Company Registration No. 07531040 (England and Wales)
S G Menswear Limited
Unaudited accounts
for the year ended 31 March 2020
S G Menswear Limited
Unaudited accounts
Contents
S G Menswear Limited
Company Information
for the year ended 31 March 2020
Company Number
07531040 (England and Wales)
Registered Office
122-124 BRADSHAWGATE
LEIGH
LANCASHIRE
WN7 4NP
Accountants
J F Balshaw & Co
20 Old Kiln Lane
Heaton
Bolton
Lancashire
BL1 5PD
S G Menswear Limited
Statement of financial position
as at
31 March 2020
Intangible assets
1,500
3,000
Tangible assets
64,358
64,060
Cash at bank and in hand
17,665
14,072
Creditors: amounts falling due within one year
(10,601)
(22,687)
Net current assets/(liabilities)
11,865
(4,515)
Total assets less current liabilities
77,723
62,545
Provisions for liabilities
Deferred tax
(12,679)
(12,585)
Called up share capital
100
100
Profit and loss account
64,944
49,860
Shareholders' funds
65,044
49,960
For the year ending 31 March 2020 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 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 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.
Approved by the Board on 12 May 2020.
Mr P J Ault
Director
Company Registration No. 07531040
S G Menswear Limited
Notes to the Accounts
for the year ended 31 March 2020
S G Menswear Limited is a private company, limited by shares, registered in England and Wales, registration number 07531040. The registered office is 122-124 BRADSHAWGATE, LEIGH, LANCASHIRE, WN7 4NP.
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 represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on cost
Fixtures & fittings
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible fixed assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
4
Intangible fixed assets
Goodwill
Charge for the year
1,500
S G Menswear Limited
Notes to the Accounts
for the year ended 31 March 2020
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2019
156,961
2,121
159,082
Additions
16,387
-
16,387
At 31 March 2020
173,348
2,121
175,469
At 1 April 2019
93,298
1,724
95,022
Charge for the year
16,010
79
16,089
At 31 March 2020
109,308
1,803
111,111
At 31 March 2020
64,040
318
64,358
At 31 March 2019
63,663
397
64,060
Finished goods
4,700
4,100
8
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
8,332
9,504
Other creditors
2,011
925
Loans from directors
258
12,258
9
Share capital
2020
2019
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
The company owes a balance of £258 to the director, Mr P Ault (2019 £12,258).
11
Average number of employees
During the year the average number of employees was 6 (2019: 5).