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COMPANY REGISTRATION NUMBER: 07862531
SBK Surveys Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
SBK Surveys Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
16,182
16,522
Current assets
Debtors
6
6,752
30,211
Cash at bank and in hand
35,612
23,438
--------
--------
42,364
53,649
Creditors: amounts falling due within one year
7
22,083
20,537
--------
--------
Net current assets
20,281
33,112
--------
--------
Total assets less current liabilities
36,463
49,634
--------
--------
Net assets
36,463
49,634
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
36,363
49,534
--------
--------
Shareholders funds
36,463
49,634
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SBK Surveys Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 18 September 2024 , and are signed on behalf of the board by:
S B King
Director
Company registration number: 07862531
SBK Surveys Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares. The address of the registered office is 1 Heslington Lane, Fulford, York, YO10 4HW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial Statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for services rendered, net of discounts and of Value Added Tax.
(d) Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
20% reducing balance
Equipment
-
20% reducing balance
(g) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 January 2023
44,764
3,248
48,012
Additions
3,500
208
3,708
--------
-------
--------
At 31 December 2023
48,264
3,456
51,720
--------
-------
--------
Depreciation
At 1 January 2023
28,786
2,704
31,490
Charge for the year
3,897
151
4,048
--------
-------
--------
At 31 December 2023
32,683
2,855
35,538
--------
-------
--------
Carrying amount
At 31 December 2023
15,581
601
16,182
--------
-------
--------
At 31 December 2022
15,978
544
16,522
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
5,514
27,846
Other debtors
1,238
2,365
-------
--------
6,752
30,211
-------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
4,737
9,342
Social security and other taxes
4,235
7,109
Directors loan account
11,856
2,622
Other creditors
1,255
1,464
--------
--------
22,083
20,537
--------
--------
8. Related party transactions
During the year the company made available loans to the director . The loans are interest free and repayable on demand. At 31 December 2023 the balance due to the director totalled £ 11,856 (2022: £ 2,622 ).