Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-31trueWholesale of office furniturefalsefalse2023-11-0122The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14401490 2023-11-01 2024-10-31 14401490 2022-10-06 2023-10-31 14401490 2024-10-31 14401490 2023-10-31 14401490 c:Director1 2023-11-01 2024-10-31 14401490 d:CurrentFinancialInstruments 2024-10-31 14401490 d:CurrentFinancialInstruments 2023-10-31 14401490 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 14401490 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 14401490 d:ShareCapital 2024-10-31 14401490 d:ShareCapital 2023-10-31 14401490 d:RetainedEarningsAccumulatedLosses 2024-10-31 14401490 d:RetainedEarningsAccumulatedLosses 2023-10-31 14401490 c:OrdinaryShareClass1 2023-11-01 2024-10-31 14401490 c:OrdinaryShareClass1 2024-10-31 14401490 c:FRS102 2023-11-01 2024-10-31 14401490 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 14401490 c:FullAccounts 2023-11-01 2024-10-31 14401490 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 14401490 e:PoundSterling 2023-11-01 2024-10-31 14401490 d:EntityControlledByKeyManagementPersonnel1 2023-11-01 2024-10-31 14401490 d:EntityControlledByKeyManagementPersonnel1 2024-10-31 14401490 d:EntityControlledByKeyManagementPersonnel2 2023-11-01 2024-10-31 14401490 d:EntityControlledByKeyManagementPersonnel2 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14401490









SBS GRP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
SBS GRP LIMITED
REGISTERED NUMBER: 14401490

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024


2024

2023
Note
£
£
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
114,735
205,640

Cash at bank and in hand
 5 
2,601
3,324

  
117,336
208,964

Creditors: amounts falling due within one year
 6 
(143,220)
(195,651)

Net current (liabilities)/assets
  
 
 
(25,884)
 
 
13,313

  

Net (liabilities)/assets
  
(25,884)
13,313


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(25,984)
13,213

  
(25,884)
13,313


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 July 2025.




J Graham
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
SBS GRP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

SBS GRP Limited is a company limited by shares, incorporated in England and Wales. The address of the
registered office is 3 Brook Business Centre, Cowley Mill Road, Cowley, Uxbridge, UB8 2FX.
The company specialises in wholesale of office furniture.                                

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a going concern basis, despite the Statement of financial position showing net current liabilities of £25,884 (2023 - 13,313 net current assets). The director has indicated his willingness to continue providing financial support to the company to ensure that the company has sufficient current assets to meet its liabilities as they fall due for a period of at least one year from the date of approval of the financial statements. As a result, the director believes that the preparation of the financial statements on a going concern basis is appropriate.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 2

 
SBS GRP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Taxation

Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
SBS GRP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (period ended 31 October 2023 - 2).


4.


Debtors

2024
2023
£
£


Other debtors
114,735
15,640

Prepayments and accrued income
-
190,000

114,735
205,640



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,601
3,324

2,601
3,324


Page 4

 
SBS GRP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
3,290
3,099

Other taxation and social security
64,430
4,162

Other creditors
-
115,390

Accruals and deferred income
75,500
73,000

143,220
195,651



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



8.


Related party transactions

Included within other debtors is an amount of £76,397 (2023 - £115,390 due to) due from a company under common control.

Included within other debtors is an amount of £26,800 (2023 - £7,000) due from a company under common control.


9.


Controlling party

The controlling party of the company is its director by virtue of his 100% shareholding.

 
Page 5