| REGISTERED NUMBER: |
| Audited Financial Statements |
| for the Year Ended 27 June 2024 |
| for |
| SFA Consult Limited |
| REGISTERED NUMBER: |
| Audited Financial Statements |
| for the Year Ended 27 June 2024 |
| for |
| SFA Consult Limited |
| SFA Consult Limited (Registered number: 10495360) |
| Contents of the Financial Statements |
| for the Year Ended 27 June 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| SFA Consult Limited |
| Company Information |
| for the Year Ended 27 June 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 1, The Green |
| Richmond |
| TW9 1PL |
| SFA Consult Limited (Registered number: 10495360) |
| Statement of Financial Position |
| 27 June 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Fixed assets |
| Investments | 4 |
| Current assets |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| Net current assets |
| Total assets less current liabilities |
| Capital and reserves |
| Called up share capital | 7 |
| Retained earnings | 8 |
| Shareholders' funds |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SFA Consult Limited (Registered number: 10495360) |
| Notes to the Financial Statements |
| for the Year Ended 27 June 2024 |
| 1. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| 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. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with 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 debtors 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 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. Financial assets classified as receivable within one year are not amortised. |
| Other financial assets |
| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. |
| Impairment of financial assets |
| 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 impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| SFA Consult Limited (Registered number: 10495360) |
| Notes to the Financial Statements - continued |
| for the Year Ended 27 June 2024 |
| 1. | ACCOUNTING POLICIES - continued |
| Derecognition of financial assets |
| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
| Other financial liabilities |
| Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments.Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. |
| Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy. |
| Derecognition of financial liabilities |
| Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. |
| TAXATION |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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. |
| SFA Consult Limited (Registered number: 10495360) |
| Notes to the Financial Statements - continued |
| for the Year Ended 27 June 2024 |
| 1. | ACCOUNTING POLICIES - continued |
| CASH AND CASH EQUIVALENTS |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| TRADE DEBTORS |
| Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. |
| Trade debtors and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. |
| TRADE CREDITORS |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. |
| Trade creditors and other creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. |
| INVESTMENTS |
| Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognized in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. |
| GOING CONCERN |
| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 3. | AUDITORS' REMUNERATION |
| Fees payable to the company's auditors for the audit of the company's financial statements is £2,000 (2023:£3,000). |
| SFA Consult Limited (Registered number: 10495360) |
| Notes to the Financial Statements - continued |
| for the Year Ended 27 June 2024 |
| 4. | FIXED ASSET INVESTMENTS |
| Unlisted |
| investments |
| £ |
| COST |
| At 28 June 2023 |
| Disposals | ( |
) |
| At 27 June 2024 |
| NET BOOK VALUE |
| At 27 June 2024 |
| At 27 June 2023 |
| 2024 | 2023 |
| £ | £ |
| Shares in subsidiaries | 0 | 91 |
| During the year, the company transferred all the investments in its subsidiary company, UK Energy Management (NE) Ltd, to its parent company, The Moven Group Ltd. |
| 9,100 Ordinary shares of £0.01 each in UK Energy Management (NE) Limited |
| Registered office: 6 Crown Road, Quay West Business Village, Sunderland, England, SR5 2AL |
| Nature of business: Support low-income households to improve efficiency of their homes and reduce amount of carbon dioxide in the atmosphere. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by associates |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other loans |
| Amounts owed to group undertakings |
| Other creditors |
| Directors' current accounts | 12 | 1,758 |
| Accrued expenses |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | 1 | 10 | 10 |
| Odrinary B | 1 | 1 | 1 |
| 11 | 11 |
| SFA Consult Limited (Registered number: 10495360) |
| Notes to the Financial Statements - continued |
| for the Year Ended 27 June 2024 |
| 8. | RESERVES |
| Retained |
| earnings |
| £ |
| At 28 June 2023 |
| Profit for the year |
| Dividends | ( |
) |
| At 27 June 2024 |
| The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve. |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 10. | RELATED PARTY DISCLOSURES |
| During the period the company received an interest free loan from it's subsidiary company UK Energy Management (NE) Limited. As at the balance sheet date the total amount owed was Nil (2023: £2,369,871). This loan is interest free and repayable on demand. |
| As at the balance sheet date the total amount due from Moven 17 Limited, a company related by way of sharing a director, was £471,001 (2023: £471,001). This loan is interest free and repayable on demand. |
| As at the balance sheet date the total amount due from Moven Group Limited, a parent company, was £814,426 (2023: £145,300). This loan is interest free and repayable on demand. |
| As at the balance date, the total amount due to the director was £12 (2023: £1,758). |
| 11. | ULTIMATE CONTROLLING PARTY |
| The company's parent company is The Moven Group Limited. |
| The parent's registered office is 9 Ramside Park, Durham, DH1 1NS. |
| The ultimate controlling parties are Steven Copeland and Nina Copeland who owns the entire share capital of the company's parent company The Moven Group Limited. |