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Company Registration No. 07531040 (England and Wales)
S G Menswear Limited Unaudited accounts for the year ended 31 March 2024
S G Menswear Limited Unaudited accounts Contents
Page
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S G Menswear Limited Company Information for the year ended 31 March 2024
Director
Mr P J Ault
Company Number
07531040 (England and Wales)
Registered Office
122-124 BRADSHAWGATE LEIGH LANCASHIRE WN7 4NP
Accountants
J F Balshaw & Co 20 Old Kiln Lane Heaton Bolton Lancashire BL1 5PD
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S G Menswear Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
57,340 
59,502 
Current assets
Inventories
4,800 
4,800 
Cash at bank and in hand
86,936 
71,878 
91,736 
76,678 
Creditors: amounts falling due within one year
(16,309)
(14,855)
Net current assets
75,427 
61,823 
Total assets less current liabilities
132,767 
121,325 
Provisions for liabilities
Deferred tax
(12,649)
(13,060)
Net assets
120,118 
108,265 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
120,018 
108,165 
Shareholders' funds
120,118 
108,265 
For the year ending 31 March 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 September 2024 and were signed on its behalf by
Mr P J Ault Director Company Registration No. 07531040
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S G Menswear Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
S G Menswear Limited is a private company, limited by shares, registered in England and Wales, registration number 07531040. The registered office is 122-124 BRADSHAWGATE, LEIGH, LANCASHIRE, WN7 4NP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Fixtures & fittings
20% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
15,000 
At 31 March 2024
15,000 
Amortisation
At 1 April 2023
15,000 
At 31 March 2024
15,000 
Net book value
At 31 March 2024
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S G Menswear Limited Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
209,692 
2,764 
212,456 
Additions
11,750 
423 
12,173 
At 31 March 2024
221,442 
3,187 
224,629 
Depreciation
At 1 April 2023
150,868 
2,086 
152,954 
Charge for the year
14,115 
220 
14,335 
At 31 March 2024
164,983 
2,306 
167,289 
Net book value
At 31 March 2024
56,459 
881 
57,340 
At 31 March 2023
58,824 
678 
59,502 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
15,087 
13,667 
Other creditors
964 
930 
Loans from directors
258 
258 
16,309 
14,855 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Transactions with related parties
The company owes a balance of £258 to the director, Mr P Ault (2023 £258).
9
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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