Registered number
04285926
Sfc (Edmonton) Limited
Report and Accounts
30 June 2023
Sfc (Edmonton) Limited
Registered number: 04285926
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 844,846 802,336
Current assets
Stocks 98,500 116,850
Debtors 4 275,000 309,703
Cash at bank and in hand 63,794 60,944
437,294 487,497
Creditors: amounts falling due within one year 5 (54,174) (88,667)
Net current assets 383,120 398,830
Total assets less current liabilities 1,227,966 1,201,166
Creditors: amounts falling due after more than one year 6 (46,207) -
Provisions for liabilities (3,346) -
Net assets 1,178,413 1,201,166
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,178,411 1,201,164
Shareholder's funds 1,178,413 1,201,166
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Hasan Cavus
Director
Approved by the board on 27 February 2024
Sfc (Edmonton) Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 20% on reducing balance
Fixtures, fittings, tools and equipment 20% on reducing balance
Motor Vehicles 20% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 18
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 761,750 307,103 62,905 1,131,758
Additions - 6,450 48,216 54,666
At 30 June 2023 761,750 313,553 111,121 1,186,424
Depreciation
At 1 July 2022 - 270,618 58,804 329,422
Charge for the year - 9,122 3,034 12,156
At 30 June 2023 - 279,740 61,838 341,578
Net book value
At 30 June 2023 761,750 33,813 49,283 844,846
At 30 June 2022 761,750 36,485 4,101 802,336
4 Debtors 2023 2022
£ £
Trade debtors - 306,655
Other debtors 275,000 3,048
275,000 309,703
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 24,090 40,543
Taxation and social security costs 30,084 44,269
Other creditors - 3,855
54,174 88,667
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 46,207 -
7 Other information
Sfc (Edmonton) Limited is a private company limited by shares and incorporated in England. Its registered office is:
196 Hertford Road
London
N9 7HH
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