Company Registration No. 07531040 (England and Wales)
S G Menswear Limited
Unaudited accounts
for the year ended 31 March 2022
S G Menswear Limited
Unaudited accounts
Contents
S G Menswear Limited
Company Information
for the year ended 31 March 2022
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 2022
Tangible assets
56,657
52,559
Cash at bank and in hand
53,125
43,961
Creditors: amounts falling due within one year
(16,208)
(9,932)
Net current assets
41,617
38,962
Total assets less current liabilities
98,274
91,521
Creditors: amounts falling due after more than one year
-
(24,500)
Provisions for liabilities
Deferred tax
(12,642)
(11,170)
Called up share capital
100
100
Profit and loss account
85,532
55,751
Shareholders' funds
85,632
55,851
For the year ending 31 March 2022 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.
The financial statements were approved by the Board and authorised for issue on 22 July 2022 and were signed on its behalf by
Mr P J Ault
Director
Company Registration No. 07531040
S G Menswear Limited
Notes to the Accounts
for the year ended 31 March 2022
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
S G Menswear Limited
Notes to the Accounts
for the year ended 31 March 2022
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2021
174,688
2,121
176,809
Additions
17,927
-
17,927
At 31 March 2022
192,615
2,121
194,736
At 1 April 2021
122,384
1,866
124,250
Charge for the year
13,778
51
13,829
At 31 March 2022
136,162
1,917
138,079
At 31 March 2022
56,453
204
56,657
At 31 March 2021
52,304
255
52,559
6
Debtors: amounts falling due within one year
2022
2021
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
-
5,500
Taxes and social security
15,025
3,334
Loans from directors
258
258
8
Creditors: amounts falling due after more than one year
2022
2021
9
Share capital
2022
2021
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 (2021 £258).
11
Average number of employees
During the year the average number of employees was 5 (2021: 5).