IRIS Accounts Production v24.3.2.46 13198505 Board of Directors 1.4.24 31.12.24 31.12.24 Medium entities a restaurant true true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh131985052024-03-31131985052024-12-31131985052024-04-012024-12-31131985052023-03-31131985052023-04-012024-03-31131985052024-03-3113198505ns15:EnglandWales2024-04-012024-12-3113198505ns14:PoundSterling2024-04-012024-12-3113198505ns10:Director12024-04-012024-12-3113198505ns10:PrivateLimitedCompanyLtd2024-04-012024-12-3113198505ns10:MediumEntities2024-04-012024-12-3113198505ns10:Audited2024-04-012024-12-3113198505ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-04-012024-12-3113198505ns10:Medium-sizedCompaniesRegimeForAccounts2024-04-012024-12-3113198505ns10:FullAccounts2024-04-012024-12-311319850512024-04-012024-12-3113198505ns10:OrdinaryShareClass12024-04-012024-12-3113198505ns10:Director32024-04-012024-12-3113198505ns10:RegisteredOffice2024-04-012024-12-3113198505ns10:Director22024-04-012024-12-3113198505ns10:Director42024-04-012024-12-3113198505ns5:CurrentFinancialInstruments2024-12-3113198505ns5:CurrentFinancialInstruments2024-03-3113198505ns5:Non-currentFinancialInstruments2024-12-3113198505ns5:Non-currentFinancialInstruments2024-03-3113198505ns5:ShareCapital2024-12-3113198505ns5:ShareCapital2024-03-3113198505ns5:RetainedEarningsAccumulatedLosses2024-12-3113198505ns5:RetainedEarningsAccumulatedLosses2024-03-3113198505ns5:ShareCapital2023-03-3113198505ns5:RetainedEarningsAccumulatedLosses2023-03-3113198505ns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3113198505ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-3113198505ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-3113198505ns5:RetainedEarningsAccumulatedLosses2024-04-012024-12-3113198505ns5:FurtherSpecificReserve1ComponentTotalEquity2024-12-3113198505ns5:NetGoodwill2024-04-012024-12-3113198505ns5:IntangibleAssetsOtherThanGoodwill2024-04-012024-12-3113198505ns5:LeaseholdImprovements2024-04-012024-12-3113198505ns5:PlantMachinery2024-04-012024-12-3113198505ns5:FurnitureFittings2024-04-012024-12-3113198505ns5:ComputerEquipment2024-04-012024-12-311319850512024-04-012024-12-3113198505ns5:ReportableOperatingSegment12024-04-012024-12-3113198505ns5:ReportableOperatingSegment12023-04-012024-03-3113198505ns5:ReportableOperatingSegment22024-04-012024-12-3113198505ns5:ReportableOperatingSegment22023-04-012024-03-3113198505ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2024-04-012024-12-3113198505ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2023-04-012024-03-3113198505ns10:HighestPaidDirector2024-04-012024-12-3113198505ns5:OwnedAssets2024-04-012024-12-3113198505ns5:OwnedAssets2023-04-012024-03-3113198505ns5:NetGoodwill2023-04-012024-03-3113198505112024-04-012024-12-3113198505112023-04-012024-03-311319850542024-04-012024-12-311319850542023-04-012024-03-3113198505ns5:HirePurchaseContracts2024-04-012024-12-3113198505ns5:HirePurchaseContracts2023-04-012024-03-3113198505ns5:NetGoodwill2024-03-3113198505ns5:NetGoodwill2024-12-3113198505ns5:NetGoodwill2024-03-3113198505ns5:LeaseholdImprovements2024-03-3113198505ns5:PlantMachinery2024-03-3113198505ns5:FurnitureFittings2024-03-3113198505ns5:ComputerEquipment2024-03-3113198505ns5:LeaseholdImprovements2024-12-3113198505ns5:PlantMachinery2024-12-3113198505ns5:FurnitureFittings2024-12-3113198505ns5:ComputerEquipment2024-12-3113198505ns5:LeaseholdImprovements2024-03-3113198505ns5:PlantMachinery2024-03-3113198505ns5:FurnitureFittings2024-03-3113198505ns5:ComputerEquipment2024-03-3113198505ns5:CostValuation2024-03-3113198505ns5:Subsidiary12024-04-012024-12-31131985051ns5:Subsidiary12024-04-012024-12-3113198505ns5:Subsidiary12024-12-3113198505ns5:Subsidiary12024-03-3113198505ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3113198505ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3113198505ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-03-3113198505ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-12-3113198505ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-03-3113198505ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-12-3113198505ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-03-3113198505ns5:HirePurchaseContracts2024-12-3113198505ns5:HirePurchaseContracts2024-03-3113198505ns5:WithinOneYear2024-12-3113198505ns5:WithinOneYear2024-03-3113198505ns5:BetweenOneFiveYears2024-12-3113198505ns5:BetweenOneFiveYears2024-03-3113198505ns5:MoreThanFiveYears2024-12-3113198505ns5:MoreThanFiveYears2024-03-3113198505ns5:AllPeriods2024-12-3113198505ns5:AllPeriods2024-03-3113198505ns5:Secured2024-12-3113198505ns5:Secured2024-03-3113198505ns5:DeferredTaxation2024-03-3113198505ns5:DeferredTaxation2024-12-3113198505ns10:OrdinaryShareClass12024-12-3113198505ns5:RetainedEarningsAccumulatedLosses2024-03-3113198505ns5:FurtherSpecificReserve1ComponentTotalEquity2024-03-31
REGISTERED NUMBER: 13198505 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

