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REGISTERED NUMBER: 09203972 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

S & G Coventry Ltd

S & G Coventry Ltd (Registered number: 09203972)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S & G Coventry Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs Raminder Kaur Sidhu
Mr Ranjeet Singh Sidhu





REGISTERED OFFICE: Office 1
21 Hatherton Street
Walsall
WS4 2LA





REGISTERED NUMBER: 09203972 (England and Wales)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

S & G Coventry Ltd (Registered number: 09203972)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 887,439 963,469
Tangible assets 5 24,101 21,607
911,540 985,076

CURRENT ASSETS
Stocks 56,490 52,000
Debtors 6 238,319 339,012
Cash at bank and in hand 99,440 62,827
394,249 453,839
CREDITORS
Amounts falling due within one year 7 (656,474 ) (637,430 )
NET CURRENT LIABILITIES (262,225 ) (183,591 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

649,315

801,485

CREDITORS
Amounts falling due after more than
one year

8

(639,215

)

(764,131

)
NET ASSETS 10,100 37,354

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10,000 37,254
SHAREHOLDERS' FUNDS 10,100 37,354

S & G Coventry Ltd (Registered number: 09203972)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2024 and were signed on its behalf by:





Mr Ranjeet Singh Sidhu - Director


S & G Coventry Ltd (Registered number: 09203972)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

S & G Coventry Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of 20 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


S & G Coventry Ltd (Registered number: 09203972)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 1,520,595
AMORTISATION
At 1 January 2023 557,126
Charge for year 76,030
At 31 December 2023 633,156
NET BOOK VALUE
At 31 December 2023 887,439
At 31 December 2022 963,469

S & G Coventry Ltd (Registered number: 09203972)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 47,638 22,866 70,504
Additions 8,361 - 8,361
At 31 December 2023 55,999 22,866 78,865
DEPRECIATION
At 1 January 2023 31,902 16,995 48,897
Charge for year 4,399 1,468 5,867
At 31 December 2023 36,301 18,463 54,764
NET BOOK VALUE
At 31 December 2023 19,698 4,403 24,101
At 31 December 2022 15,736 5,871 21,607

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 134,260 125,454
Other debtors 104,059 213,558
238,319 339,012

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 122,585 88,894
Trade creditors 239,470 243,951
Taxation and social security 22,336 24,079
Other creditors 272,083 280,506
656,474 637,430

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 639,215 764,131

S & G Coventry Ltd (Registered number: 09203972)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

During the year, the company has paid rent of £20,460 (2022: £25,575 for 15 months) in respect of "16 Bromleigh drive, Copsewood, Coventry" being the business property owned by the Director.

The company is owed £74,318 (2022: £164,871) by S&G Wolverhampton Limited. Ranjeet S Sidhu and Raminder Kaur were also directors of S&G Wolverhampton Ltd

11. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party are Mrs Raminder Kaur Sidhu & Mr Ranjeet Singh Sidhu by virtue of their ownership of 100% of the issued share capital in the company.