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Registered number: 06481692
















SUMO HOLDINGS LIMITED




CONSOLIDATED FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024


































img0288.png


SUMO HOLDINGS LIMITED
REGISTERED NUMBER:06481692

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
536,299
550,277

Tangible assets
 6 
802,319
750,193

  
1,338,618
1,300,470

Current assets
  

Debtors: amounts falling due within one year
 8 
1,549,262
1,884,395

Cash at bank and in hand
  
340,050
101,298

  
1,889,312
1,985,693

Creditors: amounts falling due within one year
 9 
(1,468,768)
(1,444,656)

Net current assets
  
 
 
420,544
 
 
541,037

Total assets less current liabilities
  
1,759,162
1,841,507

Creditors: amounts falling due after more than one year
 10 
(193,321)
(220,880)

Provisions for liabilities
  

Deferred taxation
  
(188,987)
(162,527)

Net assets
  
1,376,854
1,458,100


Capital and reserves
  

Called up share capital 
  
1,160,001
1,160,001

Profit and loss account
  
216,853
298,099

  
1,376,854
1,458,100


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 May 2025.

Mr C Carnachan
Director

The notes on pages 3 to 15 form part of these financial statements.

Page 1


SUMO HOLDINGS LIMITED
REGISTERED NUMBER:06481692

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 7 
2,062,524
2,062,524

  
2,062,524
2,062,524

Current assets
  

Debtors: amounts falling due within one year
 8 
7,425
7,425

Cash at bank and in hand
  
1
1

  
7,426
7,426

Creditors: amounts falling due within one year
 9 
(671,134)
(671,134)

Net current liabilities
  
 
 
(663,708)
 
 
(663,708)

Total assets less current liabilities
  
1,398,816
1,398,816

  

  

Net assets
  
1,398,816
1,398,816


Capital and reserves
  

Called up share capital 
  
1,160,001
1,160,001

Profit and loss account
  
238,815
238,815

  
1,398,816
1,398,816


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 May 2025.


Mr C Carnachan
Director

The notes on pages 3 to 15 form part of these financial statements.
Page 2


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


GENERAL INFORMATION

SUMO Holdings Limited is a private company limited by shares, registered in England and Wales.  The registered office is Unit 8, Hayward Business Centre, New Lane, Havant, PO9 2NL.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.

The financial statements use British Pounds Sterling as the presentation currency, and are rounded to the nearest £1 throughout.

The following principal accounting policies have been applied:

 
2.2

BASIS OF CONSOLIDATION

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

GOING CONCERN

The Group generated a loss in the current year amounting to £81,246 (2023: profit of £338,101) and at the year-end date the Group had net assets of £1,376,854 (2023: £1,458,100) and net current assets of £420,544 (2023: £541,037).
Management has produced cashflow forecasts which cover a period of 12 months from the date of approval of the financial statements. These have been reviewed by the Board and demonstrate that the Group is anticipated to have sufficient funding available for the period considered. Therefore, the directors have concluded that it is appropriate to prepare the financial statements on a going concern basis.

Page 3


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (continued)

 
2.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

OPERATING LEASES: THE GROUP AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

LEASED ASSETS: THE GROUP AS LESSEE

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.7

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

Page 4


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (continued)

 
2.10

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.11

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of income and retained earnings over its useful economic life.
 
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.12

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (continued)


2.12
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
20% straight line
Plant and machinery
-
20% straight line
Motor vehicles
-
20% straight line
Fixtures and fittings
-
33% straight line
Office equipment
-
33% straight line
Computer equipment
-
33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.13

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (continued)

 
2.15

FINANCIAL INSTRUMENTS

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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 Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

  
2.16

LONG-TERM CONTRACTS

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses.
Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

 
2.17

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 7


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements have had the most significant effect on amounts recognised in the financial statements.
The turnover and costs are recognised on a percentage complete basis. As such, judgements are applied to determine the stage of completion and anticipated profit margins on each project. Management seek to ensure the accuracy of these estimates through regular and focused project-by-project consultation  and close monitoring of actual contract performance.
The useful economic life of goodwill has been estimated as 10 years and amortisation has been charged on this basis. 