FOR

SOUTHERN WIND GROUP LIMITED

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 5

Statement of Directors' Responsibilities 6

Report of the Independent Auditors 7

Income Statement 11

Other Comprehensive Income 12

Balance Sheet 13

Statement of Changes in Equity 15

Cash Flow Statement 16

Notes to the Cash Flow Statement 17

Notes to the Financial Statements 19


SOUTHERN WIND GROUP LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024







DIRECTORS: T A Langley
T Maunier





REGISTERED OFFICE: Suite 1a
17 Old Leeds Road
Huddersfield
West Yorkshire
HD1 1SG





REGISTERED NUMBER: 13198505 (England and Wales)





AUDITORS: Azets Audit Services Limited
Triune Court
Monks Cross Drive
York
YO32 9GZ

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

STRATEGIC REPORT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

The directors present their strategic report for the period ended 31 December 2024; however, these financial statements have been prepared to include trading for the period to 29 December 2024, being the closest week end reporting date.

The company operates within the hospitality sector as a premium restaurant business. Incorporated on 12 February 2021, its principal activity remains unchanged.

The company amended its accounting period from a 31 March year-end to a 31 December year-end, resulting in a nine-month reporting period.

REVIEW OF BUSINESS
Turnover for the period was £20,927,896 (Mar-2024 - £27,235,164) and pre-tax loss was £296,564 (Mar-2024 - £814). The company's gross profit percentage of 67% falls within the industry recognised standard of 60-70%.

Fazenda was founded in 2010 and was established as the premier South American style steakhouse of the UK. The company's aim is to continue to provide the highest quality service to ensure its guests enjoy a unique dining experience.

During the period under review, the company underwent a share acquisition, resulting in a change in ownership structure. This aligns with the company's strategic objectives and is expected to support long-term growth and financial stability.

The acquisition has had no significant operational disruptions, and management continues to focus on enhancing stakeholder value, streamlining operations, and exploring strategic expansion opportunities.

Despite challenging market conditions, the company maintained a strong market position. Key financial strategies, including pricing adjustments, operational efficiencies, and a focus on guest experience, have provided a stable foundation for future growth.

FUTURE DEVELOPMENTS
The Board remains confident that the unique appeal and strong market positioning of its offerings will continue to drive success. They are actively pursuing opportunities for further expansion and will take advantage of these opportunities should suitable sites become available, ensuring sustainable growth and enhanced market presence.


SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

STRATEGIC REPORT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The hospitality industry faces ongoing challenges, particularly in maintaining high service levels and differentiating the brand in an increasingly competitive market. To mitigate these challenges, the company prioritises exceptional guest experiences, continuous staff training, and strategic marketing initiatives to strengthen brand loyalty and market positioning.

Additionally, rising labour costs, driven by government-mandated increases to the National Minimum and Living Wage, along with supply chain pressures and escalating costs of produce and utilities, pose significant challenges. To mitigate these risks, the company actively manages pricing strategies, strengthens supplier relationships, and enhances operational efficiencies to maintain profitability while ensuring high-quality service standards.

The Board remains vigilant in identifying risks and ensuring the business remains agile in response to market conditions. The Board closely monitors monthly management accounts and KPIs to adjust business strategy accordingly.

KEY PERFORMANCE INDICATORS
Management monitors both financial and non-financial KPIs to assess business performance:


December 2024 March 2024

Turnover (£   ) 20,928 27,235
Gross Margin 67% 66%
Operating Profit/(Loss) (£   ) (35) 616

In addition to financial performance, the company closely monitors key non-financial indicators, such as customer feedback and satisfaction ratings, social media engagement and rankings, labour costs as a percentage of sales and covers per day. These metrics provide valuable insights into operational efficiency, brand reputation, and overall guest experience, enabling data-driven decision-making to support long-term success.


SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

STRATEGIC REPORT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

STRATEGY
The company's core strategy is to distinguish its restaurants by delivering an exceptional dining experience that reflects its founders' traditional South American Gaúcho heritage. This is achieved through continuous investment in high-quality furnishings, ambience, and aesthetics, ensuring each restaurant meets the highest standards.

The company places strong emphasis on staff development, providing comprehensive training programmes to uphold service excellence and reinforce the brand's cultural identity. Supported by the senior management team, the directors implement robust procurement systems to secure the highest quality produce at competitive prices, ensuring both operational efficiency and sustained profitability across all locations.

ON BEHALF OF THE BOARD:





T Maunier - Director


27 February 2025

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

REPORT OF THE DIRECTORS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

The directors present their report with the financial statements of the company for the period 1 April 2024 to 31 December 2024.

DIVIDENDS
No dividends will be distributed for the period ended 31 December 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

T A Langley
T Maunier

Other changes in directors holding office are as follows:

J R Coubrough - resigned 17 July 2024
G Samples - resigned 17 July 2024

EMPLOYEE INVOLVEMENT
The Board considers a loyal and highly skilled work force is essential to the future of the business and is committed to training and employee development. Considerable value is placed on employee involvement, and the Board continues to maintain its policy of effective communication with employees on matters affecting them or the various factors affecting the performance of the Company. It is the policy of the Board to give full and fair consideration to applications made by disabled persons for job vacancies where particular requirements are within their ability. Wherever possible, arrangements are made for continuing employment of employees who have become disabled.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditor, Azets Audit Services Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





T Maunier - Director


27 February 2025

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

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

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOUTHERN WIND GROUP LIMITED

Opinion
We have audited the financial statements of Southern Wind Group Limited (the 'company') for the period ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOUTHERN WIND GROUP LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page six, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOUTHERN WIND GROUP LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was capable of identifying irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

· Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
· Reviewing minutes of meetings of those charged with governance;
· Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
· Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
· Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias;
· Performing audit work over the timing and recognition of revenue and in particular whether it has been recorded in the correct accounting period.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the overide of internal control.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SOUTHERN WIND GROUP LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Chris Woodroffe (Senior Statutory Auditor)
for and on behalf of Azets Audit Services Limited
Triune Court
Monks Cross Drive
York
YO32 9GZ

27 February 2025

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

INCOME STATEMENT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

Period
1.4.24
to Year ended
31.12.24 31.3.24
Notes £    £   

TURNOVER 4 20,927,896 27,235,164

Cost of sales (6,941,836 ) (9,177,834 )
GROSS PROFIT 13,986,060 18,057,330

Administrative expenses (14,101,034 ) (17,499,323 )
(114,974 ) 558,007

Other operating income 5 80,290 57,636
OPERATING (LOSS)/PROFIT 7 (34,684 ) 615,643

