2023-06-012024-05-312024-05-31false10164653SGL7 LTD2024-12-3055201falseiso4217:GBPxbrli:pure101646532023-06-01101646532024-05-31101646532023-06-012024-05-31101646532022-06-01101646532023-05-31101646532022-06-012023-05-3110164653bus:SmallEntities2023-06-012024-05-3110164653bus:AuditExempt-NoAccountantsReport2023-06-012024-05-3110164653bus:FullAccounts2023-06-012024-05-3110164653bus:PrivateLimitedCompanyLtd2023-06-012024-05-3110164653core:WithinOneYear2024-05-3110164653core:AfterOneYear2024-05-3110164653core:WithinOneYear2023-05-3110164653core:AfterOneYear2023-05-3110164653core:ShareCapital2024-05-3110164653core:SharePremium2024-05-3110164653core:RevaluationReserve2024-05-3110164653core:OtherReservesSubtotal2024-05-3110164653core:RetainedEarningsAccumulatedLosses2024-05-3110164653core:ShareCapital2023-05-3110164653core:SharePremium2023-05-3110164653core:RevaluationReserve2023-05-3110164653core:OtherReservesSubtotal2023-05-3110164653core:RetainedEarningsAccumulatedLosses2023-05-3110164653core:LandBuildings2024-05-3110164653core:PlantMachinery2024-05-3110164653core:Vehicles2024-05-3110164653core:FurnitureFittings2024-05-3110164653core:OfficeEquipment2024-05-3110164653core:NetGoodwill2024-05-3110164653core:IntangibleAssetsOtherThanGoodwill2024-05-3110164653core:ListedExchangeTraded2024-05-3110164653core:UnlistedNon-exchangeTraded2024-05-3110164653core:LandBuildings2023-05-3110164653core:PlantMachinery2023-05-3110164653core:Vehicles2023-05-3110164653core:FurnitureFittings2023-05-3110164653core:OfficeEquipment2023-05-3110164653core:NetGoodwill2023-05-3110164653core:IntangibleAssetsOtherThanGoodwill2023-05-3110164653core:ListedExchangeTraded2023-05-3110164653core:UnlistedNon-exchangeTraded2023-05-3110164653core:LandBuildings2023-06-012024-05-3110164653core:PlantMachinery2023-06-012024-05-3110164653core:Vehicles2023-06-012024-05-3110164653core:FurnitureFittings2023-06-012024-05-3110164653core:OfficeEquipment2023-06-012024-05-3110164653core:NetGoodwill2023-06-012024-05-3110164653core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3110164653core:ListedExchangeTraded2023-06-012024-05-3110164653core:UnlistedNon-exchangeTraded2023-06-012024-05-3110164653core:MoreThanFiveYears2023-06-012024-05-3110164653core:Non-currentFinancialInstruments2024-05-3110164653core:Non-currentFinancialInstruments2023-05-3110164653dpl:CostSales2023-06-012024-05-3110164653dpl:DistributionCosts2023-06-012024-05-3110164653core:LandBuildings2023-06-012024-05-3110164653core:PlantMachinery2023-06-012024-05-3110164653core:Vehicles2023-06-012024-05-3110164653core:FurnitureFittings2023-06-012024-05-3110164653core:OfficeEquipment2023-06-012024-05-3110164653dpl:AdministrativeExpenses2023-06-012024-05-3110164653core:NetGoodwill2023-06-012024-05-3110164653core:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3110164653dpl:GroupUndertakings2023-06-012024-05-3110164653dpl:ParticipatingInterests2023-06-012024-05-3110164653dpl:GroupUndertakingscore:ListedExchangeTraded2023-06-012024-05-3110164653core:ListedExchangeTraded2023-06-012024-05-3110164653dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-06-012024-05-3110164653core:UnlistedNon-exchangeTraded2023-06-012024-05-3110164653dpl:CostSales2022-06-012023-05-3110164653dpl:DistributionCosts2022-06-012023-05-3110164653core:LandBuildings2022-06-012023-05-3110164653core:PlantMachinery2022-06-012023-05-3110164653core:Vehicles2022-06-012023-05-3110164653core:FurnitureFittings2022-06-012023-05-3110164653core:OfficeEquipment2022-06-012023-05-3110164653dpl:AdministrativeExpenses2022-06-012023-05-3110164653core:NetGoodwill2022-06-012023-05-3110164653core:IntangibleAssetsOtherThanGoodwill2022-06-012023-05-3110164653dpl:GroupUndertakings2022-06-012023-05-3110164653dpl:ParticipatingInterests2022-06-012023-05-3110164653dpl:GroupUndertakingscore:ListedExchangeTraded2022-06-012023-05-3110164653core:ListedExchangeTraded2022-06-012023-05-3110164653dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-06-012023-05-3110164653core:UnlistedNon-exchangeTraded2022-06-012023-05-3110164653core:NetGoodwill2024-05-3110164653core:IntangibleAssetsOtherThanGoodwill2024-05-3110164653core:LandBuildings2024-05-3110164653core:PlantMachinery2024-05-3110164653core:Vehicles2024-05-3110164653core:FurnitureFittings2024-05-3110164653core:OfficeEquipment2024-05-3110164653core:AfterOneYear2024-05-3110164653core:WithinOneYear2024-05-3110164653core:ListedExchangeTraded2024-05-3110164653core:UnlistedNon-exchangeTraded2024-05-3110164653core:ShareCapital2024-05-3110164653core:SharePremium2024-05-3110164653core:RevaluationReserve2024-05-3110164653core:OtherReservesSubtotal2024-05-3110164653core:RetainedEarningsAccumulatedLosses2024-05-3110164653core:NetGoodwill2023-05-3110164653core:IntangibleAssetsOtherThanGoodwill2023-05-3110164653core:LandBuildings2023-05-3110164653core:PlantMachinery2023-05-3110164653core:Vehicles2023-05-3110164653core:FurnitureFittings2023-05-3110164653core:OfficeEquipment2023-05-3110164653core:AfterOneYear2023-05-3110164653core:WithinOneYear2023-05-3110164653core:ListedExchangeTraded2023-05-3110164653core:UnlistedNon-exchangeTraded2023-05-3110164653core:ShareCapital2023-05-3110164653core:SharePremium2023-05-3110164653core:RevaluationReserve2023-05-3110164653core:OtherReservesSubtotal2023-05-3110164653core:RetainedEarningsAccumulatedLosses2023-05-3110164653core:NetGoodwill2022-06-0110164653core:IntangibleAssetsOtherThanGoodwill2022-06-0110164653core:LandBuildings2022-06-0110164653core:PlantMachinery2022-06-0110164653core:Vehicles2022-06-0110164653core:FurnitureFittings2022-06-0110164653core:OfficeEquipment2022-06-0110164653core:AfterOneYear2022-06-0110164653core:WithinOneYear2022-06-0110164653core:ListedExchangeTraded2022-06-0110164653core:UnlistedNon-exchangeTraded2022-06-0110164653core:ShareCapital2022-06-0110164653core:SharePremium2022-06-0110164653core:RevaluationReserve2022-06-0110164653core:OtherReservesSubtotal2022-06-0110164653core:RetainedEarningsAccumulatedLosses2022-06-0110164653core:AfterOneYear2023-06-012024-05-3110164653core:WithinOneYear2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:CostValuation2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-06-012024-05-3110164653core:Non-currentFinancialInstrumentscore:CostValuation2024-05-3110164653core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-05-3110164653core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-05-3110164653core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-05-3110164653core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-05-3110164653core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-05-3110164653core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-05-3110164653core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-05-3110164653core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-05-3110164653core:Non-currentFinancialInstrumentscore:CostValuation2023-05-3110164653core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-05-3110164653core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-05-3110164653core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-05-3110164653core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-05-3110164653core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-05-3110164653core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-05-3110164653core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-05-3110164653core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-05-3110164653bus:Director12023-06-012024-05-3110164653bus:Director22023-06-012024-05-31

