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Registration number: 13803295

SEBI Group Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

SEBI Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

SEBI Group Limited

Company Information

Directors

Mr S Collins

Mr J Wetherell

Registered office

Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

SEBI Group Limited

(Registration number: 13803295)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,069

-

Investment property

5

234,342

-

Other financial assets

6

149,940

-

 

385,351

-

Current assets

 

Debtors

7

104,428

2,521

Cash at bank and in hand

 

12,949

3,220

 

117,377

5,741

Creditors: Amounts falling due within one year

8

(334,808)

(10,750)

Net current liabilities

 

(217,431)

(5,009)

Total assets less current liabilities

 

167,920

(5,009)

Creditors: Amounts falling due after more than one year

8

(153,154)

-

Net assets/(liabilities)

 

14,766

(5,009)

Capital and reserves

 

Called up share capital

4

4

Retained earnings

14,762

(5,013)

Shareholders' funds/(deficit)

 

14,766

(5,009)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 October 2024 and signed on its behalf by:
 

 

SEBI Group Limited

(Registration number: 13803295)
Balance Sheet as at 31 March 2024

.........................................
Mr J Wetherell
Director

 

SEBI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
England

These financial statements were authorised for issue by the Board on 2 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has made a loss in the financial period and shows an insolvent position at the balance sheet date. The directors of the company have undertaken to provide financial support for a period of at least 12 months from the date of approval of these financial statements. The directors have considered future strategy, cash requirements and the financial commitment and as a result consider it appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

SEBI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

SEBI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 2).

 

SEBI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

Additions

1,327

1,327

At 31 March 2024

1,327

1,327

Depreciation

Charge for the year

258

258

At 31 March 2024

258

258

Carrying amount

At 31 March 2024

1,069

1,069

5

Investment properties

2024
£

Additions

234,342

At 31 March

234,342


Investment property was valued by the directors of the company on an open market value basis as at 31 March 2024 and the value was deemed to be the same as the purchase price.

 

SEBI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

149,940

149,940

At 31 March 2024

149,940

149,940

Carrying amount

At 31 March 2024

149,940

149,940

7

Debtors

Current

2024
£

2023
£

Trade debtors

70,336

-

Prepayments

6,658

-

Other debtors

27,434

2,521

 

104,428

2,521

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

3,124

-

Trade creditors

 

5,361

-

Amounts owed to related parties

10

285,024

10,000

Taxation and social security

 

25,852

-

Accruals and deferred income

 

14,964

750

Other creditors

 

483

-

 

334,808

10,750

 

SEBI Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

153,154

-


Creditors include bank loans repayable by instalments of £137,537 (2023 - £nil) due after more than five years.

The bank loan is secured on the asset purchased which was the investment property.

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

153,154

-

Current loans and borrowings

2024
£

2023
£

Bank borrowings

3,124

-

10

Related party transactions

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

10,000

10,000

Advanced

275,025

275,025

At end of period

285,025

285,025

2023

Other related parties
£

Total
£

Advanced

10,000

10,000

At end of period

10,000

10,000

Terms of loans from related parties

Loans are unsecured, interest free and repayable on demand.