SGS INFOTECH LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08976896

Unaudited Financial Statements for the Year Ended 31 March 2020

for

SGS INFOTECH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S G Shenton

SECRETARY:

Crossley and Co.

REGISTERED OFFICE:

Royal Mews

St. Georges Place

Cheltenham

Gloucestershire

GL50 3PQ

REGISTERED NUMBER:

08976896

ACCOUNTANTS:

Crossley and Co.

Royal Mews

St Georges Place

Cheltenham

Gloucestershire

GL50 3PQ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

9,850

14,775

9,850

14,775

CURRENT ASSETS

Debtors

6

12,237

9,346

Cash at bank

55,422

42,447

67,659

51,793

CREDITORS

Amounts falling due within one year

7

71,553

56,947

NET CURRENT LIABILITIES

(3,894

)

(5,154

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,956

9,621

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

5,954

9,619

SHAREHOLDERS' FUNDS

5,956

9,621

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 March 2021 and were signed by:

S G Shenton - Director

1.	STATUTORY INFORMATION

SGS INFOTECH LIMITED is a private company, limited by shares , registered in Not specified/Other. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

55,000

AMORTISATION

At 1 April 2019

and 31 March 2020

55,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2019

and 31 March 2020

28,362

DEPRECIATION

At 1 April 2019

13,587

Charge for year

4,925

At 31 March 2020

18,512

NET BOOK VALUE

At 31 March 2020

9,850

At 31 March 2019

14,775

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

12,237

9,346

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

VAT

124

274

Directors' current accounts

69,799

51,862

Accrued expenses

1,630

4,811

71,553

56,947

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

2

2

9.

RESERVES

Retained

earnings

£

At 1 April 2019

9,619

Deficit for the year

(1,665

)

Dividends

(2,000

)

At 31 March 2020

5,954