Interest receivable and similar income 6,125 6,784
(28,559 ) 622,427

Interest payable and similar expenses 8 (268,005 ) (621,613 )
(LOSS)/PROFIT BEFORE TAXATION (296,564 ) 814

Tax on (loss)/profit 9 (173,563 ) 255,126
(LOSS)/PROFIT FOR THE FINANCIAL
PERIOD

(470,127

)

255,940

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

OTHER COMPREHENSIVE INCOME
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

Period
1.4.24
to Year ended
31.12.24 31.3.24
Notes £    £   

(LOSS)/PROFIT FOR THE PERIOD (470,127 ) 255,940


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD

(470,127

)

255,940

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

BALANCE SHEET
31 DECEMBER 2024

2024 2024
Notes £    £   
FIXED ASSETS
Intangible assets 10 1,104,308 1,237,234
Tangible assets 11 4,585,408 4,818,126
Investments 12 1 1
5,689,717 6,055,361

CURRENT ASSETS
Stocks 13 562,658 477,265
Debtors 14 996,467 1,379,581
Cash at bank and in hand 3,391,989 1,344,668
4,951,114 3,201,514
CREDITORS
Amounts falling due within one year 15 (6,678,873 ) (7,518,203 )
NET CURRENT LIABILITIES (1,727,759 ) (4,316,689 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,961,958

1,738,672

CREDITORS
Amounts falling due after more than
one year

16

-

(1,505,502

)

PROVISIONS FOR LIABILITIES 20 (65,254 ) -
NET ASSETS 3,896,704 233,170

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

BALANCE SHEET - continued
31 DECEMBER 2024

2024 2024
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 21 1,000 1,000
Other reserves 22 4,133,661 -
Retained earnings 22 (237,957 ) 232,170
SHAREHOLDERS' FUNDS 3,896,704 233,170


The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





T Maunier - Director


SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 April 2023 1,000 (23,770 ) - (22,770 )

Changes in equity
Total comprehensive income - 255,940 - 255,940
Balance at 31 March 2024 1,000 232,170 - 233,170

Changes in equity
Total comprehensive income - (470,127 ) - (470,127 )
Increase in period - - 4,133,661 4,133,661
Balance at 31 December 2024 1,000 (237,957 ) 4,133,661 3,896,704

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

CASH FLOW STATEMENT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

Period
1.4.24
to Year ended
31.12.24 31.3.24
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 677,168 3,101,923
Interest paid (144,446 ) (589,106 )
Interest element of hire purchase
payments paid

(123,559

)

(32,507

)
Tax paid - 16,684
Net cash from operating activities 409,163 2,496,994

Cash flows from investing activities
Purchase of tangible fixed assets (155,072 ) (1,882,822 )
Interest received 6,125 6,784
Net cash from investing activities (148,947 ) (1,876,038 )

Cash flows from financing activities
New loans in year - 2,298,712
Loan repayments in year (1,347,015 ) (1,565,825 )
Capital repayments in year (343,125 ) (1,034,418 )
Movement on directors loan account 2,750 43,907
Amount withdrawn by directors (659,166 ) 145,166
Capital introduced from related party 4,133,661 -
Net cash from financing activities 1,787,105 (112,458 )

Increase in cash and cash equivalents 2,047,321 508,498
Cash and cash equivalents at beginning
of period

2

1,344,668

836,170

Cash and cash equivalents at end of
period

2

3,391,989

1,344,668

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

Period
1.4.24
to Year ended
31.12.24 31.3.24
£    £   
(Loss)/profit before taxation (296,564 ) 814
Depreciation charges 520,716 575,197
Finance costs 268,005 621,613
Finance income (6,125 ) (6,784 )
486,032 1,190,840
Increase in stocks (85,393 ) (30,839 )
Decrease/(increase) in trade and other debtors 272,055 (210,294 )
Increase in trade and other creditors 4,474 2,152,216
Cash generated from operations 677,168 3,101,923

