Company Registration No. 07558562 (England and Wales)
S & G Shopfitters Ltd
Unaudited accounts
for the year ended 31 March 2020
S & G Shopfitters Ltd
Unaudited accounts
Contents
S & G Shopfitters Ltd
Company Information
for the year ended 31 March 2020
Directors
G Howell-Jones
S Howell-Jones
Company Number
07558562 (England and Wales)
Registered Office
Unit 18 Brook Farm
Thrapston Road
Ellington
Huntingdon
PE28 0AE
Accountants
Farrand-Laine Limited
81 High Street
Little Paxton
St Neots
Cambs
PE19 6QH
S & G Shopfitters Ltd
Statement of financial position
as at 31 March 2020
Tangible assets
8,225
7,369
Cash at bank and in hand
71,176
49,442
Creditors: amounts falling due within one year
(340,850)
(359,360)
Net current (liabilities)/assets
(15,811)
924
Total assets less current liabilities
8,841
8,293
Provisions for liabilities
Deferred tax
(1,563)
(1,400)
Called up share capital
100
100
Profit and loss account
7,178
6,793
Shareholders' funds
7,278
6,893
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 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 17 September 2020 and were signed on its behalf by
G Howell-Jones
Director
Company Registration No. 07558562
S & G Shopfitters Ltd
Notes to the Accounts
for the year ended 31 March 2020
S & G Shopfitters Ltd is a private company, limited by shares, registered in England and Wales, registration number 07558562. The registered office is Unit 18 Brook Farm, Thrapston Road, Ellington, Huntingdon, PE28 0AE.
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.
On 1st July 2019 the company name was changed from S and G Refurbishments and Maintenance Ltd to S & G Shopfitters Ltd.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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.
The accounts are presented in £ sterling.
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:
Plant & machinery
25% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
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.
The company contributes towards personal defined contribution schemes for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
S & G Shopfitters Ltd
Notes to the Accounts
for the year ended 31 March 2020
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.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2019
4,157
13,075
2,114
19,346
At 31 March 2020
7,758
13,075
2,114
22,947
At 1 April 2019
1,069
9,992
916
11,977
Charge for the year
1,672
772
301
2,745
At 31 March 2020
2,741
10,764
1,217
14,722
At 31 March 2020
5,017
2,311
897
8,225
At 31 March 2019
3,088
3,083
1,198
7,369
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Investments
Other investments
Valuation at 1 April 2019
-
Valuation at 31 March 2020
16,427
On 1 July 2019, S&G Shopfitters Ltd acquired an 75% ownership interest in Cambridge Sash Windows Ltd. The group is small under the CA 2006.
As S&G Shopfitters Ltd has acquired an ownership interest of more than 50% in Cambridge Sash Windows Ltd, a parent-subsidiary relationship has been established. The directors of S&G Shopfitters Ltd have taken advantage of the exemption available under s399 (2A) of the Companies Act 2006 and have not produced consolidated financial statements.
S & G Shopfitters Ltd
Notes to the Accounts
for the year ended 31 March 2020
Trade debtors
177,567
191,280
Amounts due from group undertakings etc.
9,380
-
Accrued income and prepayments
64,188
119,562
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Creditors: amounts falling due within one year
2020
2019
Trade creditors
228,272
293,622
Taxes and social security
107,607
74,577
Other creditors
2,332
2,741
Loans from directors
(161)
(13,580)
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan account
468
72
468
72
Director's loan account
13,113
89
13,113
89
Amounts due to and from directors are repayable on demand.
11
Transactions with related parties
Dividends totalling £122,832 (2019 - £80,752) were paid in the year in respect of shares held by the company's directors.
12
Average number of employees
During the year the average number of employees was 4 (2019: 4).
