Company Registration No. 13221278 (England and Wales)
SG Hellyer Ltd
Unaudited accounts
for the year ended 29 February 2024
SG Hellyer Ltd
Unaudited accounts
Contents
SG Hellyer Ltd
Company Information
for the year ended 29 February 2024
Company Number
13221278 (England and Wales)
Registered Office
First Floor
129 High Street
Guildford
Surrey
GU1 3AA
United Kingdom
SG Hellyer Ltd
Statement of financial position
as at 29 February 2024
Tangible assets
6,089
7,509
Cash at bank and in hand
22,855
67,570
Creditors: amounts falling due within one year
(2,131)
(37,371)
Net current assets
46,003
80,265
Called up share capital
100
100
Profit and loss account
51,992
87,674
Shareholders' funds
52,092
87,774
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 November 2024 and were signed on its behalf by
S G Hellyer
Director
Company Registration No. 13221278
SG Hellyer Ltd
Notes to the Accounts
for the year ended 29 February 2024
SG Hellyer Ltd is a private company, limited by shares, registered in England and Wales, registration number 13221278. The registered office is First Floor, 129 High Street, Guildford, Surrey, GU1 3AA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% reducing balance
Fixtures & fittings
4 years straight line
Computer equipment
4 years straight line
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
SG Hellyer Ltd
Notes to the Accounts
for the year ended 29 February 2024
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the director has made the following judgements:
Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
Tangible fixed assets (note 4)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
7,800
-
1,703
9,503
At 29 February 2024
7,800
284
1,703
9,787
At 1 March 2023
1,765
-
229
1,994
Charge for the year
1,207
71
426
1,704
At 29 February 2024
2,972
71
655
3,698
At 29 February 2024
4,828
213
1,048
6,089
At 28 February 2023
6,035
-
1,474
7,509
Amounts falling due within one year
Trade debtors
3,299
17,335
Other debtors
21,980
32,731
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,111
31,841
Loans from directors
822
448
SG Hellyer Ltd
Notes to the Accounts
for the year ended 29 February 2024
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).