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REGISTERED NUMBER: 05407451 (England and Wales)















S G COMMERCIAL VEHICLE REPAIRS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S G COMMERCIAL VEHICLE REPAIRS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr S Grist





SECRETARY: Mrs W Grist





REGISTERED OFFICE: 424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 05407451 (England and Wales)





ACCOUNTANTS: Spurling Cannon
King Arthur’s Court
Maidstone Road
Charing
Kent
TN27 0JS

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 31,994 42,659
31,994 42,659

CURRENT ASSETS
Stocks 6 2,800 2,800
Debtors 7 75,137 86,319
Cash at bank 209,004 184,861
286,941 273,980
CREDITORS
Amounts falling due within one year 8 210,671 206,409
NET CURRENT ASSETS 76,270 67,571
TOTAL ASSETS LESS CURRENT
LIABILITIES

108,264

110,230

CREDITORS
Amounts falling due after more than one year 9 37,256 50,135
NET ASSETS 71,008 60,095

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 70,908 59,995
SHAREHOLDERS' FUNDS 71,008 60,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

BALANCE SHEET - continued
31 MARCH 2024


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 director and authorised for issue on 21 August 2024 and were signed by:





Mr S Grist - Director


S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

S G Commercial Vehicle Repairs 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixture & Fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 36,600
AMORTISATION
At 1 April 2023
and 31 March 2024 36,600
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Fixture &
property machinery Fittings
£    £    £   
COST
At 1 April 2023
and 31 March 2024 7,184 73,656 5,501
DEPRECIATION
At 1 April 2023 5,730 67,502 5,268
Charge for year 364 1,538 58
At 31 March 2024 6,094 69,040 5,326
NET BOOK VALUE
At 31 March 2024 1,090 4,616 175
At 31 March 2023 1,454 6,154 233

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 66,851 6,739 159,931
DEPRECIATION
At 1 April 2023 32,924 5,848 117,272
Charge for year 8,482 223 10,665
At 31 March 2024 41,406 6,071 127,937
NET BOOK VALUE
At 31 March 2024 25,445 668 31,994
At 31 March 2023 33,927 891 42,659

6. STOCKS
2024 2023
£    £   
Stocks 2,800 2,800

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 75,137 86,319

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 3,575 3,575
Trade creditors 54,133 57,103
Corporation Tax 17,885 18,414
Social security and other taxes 8,090 2,411
VAT 27,113 18,633
Sundry creditors 5,558 4,045
Directors' current accounts 82,052 89,963
Accrued expenses 2,265 2,265
210,671 206,409

S G COMMERCIAL VEHICLE REPAIRS LTD (REGISTERED NUMBER: 05407451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 13,910 23,205
Hire purchase contracts 23,346 26,930
37,256 50,135

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 April 2023 59,995
Profit for the year 40,913
Dividends (30,000 )
At 31 March 2024 70,908