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Registration number: SC454408

SGWL Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

SGWL Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

SGWL Limited

Company Information

Directors

Ann White

Mr Stephen White

Registered office

The Farm House
Upper Tarsappie
Rhynd
PERTH
PH2 8PT

Accountants

Morris & Young
Chartered Accountants
6 Atholl Crescent
PERTH
PH1 5JN

 

SGWL Limited

(Registration number: SC454408)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

2,997,440

2,997,440

Current assets

 

Cash at bank and in hand

 

4,877

3,392

Creditors: Amounts falling due within one year

5

(1,116,125)

(1,116,151)

Net current liabilities

 

(1,111,248)

(1,112,759)

Total assets less current liabilities

 

1,886,192

1,884,681

Creditors: Amounts falling due after more than one year

5

(1,872,490)

(1,872,490)

Net assets

 

13,702

12,191

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

13,602

12,091

Shareholders' funds

 

13,702

12,191

 

SGWL Limited

(Registration number: SC454408)
Statement of Financial Position as at 31 December 2024

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 July 2025 and signed on its behalf by:
 

.........................................
Ann White
Director

.........................................
Mr Stephen White
Director

 

SGWL Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
The Farm House
Upper Tarsappie
Rhynd
PERTH
PH2 8PT

These financial statements were authorised for issue by the Board on 3 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and on deposit.

 

SGWL Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2

Accounting policies (continued)

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
The company only have financial assets and liabilities of a kind that would qualify as basic financial instruments which are recognised at their transaction value and subsequently measured at their settlement value.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

SGWL Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Investments

2024
£

2023
£

Investments in subsidiaries

2,997,440

2,997,440

Subsidiaries

£

Cost or valuation

At 1 January 2024

2,997,440

Provision

Carrying amount

At 31 December 2024

2,997,440

At 31 December 2023

2,997,440

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Ian White Limited

The Farm House, Upper Tarsappie, Rhynd, PERTH, PH2 8PT

Scotland

Ordinary

100%

100%

Subsidiary undertakings

Ian White Limited

The principal activity of Ian White Limited is farming.

 

SGWL Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

1,115,525

1,114,951

Accruals and deferred income

 

600

1,200

 

1,116,125

1,116,151

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

1,872,490

1,872,490

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Redeemable preference shares

1,872,490

1,872,490

8

Related party transactions

Summary of transactions with parent

The company is exempt from disclosing related party transactions with wholly owned subsidary companies.