2023-04-012024-03-312024-03-31false12848219SGR AUDIO VISUAL 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SGR AUDIO VISUAL LTD

Registered Number
12848219
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

SGR AUDIO VISUAL LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Sam Alfie Rockley

Registered Address

Unit A Kensworth Industrial Estate
Common Road
Dunstable
LU6 2PN

Registered Number

12848219 (England and Wales)
SGR AUDIO VISUAL LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3120,514116,901
120,514116,901
Current assets
Debtors152,02975,568
Cash at bank and on hand43,532112,091
195,561187,659
Creditors amounts falling due within one year(104,801)(80,364)
Net current assets (liabilities)90,760107,295
Total assets less current liabilities211,274224,196
Creditors amounts falling due after one year(70)(65)
Net assets211,204224,131
Capital and reserves
Other reserves174,13160,920
Profit and loss account37,073163,211
Shareholders' funds211,204224,131
The financial statements were approved and authorised for issue by the Director on 20 December 2024, and are signed on its behalf by:
Sam Alfie Rockley
Director
Registered Company No. 12848219
SGR AUDIO VISUAL LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-10
Vehicles25-
Office Equipment-4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23154,364
Additions52,873
Disposals(4,050)
At 31 March 24203,187
Depreciation and impairment
At 01 April 2337,464
Charge for year45,505
On disposals(296)
At 31 March 2482,674
Net book value
At 31 March 24120,514
At 31 March 23116,901
4.Related party transactions
During the year, the company has entered into transactions with related parties. These transactions have been conducted on an arm's length basis on normal trading terms. The director of the company, Sam Rockley, is a controlling shareholder in SGR Audio Visual LTD and SGR Commercial LTD. As such, the transactions between these two entities, which include purchases and loan arrangements, are considered related party transactions. The following transactions occurred during the period: Purchases of £12,600 Loans provided of £13,290 (£3,449 2023) The following outstanding balances were held with related parties at the year-end: Payables owed of £1,440 Loans owed of £16,739