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Company No: 14366478 (England and Wales)

SANGFROID GROUP LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

SANGFROID GROUP LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SANGFROID GROUP LTD

BALANCE SHEET

As at 31 December 2024
SANGFROID GROUP LTD

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 4,422 5,329
Tangible assets 4 185,913 301,006
Investments 5 22,147 9,037
212,482 315,372
Current assets
Debtors 6 2,081,849 2,065,794
Cash at bank and in hand 799,253 1,283,663
2,881,102 3,349,457
Creditors: amounts falling due within one year 7 ( 1,702,485) ( 2,047,816)
Net current assets 1,178,617 1,301,641
Total assets less current liabilities 1,391,099 1,617,013
Provision for liabilities ( 44,003) ( 72,752)
Net assets 1,347,096 1,544,261
Capital and reserves
Called-up share capital 8 300 300
Profit and loss account 1,346,796 1,543,961
Total shareholder's funds 1,347,096 1,544,261

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Sangfroid Group Ltd (registered number: 14366478) were approved and authorised for issue by the Board of Directors on 19 April 2025. They were signed on its behalf by:

Mr H Hayes
Director
Mr J Hilton
Director
SANGFROID GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SANGFROID GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Sangfroid Group Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Generator Hub Kings Wharf, The Quay, Exeter, EX2 4AN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

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 company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company 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 company's activities.

Revenue is recognised on a proportionate basis where the income from a charter or contract directly reflects the percentage of charter completed or the percentage of contract costs incurred.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 3 years straight line
Vehicles 3 years straight line
Fixtures and fittings 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 5

3. Intangible assets

Development costs Total
£ £
Cost
At 01 January 2024 6,236 6,236
At 31 December 2024 6,236 6,236
Accumulated amortisation
At 01 January 2024 907 907
Charge for the financial year 907 907
At 31 December 2024 1,814 1,814
Net book value
At 31 December 2024 4,422 4,422
At 31 December 2023 5,329 5,329

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 January 2024 8,240 295,023 15,417 318,680
Additions 50,949 0 9,820 60,769
Disposals 0 ( 84,866) ( 1,166) ( 86,032)
At 31 December 2024 59,189 210,157 24,071 293,417
Accumulated depreciation
At 01 January 2024 2,348 12,636 2,690 17,674
Charge for the financial year 19,534 69,364 7,942 96,840
Disposals 0 ( 7,010) 0 ( 7,010)
At 31 December 2024 21,882 74,990 10,632 107,504
Net book value
At 31 December 2024 37,307 135,167 13,439 185,913
At 31 December 2023 5,892 282,387 12,727 301,006

5. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 100
Disposals ( 100)
At 31 December 2024 0
Carrying value at 31 December 2024 0
Carrying value at 31 December 2023 100

Investments in associates Other investments Total
£ £ £
Cost or valuation before impairment
At 01 January 2024 8,937 0 8,937
Additions 0 13,210 13,210
At 31 December 2024 8,937 13,210 22,147
Carrying value at 31 December 2024 8,937 13,210 22,147
Carrying value at 31 December 2023 8,937 0 8,937

6. Debtors

2024 2023
£ £
Trade debtors 1,806,053 1,338,633
Amounts owed by Group undertakings 142,721 57,140
Other debtors 133,075 670,021
2,081,849 2,065,794

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 986,205 945,370
Amounts owed to Group undertakings 0 100
Accruals and deferred income 369,263 541,646
Taxation and social security 329,519 544,169
Other creditors 17,498 16,531
1,702,485 2,047,816

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
300 Ordinary shares of £ 1.00 each (2023: nil shares) 300 0
Nil Ordinary A shares (2023: 99 shares of £ 1.00 each) 0 99
Nil Ordinary B shares (2023: 99 shares of £ 1.00 each) 0 99
Nil Ordinary C shares (2023: 99 shares of £ 1.00 each) 0 99
Nil Ordinary D shares (2023: 1 share of £ 1.00 ) 0 1
Nil Ordinary E shares (2023: 1 share of £ 1.00 ) 0 1
Nil Ordinary F shares (2023: 1 share of £ 1.00 ) 0 1
300 300

During the year, all the shares were reclassified as Ordinary shares.