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REGISTERED NUMBER: 05041985 (England and Wales)













Financial Statements

for the Year Ended 31 March 2024

for

SDG Access Limited

SDG Access Limited (Registered number: 05041985)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SDG Access Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs L J Farrar
Mr J M Farrar
Mr S D Farrar



SECRETARY: Mrs L J Farrar



REGISTERED OFFICE: Farrars Parc
8 Lincoln Road
Navenby
LINCOLN
Lincolnshire
LN5 0LA



REGISTERED NUMBER: 05041985 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: NatWest Bank Plc
225 High Street
LINCOLN
Lincolnshire
LN2 1AZ

SDG Access Limited (Registered number: 05041985)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,103,148 751,690

CURRENT ASSETS
Stocks 136,834 47,380
Debtors 5 847,185 663,803
Cash at bank and in hand 245,188 148,756
1,229,207 859,939
CREDITORS
Amounts falling due within one year 6 624,095 373,403
NET CURRENT ASSETS 605,112 486,536
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,708,260

1,238,226

CREDITORS
Amounts falling due after more than
one year

7

(437,004

)

(469,839

)

PROVISIONS FOR LIABILITIES (68,075 ) (67,075 )
NET ASSETS 1,203,181 701,312

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 10 346,177 -
Retained earnings 856,004 700,312
SHAREHOLDERS' FUNDS 1,203,181 701,312

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

SDG Access Limited (Registered number: 05041985)

Statement of Financial Position - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





Mrs L J Farrar - Director


SDG Access Limited (Registered number: 05041985)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

SDG Access 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
Estimates and judgements are continually evaluated by the directors and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible fixed asset lives and residual values
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. Judgement is applied in determining the residual values of fixed assets by assessing the amount that the company would currently obtain for disposing of the asset in the condition it is expected to be in at the end of its useful life. The estimation of useful lives is based on historic performance as well as expectations about future use. Useful lives are reviewed to reflect current estimates of technological advancement, future investment policy, economic utilisation and the physical condition of the asset.

Tangible fixed assets acquired on finance agreements are depreciated over the lease term even when the intention is to use them for a longer period. The estimate of residual value at the end of the lease is based on what the depreciated amount would have been at this date if the asset was depreciated over its useful life using a residual value at the end of its useful life.

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.
Freehold property - 2% on cost
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% 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.

SDG Access Limited (Registered number: 05041985)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.
Cash at bank is classified as a basic financial instrument and is measured at transaction price.
Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

SDG Access Limited (Registered number: 05041985)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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 32 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 482,470 192,341 96,600 241,440 1,012,851
Additions 2,340 - 10,984 83,773 97,097
Disposals - - - (5,616 ) (5,616 )
Revaluations 315,190 - - - 315,190
At 31 March 2024 800,000 192,341 107,584 319,597 1,419,522
DEPRECIATION
At 1 April 2023 30,987 101,545 44,932 83,697 261,161
Charge for year - 18,159 12,279 60,045 90,483
Eliminated on disposal - - - (4,283 ) (4,283 )
Revaluation adjustments (30,987 ) - - - (30,987 )
At 31 March 2024 - 119,704 57,211 139,459 316,374
NET BOOK VALUE
At 31 March 2024 800,000 72,637 50,373 180,138 1,103,148
At 31 March 2023 451,483 90,796 51,668 157,743 751,690

SDG Access Limited (Registered number: 05041985)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2024 315,190 - - - 315,190
Cost 484,810 192,341 107,584 319,597 1,104,332
800,000 192,341 107,584 319,597 1,419,522

If the freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 484,810 -
Aggregate depreciation 30,987 -

Freehold land and buildings were valued on an open market basis on 18 December 2023 by Mundys .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 35,848
DEPRECIATION
At 1 April 2023
and 31 March 2024 5,974
NET BOOK VALUE
At 31 March 2024 29,874
At 31 March 2023 29,874

SDG Access Limited (Registered number: 05041985)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 804,117 631,265
Other debtors 18,283 18,246
Staff loans 412 1,722
Directors' current accounts 4,872 -
Prepayments 19,501 12,570
847,185 663,803

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 12,014 10,749
Other loans 5,267 5,000
Hire purchase contracts (see note 8)
6,710

14,366
Trade creditors 249,287 162,894
Tax 90,795 49,075
Social security and other taxes 32,507 31,651
VAT 102,563 49,580
Other creditors 6,477 6,959
Directors' current accounts 7,654 27,964
Accrued expenses 110,821 15,165
624,095 373,403

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 12,014 10,749
Bank loans - 2-5 years 36,043 32,248
Bank loans more 5 yr by instal 350,128 368,467
Other loans - 1-2 years 5,267 5,000
Other loans - 2-5 years 15,802 15,000
Other loans more 5yrs instal 9,057 15,661
Hire purchase contracts (see note 8)
8,693

22,714
437,004 469,839

SDG Access Limited (Registered number: 05041985)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 350,128 368,467
Other loans more 5yrs instal 9,057 15,661
359,185 384,128

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 6,710 14,366
Between one and five years 8,693 22,714
15,403 37,080


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 410,199 422,213
Hire purchase contracts 15,403 37,080
425,602 459,293

Hire purchase agreements are secured on the assets to which they relate. The bank loan is secured over the new office property and land.

10. RESERVES
Revaluatio
reserve
£   
Revaluation 346,177

At 31 March 2024 346,177

SDG Access Limited (Registered number: 05041985)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr J M Farrar
Balance outstanding at start of year - -
Amounts advanced 32,535 -
Amounts repaid (30,129 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,406 -

Mrs L J Farrar
Balance outstanding at start of year - -
Amounts advanced 32,778 -
Amounts repaid (30,312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,466 -

12. RELATED PARTY DISCLOSURES

Included within creditors are directors loan account balances of: £7,654 (2023: £27,964) which are unsecured and interest free.

During the year directors were paid dividends of £120,120 (2023: £90,090).