SDG Group UK&I Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

SDG Group UK&I Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05084262 . The registered office is Tower 42 (Floor 11b), 25 Old Broad Street, London, EC2N 1HQ.

The accounting period has been shortened to 31 December 2023. The purpose of this was to match the year end with the rest of the group that SDG UK&I Ltd are a part of.

This accounting period is therefore 6 months long while the comparitive period is 12 months. This accounting period is therefore not wholly comparable to the prior period

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% on cost
Fixtures & Fittings	20% on cost
Computer Equipment	20% on cost

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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SDG Group UK&I Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 41 (2023: 38)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 January 2024	96,874
Additions	10,570

As at 31 December 2024	107,444

Depreciation
As at 1 January 2024	44,657
Provided during the period	15,725

As at 31 December 2024	60,382

Net Book Value
As at 31 December 2024	47,062

As at 1 January 2024	52,217

5. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Trade debtors	1,362,575	1,371,860
Prepayments and accrued income	159,322	106,055
Other debtors	175,557	166,926
Deferred tax current asset	185,000	-

	1,882,454	1,644,841

6. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Trade creditors	178,886	262,286
Other taxes and social security	259,230	240,356
Other creditors	104,669	24,924
Accruals and deferred income	518,783	190,017

	1,061,568	717,583

7. Creditors: Amounts Falling Due After More Than One Year

	31 December 2024	31 December 2023
	£	£
Amounts owed to group undertakings	960,000	487,799

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SDG Group UK&I Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Share Capital

	31 December 2024	31 December 2023
	£	£
Allotted, Called up and fully paid	200	200

9. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	31 December 2024	31 December 2023
	£	£
Later than one year and not later than five years	308,193	642,727

	308,193	642,727

10. Related Party Transactions

During the year, the company recharged expenses to SDG Consulting Italia SpA for £11,421 (period to 31 December 2023: £28,353).

During the year, the company recharged expenses to SDG Consulting Espana S.A.U for £403,459 (period to 31 December 2023: £47,726).

During the year, the company recharged expenses to Alten Nederlands for £179,649 (period to 31 December 2023: £nil).

During the year, the company incurred management charges to SDG Group Srl for £22,772 (period to 31 December 2023: £11,187).

The company incurred consultancy fees from SDG Consulting Italia SpA of £418,226 during the year (period to 31 December 2023: £132,562). The company incurred consultancy fees from SDG Consulting Espana S.A.U of £409,043 during the year (period to 31 December 2023: £62,917). The company incurred consultancy fees from SDG Consulting Portugal of £7,952 during the year (period to 31 December 2023: £4,523).

At 31 December 2024 the company was owed £nil (period to 31 December 2023: £28,353) from SDG Consulting Italia SpA, £31,050 (period to 31 December 2023: £113,116) from SDG Consulting Espana S.A.U. and £11,805 (period to 31 December 2023: £14,122) from Alten Nederlands.

At 31 December 2024 the company owed £19,722 (period to 31 December 2023: £61,141) to SDG Consulting Italia SpA, £34,808 (period to 31 December 2023: £22,280) to SDG Consulting Espana S.A.U, £2,356 (period to 31 December 2023: £nil) to SDG Consulting Portugal and £28,147 (period to 31 December 2023: £nil) to SDG Group Srl.

At 31 December 2024, there were loans of £nil due to SDG Group Srl (period to 31 December 2023: £412,799 or €475,000). Interest charged on these loans during the year amounted to £28,137 (period to 31 December 2023: £2,192). This loan was repaid during the year.

At 31 December 2024, there were loans of £nil due to Alten SA (period to 31 December 2023: £75,000). Interest charged on these loans during the year amounted to £10,295 (period to 31 December 2023: £1,234). This loan was repaid during the year.

At 31 December 2024, there were loans of £960,000 due to Alten SA (period to 31 December 2023: £nil). Interest charged on these loans during the year amounted to £13,243.

At 31 December 2024, included in other creditors the company owed £77,283 (period to 31 December 2023: £nil) due to Alten SA. There is no interest charged on this loan.

11. FRC's Ethical Standard - Provision Available for Small Entities

Although a provision exists to allow the auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements, the directors have appointed accountants to assist with the non-audit activities.

12. Ultimate Controlling Party

The company's ultimate controlling party is Alten SA a company registered in France.

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SDG Group UK&I Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Audit Information

The auditor's report on the accounts of SDG Group UK&I Ltd for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by David Cox (Senior Statutory Auditor) for and on behalf of Cox & Co (Accountancy) Limited , Statutory Auditor.

Cox & Co (Accountancy) Limited

The Granary

High Street

Turvey

Bedfordshire

MK43 8DB

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		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		47,062		52,217

			47,062		52,217
CURRENT ASSETS
Debtors	5	1,882,454		1,644,841
Cash at bank and in hand		359,484		339,343

		2,241,938		1,984,184
Creditors: Amounts Falling Due Within One Year	6	(1,061,568 )		(717,583 )

NET CURRENT ASSETS (LIABILITIES)			1,180,370		1,266,601

TOTAL ASSETS LESS CURRENT LIABILITIES			1,227,432		1,318,818

Creditors: Amounts Falling Due After More Than One Year	7		(960,000 )		(487,799 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(11,500 )		(13,000 )

NET ASSETS			255,932		818,019

CAPITAL AND RESERVES
Called up share capital	8		200		200
Profit and Loss Account			255,732		817,819

SHAREHOLDERS' FUNDS			255,932		818,019