Accounts filed on 31-05-2022

Accounts filed on 31-05-2022

SGM PROPERTY LTD - Company Information

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Registered number: 10749442
SGM Property Ltd
ACCOUNTS
FOR THE YEAR ENDED 31/05/2022
Prepared By:
Taylor & Taylor Accountants Ltd
Chartered Accountants
175 Cole Valley Road
Birmingham
B28 0DG
SGM Property Ltd
ACCOUNTS
FOR THE YEAR ENDED 31/05/2022
DIRECTORS
G. Muggleton
S. Muggleton
SECRETARY
S. Muggleton
REGISTERED OFFICE
27 Warren Drive
Appleton
Warrington
WA4 5BN
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 10749442
ACCOUNTANTS
Taylor & Taylor Accountants Ltd
Chartered Accountants
175 Cole Valley Road
Birmingham
B28 0DG
SGM Property Ltd
ACCOUNTS
FOR THEYEARENDED31/05/2022
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
SGM Property Ltd
BALANCE SHEET AT 31/05/2022
20222021
Notes££
FIXED ASSETS
Tangible assets2357,523236,000
CURRENT ASSETS
Debtors4730289
Cash at bank and in hand4,6833,980
5,4134,269
CREDITORS: Amounts falling due within one year5326,547210,014
NET CURRENT LIABILITIES(321,134)(205,745)
TOTAL ASSETS LESS CURRENT LIABILITIES36,38930,255
PROVISIONS FOR LIABILITIES AND CHARGES75,1265,126
NET ASSETS31,26325,129
CAPITAL AND RESERVES
Called up share capital8100100
Revaluation reserve1d,910,12010,120
Profit and loss account21,04314,909
SHAREHOLDERS' FUNDS31,26325,129
For the year ending 31/05/2022 the company was entitled to exemption 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.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 16/02/2023 and signed on their behalf by
.............................
G. Muggleton
Director
.............................
S. Muggleton
Director
SGM Property Ltd
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/05/2022
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Going Concern
These financial statements have been prepared on a going concern basis despite the insolvent nature of the balance sheet. The directors believe that the company can continue to trade for the forseeable future and meet all liabilities as they fall due
1c. Investment Properties
Investment properties are included in the financial statements at open market value. No depreciation is provided on such property in compliance with the Financial Reporting Standard for Smaller Entities. This departure from Companies Act requirements is necessary to show a true and fair view.
1d. Revaluation Reserve
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 9).
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account.
2. TANGIBLE FIXED ASSETS
Cost
At 31/05/2022
Depreciation
At 31/05/2022
Net Book Amounts
At 31/05/2022
SGM Property Ltd
3. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 01/06/2021236,000236,000
Additions121,523121,523
At 31/05/2022357,523357,523
4. DEBTORS 20222021
££
Amounts falling due within one year
Prepayments730289
730289
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20222021
££
UK corporation tax1,4381,061
Directors current account162,022105,753
Directors current account162,337102,450
Accruals750750
326,547210,014
6. EMPLOYEES
20222021
No.No.
Average number of employees--
SGM Property Ltd
7. PROVISIONS FOR LIABILITIES 20222021
££
Deferred taxation5,1265,126
5,1265,126
8. SHARE CAPITAL 20222021
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
9. REVALUATION RESERVE 20222021
££
Revaluation reserve10,120-
Fair value reserve-10,120
10,12010,120