S G Plastering Contractors Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 05040203

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		61,175		30,118

			61,175		30,118
CURRENT ASSETS
Debtors	5	105,718		49,597

		105,718		49,597
Creditors: Amounts Falling Due Within One Year	6	(72,444 )		(59,503 )

NET CURRENT ASSETS (LIABILITIES)			33,274		(9,906 )

TOTAL ASSETS LESS CURRENT LIABILITIES			94,449		20,212

Creditors: Amounts Falling Due After More Than One Year	7		(54,262 )		(24,526 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(12,421 )		(5,722 )

NET ASSETS/(LIABILITIES)			27,766		(10,036 )

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			27,764		(10,038 )

SHAREHOLDERS' FUNDS			27,766		(10,036)

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S G Plastering Contractors Limited

Balance Sheet (continued)

As At 28 February 2025

For the year ending 28 February 2025 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 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.

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

Mr Steven Grant

Director

15/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

S G Plastering Contractors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05040203 . The registered office is The Old Barn, Wood Street, Swanley Village, Kent, BR8 7PA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:

Plant & Machinery	15% on Reducing Balance
Motor Vehicles	15% on Reducing Balance
Fixtures & Fittings	15% on Reducing Balance
Computer Equipment	15% on Reducing Balance

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

...CONTINUED

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S G Plastering Contractors Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

2.5. Taxation - continued

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Tangible Assets

	Plant & Machinery	Computer Equipment	Total
	£	£	£
Cost
As at 29 February 2024	53,699	2,958	56,657
Additions	46,795	-	46,795
Disposals	(12,759 )	(1,861 )	(14,620 )

As at 28 February 2025	87,735	1,097	88,832

Depreciation
As at 29 February 2024	24,684	1,855	26,539
Provided during the period	11,365	126	11,491
Disposals	(8,778 )	(1,595 )	(10,373 )

As at 28 February 2025	27,271	386	27,657

Net Book Value
As at 28 February 2025	60,464	711	61,175

As at 29 February 2024	29,015	1,103	30,118

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	96,393	42,623
Other debtors	9,325	6,974

	105,718	49,597

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S G Plastering Contractors Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	5,670	2,932
Trade creditors	1,147	1,147
Bank loans and overdrafts	18,478	31,838
Other creditors	1,027	1,525
Taxation and social security	46,122	22,061

	72,444	59,503

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	49,596	24,526
Bank loans	4,666	-

	54,262	24,526

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	5,670	2,932
Later than one year and not later than five years	49,596	24,526

	55,266	27,458

	55,266	27,458

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

10. Related Party Transactions

Included in other creditors ia an amount of £163 (£1,059 - 2024) due to the director Mr S Grant. This loan is interest free and no repayments terms have been agreed.

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