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Company Registration No. 6251080 (England and Wales)
SGM MACHINERY LTD unaudited financial statements for the year ended 30 November 2023
SGM MACHINERY LTD unaudited financial statements Contents
Page
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SGM MACHINERY LTD Company Information for the year ended 30 November 2023
Director
Mohammed Abdul Hayyee Yaqub
Company Number
6251080 (England and Wales)
Registered Office
21 HYDE PARK ROAD LEEDS LS6 1PY ENGLAND
Accountants
HLA Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of SGM MACHINERY LTD for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SGM MACHINERY LTD for the year ended 30 November 2023 as set out on pages 5 - 7 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
HLA Accountants Chartered Certified Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY 29 November 2024
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SGM MACHINERY LTD Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,090 
2,612 
Current assets
Inventories
2,630 
7,580 
Debtors
10,535 
364 
Cash at bank and in hand
45,055 
22,751 
58,220 
30,695 
Creditors: amounts falling due within one year
(24,396)
- 
Net current assets
33,824 
30,695 
Total assets less current liabilities
35,914 
33,307 
Creditors: amounts falling due after more than one year
(27,872)
(38,564)
Net assets/(liabilities)
8,042 
(5,257)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
8,041 
(5,258)
Shareholders' funds
8,042 
(5,257)
For the year ending 30 November 2023 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 29 November 2024 and were signed on its behalf by
Mohammed Abdul Hayyee Yaqub Director Company Registration No. 6251080
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SGM MACHINERY LTD Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
SGM MACHINERY LTD is a private company, limited by shares, registered in England and Wales, registration number 6251080. The registered office is 21 HYDE PARK ROAD, LEEDS, LS6 1PY, ENGLAND.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants- Covid -19
Government grants in relation to job retention scheme are credited to profit and loss account , whereas those in relation to expenditure are charged to profit and loss. Also, local council grants are received in terms of Covid-19 pandemic are credit to profit and loss account under other operating expenses, whereas all fixed cost against these are debited in the profit and loss account too.
Trading activity
Import, export and domestic sales of high value printing machines
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:
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SGM MACHINERY LTD Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Motor vehicles 
£ 
Cost or valuation
At cost 
At 1 December 2022
4,080 
At 30 November 2023
4,080 
Depreciation
At 1 December 2022
1,468 
Charge for the year
522 
At 30 November 2023
1,990 
Net book value
At 30 November 2023
2,090 
At 30 November 2022
2,612 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
5,030 
364 
Other debtors
5,505 
- 
10,535 
364 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
1,396 
- 
Loans from directors
23,000 
- 
24,396 
- 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
27,872 
38,564 
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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