Company Registration No. 05614680 (England and Wales)
SFG SOLUTIONS LTD
Unaudited accounts
for the year ended 30 November 2023
SFG SOLUTIONS LTD
Unaudited accounts
Contents
SFG SOLUTIONS LTD
Company Information
for the year ended 30 November 2023
Directors
Mr S.F. Gledhill
Mrs R.W. Gledhill
Secretary
Mrs R.W. Gledhill
Company Number
05614680 (England and Wales)
Registered Office
Penates
13 Manor Park Avenue
Princes Risborough
Bucks
HP27 9AU
England
Accountants
Stephen Beard Accountancy Services
10 Cheshire Road
Thame
Oxon
OX9 3LQ
SFG SOLUTIONS LTD
Statement of financial position
as at 30 November 2023
Cash at bank and in hand
18,126
9,074
Creditors: amounts falling due within one year
(17,099)
(17,037)
Net current assets
8,789
10,507
Total assets less current liabilities
9,325
11,322
Creditors: amounts falling due after more than one year
-
(200)
Provisions for liabilities
Called up share capital
1,200
1,200
Profit and loss account
8,023
9,767
Shareholders' funds
9,223
10,967
For the year ending 30 November 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 19 March 2024 and were signed on its behalf by
Mr S.F. Gledhill
Director
Company Registration No. 05614680
SFG SOLUTIONS LTD
Notes to the Accounts
for the year ended 30 November 2023
SFG SOLUTIONS LTD is a private company, limited by shares, registered in England and Wales, registration number 05614680. The registered office is Penates, 13 Manor Park Avenue, Princes Risborough, Bucks, HP27 9AU, England.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Computer equipment
25% Straight line basis
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
SFG SOLUTIONS LTD
Notes to the Accounts
for the year ended 30 November 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Computer equipment
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Computer equipment
277
444
Amounts falling due within one year
Trade debtors
7,404
17,836
Accrued income and prepayments
358
634
SFG SOLUTIONS LTD
Notes to the Accounts
for the year ended 30 November 2023
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
200
271
Taxes and social security
9,277
9,064
Deferred income
1,317
1,133
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
-
200
8
Deferred taxation
2023
2022
Accelerated capital allowances
102
155
Provision at start of year
155
149
(Credited)/charged to the profit and loss account
(53)
6
Provision at end of year
102
155
9
Operating lease commitments
2023
2022
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
200
271
Later than one year and not later than five years
-
200
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).