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Registration number: 13274965

SB Group Holdings Limited

Annual Report and Consolidated Financial Statements

for the Year Ended 30 November 2024

 

SB Group Holdings Limited

Contents

Company Information

1

Strategic Report

2

Director's Report

3

Accountants' Report

4

Statement of Director's Responsibilities

5

Consolidated Balance Sheet

6 to 7

Balance Sheet

8

Consolidated Statement of Changes in Equity

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11 to 18

 

SB Group Holdings Limited

Company Information

Director

Gavin Sahota

Registered office

Epsilon House West Road, Ransomes Industrial Estate
Ipswich
IP3 9FJ

 

SB Group Holdings Limited

Strategic Report for the Year Ended 30 November 2024

The director presents the strategic report for the year ended 30 November 2024.

Principal activity

The principal activity of the group is Unlicensed restaurants and cafes

Fair review of the business

The director is satisfied with the performance of the group.

Principal risks and uncertainties

The Board is responsible for setting the Group’s risk appetite and ensuring that appropriate risk management systems are in place. The Board reviews the Group’s principal risks throughout the year as part of its normal agenda, adopting an integrated approach to risk management by regularly discussing the principal risks as a part of key agenda items.

Approved by the director on 31 January 2025 and signed on its behalf by:

.........................................
Gavin Sahota
Director

   
     
 

SB Group Holdings Limited

Director's Report for the Year Ended 30 November 2024

The report and the for the year ended 30 November 2024.

Director of the group

The director who held office during the year was as follows:

Gavin Sahota

Financial instruments

Price risk, credit risk, liquidity risk and cash flow risk

There is no risk of going concern for foreseeable future.

Approved by the director on 31 January 2025 and signed on its behalf by:

.........................................
Gavin Sahota
Director

   
     
 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SB Group Holdings Limited
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SB Group Holdings Limited for the year ended 30 November 2024 as set out on pages from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that SB Group Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SB Group Holdings Limited. You consider that SB Group Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SB Group Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Milton Accountants Ltd
Chartered Certified Accountants
863 High Street
Ilford
IG3 8TG

31 January 2025

 

SB Group Holdings Limited

Statement of Director's Responsibilities

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable to ensure that the financial statements comply with the Companies Act 2006. also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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.

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

SB Group Holdings Limited

(Registration number: 13274965)
Consolidated Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

9

61,953

72,684

Tangible assets

10

1,502,925

1,688,106

 

1,564,878

1,760,790

Current assets

 

Stocks

66,738

54,804

Debtors

11

551,656

765,293

Cash at bank and in hand

 

639,577

104,011

 

1,257,971

924,108

Creditors: Amounts falling due within one year

13

(525,259)

(856,655)

Net current assets

 

732,712

67,453

Total assets less current liabilities

 

2,297,590

1,828,243

Creditors: Amounts falling due after more than one year

13

(3,117,694)

(3,195,981)

Net liabilities

 

(820,104)

(1,367,738)

Capital and reserves

 

Called up share capital

14

100

100

Retained earnings

(820,204)

(1,367,838)

Equity attributable to owners of the company

 

(820,104)

(1,367,738)

Shareholders' deficit

 

(820,104)

(1,367,738)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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.

Approved and authorised by the director on 31 January 2025
 

 

SB Group Holdings Limited

(Registration number: 13274965)
Consolidated Balance Sheet as at 30 November 2024

.........................................
Gavin Sahota
Director

   
     
 

SB Group Holdings Limited

(Registration number: 13274965)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges 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.

Approved and authorised by the director on 31 January 2025
 

.........................................
Gavin Sahota
Director

   
     
 

SB Group Holdings Limited

Consolidated Statement of Changes in Equity for the Year Ended 30 November 2024
Equity attributable to the parent company

Share capital
£

Retained earnings
£

Total
£

Total equity
£

At 1 December 2023

100

(1,398,164)

(1,398,064)

(1,398,064)

Profit for the year

-

577,960

577,960

577,960

At 30 November 2024

100

(820,204)

(820,104)

(820,104)

 

SB Group Holdings Limited

Statement of Changes in Equity for the Year Ended 30 November 2024

Share capital
£

Total
£

At 1 December 2023

100

100

At 30 November 2024

100

100

Share capital
£

Total
£

At 1 December 2022

100

100

At 30 November 2023

100

100

 

SB Group Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

1

General information

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

The address of its registered office is:
Epsilon House West Road, Ransomes Industrial Estate
Ipswich
IP3 9FJ
England

These financial statements were authorised for issue by the director on 31 January 2025.