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 96 (2023: 89).


5.


INTANGIBLE ASSETS

Group





Goodwill

£



COST


At 1 January 2024
960,324


Additions
86,263


Disposals
(788)



At 31 December 2024

1,045,799



AMORTISATION


At 1 January 2024
410,047


Charge for the year on owned assets
99,453



At 31 December 2024

509,500



NET BOOK VALUE



At 31 December 2024
536,299



At 31 December 2023
550,277



Page 8

SUMO HOLDINGS LIMITED



 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
 
  



6.


TANGIBLE FIXED ASSETS


Group







Leasehold improvements
Plant and machinery
Motor vehicles
Office equipment
Other fixed assets
Total

£
£
£
£
£
£



COST


At 1 January 2024
4,586
1,633,553
166,025
198,290
5,425
2,007,879


Additions
-
335,118
14,171
24,285
-
373,574


Disposals
-
(35,182)
(45,168)
(1,596)
(5,425)
(87,371)


Transfers between classes
-
27,482
(7,653)
(19,829)
-
-



At 31 December 2024

4,586
1,960,971
127,375
201,150
-
2,294,082



DEPRECIATION


At 1 January 2024
3,819
1,004,335
100,519
143,587
5,425
1,257,685


Charge for the year on owned assets
767
252,440
22,808
30,797
-
306,812


Disposals
-
(34,322)
(32,669)
(318)
(5,425)
(72,734)


Transfers between classes
-
27,482
(7,653)
(19,829)
-
-



At 31 December 2024

4,586
1,249,935
83,005
154,237
-
1,491,763



NET BOOK VALUE



At 31 December 2024
-
711,036
44,370
46,913
-
802,319



At 31 December 2023
767
629,218
65,506
54,702
-
750,193
Page 9

SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

           6.TANGIBLE FIXED ASSETS (CONTINUED)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
415,742
257,896

Motor vehicles
19,651
40,188

435,393
298,084



7.


FIXED ASSET INVESTMENTS

Company





Investments in subsidiary companies

£



COST


At 1 January 2024
2,062,524



At 31 December 2024
2,062,524





SUBSIDIARY UNDERTAKINGS


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

SUMO Services Limited
Unit 8 Hayward Business Centre, New Lane, Havant, Hampshire, PO9 2NL
Ordinary
100%
SUMO Geophysics Limited
Unit 8 Hayward Business Centre, New Lane, Havant, Hampshire, PO9 2NL
Ordinary
100%
A.D. Horner Limited
Unit 8 Hayward Business Centre, New Lane, Havant, Hampshire, PO9 2NL
Ordinary
100%
Phase Site Investigations Limited
Unit 8 Hayward Business Centre, New Lane, Havant, Hampshire, PO9 2NL
Ordinary
100%

Page 10


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
SUBSIDIARY UNDERTAKINGS (CONTINUED)

The aggregate of the share capital and reserves as at 31 December 2024 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

SUMO Services Limited
1,710,028
59,642

SUMO Geophysics Limited
318,825
56,975

A.D. Horner Limited
(67,927)
(100,329)

Phase Site Investigations Limited
26,883
(22,807)

A.D. Horner Limited and Phase Site Investigations Limited are indirect subsidiaries, with SUMO Services Limited and SUMO Geophysics Limited as their immediate parents respectively.

Page 11


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


DEBTORS

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
1,016,152
948,564
-
-

Amounts owed by group undertakings
-
322,348
7,425
7,425

Other debtors
-
12,114
-
-

Prepayments
294,988
216,017
-
-

Amounts recoverable on long-term contracts
238,122
385,352
-
-

1,549,262
1,884,395
7,425
7,425



9.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
96,858
86,210
-
-

Trade creditors
317,146
263,175
-
-

Amounts owed to group undertakings
294,256
258,546
671,134
671,134

Corporation tax
15,398
74,810
-
-

Other taxation and social security
432,189
429,331
-
-

Obligations under finance lease and hire purchase contracts
144,400
115,461
-
-

Other creditors
110,484
81,982
-
-

Accruals and deferred income
58,037
135,141
-
-

1,468,768
1,444,656
671,134
671,134


The invoice discounting facility, included within other creditors, is secured over the group's trade debtors. The obligations under finance lease and hire purchase contracts are secured on the assets to which they relate. Bank loans are secured over the fixed assets of the group.