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 December 2024
31.12.24 1.4.24
£    £   
Cash and cash equivalents 3,391,989 1,344,668
Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 1,344,668 836,170


SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE CASH FLOW STATEMENT
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

3. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1.4.24 Cash flow At 31.12.24
£    £    £   
Net cash
Cash at bank and in hand 1,344,668 2,047,321 3,391,989
1,344,668 2,047,321 3,391,989
Debt
Finance leases (343,125 ) 343,125 -
Debts falling due within 1 year (13,413 ) 13,413 -
Debts falling due after 1 year (1,333,602 ) 1,333,602 -
(1,690,140 ) 1,690,140 -
Total (345,472 ) 3,737,461 3,391,989

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

1. STATUTORY INFORMATION

Southern Wind Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements present information about the company as an individual undertaking and not about its group. The subsidiary undertaking of this company is dormant and immaterial to the group; accordingly, consolidated accounts have not been prepared.

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

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

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.

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.
Leasehold property - over the unexpired term of the lease
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the period 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charge to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. Any incentives received are recognised as a reduction to the expense recognised over the term of the lease.

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

GOING CONCERN
The directors have considered all factors, as part of their assessment of going concern. Although the current economic and political climate creates both cashflow and profitability risks for the company, the company continues to trade and is cash generative. Budgets and cashflows have been prepared using assumptions for customer demand and supply chain costs. These budgets and cashflows indicate a return to profitability and ongoing cash generation, consequently the directors believe on balance that the company has sufficient resources to enable trading to continue for a period of at least one year from the date of approval of the financial statements. Accordingly, these financial statements have been prepared on the going concern basis.

DEPOSITS AND GIFT VOUCHERS
Deposits and gift vouchers are held on the balance sheet as deferred income until the customer redeems their voucher or deposit against a qualifying product or service. All vouchers have a 12 month expiry from date of purchase at which point if they have not been redeemed, the revenue is released to the profit and loss account.

3. JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimated 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 period in which the estimate is revised when the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Depreciation
The depreciation policy has been set according to management's experience of the useful lives of a typical asset in each category, something which is reviewed annually. It is not considered practical to use a per unit basis to allocate depreciation without undue cost and therefore amounts are charged annually. The depreciation charged during the period was £387,790 (March 2024 - £394,554) which the directors feel is a fair reflection of the benefits derived from the consumption of the tangible fixed assets in use during the period.

Goodwill Amortisation
The amortisation policy has been set according to management's experience and knowledge of the industry in which they operate. Impairment of goodwill is considered annually by management and adjustments made where considered necessary. The amortisation charged during the period was £132,926 which the directors feel is a fair reflection of the benefits derived during the period.

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

4. TURNOVER

The turnover and loss (2024 - profit) before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

Period
1.4.24
to Year ended
31.12.24 31.3.24
£    £   
Food sales 15,385,691 20,116,787
Drink sales 5,542,205 7,118,377
20,927,896 27,235,164

All turnover is derived from operations in the United Kingdom.

5. OTHER OPERATING INCOME
Period
1.4.24
to Year ended
31.12.24 31.3.24
£    £   
Other income 80,290 57,636

6. EMPLOYEES AND DIRECTORS
Period
1.4.24
to Year ended
31.12.24 31.3.24
£    £   
Wages and salaries 7,879,362 9,962,061
Social security costs 628,316 792,767
Other pension costs 126,301 151,594
8,633,979 10,906,422

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

6. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the period was as follows:
Period
1.4.24
to Year ended
31.12.24 31.3.24

Directors 2 4
Head Office 23 22
Restaurant Staff 450 493
475 519

Period
1.4.24
to Year ended
31.12.24 31.3.24
£    £   
Directors' remuneration 273,871 196,919

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

Information regarding the highest paid director for the period ended 31 December 2024 is as follows:
Period
1.4.24
to
31.12.24
£   
Emoluments etc 147,084

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

7. OPERATING (LOSS)/PROFIT

The operating loss (2024 - operating profit) is stated after charging:

