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SGM PLASTERING & PRESERVATION LTD

Registered Number
14005670
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

SGM PLASTERING & PRESERVATION LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

MARTIN, Steven Graham
MARTIN, Victoria

Registered Address

8 Coronation Street
Blyth
NE24 2HU

Registered Number

14005670 (England and Wales)
SGM PLASTERING & PRESERVATION LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets311,3633,800
11,3633,800
Current assets
Debtors41,0001,138
Cash at bank and on hand219778
1,2191,916
Creditors amounts falling due within one year5(12,270)(1,620)
Net current assets (liabilities)(11,051)296
Total assets less current liabilities3124,096
Net assets3124,096
Capital and reserves
Profit and loss account3124,096
Shareholders' funds3124,096
The financial statements were approved and authorised for issue by the Board of Directors on 22 January 2025, and are signed on its behalf by:
MARTIN, Steven Graham
Director
Registered Company No. 14005670
SGM PLASTERING & PRESERVATION 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.
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 (%)
Plant and machinery20
Vehicles25
2.Average number of employees

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

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 April 231,0004,0005,000
Additions10,591-10,591
At 31 March 2411,5914,00015,591
Depreciation and impairment
At 01 April 232001,0001,200
Charge for year2,2787503,028
At 31 March 242,4781,7504,228
Net book value
At 31 March 249,1132,25011,363
At 31 March 238003,0003,800
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,0001,000
Other debtors-138
Total1,0001,138
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables310-
Bank borrowings and overdrafts12,3971,320
Taxation and social security(437)-
Accrued liabilities and deferred income-300
Total12,2701,620