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Company Registration No. SC708156 (Scotland)
S.G.C. Customs Ltd Unaudited accounts for the year ended 31 August 2024
S.G.C. Customs Ltd Unaudited accounts Contents
Page
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S.G.C. Customs Ltd Company Information for the year ended 31 August 2024
Director
Samuel George Cornish
Company Number
SC708156 (Scotland)
Registered Office
19 Abbey Road Dalkeith EH22 3AD Scotland
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S.G.C. Customs Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
15,717 
15,313 
Current assets
Debtors
10,813 
6,956 
Cash at bank and in hand
3,044 
1,393 
13,857 
8,349 
Creditors: amounts falling due within one year
(28,259)
(23,000)
Net current liabilities
(14,402)
(14,651)
Total assets less current liabilities
1,315 
662 
Provisions for liabilities
Deferred tax
(2,986)
(2,910)
Net liabilities
(1,671)
(2,248)
Capital and reserves
Called up share capital
100 
1 
Share premium
9,975 
- 
Profit and loss account
(11,746)
(2,249)
Shareholders' funds
(1,671)
(2,248)
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 August 2025 and were signed on its behalf by
Samuel George Cornish Director Company Registration No. SC708156
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S.G.C. Customs Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
S.G.C. Customs Ltd is a private company, limited by shares, registered in Scotland, registration number SC708156. The registered office is 19 Abbey Road, Dalkeith, EH22 3AD, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
5 years straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Going concern
At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next twelve months, and the availability of working capital, the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.
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S.G.C. Customs Ltd Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
- 
23,700 
23,700 
Additions
11,600 
2,330 
13,930 
Disposals
- 
(15,000)
(15,000)
At 31 August 2024
11,600 
11,030 
22,630 
Depreciation
At 1 September 2023
- 
8,387 
8,387 
Charge for the year
2,320 
2,206 
4,526 
On disposals
- 
(6,000)
(6,000)
At 31 August 2024
2,320 
4,593 
6,913 
Net book value
At 31 August 2024
9,280 
6,437 
15,717 
At 31 August 2023
- 
15,313 
15,313 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
5,003 
1,276 
Other debtors
5,810 
5,680 
10,813 
6,956 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
16 
- 
Other creditors
26,083 
21,200 
Accruals
2,160 
1,800 
28,259 
23,000 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Samuel George Cornish
Loan
4,182 
- 
22,452 
(18,270)
4,182 
- 
22,452 
(18,270)
Included within other creditors include an amount owed to the Director by the Company. The amount due at year end was £18,270 (2023: -£4,182) and is repayable on demand.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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