Company registration number 06555112 (England and Wales)
SGW EUROPE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SGW EUROPE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SGW EUROPE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
8,272
14,291
Current assets
Debtors
4
4,633
14,897
Cash at bank and in hand
19,694
18,457
24,327
33,354
Creditors: amounts falling due within one year
5
(3,779,371)
(3,768,684)
Net current liabilities
(3,755,044)
(3,735,330)
Total assets less current liabilities
(3,746,772)
(3,721,039)
Creditors: amounts falling due after more than one year
6
(4,923)
(15,061)
Net liabilities
(3,751,695)
(3,736,100)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(3,751,795)
(3,736,200)
Total equity
(3,751,695)
(3,736,100)

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

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 20 July 2025
M S Jacobs-Paton
Director
Company registration number 06555112 (England and Wales)
SGW EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

SGW Europe Limited is a private company limited by shares incorporated in England and Wales. The registered office is Flat 4 102A Albion Drive, London, E8 4LY.

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 under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The Financial Statements have been prepared on the going cotruencern basis as the company's director is satisfied that the company has available sufficient financial facilities to support its working capital requirements and to enable it to meet its debts as they fall due.

1.3
Turnover
Revenue, described as Turnover, represents amounts receivable by the company for goods provided to customers and services performed during the year, net of VAT.

Revenue is recognised on the sale of goods when the goods are despatched. Revenue arising from the provision of services is recognised over the periods in which the service is provided.
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SGW EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.7
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. The company holds only basic financial instruments, which comprise cash and cash equivalents, trade and other debtors, trade and other creditors and loans and borrowings.

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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

 

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

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.9
Retirement benefits

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

SGW EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11

Foreign Branch

Assets and liabilities of the foreign branch are translated from Euro into sterling at the closing rate of exchange. Income and expenses are translated at the average rate of exchange. Exchange differences arising on the retranslation of the opening net investments are taken to reserves.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
7
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024
155,496
Additions
1,249
At 31 December 2024
156,745
Depreciation and impairment
At 1 January 2024
141,205
Depreciation charged in the year
7,268
At 31 December 2024
148,473
Carrying amount
At 31 December 2024
8,272
At 31 December 2023
14,291
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,633
14,897
SGW EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,890
9,890
Trade creditors
3,750,395
3,739,283
Taxation and social security
14,036
13,852
Other creditors
5,050
5,659
3,779,371
3,768,684

The bank loan is supported by the Bounce Back Loan Scheme ("BBLS").

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,923
15,061
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
2024-12-312024-01-01falsefalsefalse21 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityM S Jacobs-Paton065551122024-01-012024-12-31065551122024-12-31065551122023-12-3106555112core:OtherPropertyPlantEquipment2024-12-3106555112core:OtherPropertyPlantEquipment2023-12-3106555112core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3106555112core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3106555112core:Non-currentFinancialInstrumentscore:AfterOneYear2024-12-3106555112core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3106555112core:CurrentFinancialInstruments2024-12-3106555112core:CurrentFinancialInstruments2023-12-3106555112core:ShareCapital2024-12-3106555112core:ShareCapital2023-12-3106555112core:RetainedEarningsAccumulatedLosses2024-12-3106555112core:RetainedEarningsAccumulatedLosses2023-12-3106555112core:ShareCapitalOrdinaryShareClass12024-12-3106555112core:ShareCapitalOrdinaryShareClass12023-12-3106555112bus:Director12024-01-012024-12-3106555112core:FurnitureFittings2024-01-012024-12-31065551122023-01-012023-12-3106555112core:OtherPropertyPlantEquipment2023-12-3106555112core:OtherPropertyPlantEquipment2024-01-012024-12-3106555112core:WithinOneYear2024-12-3106555112core:WithinOneYear2023-12-3106555112core:Non-currentFinancialInstruments2024-12-3106555112core:Non-currentFinancialInstruments2023-12-3106555112bus:OrdinaryShareClass12024-01-012024-12-3106555112bus:OrdinaryShareClass12024-12-3106555112bus:OrdinaryShareClass12023-12-3106555112bus:PrivateLimitedCompanyLtd2024-01-012024-12-3106555112bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3106555112bus:FRS1022024-01-012024-12-3106555112bus:AuditExemptWithAccountantsReport2024-01-012024-12-3106555112bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP