Company registration number 13691977 (England and Wales)
SITE GUARDIAN GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
SITE GUARDIAN GROUP LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
SITE GUARDIAN GROUP LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
207,196
83,970
Current assets
Debtors
4
88,775
62,268
Cash at bank and in hand
17,244
17,751
106,019
80,019
Creditors: amounts falling due within one year
5
(143,719)
(43,512)
Net current (liabilities)/assets
(37,700)
36,507
Total assets less current liabilities
169,496
120,477
Creditors: amounts falling due after more than one year
6
(6,667)
Provisions for liabilities
(49,086)
Net assets
113,743
120,477
Capital and reserves
Called up share capital
7
100
1
Profit and loss reserves
113,643
120,476
Total equity
113,743
120,477
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 31 July 2024 and are signed on its behalf by:
Mr Mark Davies
Director
Company registration number 13691977 (England and Wales)
SITE GUARDIAN GROUP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 20 October 2021
-
Year ended 31 October 2022:
Profit and total comprehensive income
-
120,476
120,476
Issue of share capital
7
1
-
1
Balance at 31 October 2022
1
120,476
120,477
Year ended 31 October 2023:
Profit and total comprehensive income
-
124,236
124,236
Issue of share capital
7
99
-
99
Dividends
-
(131,069)
(131,069)
Balance at 31 October 2023
100
113,643
113,743
SITE GUARDIAN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies
Company information
Site Guardian Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 29 John Baker Close, Llantarnam Industrial Park, Cwmbran, Torfaen, NP44 3AX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
33.3% reducing balance
Plant and equipment
5 years straight line
Fixtures and fittings
33.3% reducing balance
Computers
3 years straight line
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and recoverable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
SITE GUARDIAN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
1
SITE GUARDIAN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 November 2022
90,933
2,000
92,933
Additions
10,851
133,463
7,910
1,853
154,077
At 31 October 2023
10,851
224,396
7,910
3,853
247,010
Depreciation and impairment
At 1 November 2022
8,852
111
8,963
Depreciation charged in the year
546
28,663
732
910
30,851
At 31 October 2023
546
37,515
732
1,021
39,814
Carrying amount
At 31 October 2023
10,305
186,881
7,178
2,832
207,196
At 31 October 2022
82,081
1,889
83,970
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
82,580
61,986
Other debtors
6,195
282
88,775
62,268
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,001
Trade creditors
31,876
2,552
Corporation tax
16,603
2,834
Other taxation and social security
4,408
15,282
Other creditors
88,831
22,844
143,719
43,512
SITE GUARDIAN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 6 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
6,667
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
-
1
-
1
Ordinary A shares of £1 each
40
-
40
-
Ordinary B shares of £1 each
40
-
40
-
Ordinary C shares of £1 each
10
-
10
-
Ordinary D shares of £1 each
10
-
10
-
100
1
100
1
During the year 1 Ordinary, 38 Ordinary A, 40 Ordinary B, 20 Ordinary C and 20 Ordinary D shares of £1 was issued and fully paid. 2 Ordinary shares of £1 each were reclassified to 2 Ordinary A shares.
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
140,676
9
Directors' transactions
Dividends totalling £119,844 (2022 - £0) were paid in the year in respect of shares held by the company's directors.
The directors operate a current loan account with the company, which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn directors' fees. At the year end, the amount outstanding to the directors was £58,555 (2022 - £22,399); this balance is included in creditors: amounts falling due within one year.