Registered number
06351274
S G Webb & Son Engineering Limited
Unaudited Filleted Accounts
30 September 2023
S G Webb & Son Engineering Limited
Registered number: 06351274
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 5 2,516 14,275
2,516 14,275
Current assets
Debtors 6 55,283 50,453
Cash at bank and in hand 207,700 235,356
262,983 285,809
Creditors: amounts falling due within one year 7 (81,927) (108,422)
Net current assets 181,056 177,387
Total assets less current liabilities 183,572 191,662
Provisions for liabilities (2,712) (2,712)
Net assets 180,860 188,950
Capital and reserves
Called up share capital 100 100
Profit and loss account 180,760 188,850
Shareholders' funds 180,860 188,950
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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. P. H. R. Webb
Director
Approved by the board on 1 December 2023
S G Webb & Son Engineering Limited
Notes to the Accounts
for the year ended 30 September 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 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Commercial vehicles 25% reducing balance
Plant and machinery 15% straight line
Fixtures, fittings, tools and equipment 33% straight line
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 3 3
4 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 150,000
Additions -
Disposals -
At 30 September 2023 150,000
Amortisation
At 1 October 2022 150,000
Provided during the year -
On disposals -
At 30 September 2023 150,000
Net book value
At 30 September 2023 -
At 30 September 2022 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
5 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 October 2022 245,716 42,695 288,411
Additions - - -
Surplus on revaluation - - -
Disposals - - -
At 30 September 2023 245,716 42,695 288,411
Depreciation
At 1 October 2022 231,651 42,485 274,136
Charge for the year 11,706 53 11,759
Surplus on revaluation - - -
On disposals - - -
At 30 September 2023 243,357 42,538 285,895
Net book value
At 30 September 2023 2,359 157 2,516
At 30 September 2022 14,065 210 14,275
6 Debtors 2023 2022
£ £
Trade debtors 54,161 49,054
Other debtors 1,122 1,399
55,283 50,453
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors (1,880) 846
Taxation and social security costs 14,873 36,367
Other creditors 68,934 71,209
81,927 108,422
8 Other information
S G Webb & Son Engineering Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Parsons Green Industrial Estate
Boulton Road
Stevenage
Hertfordshire
SG1 4QG
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