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REGISTERED NUMBER: 10836944 (England and Wales)









SGS EQUIPMENT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SGS EQUIPMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: G Hunter





REGISTERED OFFICE: Unit 7 Bridge Industries
Broadcut
Fareham
Hampshire
PO16 8SX





REGISTERED NUMBER: 10836944 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 415,335 338,387

CURRENT ASSETS
Stocks 8,750 8,750
Debtors 5 301,738 318,792
Cash at bank and in hand 165,673 71,191
476,161 398,733
CREDITORS
Amounts falling due within one year 6 337,727 309,336
NET CURRENT ASSETS 138,434 89,397
TOTAL ASSETS LESS CURRENT
LIABILITIES

553,769

427,784

CREDITORS
Amounts falling due after more than one
year

7

(37,302

)

(63,355

)

PROVISIONS FOR LIABILITIES 9 (71,663 ) (52,427 )
NET ASSETS 444,804 312,002

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 444,803 312,001
SHAREHOLDERS' FUNDS 444,804 312,002

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 March 2025 and were signed by:





G Hunter - Director


SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

SGS Equipment Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales of goods and services provided during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 128,680 235,818 286
Additions - 133,599 -
Disposals - (15,198 ) -
At 30 June 2024 128,680 354,219 286
DEPRECIATION
At 1 July 2023 - 83,575 164
Charge for year - 27,620 30
Eliminated on disposal - (5,555 ) -
At 30 June 2024 - 105,640 194
NET BOOK VALUE
At 30 June 2024 128,680 248,579 92
At 30 June 2023 128,680 152,243 122

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 96,207 4,735 465,726
Additions - - 133,599
Disposals (20,808 ) - (36,006 )
At 30 June 2024 75,399 4,735 563,319
DEPRECIATION
At 1 July 2023 39,925 3,675 127,339
Charge for year 12,424 350 40,424
Eliminated on disposal (14,224 ) - (19,779 )
At 30 June 2024 38,125 4,025 147,984
NET BOOK VALUE
At 30 June 2024 37,274 710 415,335
At 30 June 2023 56,282 1,060 338,387

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 93,509
Disposals (20,359 )
At 30 June 2024 73,150
DEPRECIATION
At 1 July 2023 38,634
Charge for year 12,108
Eliminated on disposal (13,917 )
At 30 June 2024 36,825
NET BOOK VALUE
At 30 June 2024 36,325
At 30 June 2023 54,875

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 108,614 118,158
Other debtors 193,124 200,634
301,738 318,792

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 18,924 27,452
Trade creditors 53,419 19,841
Amounts owed to group undertakings 158,827 164,527
Taxation and social security 73,892 64,943
Other creditors 32,665 32,573
337,727 309,336

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 31,368 50,038
Other creditors 5,934 13,317
37,302 63,355

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 50,292 77,490

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 71,663 52,427

Deferred
tax
£   
Balance at 1 July 2023 52,427
Accelerated capital allowances 19,236
Balance at 30 June 2024 71,663

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

SGS EQUIPMENT LTD (REGISTERED NUMBER: 10836944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
G Hunter
Balance outstanding at start of year 153,829 173,733
Amounts advanced 31,873 34,708
Amounts repaid (39,592 ) (54,612 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 146,110 153,829

12. RELATED PARTY DISCLOSURES

During the year the company incurred rent of 2024: £33,500 (2023: £26,000) on premises of which 100% is owned by the director.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is G Hunter.