Registered number
01188375
Segment Engineering Limited
Unaudited Filleted Accounts
31 March 2024
Segment Engineering Limited
Registered number: 01188375
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,669,818 2,613,527
Investments 4 495 495
2,670,313 2,614,022
Current assets
Stocks 5,000 10,500
Debtors 5 59,201 86,793
Cash at bank and in hand 1,103,069 280,857
1,167,270 378,150
Creditors: amounts falling due within one year 6 (248,056) (142,332)
Net current assets 919,214 235,818
Total assets less current liabilities 3,589,527 2,849,840
Provisions for liabilities (340,789) (340,789)
Net assets 3,248,738 2,509,051
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 1,645,695 1,645,695
Profit and loss account 1,602,943 863,256
Shareholders' funds 3,248,738 2,509,051
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J. A Gardner
Director
Approved by the board on 11 October 2024
Segment Engineering Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increases accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect oof that asset, the excess shall be recognised in profit and loss.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 2,506,218 281,473 32,532 2,820,223
Additions - 49,057 63,844 112,901
Disposals - (28,195) (4,974) (33,169)
At 31 March 2024 2,506,218 302,335 91,402 2,899,955
Depreciation
At 1 April 2023 - 193,725 12,971 206,696
Charge for the year - 34,076 22,032 56,108
On disposals - (27,693) (4,974) (32,667)
At 31 March 2024 - 200,108 30,029 230,137
Net book value
At 31 March 2024 2,506,218 102,227 61,373 2,669,818
At 31 March 2023 2,506,218 87,748 19,561 2,613,527
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 495
At 31 March 2024 495
5 Debtors 2024 2023
£ £
Trade debtors 52,995 80,473
Prepayments 6,206 6,320
59,201 86,793
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,912 5,425
Taxation and social security costs 231,091 35,347
Other creditors 12,053 101,560
248,056 142,332
7 Revaluation reserve 2024 2023
£ £
At 1 April 2023 1,645,695 1,645,695
At 31 March 2024 1,645,695 1,645,695
8 Other information
Segment Engineering Limited is a private company limited by shares and incorporated in England. Its registered office is:
Galyers Yard
Needles Bank
Godstone
Surrey
RH9 8LN
Segment Engineering Limited 01188375 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 J. A Gardner No description of principal activity 01188375 2022-04-01 2023-03-31 01188375 core:WithinOneYear 2023-03-31 01188375 core:ShareCapital 2023-03-31 01188375 core:OtherReservesSubtotal 2023-03-31 01188375 core:RetainedEarningsAccumulatedLosses 2023-03-31 01188375 core:RevaluationReserve 2022-03-31 01188375 2023-04-01 2024-03-31 01188375 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01188375 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01188375 bus:Director40 2023-04-01 2024-03-31 01188375 1 2023-04-01 2024-03-31 01188375 2 2023-04-01 2024-03-31 01188375 core:LandBuildings 2023-04-01 2024-03-31 01188375 core:PlantMachinery 2023-04-01 2024-03-31 01188375 core:Vehicles 2023-04-01 2024-03-31 01188375 countries:England 2023-04-01 2024-03-31 01188375 bus:FRS102 2023-04-01 2024-03-31 01188375 bus:FilletedAccounts 2023-04-01 2024-03-31 01188375 2024-03-31 01188375 core:WithinOneYear 2024-03-31 01188375 core:ShareCapital 2024-03-31 01188375 core:OtherReservesSubtotal 2024-03-31 01188375 core:RetainedEarningsAccumulatedLosses 2024-03-31 01188375 core:LandBuildings 2024-03-31 01188375 core:PlantMachinery 2024-03-31 01188375 core:Vehicles 2024-03-31 01188375 core:RevaluationReserve 2024-03-31 01188375 2023-03-31 01188375 core:LandBuildings 2023-03-31 01188375 core:PlantMachinery 2023-03-31 01188375 core:Vehicles 2023-03-31 01188375 core:RevaluationReserve 2023-03-31 iso4217:GBP xbrli:pure