13 false false false false false false false false false false true false false false false false false No description of principal activity 2024-07-02 Sage Accounts Production Advanced 2025 - FRS102_2025 xbrli:pure xbrli:shares iso4217:GBP 01302510 2024-07-02 2025-07-01 01302510 2025-07-01 01302510 2024-07-01 01302510 2023-07-01 2024-07-01 01302510 2024-07-01 01302510 2023-06-30 01302510 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-02 2025-07-01 01302510 core:MotorVehicles 2024-07-02 2025-07-01 01302510 bus:Director2 2024-07-02 2025-07-01 01302510 bus:Director3 2024-07-02 2025-07-01 01302510 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-01 01302510 core:MotorVehicles 2024-07-01 01302510 core:LandBuildings core:OwnedOrFreeholdAssets 2025-07-01 01302510 core:MotorVehicles 2025-07-01 01302510 core:WithinOneYear 2025-07-01 01302510 core:WithinOneYear 2024-07-01 01302510 core:AfterOneYear 2025-07-01 01302510 core:AfterOneYear 2024-07-01 01302510 core:ShareCapital 2025-07-01 01302510 core:ShareCapital 2024-07-01 01302510 core:RetainedEarningsAccumulatedLosses 2025-07-01 01302510 core:RetainedEarningsAccumulatedLosses 2024-07-01 01302510 core:MotorVehicles 2024-07-01 01302510 bus:Director1 2024-07-02 2025-07-01 01302510 bus:SmallEntities 2024-07-02 2025-07-01 01302510 bus:AuditExemptWithAccountantsReport 2024-07-02 2025-07-01 01302510 bus:SmallCompaniesRegimeForAccounts 2024-07-02 2025-07-01 01302510 bus:PrivateLimitedCompanyLtd 2024-07-02 2025-07-01 01302510 bus:FullAccounts 2024-07-02 2025-07-01 01302510 core:PlantMachinery 2024-07-02 2025-07-01 01302510 core:PlantMachinery 2024-07-01 01302510 core:PlantMachinery 2025-07-01
COMPANY REGISTRATION NUMBER: 01302510

S & G Fabrications (Lowestoft) Limited

Unaudited financial statements

For the year ended

1 July 2025

S & G Fabrications (Lowestoft) Limited

Statement of financial position

1 July 2025

| 2025 | 2024
|  |  | (restated)
Note | £ | £ | £ | £

Fixed assets

Tangible assets | 6 |  | 139,030 |  | 141,670

Current assets

Stocks | 50,000 |  | 70,000 |
Debtors | 7 | 243,991 |  | 1,952,304 |
Cash at bank and in hand | 15,612 |  | 3,002 |
| --------- |  | ----------- |
| 309,603 |  | 2,025,306 |

Creditors: Amounts falling due within one year | 8 | ( 309,251) |  | ( 2,125,320) |
| --------- |  | ----------- |
Net current assets/(liabilities) |  | 352 |  | ( 100,014)
|  | --------- |  | ---------
Total assets less current liabilities |  | 139,382 |  | 41,656

Creditors: Amounts falling due after more than one year | 9 |  | ( 20,060) |  | ( 44,367)

Provisions

Taxation including deferred tax |  | ( 34,565) |  | ( 35,182)
|  | --------- |  | -------
Net assets/(liabilities) |  | 84,757 |  | ( 37,893)
|  | --------- |  | -------

Capital and reserves

Called up share capital |  | 24 |  | 24
Profit and loss account |  | 84,733 |  | ( 37,917)
|  | ------- |  | -------
Shareholders funds/(deficit) |  | 84,757 |  | ( 37,893)
|  | ------- |  | -------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 1 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

S & G Fabrications (Lowestoft) Limited

Statement of financial position (continued)

1 July 2025
These financial statements were approved by the board of directors and authorised for issue on 13 April 2026 , and are signed on behalf of the board by:

Mr D Hayes | Mr K Jones
Director | Director

Company registration number: 01302510

S & G Fabrications (Lowestoft) Limited

Notes to the financial statements

Year ended 1 July 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Horn Hill, Lowestoft, Suffolk, NR33 0PX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Freehold property | - | 10% straight line
| Motor vehicles | - | 10% straight line
| Equipment | - | 10% reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
The company contributes into a directors' personal pension scheme. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
4. Employee numbers
The average number of employees during the year was 13 (2024: 15 ).
5. Dividends
Equity dividends

|  |  | 2025 | 2024
|  |  | £ | £

Paid

Equity dividends on ordinary shares |  |  | – | 92,250

The directors have now realised that the dividends paid breached section 263 of the Companies Act 2006 as they exceeded retained profits. In certain circumstances it may be possible to recover the dividends from the shareholders. However, the directors have not taken any action with regard to recovery as they consider that the company will continue to be able to meet its obligations and that the situation will be rectified in future years.
6. Tangible assets

| Freehold property | Motor vehicles | Equipment | Total
| £ | £ | £ | £
Cost |  |  |  |
At 2 July 2024 (as restated) | 8,362 | 57,040 | 327,051 | 392,453
Additions | – | 1,600 | 5,972 | 7,572
| ------ | ------- | --------- | ---------
At 1 July 2025 | 8,362 | 58,640 | 333,023 | 400,025
| ------ | ------- | --------- | ---------
Depreciation |  |  |  |
At 2 July 2024 | 8,362 | 10,799 | 231,622 | 250,783
Charge for the year | – | 2,933 | 7,279 | 10,212
| ------ | ------- | --------- | ---------
At 1 July 2025 | 8,362 | 13,732 | 238,901 | 260,995
| ------ | ------- | --------- | ---------
Carrying amount |  |  |  |
At 1 July 2025 | – | 44,908 | 94,122 | 139,030
| ------ | ------- | --------- | ---------
At 1 July 2024 | – | 46,241 | 95,429 | 141,670
| ------ | ------- | --------- | ---------

7. Debtors

| 2025 | 2024
|  | (restated)
| £ | £
Trade debtors | 228,382 | 1,947,487
Other debtors | 15,609 | 4,817
| --------- | -----------
| 243,991 | 1,952,304
| --------- | -----------

8. Creditors: Amounts falling due within one year

| 2025 | 2024
|  | (restated)
| £ | £
Bank loans and overdrafts | 21,000 | 54,839
Trade creditors | 157,450 | 259,550
Social security and other taxes | 122,061 | 92,008
Other creditors | 8,740 | 1,718,923
| --------- | -----------
| 309,251 | 2,125,320
| --------- | -----------

9. Creditors: Amounts falling due after more than one year

| 2025 | 2024
|  | (restated)
| £ | £
Bank loans and overdrafts | 16,895 | 37,798
Other creditors | 3,165 | 6,569
| ------- | -------
| 20,060 | 44,367
| ------- | -------

10. Directors' advances, credits and guarantees
Included within debtors at the year end are interest free directors loan accounts totalling £ 14,190 (2024: £ 4,167 ). The maximum total overdrawn balance during the year was £17,340.