Registered number
11656905
S.A.G NORTH EAST LTD
Filleted Accounts
29 September 2024
S.A.G NORTH EAST LTD
Registered number: 11656905
Balance Sheet
as at 29 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,544 20,809
Current assets
Stocks - 13,000
Debtors 4 14,234 171
Cash at bank and in hand 393,265 167,235
407,499 180,406
Creditors: amounts falling due within one year 5 (80,616) (26,890)
Net current assets 326,883 153,516
Total assets less current liabilities 343,427 174,325
Provisions for liabilities (3,142) (3,631)
Net assets 340,285 170,694
Capital and reserves
Called up share capital 100 100
Profit and loss account 340,185 170,594
Shareholders' funds 340,285 170,694
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Gray
Director
Approved by the board on 15 April 2025
S.A.G NORTH EAST LTD
Notes to the Accounts
for the year ended 29 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets as follows:
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
Stocks
Work in progress is measured at the estimated selling price.The carrying amount of work in progress is recognised in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 30 September 2023 1,108 36,863 37,971
Additions 508 - 508
At 29 September 2024 1,616 36,863 38,479
Depreciation
At 30 September 2023 458 16,704 17,162
Charge for the year 157 4,616 4,773
At 29 September 2024 615 21,320 21,935
Net book value
At 29 September 2024 1,001 15,543 16,544
At 29 September 2023 650 20,159 20,809
4 Debtors 2024 2023
£ £
Other debtors 14,234 171
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 492 710
Taxation and social security costs 79,238 26,070
Other creditors 886 110
80,616 26,890
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Stephen Anthony Gray
Directors loan account 110 (65,783) 66,559 886
110 (65,783) 66,559 886
7 Other information
S.A.G NORTH EAST LTD is a private company limited by shares and incorporated in England. Its registered office is:
4 High Street
Stanley
Co Durham
DH9 0DQ
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