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REGISTERED NUMBER: 10836944 (England and Wales)









SGS EQUIPMENT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SGS EQUIPMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: G Hunter





REGISTERED OFFICE: Unit 7 Bridge Industries
Broadcut
Fareham
Hampshire
PO16 8SX





REGISTERED NUMBER: 10836944 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 338,387 294,732

CURRENT ASSETS
Stocks 8,750 8,750
Debtors 5 318,792 324,920
Cash at bank and in hand 71,191 26,497
398,733 360,167
CREDITORS
Amounts falling due within one year 6 309,336 329,231
NET CURRENT ASSETS 89,397 30,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

427,784

325,668

CREDITORS
Amounts falling due after more than one
year

7

(63,355

)

(58,612

)

PROVISIONS FOR LIABILITIES 9 (52,427 ) (31,550 )
NET ASSETS 312,002 235,506

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 312,001 235,505
SHAREHOLDERS' FUNDS 312,002 235,506

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

BALANCE SHEET - continued
30 JUNE 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 April 2024 and were signed by:





G Hunter - Director


SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

SGS Equipment Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales of goods and services provided during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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 shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 128,680 191,147 286
Additions - 44,671 -
Disposals - - -
At 30 June 2023 128,680 235,818 286
DEPRECIATION
At 1 July 2022 - 66,659 123
Charge for year - 16,916 41
Eliminated on disposal - - -
At 30 June 2023 - 83,575 164
NET BOOK VALUE
At 30 June 2023 128,680 152,243 122
At 30 June 2022 128,680 124,488 163

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 72,674 4,735 397,522
Additions 38,862 - 83,533
Disposals (15,329 ) - (15,329 )
At 30 June 2023 96,207 4,735 465,726
DEPRECIATION
At 1 July 2022 32,855 3,153 102,790
Charge for year 18,761 522 36,240
Eliminated on disposal (11,691 ) - (11,691 )
At 30 June 2023 39,925 3,675 127,339
NET BOOK VALUE
At 30 June 2023 56,282 1,060 338,387
At 30 June 2022 39,819 1,582 294,732

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022 54,647
Additions 38,862
At 30 June 2023 93,509
DEPRECIATION
At 1 July 2022 20,342
Charge for year 18,292
At 30 June 2023 38,634
NET BOOK VALUE
At 30 June 2023 54,875
At 30 June 2022 34,305

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 118,158 104,164
Other debtors 200,634 220,756
318,792 324,920

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 27,452 11,273
Trade creditors 19,841 44,648
Amounts owed to group undertakings 164,527 170,277
Taxation and social security 64,943 68,381
Other creditors 32,573 34,652
309,336 329,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 50,038 31,370
Other creditors 13,317 27,242
63,355 58,612

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 77,490 42,643

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 52,427 31,550

Deferred
tax
£   
Balance at 1 July 2022 31,550
Accelerated capital allowances 20,877
Balance at 30 June 2023 52,427

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary £1 1 1

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
G Hunter
Balance outstanding at start of year 173,733 76,506
Amounts advanced 34,708 135,474
Amounts repaid (54,612 ) (38,247 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 153,829 173,733

12. RELATED PARTY DISCLOSURES

During the year the company incurred rent of 2023: £26,000 (2022: £12,000) on premises of which 100% (2022: 50%) is owned by the director.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Hunter.