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

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.

Basis of consolidation

The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 30 November 2024.

 

SB Group Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.

The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.

Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.

Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.

Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.

Going concern

The financial statements have been prepared 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 group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.

The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.

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.

 

SB Group Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

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

33.33% Straight Line

Furniture and fittings

10% Reducing Balance Method

Motor vehicles

20% Straight Line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other Intangible assets

10% Straight Line

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 group will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 group 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.

 

SB Group Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 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 group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 group 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

Turnover

The analysis of the group's turnover for the year from continuing operations is as follows:

2024
£

2023
£

Sale of goods

9,354,327

8,611,847

4

Operating profit/(loss)

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

177,900

431,635

Amortisation expense

10,731

17,316

Operating lease expense - other

9,414

4,145

 

SB Group Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

5

Interest payable and similar expenses

2024
£

2023
£

Interest on bank overdrafts and borrowings

67,353

49,265

6

Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

2024
£

2023
£

Wages and salaries

2,302,164

2,301,706

Social security costs

135,895

127,381

Pension costs, defined contribution scheme

28,815

29,917

2,466,874

2,459,004

The average number of persons employed by the group (including the director) during the year, analysed by category was as follows:

2024
No.

2023
No.

Administration and support

142

175

142

175

7

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

38,333

36,000

8

Taxation

9

Intangible assets

Group

 

SB Group Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Other intangible assets
 £

Total
£

Cost or valuation

At 1 December 2023

107,316

107,316

At 30 November 2024

107,316

107,316

Amortisation

At 1 December 2023

34,632

34,632

Amortisation charge

10,731

10,731

At 30 November 2024

45,363

45,363

Carrying amount

At 30 November 2024

61,953

61,953

At 30 November 2023

72,684

72,684

10

Tangible assets

Group

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

3,573,932

19,363

66,474

3,659,769

At 30 November 2024

3,573,932

19,363

66,474

3,659,769

Depreciation

At 1 December 2023

1,927,887

18,890

31,695

1,978,472

Charge for the year

164,604

473

13,295

178,372

At 30 November 2024

2,092,491

19,363

44,990

2,156,844

Carrying amount

At 30 November 2024

1,481,441

-

21,484

1,502,925

At 30 November 2023

1,652,359

968

34,779

1,688,106

Company

 

SB Group Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

Office equipment
£

Total
£

Cost or valuation

At 1 December 2023

1,418

1,418

At 30 November 2024

1,418

1,418

Depreciation

At 1 December 2023

945

945

Charge for the year

473

473

At 30 November 2024

1,418

1,418

Carrying amount

At 30 November 2024

-

-

At 30 November 2023

473

473

11

Debtors

 

Group

Company

Current

2024
£

2023
£

2024
£

2023
£

Trade debtors

-

7,228

-

-

Other debtors

530,405

720,684

22,327

35,308

Prepayments

21,251

37,381

-

-

 

551,656

765,293

22,327

35,308

12

Cash and cash equivalents

 

Group

Company

2024
£

2023
£

2024
£

2023
£

Cash on hand

11,013

9,066

-

-

Cash at bank

628,564

94,945

5,514

5,677

639,577

104,011

5,514

5,677

13

Creditors

   

Group

Company

Note

2024
£

2023
£

2024
£

2023
£

 

SB Group Holdings Limited

Notes to the Financial Statements for the Year Ended 30 November 2024

   

Group

Company

Note

2024
£

2023
£

2024
£

2023
£

Due within one year

 

Trade creditors

 

258,938

370,381

13,134

32,999

Social security and other taxes

 

235,352

457,935

5,647

1,819

Outstanding defined contribution pension costs

 

6,879

4,243

777

853

Other payables

 

846

-

846

-

Accruals

 

23,244

24,096

250

250

 

525,259

856,655

20,654

35,921

Due after one year

 

Loans and borrowings

15

816,750

660,785

-

-

Other non-current financial liabilities

 

2,300,944

2,535,196

7,085

5,435

 

3,117,694

3,195,981

7,085

5,435

14

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

15

Loans and borrowings

Non-current loans and borrowings

 

Group

Company

2024
£

2023
£

2024
£

2023
£

Bank borrowings

816,750

660,785

-

-