REGISTERED NUMBER: 09090109 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

S G G Property Developments (North East)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Iannitello

C A Farini

R Farini

REGISTERED OFFICE:

The Skiff

Derwent Haugh

Gateshead

Tyne and Wear

NE16 3BE

REGISTERED NUMBER:

09090109 (England and Wales)

ACCOUNTANTS:

Inspire Chartered Accountants

6 Queens Court

Third Avenue

Team Valley

Gateshead

Tyne and Wear

NE11 0BU

FIXED ASSETS

Tangible assets

5

33,930

17,765

CURRENT ASSETS

Stocks

20,120

17,200

Debtors

6

250,075

298,452

Cash at bank and in hand

111,160

78,059

381,355

393,711

CREDITORS

Amounts falling due within one year

7

234,486

276,731

NET CURRENT ASSETS

146,869

116,980

TOTAL ASSETS LESS CURRENT LIABILITIES

180,799

134,745

PROVISIONS FOR LIABILITIES

8,483

-

NET ASSETS

172,316

134,745

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

171,316

133,745

SHAREHOLDERS' FUNDS

172,316

134,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:

C A Farini - Director

1.	STATUTORY INFORMATION

S G G Property Developments (North East) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

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.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 22 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

40,040

5,143

19,999

458

65,640

Additions

7,475

17,709

-

-

25,184

At 31 December 2024

47,515

22,852

19,999

458

90,824

DEPRECIATION

At 1 January 2024

22,986

4,859

19,999

31

47,875

Charge for year

5,353

3,574

-

92

9,019

At 31 December 2024

28,339

8,433

19,999

123

56,894

NET BOOK VALUE

At 31 December 2024

19,176

14,419

-

335

33,930

At 31 December 2023

17,054

284

-

427

17,765

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

19,999

DEPRECIATION

At 1 January 2024

and 31 December 2024

19,999

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

33,412

-

Other debtors

216,663

298,452

250,075

298,452

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

33,278

27,969

Taxation and social security

114,235

108,066

Other creditors

86,973

140,696

234,486

276,731

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,000

Ordinary

£1

1,000

1,000