Company Registration No. 12686946 (England and Wales)
SJE GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
SJE GROUP LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
SJE GROUP LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SJE GROUP LIMITED FOR THE YEAR ENDED 29 JUNE 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SJE Group Limited for the year ended 29 June 2023 which comprise, the balance sheet 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 http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of SJE Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SJE Group Limited and state those matters that we have agreed to state to the Board of Directors of SJE Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SJE Group Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that SJE Group 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 profit of SJE Group Limited. You consider that SJE Group Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of SJE Group 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.
Ormerod Rutter Limited
26 January 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SJE GROUP LIMITED
BALANCE SHEET
AS AT 29 JUNE 2023
29 June 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
21,946
27,463
Investments
4
1,593
1,593
23,539
29,056
Current assets
Debtors
5
201,127
213,103
Cash at bank and in hand
1,280
9,463
202,407
222,566
Creditors: amounts falling due within one year
6
(39,039)
(18,609)
Net current assets
163,368
203,957
Total assets less current liabilities
186,907
233,013
Capital and reserves
Called up share capital
7
1,593
1,593
Profit and loss reserves
185,314
231,420
Total equity
186,907
233,013
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 29 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 26 January 2024.
Mr S J Evans
Director
Company Registration No. 12686946
SJE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2023
- 3 -
1
Accounting policies
Company information
SJE Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is Beaumont Hill Farm, Broad Lane, Tanworth-in-Arden, Solihull, West Midlands, B94 5DN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% on reducing balance
Fixtures, fittings and equipment
15% on reducing balance
Computer equipment
25% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
SJE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 1).
SJE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
- 5 -
3
Tangible fixed assets
Plant and machinery
Fixtures, fittings and equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 30 June 2022
16,983
4,267
4,750
19,000
45,000
Additions
642
642
At 29 June 2023
16,983
4,267
5,392
19,000
45,642
Depreciation and impairment
At 30 June 2022
6,114
1,031
2,079
8,313
17,537
Depreciation charged in the year
2,174
485
828
2,672
6,159
At 29 June 2023
8,288
1,516
2,907
10,985
23,696
Carrying amount
At 29 June 2023
8,695
2,751
2,485
8,015
21,946
At 29 June 2022
10,869
3,236
2,671
10,687
27,463
4
Fixed asset investments
2023
2022
£
£
Investments
1,593
1,593
Movements in fixed asset investments
Shares in group undertakings and participating interests
£
Cost or valuation
At 30 June 2022 & 29 June 2023
1,593
Carrying amount
At 29 June 2023
1,593
At 29 June 2022
1,593
SJE GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2023
- 6 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
600
Amounts owed by group undertakings
197,315
211,509
Other debtors
1,800
199,715
211,509
Deferred tax asset
1,412
1,594
201,127
213,103
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,356
68
Taxation and social security
34,238
15,534
Other creditors
2,445
3,007
39,039
18,609
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
1,569 Ordinary A of £1 each
1,569
1,569
8 Ordinary B of £1 each
8
8
8 Ordinary C of £1 each
8
8
8 Ordinary D of £1 each
8
8
1,593
1,593
8
Ultimate controlling party
The ultimate controlling party is Mr S J Evans.