2022-03-012023-02-282023-02-28false07523906SGLS BUILDING SERVICES 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SGLS BUILDING SERVICES LTD

Registered Number
07523906
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

SGLS BUILDING SERVICES LTD
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

Gary Sanders
Steven Stratton

Registered Address

Summer Suite, 1st Floor Coleshill Town Hall, High Street
Coleshill
Birmingham
B46 3BG

Registered Number

07523906 (England and Wales)
SGLS BUILDING SERVICES LTD
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets524,50024,500
Tangible assets69,145916
33,64525,416
Current assets
Stocks7147,000147,000
Debtors8769,431244,641
Cash at bank and on hand427,723338,430
1,344,154730,071
Creditors amounts falling due within one year9(558,683)(281,051)
Net current assets (liabilities)785,471449,020
Total assets less current liabilities819,116474,436
Creditors amounts falling due after one year10(34,042)(43,702)
Net assets785,074430,734
Capital and reserves
Called up share capital100100
Profit and loss account784,974430,634
Shareholders' funds785,074430,734
The financial statements were approved and authorised for issue by the Board of Directors on 6 April 2023, and are signed on its behalf by:
Gary Sanders
Director
Steven Stratton
Director

Registered Company No. 07523906
SGLS BUILDING SERVICES LTD
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year22
5.Intangible assets

Other

Total

££
Cost or valuation
At 01 March 2224,50024,500
At 28 February 2324,50024,500
Net book value
At 28 February 2324,50024,500
At 28 February 2224,50024,500
6.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 March 2216,51292617,438
Additions7,3501,0618,411
At 28 February 2323,8621,98725,849
Depreciation and impairment
At 01 March 2215,59692616,522
Charge for year182-182
At 28 February 2315,77892616,704
Net book value
At 28 February 238,0841,0619,145
At 28 February 22916-916
7.Stocks

2023

2022

££
Other stocks147,000147,000
Total147,000147,000
8.Debtors

2023

2022

££
Trade debtors / trade receivables480,10599,507
Other debtors281,995145,134
Prepayments and accrued income7,331-
Total769,431244,641
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables365,726194,979
Taxation and social security170,95739,071
Other creditors20,00045,000
Accrued liabilities and deferred income2,0002,001
Total558,683281,051
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts34,04243,702
Total34,04243,702