Period
1.4.24
to Year ended
31.12.24 31.3.24
£    £   
Depreciation - owned assets 387,790 394,554
Goodwill amortisation 132,926 180,643
Auditors' remuneration 28,750 27,400
Operating lease expenditure 990,290 1,232,188

8. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.4.24
to Year ended
31.12.24 31.3.24
£    £   
Bank loan interest 127,049 516,529
Other interest 17,397 72,577
Hire purchase 123,559 32,507
268,005 621,613

9. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the loss for the period was as follows:
Period
1.4.24
to Year ended
31.12.24 31.3.24
£    £   
Current tax:
UK corporation tax - 2,050

Deferred tax 173,563 (257,176 )
Tax on (loss)/profit 173,563 (255,126 )

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

9. TAXATION - continued

RECONCILIATION OF TOTAL TAX CHARGE/(CREDIT) INCLUDED IN PROFIT AND LOSS
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.4.24
to Year ended
31.12.24 31.3.24
£    £   
(Loss)/profit before tax (296,564 ) 814
(Loss)/profit multiplied by the standard rate of corporation tax in
the UK of 25% (2024 - 25%)

(74,141

)

204

Effects of:
Expenses not deductible for tax purposes 147,592 49,537
Other 100,112 (304,867 )
Total tax charge/(credit) 173,563 (255,126 )

10. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024
and 31 December 2024 1,993,889
AMORTISATION
At 1 April 2024 756,655
Amortisation for period 132,926
At 31 December 2024 889,581
NET BOOK VALUE
At 31 December 2024 1,104,308
At 31 March 2024 1,237,234

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

11. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2024 2,532,612 1,198,039 1,516,645 131,195 5,378,491
Additions 30,074 92,565 18,209 14,224 155,072
At 31 December 2024 2,562,686 1,290,604 1,534,854 145,419 5,533,563
DEPRECIATION
At 1 April 2024 104,124 198,968 223,813 33,460 560,365
Charge for period 103,885 118,683 147,129 18,093 387,790
At 31 December 2024 208,009 317,651 370,942 51,553 948,155
NET BOOK VALUE
At 31 December 2024 2,354,677 972,953 1,163,912 93,866 4,585,408
At 31 March 2024 2,428,488 999,071 1,292,832 97,735 4,818,126

12. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2024
and 31 December 2024 1
NET BOOK VALUE
At 31 December 2024 1
At 31 March 2024 1

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

12. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Southern Wind (Birmingham) Limited
Registered office: Suite 1a, 17 Old Leeds Road, Huddersfield, HD1 1SG
Nature of business: Dormant
%
Class of shares: holding
Ordinary £1 100.00
2024 2024
£    £   
Aggregate capital and reserves 1 1

13. STOCKS
2024 2024
£    £   
Stocks 562,658 477,265

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Trade debtors 630 97,654
Other debtors 563,853 793,353
Directors' current accounts - 2,750
Deferred tax asset - 108,309
Prepayments 431,984 377,515
996,467 1,379,581

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2024
£    £   
Other loans (see note 17) - 13,413
Hire purchase contracts (see note 18) - 171,225
Trade creditors 2,057,075 1,446,275
Social security and other taxes 245,982 548,030
VAT 819,407 765,857
Other creditors 2,533,457 3,189,410
Deferred income 424,550 437,630
Directors' current accounts - 659,166
Accrued expenses 598,402 287,197
6,678,873 7,518,203

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2024
£    £   
Other loans (see note 17) - 1,333,602
Hire purchase contracts (see note 18) - 171,900
- 1,505,502

17. LOANS

An analysis of the maturity of loans is given below:

2024 2024
£    £   
Amounts falling due within one year or on demand:
Other loans - 13,413

Amounts falling due between one and two years:
Other loans - 1-2 years - 1,333,602

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2024
£    £   
Net obligations repayable:
Within one year - 171,225
Between one and five years - 171,900
- 343,125

Non-cancellable operating leases
2024 2024
£    £   
Within one year 1,278,918 1,314,119
Between one and five years 4,320,812 4,624,043
In more than five years 13,796,091 14,642,831
19,395,821 20,580,993

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

18. LEASING AGREEMENTS - continued

The company has negotiated a rent free/discounted period within four of the agreements which have reduced the charges to the profit and loss account. The benefit of lease incentives received on each lease have been recognised on a straight-line basis over the life of each respective lease.

