SG Window Systems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05148811 (England and Wales)

SG Window Systems Limited

Unaudited Financial Statements for the Year Ended 30 June 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S M Rubotham

Mrs M Rubotham

Mrs V Welch

S G Welch

REGISTERED OFFICE:

12 Douglas Park

Atherton

Manchester

M46 9EE

REGISTERED NUMBER:

05148811 (England and Wales)

ACCOUNTANTS:

Carter Collins & Myer Limited

Chichester House

2 Chichester Street

Rochdale

Lancashire

OL16 2AX

FIXED ASSETS

Tangible assets

4

538,625

654,493

CURRENT ASSETS

Stocks

5

300,000

125,500

Debtors

6

432,195

515,690

Cash at bank and in hand

472,497

170,808

1,204,692

811,998

CREDITORS

Amounts falling due within one year

7

1,453,862

1,019,581

NET CURRENT LIABILITIES

(249,170

)

(207,583

)

TOTAL ASSETS LESS CURRENT LIABILITIES

289,455

446,910

CREDITORS

Amounts falling due after more than one year

8

30,556

124,560

NET ASSETS

258,899

322,350

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

258,799

322,250

SHAREHOLDERS' FUNDS

258,899

322,350

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 31 March 2022 and were signed on its behalf by:

S G Welch - Director

1.	STATUTORY INFORMATION

SG Window Systems Limited is a private company, limited by shares , registered in England and Wales. 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.

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 etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2020 - 73 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2020

1,034,641

Additions

5,500

At 30 June 2021

1,040,141

DEPRECIATION

At 1 July 2020

380,148

Charge for year

121,368

At 30 June 2021

501,516

NET BOOK VALUE

At 30 June 2021

538,625

At 30 June 2020

654,493

5.

STOCKS

30.6.21

30.6.20

£

£

Stocks

300,000

125,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Trade debtors

340,926

360,376

Other debtors

7,150

102,952

VAT

83,243

-

Prepayments and accrued income

876

52,362

432,195

515,690

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

£

Bank loans and overdrafts (see note 9)

100,000

100,000

Hire purchase contracts

53,589

104,558

Trade creditors

899,160

728,008

Tax

198,497

123,271

Social security and other taxes

44,455

(41,275

)

Nest Pension Creditor

7,791

-

Directors' current accounts

148,120

891

Accrued expenses

2,250

4,128

1,453,862

1,019,581

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.21

30.6.20

£

£

Hire purchase contracts

30,556

124,560

9.

LOANS

An analysis of the maturity of loans is given below:

30.6.21

30.6.20

£

£

Amounts falling due within one year or on demand:

Bank loans

100,000

100,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.21

30.6.20

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 July 2020

322,250

Profit for the year

336,549

Dividends

(400,000

)

At 30 June 2021

258,799