Registration number:
SJG Electrical and Security Limited
for the Year Ended 31 December 2019
SJG Electrical and Security Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
SJG Electrical and Security Limited
Company Information
Directors |
S J Grant J R B Grant S Ward |
Registered office |
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Bankers |
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Page 1 |
SJG Electrical and Security Limited
(Registration number: 06976449)
Balance Sheet as at 31 December 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Profit and loss account |
149,197 |
120,354 |
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Total equity |
149,297 |
120,454 |
For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Page 2 |
SJG Electrical and Security Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
General information |
The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 06976449.
These Financial Statements cover the individual entity, SJG Electrical and Security Limited.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in Sterling which is the functional currency of the Company and have been expressed rounded to the nearest pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 3 |
SJG Electrical and Security Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements.
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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance basis |
Motor vehicles |
25% reducing balance basis |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Dividends
Dividend distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2019 |
2018 |
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Depreciation expense |
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Page 4 |
SJG Electrical and Security Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 January 2019 |
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Additions |
- |
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Disposals |
- |
( |
- |
( |
At 31 December 2019 |
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Depreciation |
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At 1 January 2019 |
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Charge for the year |
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Eliminated on disposal |
- |
( |
- |
( |
At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 31 December 2018 |
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Stocks |
2019 |
2018 |
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Other inventories |
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Debtors |
2019 |
2018 |
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Trade debtors |
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Other debtors |
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Prepayments and accrued income |
9,552 |
5,028 |
Total current trade and other debtors |
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Page 5 |
SJG Electrical and Security Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
8,929 |
8,315 |
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Other creditors |
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Related party transactions |
Transactions with directors |
2019 |
Advances to directors |
At 31 December 2019 |
S J Grant |
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Directors loan account |
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Page 6 |
SJG Electrical and Security Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2019
Summary of transactions with parent
Management charges payable - £40,000 (2018: £40,000).
Office rent payable - £13,200 (2018: £13,200).
Dividends paid - £15,600 (2018: £15,600).
Interest payable - £6,393 (2017: £7,201).
Loans from related parties
2019 |
Parent |
Total |
At start of period |
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Repaid |
( |
( |
At end of period |
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2018 |
Parent |
Total |
At start of period |
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Repaid |
( |
( |
At end of period |
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Terms of loans from related parties
Page 7 |