20 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 60,000 60,000 xbrli:pure xbrli:shares iso4217:GBP 04412042 2023-06-01 2024-05-31 04412042 2024-05-31 04412042 2023-05-31 04412042 2022-06-01 2023-05-31 04412042 2023-05-31 04412042 2022-05-31 04412042 core:NetGoodwill 2023-06-01 2024-05-31 04412042 core:PlantMachinery 2023-06-01 2024-05-31 04412042 core:FurnitureFittings 2023-06-01 2024-05-31 04412042 core:MotorVehicles 2023-06-01 2024-05-31 04412042 bus:Director2 2023-06-01 2024-05-31 04412042 core:NetGoodwill 2024-05-31 04412042 core:LandBuildings 2023-05-31 04412042 core:PlantMachinery 2023-05-31 04412042 core:FurnitureFittings 2023-05-31 04412042 core:MotorVehicles 2023-05-31 04412042 core:LandBuildings 2024-05-31 04412042 core:PlantMachinery 2024-05-31 04412042 core:FurnitureFittings 2024-05-31 04412042 core:MotorVehicles 2024-05-31 04412042 core:LandBuildings 2023-06-01 2024-05-31 04412042 core:WithinOneYear 2024-05-31 04412042 core:WithinOneYear 2023-05-31 04412042 core:AfterOneYear 2024-05-31 04412042 core:AfterOneYear 2023-05-31 04412042 core:ShareCapital 2024-05-31 04412042 core:ShareCapital 2023-05-31 04412042 core:RetainedEarningsAccumulatedLosses 2024-05-31 04412042 core:RetainedEarningsAccumulatedLosses 2023-05-31 04412042 core:LandBuildings 2023-05-31 04412042 core:PlantMachinery 2023-05-31 04412042 core:FurnitureFittings 2023-05-31 04412042 core:MotorVehicles 2023-05-31 04412042 bus:SmallEntities 2023-06-01 2024-05-31 04412042 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 04412042 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 04412042 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04412042 bus:FullAccounts 2023-06-01 2024-05-31 04412042 core:LandBuildings core:LongLeaseholdAssets 2023-06-01 2024-05-31 04412042 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2023-06-01 2024-05-31 04412042 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2024-05-31 04412042 core:AfterOneYear 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 04412042
Sygma (Fire, Security & Electrical) Ltd
Unaudited financial statements
31 May 2024
Sygma (Fire, Security & Electrical) Ltd
Statement of financial position
31 May 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
915,047
764,187
Current assets
Stocks
134,777
118,587
Debtors
7
650,771
726,846
Cash at bank and in hand
274,583
802
-----------
---------
1,060,131
846,235
Creditors: Amounts falling due within one year
8
( 1,158,930)
( 813,907)
-----------
---------
Net current (liabilities)/assets
( 98,799)
32,328
---------
---------
Total assets less current liabilities
816,248
796,515
Creditors: Amounts falling due after more than one year
9
( 457,609)
( 502,093)
Provisions
Taxation including deferred tax
( 27,549)
( 15,189)
---------
---------
Net assets
331,090
279,233
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
330,990
279,133
---------
---------
Shareholders funds
331,090
279,233
---------
---------
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 income statement has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sygma (Fire, Security & Electrical) Ltd
Statement of financial position (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
K P White
Director
Company registration number: 04412042
Sygma (Fire, Security & Electrical) Ltd
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit K, Bois Meadow Business Centre, Steeple Bumpstead, Suffolk, CB9 7BN.
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
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Leasehold property
-
92 years straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of employees during the year was 20 (2023: 21 ).
5. Intangible assets
Goodwill
£
Cost
At 1 June 2023 and 31 May 2024
60,000
-------
Amortisation
At 1 June 2023 and 31 May 2024
60,000
-------
Carrying amount
At 31 May 2024
-------
At 31 May 2023
-------
6. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Narrow boat
Total
£
£
£
£
£
£
Cost
At 1 June 2023
361,000
69,326
35,985
503,616
969,927
Additions
11,025
1,000
256,233
70,000
338,258
Disposals
( 112,157)
( 112,157)
---------
-------
-------
---------
-------
-----------
At 31 May 2024
361,000
80,351
36,985
647,692
70,000
1,196,028
---------
-------
-------
---------
-------
-----------
Depreciation
At 1 June 2023
4,905
43,561
32,964
124,310
205,740
Charge for the year
3,924
8,035
757
112,356
125,072
Disposals
( 49,831)
( 49,831)
---------
-------
-------
---------
-------
-----------
At 31 May 2024
8,829
51,596
33,721
186,835
280,981
---------
-------
-------
---------
-------
-----------
Carrying amount
At 31 May 2024
352,171
28,755
3,264
460,857
70,000
915,047
---------
-------
-------
---------
-------
-----------
At 31 May 2023
356,095
25,765
3,021
379,306
764,187
---------
-------
-------
---------
-------
-----------
7. Debtors
2024
2023
£
£
Trade debtors
609,839
501,977
Other debtors
40,932
224,869
---------
---------
650,771
726,846
---------
---------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
74,585
99,140
Trade creditors
579,182
329,412
Social security and other taxes
168,938
107,372
Other creditors
336,225
277,983
-----------
---------
1,158,930
813,907
-----------
---------
Included within bank loans is an amount of £52,500 (2023: £52,500) which is secured by the company. Included within other creditors is an amount of £134,731 (2023: £98,539) which is secured by the company.
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
183,318
256,444
Other creditors
274,291
245,649
---------
---------
457,609
502,093
---------
---------
Included within bank loans is an amount of £183,318 (2023: £256,444) which is secured by the company. Included within other creditors is an amount of £274,291 (2023: £245,649) which is secured by the company. Included within creditors amounts falling due after one year is an amount of £79,925 (2023 - £109,393) in respect of liabilities repayable by instalments which fall due for payment after more than five years from the reporting date. The loan interest is charged at 5.6% is due to mature on 04/03/2032.