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Registered Number: 09455198
England and Wales

 

 

 

SGC PROPERTY MAINTENANCE (SUSSEX) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2023

End date: 28 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SGC Property Maintenance (Sussex) Limited for the year ended 28 February 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/regulations.

This report is made solely to the Board of Directors of SGC Property Maintenance (Sussex) Limited, as a body, in accordance with the terms of our engagement letter dated 28 August 2024. Our work has been undertaken solely to prepare for your approval the financial statements of SGC Property Maintenance (Sussex) Limited and state those matters that we have agreed to state to the Board of Directors of SGC Property Maintenance (Sussex) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at http://icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SGC Property Maintenance (Sussex) Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that SGC Property Maintenance (Sussex) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SGC Property Maintenance (Sussex) Limited. You consider that SGC Property Maintenance (Sussex) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SGC Property Maintenance (Sussex) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.


Acorn Financial Solutions Ltd
99 Brentwood Road
Brighton
East Sussex
BN1 7ET
28 August 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 1,069    2,578 
1,069    2,578 
Current assets      
Debtors: amounts falling due after one year 822    361 
Cash at bank and in hand 4,211    6,289 
5,033    6,650 
Creditors: amount falling due within one year (7,902)   (2,356)
Net current assets (2,869)   4,294 
 
Total assets less current liabilities (1,800)   6,872 
Creditors: amount falling due after more than one year (6,347)   (5,967)
Net assets (8,147)   905 
 

Capital and reserves
     
Profit and loss account (8,147)   905 
Shareholders' funds (8,147)   905 
 


For the year ended 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 August 2024 and were signed by:


-------------------------------
Steven Cooper
Director
2
General Information
SGC Property Maintenance (Sussex) Limited is a private company, limited by shares, registered in England and Wales, registration number 09455198, registration address 99 Brentwood Road, Brighton, East Sussex, BN1 7ET.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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).
Going concern basis
The director is taking time out for personal commitments.  The company's operations are under review to restart in the future to levels before the pandemic.  It is expected sales and profitability will resume as soon as these commitments are reduced.  It is only this need for the director to avert time elsewhere that means the company is not growing and seeking sales outside of its current contact list of clients.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts.  The company is not registered for Value added tax.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 50% Reducing Balance
Fixtures and Fittings 4 years Straight Line
Computer Equipment 3 years Straight Line
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Financial Commitments, Guarantees and Contingencies

The company received a Bounce Back Loan in October of 2020 following numerous lockdowns imposed during the Coronavirus pandemic.
This is a 100% government backed loan and there is no personal guarantee required by the Director.
The first year only interest was due to be paid, and this has been charged to the Profit and Loss account as Bank Loan interest paid.
The monies received from the government to pay this interest in the first year has been credited to Government Grants in the Profit and Loss Account.
The company triggered a 6 month repayment holiday from December 2022 whilst the director managed a break for personal reasons.

4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 March 2023 5,515    345    3,463    9,323 
Additions      
Disposals      
At 28 February 2024 5,515    345    3,463    9,323 
Depreciation
At 01 March 2023 4,863    207    1,675    6,745 
Charge for year 432    86    991    1,509 
On disposals      
At 28 February 2024 5,295    293    2,666    8,254 
Net book values
Closing balance as at 28 February 2024 220    52    797    1,069 
Opening balance as at 01 March 2023 652    138    1,788    2,578 


5.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
1 Class A share of £1.00 each  
 

3