SGL7 LTD

Registered Number
10164653
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

SGL7 LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

CARTWRIGHT, Andrew Nicholas
CARTWRIGHT, Anne Colette

Company Secretary

CARTWRIGHT, Anne Colette

Registered Address

4 Glasshouse Studios Fryern Court Road
Burgate
Fordingbridge
SP6 1QX

Registered Number

10164653 (England and Wales)
SGL7 LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks43,125,0001,727,764
Debtors52,208102,488
Cash at bank and on hand134110,875
3,127,3421,941,127
Creditors amounts falling due within one year6(152,964)(136,778)
Net current assets (liabilities)2,974,3781,804,349
Total assets less current liabilities2,974,3781,804,349
Creditors amounts falling due after one year7(2,971,625)(2,222,306)
Net assets2,753(417,957)
Capital and reserves
Called up share capital22
Profit and loss account2,751(417,959)
Shareholders' funds2,753(417,957)
The financial statements were approved and authorised for issue by the Board of Directors on 30 December 2024, and are signed on its behalf by:
CARTWRIGHT, Andrew Nicholas
Director
CARTWRIGHT, Anne Colette
Director

Registered Company No. 10164653
SGL7 LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets
4.Stocks

2024

2023

££
Work in progress-1,727,764
Finished goods3,125,000-
Total3,125,0001,727,764
5.Debtors: amounts due within one year

2024

2023

££
Other debtors2,208102,488
Total2,208102,488
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables7,73212,435
Other creditors117,260124,343
Accrued liabilities and deferred income27,972-
Total152,964136,778
7.Creditors: amounts due after one year

2024

2023

££
Other creditors2,971,6252,222,306
Total2,971,6252,222,306
8.Controlling party
The controlling party is Monty Management Ltd.