19. SECURED DEBTS

The following secured debts are included within creditors:

2024 2024
£    £   
Hire Purchase - 343,125
Other loans - 1,333,602
- 1,676,727

20. PROVISIONS FOR LIABILITIES
2024
£   
Deferred tax 65,254

Deferred
tax
£   
Balance at 1 April 2024 (108,309 )
Accelerated capital allowances (39,727 )
Losses carried forward 213,290
Balance at 31 December 2024 65,254

The deferred taxation provision is made up of £557,683 relating to the timing differences of Capital Allowances and £492,429 being taxation losses carried forward.

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2024
value: £    £   
1,000 Ordinary 1 1,000 1,000

Each class of share has full voting, dividend and capital distribution rights.

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

22. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 April 2024 232,170 - 232,170
Deficit for the period (470,127 ) (470,127 )
Increase in period - 4,133,661 4,133,661
At 31 December 2024 (237,957 ) 4,133,661 3,895,704

The parent company, Fogo de Chao (Holdings) Inc, made a non-interest bearing capital contribution to the company during the year. This is treated as a distribution and not an intercompany loan and hence there is not a requirement to repay this amount to Fogo de Chao (Holdings) Inc. The directors have considered the treatment of this balance and concluded the best treatment is to include the balance as a capital contribution within reserves.

23. ULTIMATE PARENT COMPANY

Fogo de Chao (Holdings) Inc, (incorporated in USA ) is regarded by the directors as being the company's ultimate parent company.

SOUTHERN WIND GROUP LIMITED (REGISTERED NUMBER: 13198505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2024 TO 31 DECEMBER 2024

24. RELATED PARTY DISCLOSURES

ATLAS DISPLAY (DHB) LIMITED AND G BECK
A company connected to G Beck, a shareholder of the company until 17 July 2024.
During the period Atlas Display (DHB) Limited recharged goods and services to the company at a cost of £217 (year to 31 March 2024 - £51,668).
A loan of £75,000 was repaid to Atlas Display (DHB) Limited on 17 July 2024.
A loan of £87,561 was repaid to G Beck on 17 July 2024. Interest of £nil (year to 31 March 2024 - £1,295) was paid during the period.

CHURCH PROPERTY HOLDINGS LIMITED
A company connected to T Langley, a director of the company
During the period Church Property Holdings Limited charged rent and service charges to the company of £24,290 (year to 31 March 2024 - £35,160), recharged goods and services of £61,258 (year to 31 March 2024 - £180,747) and charged fees and interest on a loan of £nil (year to 31 March 2024 - £182,740). The balance owing to Church Property Holdings Limited at 31 December 2024 and included in Trade Creditors was £1,770 (31 March 2024 - £11,516).

JMD KAPOW LIMITED
A shareholder of the company until 17 July 2024.
During the period JMD Kapow Limited charged interest on a loan of £3,524. (year to 31 March 2024 - £8,274).
The loan of £253,677 was repaid on 17 July 2024.

TOHEDA LIMITED
A shareholder of the company until 17 July 2024.
During the period Toheda Limited charged interst on a loan of £11,746 (year to 31 March 2024 - £33,790).
The loan of £416,380 was repaid on 17 July 2024.

J COUBROUGH
Director and shareholder until 17 July 2024.
A directors loan of £652,706 was repaid on 17 July 2024.
Interest of £2,127 (year to 31 March 2024 - £6,689) was paid during the period.

G SAMPLES
Director and shareholder until 17 July 2024.
A directors loan of £206,184 was repaid on 17 July 2024.
Interest of £nil (year to 31 March 2024 - £2,221) was paid during the period.