SJG Developments Limited 05772057 false 2024-04-06 2025-04-05 2025-04-05 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true true 05772057 2024-04-06 2025-04-05 05772057 2025-04-05 05772057 core:RetainedEarningsAccumulatedLosses 2025-04-05 05772057 core:ShareCapital 2025-04-05 05772057 core:CurrentFinancialInstruments core:WithinOneYear 2025-04-05 05772057 core:Non-currentFinancialInstruments 2025-04-05 05772057 core:Non-currentFinancialInstruments core:AfterOneYear 2025-04-05 05772057 bus:SmallEntities 2024-04-06 2025-04-05 05772057 bus:AuditExemptWithAccountantsReport 2024-04-06 2025-04-05 05772057 bus:FilletedAccounts 2024-04-06 2025-04-05 05772057 bus:SmallCompaniesRegimeForAccounts 2024-04-06 2025-04-05 05772057 bus:RegisteredOffice 2024-04-06 2025-04-05 05772057 bus:Director2 2024-04-06 2025-04-05 05772057 bus:PrivateLimitedCompanyLtd 2024-04-06 2025-04-05 05772057 countries:EnglandWales 2024-04-06 2025-04-05 05772057 2024-04-05 05772057 2023-04-06 2024-04-05 05772057 2024-04-05 05772057 core:RetainedEarningsAccumulatedLosses 2024-04-05 05772057 core:ShareCapital 2024-04-05 05772057 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-05 05772057 core:Non-currentFinancialInstruments 2024-04-05 05772057 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-05 iso4217:GBP xbrli:pure

Registration number: 05772057

SJG Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 5 April 2025

 

SJG Developments Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 4

 

SJG Developments Limited

(Registration number: 05772057)
Balance Sheet as at 5 April 2025

Note

2025
£

2024
£

Fixed assets

 

Investment property

4

63,103

63,103

Current assets

 

Cash at bank and in hand

 

23

8

Creditors: Amounts falling due within one year

5

(2,703)

(2,111)

Net current liabilities

 

(2,680)

(2,103)

Total assets less current liabilities

 

60,423

61,000

Creditors: Amounts falling due after more than one year

5

(64,371)

(64,371)

Net liabilities

 

(3,948)

(3,371)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(3,949)

(3,372)

Shareholders' deficit

 

(3,948)

(3,371)

For the financial year ending 5 April 2025 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 12 June 2025
 

.........................................
S J Gavin
Director

 

SJG Developments Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

1

General information

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

The address of its registered office is:
2 Torver Close
Burnley
Lancashire
BB12 8UH
England

These financial statements were authorised for issue by the director on 12 June 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

SJG Developments Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

SJG Developments Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

4

Investment properties

2025
£

At 6 April

63,103

At 5 April

63,103

There has been no valuation of investment property by an independent valuer.

5

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Accruals and deferred income

580

480

Other creditors

2,123

1,631

2,703

2,111

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

6

64,371

64,371


Creditors include interest only mortgage which is secured against the company's property.

6

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

64,371

64,371

Loan includes interest only mortgage which is secured against the company's property.