SJMG Holdings Ltd 10425911 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 false true false 10425911 2023-01-01 2023-12-31 10425911 2023-12-31 10425911 bus:OrdinaryShareClass1 2023-12-31 10425911 core:CurrentFinancialInstruments 2023-12-31 10425911 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10425911 core:OfficeEquipment 2023-12-31 10425911 core:PlantMachinery 2023-12-31 10425911 bus:SmallEntities 2023-01-01 2023-12-31 10425911 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10425911 bus:FullAccounts 2023-01-01 2023-12-31 10425911 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10425911 bus:RegisteredOffice 2023-01-01 2023-12-31 10425911 bus:Director1 2023-01-01 2023-12-31 10425911 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 10425911 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10425911 core:MotorCars 2023-01-01 2023-12-31 10425911 core:OfficeEquipment 2023-01-01 2023-12-31 10425911 core:PlantMachinery 2023-01-01 2023-12-31 10425911 core:AllSubsidiaries 2023-01-01 2023-12-31 10425911 core:Subsidiary1 2023-01-01 2023-12-31 10425911 countries:AllCountries 2023-01-01 2023-12-31 10425911 2022-12-31 10425911 core:CostValuation 2022-12-31 10425911 core:OfficeEquipment 2022-12-31 10425911 core:PlantMachinery 2022-12-31 10425911 2022-01-01 2022-12-31 10425911 2022-12-31 10425911 bus:OrdinaryShareClass1 2022-12-31 10425911 core:CurrentFinancialInstruments 2022-12-31 10425911 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 10425911 core:OfficeEquipment 2022-12-31 10425911 core:PlantMachinery 2022-12-31 10425911 core:Subsidiary1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10425911

SJMG Holdings Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

SJMG Holdings Ltd

(Registration number: 10425911)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

234

314

Investment property

5

192,165

192,165

Investments

6

100

100

 

192,499

192,579

Current assets

 

Debtors

7

8,543

4,668

Cash at bank and in hand

 

111,097

211,536

 

119,640

216,204

Creditors: Amounts falling due within one year

8

(2,978)

(3,479)

Net current assets

 

116,662

212,725

Net assets

 

309,161

405,304

Capital and reserves

 

Called up share capital

9

200

200

Retained earnings

308,961

405,104

Shareholders' funds

 

309,161

405,304

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

SJMG Holdings Ltd

(Registration number: 10425911)
Balance Sheet as at 31 December 2023

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 February 2024 and signed on its behalf by:
 

.........................................
S R Higgins
Director

 

SJMG Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1263 Evesham Road
Astwood Bank
Redditch
Worcestershire
B96 6BA
England

These financial statements were authorised for issue by the Board on 27 February 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of property and provision of services in the ordinary course of the company’s activities.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

SJMG Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Plant & machinery

25% pa on a reducing balance basis.

Office equipment

25% pa on a reducing balance basis and 33% on a straight line basis.

Motor vehicles

25% pa on a reducing balance basis.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

SJMG Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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 at the transaction price.

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 at the transaction price.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

SJMG Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2023

1,630

770

2,400

At 31 December 2023

1,630

770

2,400

Depreciation

At 1 January 2023

1,332

755

2,087

Charge for the year

75

4

79

At 31 December 2023

1,407

759

2,166

Carrying amount

At 31 December 2023

223

11

234

At 31 December 2022

299

15

314

5

Investment properties

2023
£

At 1 January

192,165

At 31 December

192,165

The investment property is valued by the director at the year end.

There has been no valuation of investment property by an independent valuer.

 

SJMG Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 January 2023

100

Provision

Carrying amount

At 31 December 2023

100

At 31 December 2022

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

H & G Carpentry Ltd

1263 Evesham Road, Astwood Bank, Redditch, Worcestershire, B96 6BA.

Orinary £1 Shares

100%

100%

 

     

Subsidiary undertakings

H & G Carpentry Ltd

The principal activity of H & G Carpentry Ltd is that of commercial carpentry services..

 

SJMG Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

10

7,543

3,668

Deferred tax assets

1,000

1,000

 

8,543

4,668

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Directors loan account

10

1,716

1,962

Corporation Tax

 

863

117

Other creditors

 

399

1,400

 

2,978

3,479

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

200

200

200

200

         
 

SJMG Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

10

Related party transactions

Summary of transactions with subsidiaries

H & G Carpentry Ltd (Subsidiary)

Dividends received from H & G Carpentry Ltd in the year totalled £125,000 (2022 - £175,000). At the balance sheet date the amount due from H & G Carpentry Ltd was £7,543 (2022 - £3,668).