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SXG WEST LONDON LIMITED

Registered Number
11954802
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

SXG WEST LONDON LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

WANG, Qian

Registered Address

10-12 Goldhawk Road
London
W12 8DH

Registered Number

11954802 (England and Wales)
SXG WEST LONDON LIMITED
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets50,26760,922
Tangible assets30,63045,947
80,897106,869
Current assets
Stocks319,51119,511
Debtors25,00225,736
Cash at bank and on hand2907,188
44,80352,435
Creditors amounts falling due within one year4(257,628)(238,727)
Net current assets (liabilities)(212,825)(186,292)
Total assets less current liabilities(131,928)(79,423)
Net assets(131,928)(79,423)
Capital and reserves
Called up share capital100100
Profit and loss account(132,028)(79,523)
Shareholders' funds(131,928)(79,423)
The financial statements were approved and authorised for issue by the Director on 30 January 2025, and are signed on its behalf by:
WANG, Qian
Director
Registered Company No. 11954802
SXG WEST LONDON LIMITED
Notes to the Financial Statements
for the year ended 30 April 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 compliance with FRS 102 Section 1A, as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount. Any tangible assets carried at a revalued amount 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. However, the increase is recognised in profit or loss to the extent that 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 revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year44
3.Stocks

2024

2023

££
Other stocks19,51119,511
Total19,51119,511
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables30,0906,398
Bank borrowings and overdrafts191,444199,815
Taxation and social security19,55726,664
Other creditors12,848-
Accrued liabilities and deferred income3,6895,850
Total257,628238,727
5.Creditors: amounts due after one year