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REGISTERED NUMBER: SC335348 (Scotland)















Financial Statements For The Year Ended 30 November 2023

for

SGS Group (North) Ltd

SGS Group (North) Ltd (Registered number: SC335348)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SGS Group (North) Ltd

Company Information
For The Year Ended 30 November 2023







DIRECTORS: B Hamilton
Mrs M Hamilton





SECRETARY: Mrs M Hamilton





REGISTERED OFFICE: 7 Barraston Holdings
Torrance
Glasgow
G64 4DW





REGISTERED NUMBER: SC335348 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

SGS Group (North) Ltd (Registered number: SC335348)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 418,679 396,752

CURRENT ASSETS
Stocks 56,977 105,308
Debtors 5 175,572 223,279
Cash at bank 152,761 148,017
385,310 476,604
CREDITORS
Amounts falling due within one year 6 375,587 467,664
NET CURRENT ASSETS 9,723 8,940
TOTAL ASSETS LESS CURRENT
LIABILITIES

428,402

405,692

CREDITORS
Amounts falling due after more than one
year

7

(107,346

)

(118,881

)

PROVISIONS FOR LIABILITIES (87,442 ) (75,336 )
NET ASSETS 233,614 211,475

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 233,514 211,375
SHAREHOLDERS' FUNDS 233,614 211,475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

SGS Group (North) Ltd (Registered number: SC335348)

Statement of Financial Position - continued
30 November 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:





Mrs M Hamilton - Director


SGS Group (North) Ltd (Registered number: SC335348)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

SGS Group (North) Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.
Improvements to property - 10% on cost
Fixed plant and equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% 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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SGS Group (North) Ltd (Registered number: SC335348)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixed Fixtures
to plant and and Motor
property equipment fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 54,000 539,132 13,077 236,971 843,180
Additions - 94,988 - 22,789 117,777
At 30 November 2023 54,000 634,120 13,077 259,760 960,957
DEPRECIATION
At 1 December 2022 5,400 353,463 10,007 77,558 446,428
Charge for year 5,400 54,696 765 34,989 95,850
At 30 November 2023 10,800 408,159 10,772 112,547 542,278
NET BOOK VALUE
At 30 November 2023 43,200 225,961 2,305 147,213 418,679
At 30 November 2022 48,600 185,669 3,070 159,413 396,752

SGS Group (North) Ltd (Registered number: SC335348)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixed
plant and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 December 2022 134,679 158,676 293,355
Additions 86,009 22,789 108,798
Transfer to ownership (71,058 ) (19,935 ) (90,993 )
At 30 November 2023 149,630 161,530 311,160
DEPRECIATION
At 1 December 2022 63,169 32,369 95,538
Charge for year 17,412 23,531 40,943
Transfer to ownership (37,852 ) (9,384 ) (47,236 )
At 30 November 2023 42,729 46,516 89,245
NET BOOK VALUE
At 30 November 2023 106,901 115,014 221,915
At 30 November 2022 71,510 126,307 197,817

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 118,407 151,199
Amounts recovered on contract 38,029 69,311
VAT 18,320 -
Prepayments 816 2,769
175,572 223,279

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,222 24,388
Hire purchase contracts (see note 8) 50,166 60,418
Trade creditors 166,955 228,007
Tax 42,679 8,430
Social security and other taxes 42,602 82,457
VAT - 3,065
Other creditors 5,066 5,318
Directors' current accounts 32,488 43,779
Accrued expenses 13,409 11,802
375,587 467,664

SGS Group (North) Ltd (Registered number: SC335348)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 20,739 22,222
Bank loans - 2-5 years - 20,370
Hire purchase contracts (see note 8) 86,607 76,289
107,346 118,881

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 50,166 60,418
Between one and five years 86,607 76,289
136,773 136,707

Non-cancellable operating leases
2023 2022
£    £   
Within one year 15,769 16,465
Between one and five years 55,734 57,883
In more than five years 10,215 23,835
81,718 98,183

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 42,961 66,980
Hire purchase contracts 136,773 136,707
179,734 203,687

Clydesdale Bank PLC hold a floating charge over all of the company's property, assets and rights.