Silverfin false false 31/12/2024 01/01/2024 31/12/2024 A Brennan 01/11/2018 A Knott 01/10/2013 M Reynell 01/10/2013 J Sharman 01/06/2008 05 March 2025 The principal activity of the Company during the financial year is that of chartered surveyors 04109056 2024-12-31 04109056 bus:Director1 2024-12-31 04109056 bus:Director2 2024-12-31 04109056 bus:Director3 2024-12-31 04109056 bus:Director4 2024-12-31 04109056 2023-12-31 04109056 core:CurrentFinancialInstruments 2024-12-31 04109056 core:CurrentFinancialInstruments 2023-12-31 04109056 core:ShareCapital 2024-12-31 04109056 core:ShareCapital 2023-12-31 04109056 core:CapitalRedemptionReserve 2024-12-31 04109056 core:CapitalRedemptionReserve 2023-12-31 04109056 core:OtherCapitalReserve 2024-12-31 04109056 core:OtherCapitalReserve 2023-12-31 04109056 core:RetainedEarningsAccumulatedLosses 2024-12-31 04109056 core:RetainedEarningsAccumulatedLosses 2023-12-31 04109056 core:FurnitureFittings 2023-12-31 04109056 core:OfficeEquipment 2023-12-31 04109056 core:FurnitureFittings 2024-12-31 04109056 core:OfficeEquipment 2024-12-31 04109056 2024-01-01 2024-12-31 04109056 bus:FilletedAccounts 2024-01-01 2024-12-31 04109056 bus:SmallEntities 2024-01-01 2024-12-31 04109056 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04109056 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04109056 bus:Director1 2024-01-01 2024-12-31 04109056 bus:Director2 2024-01-01 2024-12-31 04109056 bus:Director3 2024-01-01 2024-12-31 04109056 bus:Director4 2024-01-01 2024-12-31 04109056 core:Goodwill core:TopRangeValue 2024-01-01 2024-12-31 04109056 core:FurnitureFittings 2024-01-01 2024-12-31 04109056 core:OfficeEquipment core:TopRangeValue 2024-01-01 2024-12-31 04109056 2023-01-01 2023-12-31 04109056 core:OfficeEquipment 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Company No: 04109056 (England and Wales)

SIBBETT GREGORY WRIGHT & COLES LTD.

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

SIBBETT GREGORY WRIGHT & COLES LTD.

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SIBBETT GREGORY WRIGHT & COLES LTD.

BALANCE SHEET

As at 31 December 2024
SIBBETT GREGORY WRIGHT & COLES LTD.

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 13,647 10,397
13,647 10,397
Current assets
Stocks 4 55,447 40,301
Debtors 5 125,090 68,707
Cash at bank and in hand 237,383 223,323
417,920 332,331
Creditors: amounts falling due within one year 6 ( 101,972) ( 64,501)
Net current assets 315,948 267,830
Total assets less current liabilities 329,595 278,227
Net assets 329,595 278,227
Capital and reserves
Called-up share capital 1 1
Capital redemption reserve 2 2
Other reserves 81 81
Profit and loss account 329,511 278,143
Total shareholders' funds 329,595 278,227

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sibbett Gregory Wright & Coles Ltd. (registered number: 04109056) were approved and authorised for issue by the Board of Directors on 05 March 2025. They were signed on its behalf by:

M Reynell
Director
SIBBETT GREGORY WRIGHT & COLES LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SIBBETT GREGORY WRIGHT & COLES LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sibbett Gregory Wright & Coles Ltd. (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 6 Winchester Place, North Street, Poole, Dorset, BH15 1NX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 10 11

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 January 2024 23,989 30,334 54,323
Additions 11,168 1,323 12,491
Disposals ( 16,816) ( 6,638) ( 23,454)
At 31 December 2024 18,341 25,019 43,360
Accumulated depreciation
At 01 January 2024 16,102 27,824 43,926
Charge for the financial year 2,143 1,355 3,498
Disposals ( 11,079) ( 6,632) ( 17,711)
At 31 December 2024 7,166 22,547 29,713
Net book value
At 31 December 2024 11,175 2,472 13,647
At 31 December 2023 7,887 2,510 10,397

4. Stocks

2024 2023
£ £
Work in progress 55,447 40,301

5. Debtors

2024 2023
£ £
Trade debtors 121,287 65,168
Prepayments 3,654 3,539
Other debtors 149 0
125,090 68,707

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 12,967 4,357
Accruals 14,173 6,360
Corporation tax 19,654 1,603
Other taxation and social security 54,105 51,136
Other creditors 1,073 1,045
101,972 64,501

7. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 107,953 0
2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 107,953 0