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Registration number: 13363768

SBG Yorkshire Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2022

 

SBG Yorkshire Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

SBG Yorkshire Limited

Company Information

Director

Gavin Sahota

Registered office

Epsilon House West Road, Ransomes Industrial Estate
Ipswich
IP3 9FJ

Accountants

Milton Accountants Ltd
19-21 Eastern Road
Romford
RM1 3NH

 

SBG Yorkshire Limited

(Registration number: 13363768)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

483,025

37,325

Current assets

 

Stocks

5

8,697

-

Debtors

6

81,314

16,827

Cash at bank and in hand

 

16,411

37,614

 

106,422

54,441

Creditors: Amounts falling due within one year

7

(36,963)

(250)

Net current assets

 

69,459

54,191

Total assets less current liabilities

 

552,484

91,516

Creditors: Amounts falling due after more than one year

7

(757,660)

(106,000)

Net liabilities

 

(205,176)

(14,484)

Capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

(205,276)

(14,584)

Shareholders' deficit

 

(205,176)

(14,484)

For the financial year ending 30 November 2022 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 their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 23 November 2023
 

 

SBG Yorkshire Limited

(Registration number: 13363768)
Balance Sheet as at 30 November 2022

.........................................
Gavin Sahota
Director

 

SBG Yorkshire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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:
Epsilon House West Road, Ransomes Industrial Estate
Ipswich
IP3 9FJ
England

These financial statements were authorised for issue by the director on 23 November 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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

Fixture and Fittings

20% Reducing balance method

Office equipment

33.33% Straight Line Method

 

SBG Yorkshire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

SBG Yorkshire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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 34 (2021 - 1).

 

SBG Yorkshire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2021

46,656

-

46,656

Additions

565,218

1,487

566,705

At 30 November 2022

611,874

1,487

613,361

Depreciation

At 1 December 2021

9,331

-

9,331

Charge for the year

120,509

496

121,005

At 30 November 2022

129,840

496

130,336

Carrying amount

At 30 November 2022

482,034

991

483,025

At 30 November 2021

37,325

-

37,325

5

Stocks

2022
£

2021
£

Other inventories

8,697

-

6

Debtors

2022
£

2021
£

Other debtors

81,314

16,827

81,314

16,827

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

14,184

-

Taxation and social security

22,211

-

Accruals and deferred income

500

250

Other creditors

68

-

36,963

250

 

SBG Yorkshire Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

263,500

-

Other non-current financial liabilities

 

494,160

106,000

 

757,660

106,000

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

263,500

-

10

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

2022
£

2021
£

Remuneration

4,500

-