Registered number
07854998
SGH Maintenance Ltd
Filleted Accounts
31 October 2023
SGH Maintenance Ltd
Registered number: 07854998
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 35,281 48,898
Current assets
Debtors 4 117,837 77,691
Cash at bank and in hand 101,736 186,101
219,573 263,792
Creditors: amounts falling due within one year 5 (130,668) (164,476)
Net current assets 88,905 99,316
Total assets less current liabilities 124,186 148,214
Creditors: amounts falling due after more than one year 6 (18,484) (44,593)
Provisions for liabilities (8,821) (9,290)
Net assets 96,881 94,331
Capital and reserves
Called up share capital 100 100
Profit and loss account 96,781 94,231
Shareholders' funds 96,881 94,331
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 members have 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.
S.Hall
Director
Approved by the board on 8 April 2024
SGH Maintenance Ltd
Notes to the Accounts
for the year ended 31 October 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:
Plant and machinery 50% on Cost and 33% Reducing Balance
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.
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 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 111,099
Additions 4,358
At 31 October 2023 115,457
Depreciation
At 1 November 2022 62,201
Charge for the year 17,975
At 31 October 2023 80,176
Net book value
At 31 October 2023 35,281
At 31 October 2022 48,898
4 Debtors 2023 2022
£ £
Other debtors 117,837 77,691
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 16,109 21,246
Trade creditors 5,635 38,235
Taxation and social security costs 92,850 93,387
Other creditors 6,074 1,608
130,668 164,476
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 16,667 26,667
Obligations under finance lease and hire purchase contracts 1,817 17,926
18,484 44,593
7 Other information
SGH Maintenance Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Office 6, Town Hall
86 Watling Street East
Towcester
Northants
NN12 6BS
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