IRIS Accounts Production v24.2.0.383 09090109 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 502 502 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090901092022-12-31090901092023-12-31090901092023-01-012023-12-31090901092021-12-31090901092022-01-012022-12-31090901092022-12-3109090109ns15:EnglandWales2023-01-012023-12-3109090109ns14:PoundSterling2023-01-012023-12-3109090109ns10:Director12023-01-012023-12-3109090109ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3109090109ns10:SmallEntities2023-01-012023-12-3109090109ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3109090109ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3109090109ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109090109ns10:FullAccounts2023-01-012023-12-3109090109ns10:OrdinaryShareClass12023-01-012023-12-310909010941ns10:Director12021-12-310909010941ns10:Director12022-01-012022-12-3109090109ns10:Director22023-01-012023-12-3109090109ns10:Director32023-01-012023-12-3109090109ns10:RegisteredOffice2023-01-012023-12-3109090109ns5:CurrentFinancialInstruments2023-12-3109090109ns5:CurrentFinancialInstruments2022-12-3109090109ns5:ShareCapital2023-12-3109090109ns5:ShareCapital2022-12-3109090109ns5:RetainedEarningsAccumulatedLosses2023-12-3109090109ns5:RetainedEarningsAccumulatedLosses2022-12-3109090109ns5:PlantMachinery2023-01-012023-12-3109090109ns5:FurnitureFittings2023-01-012023-12-3109090109ns5:MotorVehicles2023-01-012023-12-3109090109ns5:PlantMachinery2022-12-3109090109ns5:FurnitureFittings2022-12-3109090109ns5:MotorVehicles2022-12-3109090109ns5:ComputerEquipment2022-12-3109090109ns5:ComputerEquipment2023-01-012023-12-3109090109ns5:PlantMachinery2023-12-3109090109ns5:FurnitureFittings2023-12-3109090109ns5:MotorVehicles2023-12-3109090109ns5:ComputerEquipment2023-12-3109090109ns5:PlantMachinery2022-12-3109090109ns5:FurnitureFittings2022-12-3109090109ns5:MotorVehicles2022-12-3109090109ns5:ComputerEquipment2022-12-3109090109ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3109090109ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3109090109ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3109090109ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3109090109ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3109090109ns10:OrdinaryShareClass12023-12-3109090109ns10:Director222022-12-3109090109ns10:Director222021-12-3109090109ns10:Director222023-01-012023-12-3109090109ns10:Director222022-01-012022-12-3109090109ns10:Director222023-12-3109090109ns10:Director222022-12-31
REGISTERED NUMBER: 09090109 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 December 2023

for

S G G Property Developments (North East)
Limited

S G G Property Developments (North East)
Limited (Registered number: 09090109)






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 G Property Developments (North East)
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Iannitello
Miss C A Farini
R Farini





REGISTERED OFFICE: The Skiff
Derwent Haugh
Gateshead
Tyne and Wear
NE16 3BE





REGISTERED NUMBER: 09090109 (England and Wales)





ACCOUNTANTS: Inspire Chartered Accountants
6 Queens Court
Third Avenue
Team Valley
Gateshead
Tyne and Wear
NE11 0BU

S G G Property Developments (North East)
Limited (Registered number: 09090109)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 17,765 20,242

CURRENT ASSETS
Stocks 17,200 11,200
Debtors 6 298,452 334,283
Cash at bank and in hand 78,059 42,488
393,711 387,971
CREDITORS
Amounts falling due within one year 7 276,731 329,935
NET CURRENT ASSETS 116,980 58,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

134,745

78,278

PROVISIONS FOR LIABILITIES - 3,846
NET ASSETS 134,745 74,432

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 133,745 73,432
SHAREHOLDERS' FUNDS 134,745 74,432

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.

S G G Property Developments (North East)
Limited (Registered number: 09090109)

Balance Sheet - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 July 2024 and were signed on its behalf by:





Miss C A Farini - Director


S G G Property Developments (North East)
Limited (Registered number: 09090109)

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

1. STATUTORY INFORMATION

S G G Property Developments (North East) Limited 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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 Statement of Income and Retained Earnings, 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 G Property Developments (North East)
Limited (Registered number: 09090109)

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

3. 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 20 ) .

S G G Property Developments (North East)
Limited (Registered number: 09090109)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 37,015 5,143 19,999 - 62,157
Additions 3,025 - - 458 3,483
At 31 December 2023 40,040 5,143 19,999 458 65,640
DEPRECIATION
At 1 January 2023 17,219 4,697 19,999 - 41,915
Charge for year 5,767 162 - 31 5,960
At 31 December 2023 22,986 4,859 19,999 31 47,875
NET BOOK VALUE
At 31 December 2023 17,054 284 - 427 17,765
At 31 December 2022 19,796 446 - - 20,242

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 19,999
DEPRECIATION
At 1 January 2023
and 31 December 2023 19,999
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 298,452 334,283

S G G Property Developments (North East)
Limited (Registered number: 09090109)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 27,969 79,439
Taxation and social security 108,066 119,115
Other creditors 140,696 131,381
276,731 329,935

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
G Iannitello and Miss C A Farini
Balance outstanding at start of year - (502 )
Amounts advanced - 502
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -