Company Registration No. 07531040 (England and Wales)
S G Menswear Limited
Unaudited accounts
for the year ended 31 March 2018
S G Menswear Limited
Unaudited accounts
Contents
S G Menswear Limited
Company Information
for the year ended 31 March 2018
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 2018
Intangible assets
4,500
6,000
Tangible assets
62,024
59,920
Cash at bank and in hand
21,909
16,874
Creditors: amounts falling due within one year
(25,263)
(31,405)
Net current assets/(liabilities)
1,246
(6,331)
Total assets less current liabilities
67,770
59,589
Provisions for liabilities
Deferred tax
(12,152)
(11,697)
Called up share capital
100
100
Profit and loss account
55,518
47,792
Shareholders' funds
55,618
47,892
For the year ending 31 March 2018 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 1 November 2018.
Mr P J Ault
Director
Company Registration No. 07531040
S G Menswear Limited
Notes to the Accounts
for the year ended 31 March 2018
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 2018
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2017
124,509
2,121
126,630
Additions
16,005
-
16,005
At 31 March 2018
140,514
2,121
142,635
At 1 April 2017
65,310
1,400
66,710
Charge for the year
13,721
180
13,901
At 31 March 2018
79,031
1,580
80,611
At 31 March 2018
61,483
541
62,024
At 31 March 2017
59,199
721
59,920
Finished goods
4,600
8,200
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Creditors: amounts falling due within one year
2018
2017
Trade creditors
239
1,193
Taxes and social security
11,846
11,520
Loans from directors
12,258
17,782
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Share capital
2018
2017
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
Loan owed to director £12,258 (£17,782)
10
Average number of employees
During the year the average number of employees was 4 (2017: 4).