Caseware UK (AP4) 2022.0.179 2022.0.179 12022-04-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08612521 2022-04-01 2023-03-31 08612521 2021-04-01 2022-03-31 08612521 2023-03-31 08612521 2022-03-31 08612521 c:Director1 2022-04-01 2023-03-31 08612521 d:OfficeEquipment 2022-04-01 2023-03-31 08612521 d:OfficeEquipment 2023-03-31 08612521 d:OfficeEquipment 2022-03-31 08612521 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08612521 d:CurrentFinancialInstruments 2023-03-31 08612521 d:CurrentFinancialInstruments 2022-03-31 08612521 d:Non-currentFinancialInstruments 2023-03-31 08612521 d:Non-currentFinancialInstruments 2022-03-31 08612521 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08612521 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08612521 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08612521 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08612521 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08612521 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 08612521 d:ShareCapital 2023-03-31 08612521 d:ShareCapital 2022-03-31 08612521 d:RetainedEarningsAccumulatedLosses 2023-03-31 08612521 d:RetainedEarningsAccumulatedLosses 2022-03-31 08612521 c:FRS102 2022-04-01 2023-03-31 08612521 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08612521 c:FullAccounts 2022-04-01 2023-03-31 08612521 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08612521 2 2022-04-01 2023-03-31 08612521 6 2022-04-01 2023-03-31 08612521 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 08612521










SGC Property Developments Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2023

 
SGC Property Developments Limited
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of SGC Property Developments Limited for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SGC Property Developments Limited for the year ended 31 March 2023 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of SGC Property Developments Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of SGC Property Developments Limited  and state those matters that we have agreed to state to the director of SGC Property Developments Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SGC Property Developments Limited and its director for our work or for this report. 

It is your duty to ensure that SGC Property Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SGC Property Developments Limited. You consider that SGC Property Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of SGC Property Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
29 November 2023
Page 1

 
SGC Property Developments Limited
Registered number: 08612521

Statement of Financial Position
As at 31 March 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
377
365

  
377
365

Current assets
  

Stocks
  
8,790
8,790

Debtors: amounts falling due within one year
 5 
148,866
128,812

Current asset investments
 6 
2,826
18,194

Cash at bank and in hand
  
6,958
20,080

  
167,440
175,876

Creditors: amounts falling due within one year
 7 
(168,790)
(173,453)

Net current (liabilities)/assets
  
 
 
(1,350)
 
 
2,423

Total assets less current liabilities
  
(973)
2,788

Creditors: amounts falling due after more than one year
 8 
(43,207)
(39,000)

  

Net liabilities
  
(44,180)
(36,212)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(44,181)
(36,213)

  
(44,180)
(36,212)


Page 2

 
SGC Property Developments Limited
Registered number: 08612521

Statement of Financial Position (continued)
As at 31 March 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


................................................
S G Chesters
Director
Date: 28 November 2023

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
SGC Property Developments Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

1.


General information

SGC Property Developments Limited is a company limited by share capital incorporated in England and Wales.
The registered office address is: 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company's ability to
continue to trade is dependent upon the support of its director. If this assumption proves to be
inappropriate, adjustments may have to be made to adjust the value of assets to their recoverable
amounts, to provide for any further liabilities which might arise and reclassify fixed assets as current
assets.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Computer equipment
-
3
years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
SGC Property Developments Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in an unincorporated partnership are measured at cost less accumulated impairment.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
SGC Property Developments Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.13

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 April 2022
796


Additions
186



At 31 March 2023

982



Depreciation


At 1 April 2022
431


Charge for the year on owned assets
174



At 31 March 2023

605



Net book value



At 31 March 2023
377



At 31 March 2022
365

Page 6

 
SGC Property Developments Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

5.


Debtors

2023
2022
£
£


Trade debtors
-
1,803

Other debtors
148,866
127,009

148,866
128,812



6.


Current asset investments

2023
2022
£
£

Unlisted investments
2,826
18,194

2,826
18,194



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,111
10,164

Other loans
161,021
161,021

Trade creditors
198
108

Accruals and deferred income
2,460
2,160

168,790
173,453



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
43,207
39,000

43,207
39,000


Page 7

 
SGC Property Developments Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 March 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
161,021
161,021


161,021
161,021


Amounts falling due 2-5 years

Bank loans
43,207
39,000


43,207
39,000


204,228
200,021



Page 8