Silverfin true 31/01/2023 01/02/2022 31/01/2023 E S Comley 25/01/2023 01/07/2022 N I Stoesser 13/01/2021 D J L Whitmore 01/07/2022 13/01/2021 01 February 2024 13130201 2023-01-31 13130201 bus:Director1 2023-01-31 13130201 bus:Director2 2023-01-31 13130201 bus:Director3 2023-01-31 13130201 2022-01-31 13130201 core:ShareCapital 2023-01-31 13130201 core:ShareCapital 2022-01-31 13130201 bus:OrdinaryShareClass1 2023-01-31 13130201 2022-02-01 2023-01-31 13130201 bus:FullAccounts 2022-02-01 2023-01-31 13130201 bus:FRS102 2022-02-01 2023-01-31 13130201 bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 13130201 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 13130201 bus:Director1 2022-02-01 2023-01-31 13130201 bus:Director2 2022-02-01 2023-01-31 13130201 bus:Director3 2022-02-01 2023-01-31 13130201 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 13130201 bus:OrdinaryShareClass1 2021-01-13 2022-01-31 iso4217:GBP xbrli:shares

Company No: 13130201 (England and Wales)

SG FUNDING LIMITED

Annual Report and Unaudited Financial Statements
For the financial year ended 31 January 2023

SG FUNDING LIMITED

Annual Report and Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

SG FUNDING LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2023
SG FUNDING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2023
DIRECTOR N I Stoesser
SECRETARY E S Comley
REGISTERED OFFICE First Floor
Lee House
90 Great Bridgewater Street
Manchester
M1 5JW
England
United Kingdom
COMPANY NUMBER 13130201 (England and Wales)
SG FUNDING LIMITED

DIRECTOR'S REPORT

For the financial year ended 31 January 2023
SG FUNDING LIMITED

DIRECTOR'S REPORT (continued)

For the financial year ended 31 January 2023

The director presents this annual report on the affairs of the Company, together with the financial statements, for the financial year ended 31 January 2023.

PRINCIPAL ACTIVITIES

The Company has been dormant as defined in Section 1169 of the Companies Act 2006 throughout the current financial year and prior year. It is anticipated that the Company will remain dormant for the foreseeable future.

GOING CONCERN

The directors have assessed the balance sheet and likely future cash flows at the date of approving these financial statements. Given the Company is dormant and has no external liabilities, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

REVIEW OF THE BUSINESS

The Company did not trade during the current financial year or the preceding financial period.

The net current asset position of the Company as at the financial year end amounted to £1 (2022: net current asset £1).

The net asset position of the Company as at the financial year end amounted to £1 (2022: net asset £1).

DIRECTOR

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

E S Comley (Appointed 01 July 2022, Resigned 25 January 2023)
N I Stoesser
D J L Whitmore (Resigned 01 July 2022)

EXEMPTION FROM PREPARING A STRATEGIC REPORT

The Company has taken advantage of the exemption in Section 414 A(2) of the Companies Act 2006 from the requirement to prepare a Strategic Report and in preparing the Directors' Report on the basis that it would be entitled to prepare financial statements for the year in accordance with the small companies regime but for being a member of an ineligible group.



Approved by the Board of Directors and signed on its behalf by:

N I Stoesser
Director
First Floor
Lee House
90 Great Bridgewater Street
Manchester
M1 5JW
England
United Kingdom

01 February 2024

SG FUNDING LIMITED

BALANCE SHEET

As at 31 January 2023
SG FUNDING LIMITED

BALANCE SHEET (continued)

As at 31 January 2023
Note 31.01.2023 31.01.2022
£ £
Current assets
Cash at bank and in hand 3 1 1
1 1
Net current assets 1 1
Total assets less current liabilities 1 1
Net assets 1 1
Capital and reserves 4
Called-up share capital 1 1
Total shareholder's funds 1 1

SG Funding Limited (registered number: 13130201) did not trade during the current financial period and has made neither profit nor loss, nor any other comprehensive income. There have been no movements in shareholders’ funds during the current financial period and therefore no Statement of Changes of Equity has been included. For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The financial statements of SG Funding Limited (registered number: 13130201) were approved and authorised for issue by the Board of Directors on 01 February 2024. They were signed on its behalf by:

N I Stoesser
Director
SG FUNDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
SG FUNDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

SG Funding Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is First Floor Lee House, 90 Great Bridgewater Street, Manchester, M1 5JW, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Financial Reporting Standard 102 (FRS 102) applicable in the UK and Republic of Ireland issued by the Financial Reporting Council and the requirements of the Companies Act 2006. Previously the financial statements were prepared in accordance with Financial Reporting Standard 101 'Reduced Disclosure Framework' ("FRS 101"). The Company transitioned to Financial Reporting Standard 102 ("FRS 102") for the year ended 31 January 2023. The transition date was 13 January 2021, being the first day of the comparative period included in these financial statements, and no transition adjustments have been required.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

The Company's ultimate parent undertaking, Slater and Gordon UK Holdings Limited includes the Company in its consolidated financial statements, see note 7 for further details. In these financial statements, the Company is considered to be a qualifying entity (for the purposes of this FRS) and has applied the exemptions available under FRS 102 in respect of the following disclosures:

- Reconciliation of the number of shares outstanding from the beginning to end of the period;
- Cash Flow Statement and related notes; and
- Key Management Personnel compensation.

Going concern

The directors have assessed the balance sheet and likely future cash flows at the date of approving these financial statements. Given the Company is dormant and has no external liabilities, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s400
The Company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Reporting period length

The Company was incorporated on 13 January 2021 and therefore the comparative period runs from 13 January 2021 to 31 January 2022. The current period is for 12 months to 31 January 2023 therefore the periods are not entirely comparable.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described in note 1, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial year in which the estimate is revised if the revision affects only that financial year, or in the financial year of the revision and future financial years if the revision affects both current and future financial years.

The director does not consider that any critical judgements have been made in the application of the Company's accounting policies and no key sources of estimation uncertainty have been identified that have a significant risk of causing a material misstatement to the carrying amount of assets and liabilities within the financial year.

3. Cash and cash equivalents

31.01.2023 31.01.2022
£ £
Cash at bank and in hand 1 1

4. Called-up share capital and reserves

31.01.2023 31.01.2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1
Presented as follows:
Called-up share capital presented as equity 1 1

The Company has one class of Ordinary Shares of £1 each which carries no right to fixed income and has no authorised share capital limit.

5. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.

No directors' remuneration was paid during the current year or prior period.

6. Controlling party

The immediate parent is Slater & Gordon (UK) 1 Limited, a company registered in England and Wales.

The ultimate parent undertaking and controlling party is Slater and Gordon UK Holdings Limited, a company incorporated in England and Wales and is both the smallest and largest parent company preparing group financial statements. Copies of the consolidated accounts of Slater and Gordon UK Holdings Limited can be obtained from First Floor Lee House, 90 Great Bridgewater Street, Manchester, M1 5JW.