Registered number
11423587
SAGWAL CONSTRUCTION LTD
Filleted Accounts
Amended
31 March 2023
SAGWAL CONSTRUCTION LTD
Registered number: 11423587
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,406 5,506
Current assets
Debtors 4 40,639 34,660
Cash at bank and in hand 18,675 38,998
59,314 73,658
Creditors: amounts falling due within one year 5 (24,508) (23,273)
Net current assets 34,806 50,385
Total assets less current liabilities 39,212 55,891
Creditors: amounts falling due after more than one year 6 (35,037) (42,413)
Net assets 4,175 13,478
Capital and reserves
Called up share capital 300 300
Profit and loss account 3,875 13,178
Shareholders' funds 4,175 13,478
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sandeep SAGWAL
Director
Approved by the board on 23 November 2023
SAGWAL CONSTRUCTION LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. 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.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 10
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 11,468
At 31 March 2023 11,468
Depreciation
At 1 April 2022 5,962
Charge for the year 1,100
At 31 March 2023 7,062
Net book value
At 31 March 2023 4,406
At 31 March 2022 5,506
4 Debtors 2023 2022
£ £
Other debtors 40,639 34,660
5 Creditors: amounts falling due within one year 2023 2022
£ £
Director's account 990 4,718
Trade creditors 100 101
Taxation and social security costs 20,917 18,440
Other creditors 2,501 14
24,508 23,273
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 35,037 42,413
7 Related party transactions
Mrs Margit sagwal is director and 100% shareholder of the company. The director loaned £990.00 in 2023 and £4,718.00 in 2022.
8 Controlling party
Mrs Margit sagwal is ultimate controlling party of the company.
9 Other information
SAGWAL CONSTRUCTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
140 Kingston Hill Avenue
Romford
Essex
RM6 5QP
SAGWAL CONSTRUCTION LTD 11423587 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 Sandeep SAGWAL No description of principal activity 11423587 2021-04-01 2022-03-31 11423587 core:WithinOneYear 2022-03-31 11423587 core:AfterOneYear 2022-03-31 11423587 core:ShareCapital 2022-03-31 11423587 core:RetainedEarningsAccumulatedLosses 2022-03-31 11423587 2022-04-01 2023-03-31 11423587 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11423587 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11423587 bus:Director40 2022-04-01 2023-03-31 11423587 1 2022-04-01 2023-03-31 11423587 2 2022-04-01 2023-03-31 11423587 core:PlantMachinery 2022-04-01 2023-03-31 11423587 countries:England 2022-04-01 2023-03-31 11423587 bus:FRS102 2022-04-01 2023-03-31 11423587 bus:FullAccounts 2022-04-01 2023-03-31 11423587 2023-03-31 11423587 core:WithinOneYear 2023-03-31 11423587 core:AfterOneYear 2023-03-31 11423587 core:ShareCapital 2023-03-31 11423587 core:RetainedEarningsAccumulatedLosses 2023-03-31 11423587 core:PlantMachinery 2023-03-31 11423587 2022-03-31 11423587 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure