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Registration number: 11681371

SBG Suffolk Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

SBG Suffolk Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 11

 

SBG Suffolk Limited

Company Information

Director

Gavin Sahota

Registered office

Epsilon House West Road
Ransomes Industrial Estate
Ipswich
IP3 9FJ

Accountants

Milton Accountants Ltd
863 High Street
Ilford
IG3 8TG

 

SBG Suffolk Limited

Director's Report for the Year Ended 30 November 2024

The report and the financial statements for the year ended 30 November 2024.

Director of the company

The director who held office during the year was as follows:

Gavin Sahota

Principal activity

The principal activity of the company is Unlicensed restaurants and cafes

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 January 2025
 

.........................................
Gavin Sahota
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SBG Suffolk Limited
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SBG Suffolk Limited for the year ended 30 November 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that SBG Suffolk Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SBG Suffolk Limited. You consider that SBG Suffolk Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SBG Suffolk Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Milton Accountants Ltd
863 High Street
Ilford
IG3 8TG

31 January 2025

 

SBG Suffolk Limited

(Registration number: 11681371)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

61,953

72,684

Tangible assets

6

513,422

596,792

 

575,375

669,476

Current assets

 

Stocks

7

30,768

26,292

Debtors

8

1,100,984

1,113,295

Cash at bank and in hand

 

417,175

34,454

 

1,548,927

1,174,041

Creditors: Amounts falling due within one year

9

(278,693)

(477,458)

Net current assets

 

1,270,234

696,583

Total assets less current liabilities

 

1,845,609

1,366,059

Creditors: Amounts falling due after more than one year

9

(1,561,379)

(1,392,394)

Net assets/(liabilities)

 

284,230

(26,335)

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

284,130

(26,435)

Shareholders' funds/(deficit)

 

284,230

(26,335)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 January 2025
 

.........................................
Gavin Sahota
Director

 

SBG Suffolk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Epsilon House West Road
Ransomes Industrial Estate
Ipswich
IP3 9FJ
England

These financial statements were authorised for issue by the director on 31 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

SBG Suffolk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.33% straight line

Furniture and Fittings

10% Reducing Balance Method

Motor Vehicle

20% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other Intangible assets

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

SBG Suffolk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 76 (2023 - 85).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

67,955

154,971

Amortisation expense

10,731

17,315

 

SBG Suffolk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 December 2023

107,316

107,316

At 30 November 2024

107,316

107,316

Amortisation

At 1 December 2023

34,632

34,632

Amortisation charge

10,731

10,731

At 30 November 2024

45,363

45,363

Carrying amount

At 30 November 2024

61,953

61,953

At 30 November 2023

72,684

72,684

6

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

1,582,025

6,202

66,474

1,654,701

At 30 November 2024

1,582,025

6,202

66,474

1,654,701

Depreciation

At 1 December 2023

1,035,427

6,202

31,695

1,073,324

Charge for the year

54,660

-

13,295

67,955

At 30 November 2024

1,090,087

6,202

44,990

1,141,279

Carrying amount

At 30 November 2024

491,938

-

21,484

513,422

At 30 November 2023

562,013

-

34,779

596,792

7

Stocks

2024
£

2023
£

Other inventories

30,768

26,292

 

SBG Suffolk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

8

Debtors

Current

2024
£

2023
£

Trade debtors

-

7,228

Prepayments

16,872

32,402

Other debtors

1,084,112

1,073,665

 

1,100,984

1,113,295

 

SBG Suffolk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

123,818

155,547

Taxation and social security

142,438

302,748

Accruals and deferred income

10,480

17,446

Other creditors

1,957

1,717

278,693

477,458

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

385,323

285,425

Other non-current financial liabilities

 

1,176,056

1,106,969

 

1,561,379

1,392,394

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

385,323

285,425

12

Related party transactions

 

SBG Suffolk Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

19,166

18,000