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Registration number: 00555323

S G J Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

S G J Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

S G J Limited

(Registration number: 00555323)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

76,624

76,800

Investments

5

18,000

18,000

 

94,624

94,800

Current assets

 

Stocks

6

385,964

408,682

Debtors

7

505,987

272,034

Cash at bank and in hand

 

1,680

127

 

893,631

680,843

Creditors: Amounts falling due within one year

8

(652,707)

(336,540)

Net current assets

 

240,924

344,303

Total assets less current liabilities

 

335,548

439,103

Creditors: Amounts falling due after more than one year

8

(115,673)

(50,027)

Net assets

 

219,875

389,076

Capital and reserves

 

Called up share capital

9

108,400

108,400

Retained earnings

111,475

280,676

Shareholders' funds

 

219,875

389,076

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

 

S G J Limited

(Registration number: 00555323)
Balance Sheet as at 31 December 2023

.........................................
A A Jewson
Director

 

S G J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
30 St Giles'
Oxford
OX1 3LE

The principal place of business is:
Half Mile House
Little Chesterton
Bicester
Oxon
OX25 3PD

These financial statements were authorised for issue by the Board on 25 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. This is the first year of adopting FRS 102 section 1A, no changes have been made to the comparatives.

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

S G J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rate at the balance sheet date. All exchange differences are included in the profit and loss account.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.


The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold properties

Nil

Fixtures, fittings, tools and equipment

10% Straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

S G J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 2).

 

S G J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Long lease land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

66,049

51,785

117,834

Additions

-

1,615

1,615

Disposals

-

(28,945)

(28,945)

At 31 December 2023

66,049

24,455

90,504

Depreciation

At 1 January 2023

-

41,034

41,034

Charge for the year

-

1,791

1,791

Eliminated on disposal

-

(28,945)

(28,945)

At 31 December 2023

-

13,880

13,880

Carrying amount

At 31 December 2023

66,049

10,575

76,624

At 31 December 2022

66,049

10,751

76,800


 

 

S G J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Investments

2023
£

2022
£

Investments in associates

18,000

18,000

Associates

£

Cost

At 1 January 2023

18,000

Provision

Carrying amount

At 31 December 2023

18,000

At 31 December 2022

18,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Associates

Jackpen Limited

3 Danebrook Court
Langford Lane
Kidlington
Oxfordshire
OX5 1LQ

Ordinary shares

20%

20%

Associates

Jackpen Limited

The principal activity of Jackpen Limited is the retail sale of pens.

6

Stocks

2023
£

2022
£

Work in progress

385,964

408,682

 

S G J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

741

-

Amounts owed by group undertakings and undertakings in which the company has a participating interest

11

190,826

197,953

Prepayments

 

5,506

1,462

Other debtors

 

308,914

72,619

 

505,987

272,034

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

281,946

271,533

Trade creditors

 

5,719

1,954

Taxation and social security

 

6,837

14,357

Accruals and deferred income

 

11,800

11,535

Other creditors

 

346,405

37,161

 

652,707

336,540

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

115,673

50,027

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

108,400

108,400

108,400

108,400

       
 

S G J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

115,673

50,027

Current loans and borrowings

2023
£

2022
£

Bank borrowings

35,087

-

Other borrowings

246,859

271,533

281,946

271,533

 

S G J Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

11

Related party transactions

Summary of transactions with associates

During the year further sums were loaned from Jackpen Limited totalling £7,127 (2022: loaned £1,857 to Jackpen). At the balance sheet date, the amount due from Jackpen Limited was £190,826 (2022: £197,953).
 

Summary of transactions with other related parties

SGJ Developments Limited
(The directors of SGJ Limited are the directors of SGJ Developments Limited)

 During the year SGJ Limited charged management fees to SGJ Developments Limited of £41,000 (2022: £nil). At the balance sheet date the amount due to SGJ Developments Limited was £37,802 (2022: £37,161).
 

Loans to related parties

2023

Key management
£

Total
£

At start of period

340,015

340,015

Advanced

447,840

447,840

Repaid

(533,352)

(533,352)

At end of period

254,503

254,503

2022

Key management
£

Total
£

Advanced

340,015

340,015

At end of period

340,015

340,015