Company Registration No. 07558562 (England and Wales)
S & G Shopfitters Ltd
Unaudited accounts
for the year ended 31 March 2021
S & G Shopfitters Ltd
Unaudited accounts
Contents
S & G Shopfitters Ltd
Company Information
for the year ended 31 March 2021
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 2021
Tangible assets
27,228
8,225
Cash at bank and in hand
635,858
71,176
Creditors: amounts falling due within one year
(808,074)
(340,850)
Net current assets/(liabilities)
44,325
(15,811)
Total assets less current liabilities
87,980
8,841
Creditors: amounts falling due after more than one year
(75,114)
-
Provisions for liabilities
Deferred tax
(5,990)
(1,563)
Called up share capital
100
100
Profit and loss account
6,776
7,178
Shareholders' funds
6,876
7,278
For the year ending 31 March 2021 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 22 July 2021 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 2021
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 2021
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.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2020
7,758
13,075
2,114
22,947
Additions
28,736
-
612
29,348
At 31 March 2021
36,494
13,075
2,028
51,597
At 1 April 2020
2,741
10,764
1,217
14,722
Charge for the year
9,124
578
507
10,209
On disposals
-
-
(562)
(562)
At 31 March 2021
11,865
11,342
1,162
24,369
At 31 March 2021
24,629
1,733
866
27,228
At 31 March 2020
5,017
2,311
897
8,225
5
Investments
Other investments
Valuation at 1 April 2020
16,427
Valuation at 31 March 2021
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.
6
Debtors: amounts falling due within one year
2021
2020
Trade debtors
172,517
177,567
Amounts due from group undertakings etc.
9,380
9,380
Accrued income and prepayments
31,009
64,188
S & G Shopfitters Ltd
Notes to the Accounts
for the year ended 31 March 2021
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
12,500
-
Obligations under finance leases and hire purchase contracts
4,481
-
Trade creditors
490,877
228,272
Taxes and social security
65,797
65,094
Other creditors
1,995
2,332
Loans from directors
39,618
(161)
8
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
12,614
-
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
72
-
20,985
(20,913)
Director's loan account
89
-
18,792
(18,703)
Amounts due to and from directors are repayable on demand.
11
Transactions with related parties
Dividends totalling £113,620 (2020 - £122,832) 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 6 (2020: 4).
