Company Registration No. 05154154 (England and Wales)
STRATEGIC GLOBAL INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
STRATEGIC GLOBAL INVESTMENTS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
STRATEGIC GLOBAL INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
330,521
161,521
Current assets
Debtors
5
13
Cash at bank and in hand
50,040
63,773
50,040
63,786
Creditors: amounts falling due within one year
6
(500,836)
(504,677)
Net current liabilities
(450,796)
(440,891)
Total assets less current liabilities
(120,275)
(279,370)
Creditors: amounts falling due after more than one year
7
(2,906,567)
(2,906,567)
Net liabilities
(3,026,842)
(3,185,937)
Capital and reserves
Called up share capital
132,500
132,500
Share premium account
75,000
75,000
Profit and loss reserves
(3,234,342)
(3,393,437)
Total equity
(3,026,842)
(3,185,937)
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
STRATEGIC GLOBAL INVESTMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 February 2025 and are signed on its behalf by:
M J Coleman
S H Davis
Director
Director
Company Registration No. 05154154
STRATEGIC GLOBAL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
Strategic Global Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is .
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared on the historical cost convention except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
The company is dependent on financial support from related parties who have confirmed that support will continue in the foreseeable future. The directors have also reviewed current available resources and cash flow requirements for twelve months from the date of signing the financial statements and they have concluded that the company will be able to meet its obligations during this period.
Accordingly the directors have concluded that the company can continue to adopt the going concern basis in preparing the financial statements.
1.3
Fixed asset investments
Investments in listed and unlisted company shares have been classified as fixed asset investments as the company intends to hold them on a continuing basis.
Listed investments are remeasured to market value at each balance sheet date. Unlisted investments are not listed and are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date.
Gains and losses on re-measurement are recognised in profit or loss for the period.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
STRATEGIC GLOBAL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method less any impairment.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or the risks and rewards of ownership are transferred.
Basic financial Liabilities
Basic financial liabilities, including trade and other payables, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.8
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
STRATEGIC GLOBAL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
2
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 estimates 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 where 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.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
330,521
161,521
Fixed asset investments revalued
Included in Other investments is a listed investment which has been valued on the basis of open market value by reference to the average closing price on the Tel Aviv stock exchange to £203,000 (2023: £34,000) as at 30 June 2024. The original book cost was £650,000.
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 July 2023
161,521
Valuation changes
169,000
At 30 June 2024
330,521
Carrying amount
At 30 June 2024
330,521
At 30 June 2023
161,521
STRATEGIC GLOBAL INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
13
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
500,836
504,677
Other creditors include £235,339 (2023: £235,339) owed to M J Coleman, and £6,500 (2023: £5,719) owed to S H Davis, for business expenses incurred on behalf of the company.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,906,567
2,906,567
Included within other creditors due after more than one year of:
- £1,415,976 (2023: £1,415,976) owed to Unitguide Limited, a company with directors in common. Of this, £1,004,375 is unsecured and carried interest of between 2 and 4 per cent above the HSBC Bank PLC base rate. The loan is repayable at any time after 30 June 2020.
- £1,226,508 (2023: £1,226,508) owed to SDA Retirement and Death Benefit Scheme, of which S H Davis is a trustee. This is unsecured and carried interest of between 2 and 4 per cent above the HSBC Bank PLC base rate. The loan is repayable on demand at any time after 30 June 2020.
- £264,083 (2023: £264,083) owed to S H Davis. This is unsecured and carried interest of between 2 and 4 per cent above the HSBC Bank PLC base rate. The loan is repayable on demand at any time after 30 June 2020.
8
Deferred taxation
A potential deferred tax asset arising based on the fall in the fair value of the listed investments, computed at £278,333 has been ignored.
9
Events after the reporting date
Since June 2024, global equity markets have experienced significant volatility. At the date these financial statements were authorised for issue, the fair value of the listed investments declined by 31% to £140,000. This is a non-adjusting event and is not reflected in the financial statements as at 30 June 2024.