10.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group
Group
2024
2023
£
£

Bank loans
36,751
117,194

Net obligations under finance leases and hire purchase contracts
156,570
103,686

193,321
220,880


The above net obligations under finance lease and hire purchase contracts are secured on the assets to which they relate. Bank loans are secured over the fixed assets of the group.

Page 12


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


DEFERRED TAXATION


Group



2024


£






At beginning of year
(162,527)


Charged to profit or loss
(26,460)



AT END OF YEAR
(188,987)







The provision for deferred taxation is made up as follows:

Group
Group
2024
2023
£
£

Accelerated capital allowances
191,806
176,195

Tax losses carried forward
(2,819)
(13,668)

188,987
162,527


12.


PENSION COMMITMENTS

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £130,961 (2023: £107,369). Contributions totalling £17,207 (2023: £18,684) were payable to the fund at the reporting date and are included in creditors.


13.


COMMITMENTS UNDER OPERATING LEASES

At 31 December 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2024
2023
£
£

Not later than 1 year
240,111
103,001

Later than 1 year and not later than 5 years
178,080
304,905

418,191
407,906

Page 13


SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

14.


RELATED PARTY TRANSACTIONS

During the year management charges of £433,408 (2023: £403,169) were charged to the Group by its ultimate parent, SUMO Limited. At the year-end £287,107  (2023: £251,398) was owed by the Group to SUMO Limited and £Nil (2023: £322,348) was owed by SUMO Limited to the Group.

At the year-end the Group owed SUMO Acquisitions Limited £7,148 (2023: £7,148).
During the year services of £26,800 (2023: £26,640) were invoiced to companies controlled by a Director, by SUMO Services Limited. At the year end SUMO Services Limited was owed £6,326 
(2023: £4,360) by these companies.
The Company has taken advantage of the exemption within FRS102 (section 33.1A) not to disclose
transactions or balances with entities which form part of the Group.


15.


CONTROLLING PARTY

The Company is a wholly owned subsidiary of SUMO Limited, a company registered in Guernsey, registered office address 2 Harbour View, The Albany, South Esplanade, St Peter Port, Guernsey, GY1 1SW. The ultimate controlling party was SUMO Limited.


16.
 

BUSINESS COMBINATIONS

ACQUISITION OF PHASE SITE INVESTIGATIONS LIMITED

On 30th September 2024, SUMO Geophysics Limited acquired 100% of the share capital of Phase Site Investigations Limited.

RECOGNISED AMOUNTS OF IDENTIFIABLE ASSETS ACQUIRED AND LIABILITIES ASSUMED

Fair value
£

FIXED ASSETS

Tangible
50,261

50,261

CURRENT ASSETS

Debtors
30,266

Cash at bank and in hand
13,360

TOTAL ASSETS
93,887

CREDITORS

Due within one year
(41,464)

TOTAL IDENTIFIABLE NET ASSETS
52,423


Goodwill
86,263

TOTAL PURCHASE CONSIDERATION
138,686

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SUMO HOLDINGS LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

16.BUSINESS COMBINATIONS (CONTINUED)

CONSIDERATION

£


Cash
85,000

Contingent consideration
42,500

Directly attributable costs
11,186

TOTAL PURCHASE CONSIDERATION
138,686

CASH OUTFLOW ON ACQUISITION

£


Purchase consideration settled in cash, as above
85,000

Directly attributable costs
11,186

96,186

Less: Cash and cash equivalents acquired
(13,360)

NET CASH OUTFLOW ON ACQUISITION
82,826


17.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 30 May 2025 by Kevin Connor FCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.

 
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