SCG Engineering Limited 30/09/2024 iXBRL

Company registration number: 12868789

SCG Engineering Limited

Unaudited filleted financial statements

30 September 2024

SCG Engineering Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

SCG Engineering Limited

Directors and other information


	Directors	Shaun Collinson
		Lee Guy
		Thomas Slater


	Company number	12868789


	Registered office	Unit A9 Link One Industrial Estate
		George Henry Road
		Tipton
		West Midlands
		DY4 7BU


	Business address	Unit A9 Link One Industrial Estate
		George Henry Road
		Tipton
		West Midlands
		DY4 7BU


	Accountants	Lindley & Co
		Suite 4 Europa House
		Europa Way
		Lichfield
		Staffordshire
		WS14 9TZ

SCG Engineering Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of SCG Engineering Limited

Year ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SCG Engineering Limited for the year ended 30 September 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.

This report is made solely to the board of directors of SCG Engineering Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of SCG Engineering Limited and state those matters that we have agreed to state to the board of directors of SCG Engineering Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SCG Engineering Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that SCG Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SCG Engineering Limited. You consider that SCG Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SCG Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lindley & Co

Chartered Certified Accountants

Suite 4 Europa House

Europa Way

Lichfield

Staffordshire

WS14 9TZ

6 March 2025

SCG Engineering Limited

Statement of financial position

30 September 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	331,419		302,377
Investments	6	322,197		-
		_______		_______
			653,616		302,377

Current assets
Stocks		571,294		561,002
Debtors	7	686,636		627,490
Cash at bank and in hand		1,079,708		1,036,582
		_______		_______
		2,337,638		2,225,074
Creditors: amounts falling due
within one year	8	( 1,223,496)		( 1,260,875)
		_______		_______
Net current assets			1,114,142		964,199
			_______		_______
Total assets less current liabilities			1,767,758		1,266,576

Creditors: amounts falling due
after more than one year	9		( 81,944)		( 109,009)

Provisions for liabilities			( 57,778)		( 51,767)

			_______		_______
Net assets			1,628,036		1,105,800
			_______		_______

Capital and reserves
Called up share capital			400		3
Profit and loss account			1,627,636		1,105,797
			_______		_______
Shareholders funds			1,628,036		1,105,800
			_______		_______

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 06 March 2025 , and are signed on behalf of the board by:

Shaun Collinson

Director

Company registration number: 12868789

SCG Engineering Limited

Notes to the financial statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is SCG Engineering Limited, Unit A9 Link One Industrial Estate, George Henry Road, Tipton, West Midlands, DY4 7BU.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	33 %	straight line
Motor vehicles	-	20 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2023: 11 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 1 October 2023	124,676	16,092	200,339	341,107
Additions	95,965	3,775	1,250	100,990
	_______	_______	_______	_______
At 30 September 2024	220,641	19,867	201,589	442,097
	_______	_______	_______	_______
Depreciation
At 1 October 2023	29,099	2,937	6,694	38,730
Charge for the year	25,008	6,622	40,318	71,948
	_______	_______	_______	_______
At 30 September 2024	54,107	9,559	47,012	110,678
	_______	_______	_______	_______
Carrying amount
At 30 September 2024	166,534	10,308	154,577	331,419
	_______	_______	_______	_______
At 30 September 2023	95,577	13,155	193,645	302,377
	_______	_______	_______	_______

6. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 October 2023	-	-
Additions	322,197	322,197
	_______	_______
At 30 September 2024	322,197	322,197
	_______	_______
Impairment
At 1 October 2023 and 30 September 2024	-	-
	_______	_______
Carrying amount
At 30 September 2024	322,197	322,197
	_______	_______
At 30 September 2023	-	-
	_______	_______

7. Debtors

	2024	2023
	£	£
Trade debtors	668,239	609,490
Other debtors	18,397	18,000
	_______	_______
	686,636	627,490
	_______	_______

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	838,106	931,207
Corporation tax	232,783	158,917
Social security and other taxes	48,371	31,651
Other creditors	104,236	139,100
	_______	_______
	1,223,496	1,260,875
	_______	_______

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	81,944	109,009
	_______	_______

10. Related party transactions

At the balance sheet date there were loans from the directors of £17,570 (2023 £74,624). The loans are interest free and repayable on demand.

11. Controlling party

The company is controlled by the directors who own 75% of the issued share capital.