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Registered number: 12142887
SDPG Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Xeinadin South Wales & West Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 12142887
31 October 2023 31 October 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 698,258 719,390
698,258 719,390
CURRENT ASSETS
Debtors 4 33,690 21,534
Cash at bank and in hand 4,395 36,530
38,085 58,064
Creditors: Amounts Falling Due Within One Year 5 (88,493 ) (252,478 )
NET CURRENT ASSETS (LIABILITIES) (50,408 ) (194,414 )
TOTAL ASSETS LESS CURRENT LIABILITIES 647,850 524,976
Creditors: Amounts Falling Due After More Than One Year 6 (443,248 ) (475,235 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,625 ) (2,392 )
NET ASSETS 202,977 47,349
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 202,877 47,249
SHAREHOLDERS' FUNDS 202,977 47,349
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Pierre Grigorian
Director
06/07/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 September 2021 100 2,449 2,549
Profit for the period and total comprehensive income - 44,800 44,800
As at 31 October 2022 and 1 November 2022 100 47,249 47,349
Profit for the year and total comprehensive income - 175,628 175,628
Dividends paid - (20,000) (20,000)
As at 31 October 2023 100 202,877 202,977
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Page 4
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Straight Line Basis
Fixtures & Fittings 20% Straight Line Basis
Computer Equipment 33% Straight Line Basis
1.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 4 (2022: 4)
4 4
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3. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 November 2022 752,128 11,103 13,109 776,340
As at 31 October 2023 752,128 11,103 13,109 776,340
Depreciation
As at 1 November 2022 45,326 4,051 7,573 56,950
Provided during the period 15,043 1,763 4,326 21,132
As at 31 October 2023 60,369 5,814 11,899 78,082
Net Book Value
As at 31 October 2023 691,759 5,289 1,210 698,258
As at 1 November 2022 706,802 7,052 5,536 719,390
4. Debtors
31 October 2023 31 October 2022
£ £
Due within one year
Trade debtors 26,000 1,056
Prepayments and accrued income 690 478
Other debtors - 20,000
Directors' loan accounts 7,000 -
33,690 21,534
5. Creditors: Amounts Falling Due Within One Year
31 October 2023 31 October 2022
£ £
Trade creditors (1 ) -
Bank loans and overdrafts 50,927 67,846
Corporation tax 13,327 16,076
VAT 6,811 5,049
Deferred Income 16,250 15,000
Accrued expenses - (11 )
Directors' loan accounts 1,179 845
Amounts owed to group undertakings - 147,673
88,493 252,478
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6. Creditors: Amounts Falling Due After More Than One Year
31 October 2023 31 October 2022
£ £
Bank loans 443,248 475,235
443,248 475,235
7. Share Capital
31 October 2023 31 October 2022
£ £
Allotted, Called up and fully paid 100 100
8. Related Party Transactions
As at balance sheet date, the directors owed to the company £5,820.00 (2022: £845.00 owed to the Directors).
During the year an inter company loan of £147,673 between related parties, PHG Consulting Engineering Limited and SDPG Limited was released via legal deed.
9. Ultimate Controlling Party
The company's ultimate controlling party are Mr Pierre Grigorian, Mrs Nicola Grigorian, Mr Stephen Davis, Mrs Sian Davis by virtue of their ownership of 100% of the issued share capital in the company.
10. General Information
SDPG Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12142887 . The registered office is 62 Albany Road, Cardiff, CF23 3RR.
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