

CURRENT ASSETS
Stocks 6 2,800 2,800
Debtors 7 86,319 79,431
Cash at bank 184,861 156,009
273,980 238,240
CREDITORS
Amounts falling due within one year 8 (206,409 ) (209,166 )
NET CURRENT ASSETS 67,571 29,074
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,230

43,806

CREDITORS
Amounts falling due after more than one year 9 (50,135 ) (32,500 )
NET ASSETS 60,095 11,306

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 59,995 11,206
SHAREHOLDERS' FUNDS 60,095 11,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

BALANCE SHEET - continued
31 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2023 and were signed by:





Mr S Grist - Director


S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

S G Commercial Vehicle Repairs Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixture & Fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 36,600
AMORTISATION
At 1 April 2022
and 31 March 2023 36,600
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Fixture &
property machinery Fittings
£    £    £   
COST
At 1 April 2022 7,184 73,656 5,501
Additions - - -
At 31 March 2023 7,184 73,656 5,501
DEPRECIATION
At 1 April 2022 5,246 65,450 5,191
Charge for year 484 2,052 77
At 31 March 2023 5,730 67,502 5,268
NET BOOK VALUE
At 31 March 2023 1,454 6,154 233
At 31 March 2022 1,938 8,206 310

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 24,706 6,739 117,786
Additions 42,145 - 42,145
At 31 March 2023 66,851 6,739 159,931
DEPRECIATION
At 1 April 2022 21,616 5,551 103,054
Charge for year 11,308 297 14,218
At 31 March 2023 32,924 5,848 117,272
NET BOOK VALUE
At 31 March 2023 33,927 891 42,659
At 31 March 2022 3,090 1,188 14,732

6. STOCKS
2023 2022
£    £   
Stocks 2,800 2,800

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 86,319 79,431

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 3,575 -
Trade creditors 57,103 60,881
Corporation Tax 18,414 10,723
Social security and other taxes 2,411 2,994
VAT 18,633 22,096
Sundry creditors 4,045 5,561
Directors' current accounts 89,963 94,991
Accrued expenses 2,265 1,920
206,409 209,166

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 23,205 32,500
Hire purchase contracts 26,930 -
50,135 32,500

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2022 11,206
Profit for the year 94,789
Dividends (46,000 )
At 31 March 2023 59,995

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Grist.