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REGISTERED NUMBER: 08491971 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

SAMGEM ASSOCIATES LIMITED

SAMGEM ASSOCIATES LIMITED (REGISTERED NUMBER: 08491971)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SAMGEM ASSOCIATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTOR: G P Martin





REGISTERED OFFICE: 19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW





REGISTERED NUMBER: 08491971 (England and Wales)





ACCOUNTANTS: Barker Wilkinson Limited
19-21 Middle Row
Stevenage
Hertfordshire
SG1 3AW

SAMGEM ASSOCIATES LIMITED (REGISTERED NUMBER: 08491971)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 6 1,037 1,166
Cash at bank 71,218 77,096
72,255 78,262
CREDITORS
Amounts falling due within one year 7 7,175 10,776
NET CURRENT ASSETS 65,080 67,486
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,080

67,486

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 64,980 67,386
SHAREHOLDERS' FUNDS 65,080 67,486

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

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 director and authorised for issue on 23rd September 2024 and were signed by:





G P Martin - Director


SAMGEM ASSOCIATES LIMITED (REGISTERED NUMBER: 08491971)

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

1. STATUTORY INFORMATION

Samgem Associates 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. 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.

The director has assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The director has not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st March 2024 have been prepared using the going concern basis of accounting.

Turnover
Turnover represents commissions received for the sale of financial products.

Initial revenue is recognised at the inception of the policy to which it relates.

Trail and renewal revenue are recognised as the consideration arises.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Financial instruments
The director considers all financial instruments to be basic financial instruments in accordance with 11 of section 11 FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Taxation
Taxation for the year comprises current 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 taxation 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SAMGEM ASSOCIATES LIMITED (REGISTERED NUMBER: 08491971)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 30,000
AMORTISATION
At 1st April 2023
and 31st March 2024 30,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st April 2023
and 31st March 2024 724
DEPRECIATION
At 1st April 2023
and 31st March 2024 724
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 1,037 1,166

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 5,535 9,146
Social security and other taxes 140 130
Accrued expenses 1,500 1,500
7,175 10,776