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Registration number: 04768101

SGB Construction (York) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

SGB Construction (York) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

SGB Construction (York) Ltd

Company Information

Director

Mr S G Gunn

Company secretary

Mr E J Gunn

Registered office

Redlands
York Road
Shiptonthorpe
York
YO43 3PH

Accountants

DAH Accountancy Services Limited
Chartered Management AccountantsCedar Lodge
York Road
Shiptonthorpe
York
East Yorkshire
YO43 3PH

 

SGB Construction (York) Ltd

(Registration number: 04768101)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

277,781

282,052

Current assets

 

Stocks

5

1,000

1,000

Debtors

6

185,035

146,423

Cash at bank and in hand

 

78,734

77,750

 

264,769

225,173

Creditors: Amounts falling due within one year

7

(108,365)

(119,883)

Net current assets

 

156,404

105,290

Total assets less current liabilities

 

434,185

387,342

Creditors: Amounts falling due after more than one year

7

-

(4,033)

Net assets

 

434,185

383,309

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

434,085

383,209

Shareholders' funds

 

434,185

383,309

For the financial year ending 31 August 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 his 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 April 2025
 

.........................................
Mr S G Gunn
Director

 

SGB Construction (York) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
Redlands
York Road
Shiptonthorpe
York
YO43 3PH

These financial statements were authorised for issue by the director on 24 April 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.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

SGB Construction (York) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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.

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

Plant and machinery

20% reducing balance

Furniture and fittings

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33% on cost

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.

 

SGB Construction (York) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Borrowings

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 are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 9 (2023 - 9).

 

SGB Construction (York) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

343,969

77,665

421,634

Additions

19,501

62,213

81,714

Disposals

(25,520)

(19,485)

(45,005)

At 31 August 2024

337,950

120,393

458,343

Depreciation

At 1 September 2023

96,589

42,993

139,582

Charge for the year

50,721

13,623

64,344

Eliminated on disposal

(15,167)

(8,197)

(23,364)

At 31 August 2024

132,143

48,419

180,562

Carrying amount

At 31 August 2024

205,807

71,974

277,781

At 31 August 2023

247,380

34,672

282,052

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

1,000

1,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

92,385

51,723

Amounts owed by related parties

11

88,220

87,220

Prepayments

 

4,430

7,480

   

185,035

146,423

 

SGB Construction (York) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,075

30,639

Trade creditors

 

27,250

42,556

Taxation and social security

 

51,240

3,672

Accruals and deferred income

 

-

13

Other creditors

 

24,800

43,003

 

108,365

119,883


Creditors include net obligations under hire purchase contracts which are secured of £5,075 (2023 - £30,639).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

4,033


Creditors include net obligations under hire purchase contracts which are secured of £0 (2023 - £4,033).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

SGB Construction (York) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

4,033

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

5,075

30,639

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £350.00 (2023 - £400.00) per each Ordinary

35,000

40,000

 

 

11

Related party transactions

Mr SG Gunn, the director and shareholder, had a loan with the company that remained in credit throughout the year. Interest has not been charged on the loan.

The company paid rent of £2,400 (2023: - £2,400) to Mr SG Gunn, the director and shareholder during the year.

Director's remuneration

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

2024
£

2023
£

Remuneration

12,600

9,952

Dividends paid to the director

2024
£

2023
£

Mr S G Gunn

Dividends

35,000

40,000

 

 

 

SGB Construction (York) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Summary of transactions with other related parties


SGB Developments (York) Ltd is a company registered in England number 13161885.
Mr SG Gunn, the director and shareholder, is a director and shareholder of SGB Developments (York) Ltd.

A loan was made to SGB Developments (York) Ltd. The loan is repayable on demand and interest has been charged at the rate of 4% per annum.

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

87,220

87,220

At end of period

87,220

87,220

2023

Other related parties
£

Total
£

At start of period

87,220

87,220

At end of period

87,220

87,220