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Registered number: 05669432
Southgate International Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
LJT Accountancy Services
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05669432
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 2,986
- 2,986
CURRENT ASSETS
Debtors 5 - 15,264
Cash at bank and in hand 85,685 99,951
85,685 115,215
Creditors: Amounts Falling Due Within One Year 6 (227 ) (17,453 )
NET CURRENT ASSETS (LIABILITIES) 85,458 97,762
TOTAL ASSETS LESS CURRENT LIABILITIES 85,458 100,748
NET ASSETS 85,458 100,748
CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Profit and Loss Account 84,458 99,748
SHAREHOLDERS' FUNDS 85,458 100,748
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For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Mary Cox
Director
12 June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Southgate International Limited Registered number 05669432 is a limited by shares company incorporated in England & Wales. The Registered Office is 124 Church Way, Pagham, Bognor Regis, West Sussex, PO24 4RA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Going Concern Disclosure
No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the director.
2.3. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20%
Fixtures & Fittings 20%
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 2
1 2
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 6,780 2,950 9,730
Disposals (6,780 ) (2,950 ) (9,730 )
As at 31 December 2024 - - -
Depreciation
As at 1 January 2024 5,044 1,700 6,744
Provided during the period 347 290 637
Disposals (5,391 ) (1,990 ) (7,381 )
As at 31 December 2024 - - -
Net Book Value
As at 31 December 2024 - - -
As at 1 January 2024 1,736 1,250 2,986
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 15,264
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,459
Other taxes and social security - 782
VAT 227 2,595
Other creditors - 12,617
227 17,453
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7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
8. Directors Advances, Credits and Guarantees
Dividends paid to directors
9. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid - 30,000
10. Ultimate Controlling Party
The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.
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