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REGISTERED NUMBER: 13846027 (England and Wales)
















SFG Technology Limited

Unaudited Financial Statements

for the Year Ended 31st December 2023






SFG Technology Limited (Registered number: 13846027)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SFG Technology Limited

Company Information
for the Year Ended 31st December 2023







Directors: Mr N T Hayward
Mr L C Kao





Registered office: 4th Floor
100 Fenchurch Street
London
EC3M 5JD





Registered number: 13846027 (England and Wales)





Accountants: Wilson Stevens
Accountants
4th Floor
100 Fenchurch Street
London
EC3M 5JD

SFG Technology Limited (Registered number: 13846027)

Statement of Financial Position
31st December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 16,603 33,207
Tangible assets 5 2,740 3,511
19,343 36,718

Current assets
Debtors 6 14,876 1,428
Cash at bank 36,115 23,664
50,991 25,092
Creditors
Amounts falling due within one year 7 4,071 8,070
Net current assets 46,920 17,022
Total assets less current liabilities 66,263 53,740

Creditors
Amounts falling due after more than one
year

8

927,998

738,605
Net liabilities (861,735 ) (684,865 )

Capital and reserves
Called up share capital 100 100
Retained earnings (861,835 ) (684,965 )
(861,735 ) (684,865 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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.

SFG Technology Limited (Registered number: 13846027)

Statement of Financial Position - continued
31st December 2023


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 18th September 2024 and were signed on its behalf by:





Mr L C Kao - Director


SFG Technology Limited (Registered number: 13846027)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. Statutory information

SFG Technology 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
At the balance sheet date, the company's liabilities exceeded its assets. The company has received assurance from the directors, that they will continue to give financial support to the company for twelve months from the date of signing of these financial statements.

On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's financial statements may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The financial statements do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

License is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

SFG Technology Limited (Registered number: 13846027)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

3. Employees and directors

The average number of employees during the year was 4 (2022 - 6 ) .

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1st January 2023
and 31st December 2023 49,810
Amortisation
At 1st January 2023 16,603
Charge for year 16,604
At 31st December 2023 33,207
Net book value
At 31st December 2023 16,603
At 31st December 2022 33,207

5. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1st January 2023
and 31st December 2023 4,390
Depreciation
At 1st January 2023 879
Charge for year 771
At 31st December 2023 1,650
Net book value
At 31st December 2023 2,740
At 31st December 2022 3,511

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 14,876 1,428

SFG Technology Limited (Registered number: 13846027)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 3,594 1,910
Taxation and social security (1,557 ) 2,160
Other creditors 2,034 4,000
4,071 8,070

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Other creditors 927,998 738,605