Silverfin false false 31/12/2023 01/01/2023 31/12/2023 A Brennan 01/11/2018 A Knott 01/10/2013 M Reynell 01/10/2013 J Sharman 01/06/2008 11 March 2024 The principal activity of the Company during the financial year is that of chartered surveyors 04109056 2023-12-31 04109056 bus:Director1 2023-12-31 04109056 bus:Director2 2023-12-31 04109056 bus:Director3 2023-12-31 04109056 bus:Director4 2023-12-31 04109056 2022-12-31 04109056 core:CurrentFinancialInstruments 2023-12-31 04109056 core:CurrentFinancialInstruments 2022-12-31 04109056 core:ShareCapital 2023-12-31 04109056 core:ShareCapital 2022-12-31 04109056 core:CapitalRedemptionReserve 2023-12-31 04109056 core:CapitalRedemptionReserve 2022-12-31 04109056 core:OtherCapitalReserve 2023-12-31 04109056 core:OtherCapitalReserve 2022-12-31 04109056 core:RetainedEarningsAccumulatedLosses 2023-12-31 04109056 core:RetainedEarningsAccumulatedLosses 2022-12-31 04109056 core:FurnitureFittings 2022-12-31 04109056 core:OfficeEquipment 2022-12-31 04109056 core:FurnitureFittings 2023-12-31 04109056 core:OfficeEquipment 2023-12-31 04109056 2023-01-01 2023-12-31 04109056 bus:FilletedAccounts 2023-01-01 2023-12-31 04109056 bus:SmallEntities 2023-01-01 2023-12-31 04109056 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04109056 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04109056 bus:Director1 2023-01-01 2023-12-31 04109056 bus:Director2 2023-01-01 2023-12-31 04109056 bus:Director3 2023-01-01 2023-12-31 04109056 bus:Director4 2023-01-01 2023-12-31 04109056 core:Goodwill core:TopRangeValue 2023-01-01 2023-12-31 04109056 core:FurnitureFittings 2023-01-01 2023-12-31 04109056 core:OfficeEquipment core:TopRangeValue 2023-01-01 2023-12-31 04109056 2022-01-01 2022-12-31 04109056 core:OfficeEquipment 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 04109056 (England and Wales)

SIBBETT GREGORY WRIGHT & COLES LTD.

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

SIBBETT GREGORY WRIGHT & COLES LTD.

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

SIBBETT GREGORY WRIGHT & COLES LTD.

BALANCE SHEET

As at 31 December 2023
SIBBETT GREGORY WRIGHT & COLES LTD.

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 10,397 12,000
10,397 12,000
Current assets
Stocks 4 40,301 42,430
Debtors 5 68,707 111,539
Cash at bank and in hand 223,323 184,956
332,331 338,925
Creditors: amounts falling due within one year 6 ( 64,501) ( 74,591)
Net current assets 267,830 264,334
Total assets less current liabilities 278,227 276,334
Net assets 278,227 276,334
Capital and reserves
Called-up share capital 1 1
Capital redemption reserve 2 2
Other reserves 81 81
Profit and loss account 278,143 276,250
Total shareholders' funds 278,227 276,334

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 financial statements of Sibbett Gregory Wright & Coles Ltd. (registered number: 04109056) were approved and authorised for issue by the Board of Directors on 11 March 2024. They were signed on its behalf by:

M Reynell
Director
SIBBETT GREGORY WRIGHT & COLES LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
SIBBETT GREGORY WRIGHT & COLES LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sibbett Gregory Wright & Coles Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Winchester Place, North Street, Poole, Dorset, BH15 1NX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 11 12

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 January 2023 23,989 28,445 52,434
Additions 0 1,889 1,889
At 31 December 2023 23,989 30,334 54,323
Accumulated depreciation
At 01 January 2023 13,473 26,961 40,434
Charge for the financial year 2,629 863 3,492
At 31 December 2023 16,102 27,824 43,926
Net book value
At 31 December 2023 7,887 2,510 10,397
At 31 December 2022 10,516 1,484 12,000

4. Stocks

2023 2022
£ £
Work in progress 40,301 42,430

5. Debtors

2023 2022
£ £
Trade debtors 65,168 108,257
Other debtors 3,539 3,282
68,707 111,539

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 52,739 61,424
Other creditors 11,762 13,167
64,501 74,591