REGISTERED NUMBER: 08491971 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SAMGEM ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G P Martin

REGISTERED OFFICE:

19-21 Middle Row

Stevenage

Hertfordshire

SG1 3AW

REGISTERED NUMBER:

08491971 (England and Wales)

ACCOUNTANTS:

Barker Wilkinson Limited

19-21 Middle Row

Stevenage

Hertfordshire

SG1 3AW

CURRENT ASSETS

Debtors

6

1,135

1,037

Cash at bank

67,535

71,218

68,670

72,255

CREDITORS

Amounts falling due within one year

7

7,889

7,175

NET CURRENT ASSETS

60,781

65,080

TOTAL ASSETS LESS CURRENT LIABILITIES

60,781

65,080

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

60,681

64,980

SHAREHOLDERS' FUNDS

60,781

65,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 August 2025 and were signed by:

G P Martin - Director

1.	STATUTORY INFORMATION

Samgem Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director has assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The director has not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31st March 2024 have been prepared using the going concern basis of accounting.

Turnover

Turnover represents commissions received for the sale of financial products.

Initial revenue is recognised at the inception of the policy to which it relates.

Trail and renewal revenue are recognised as the consideration arises.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Financial instruments

The director considers all financial instruments to be basic financial instruments in accordance with 11 of section 11 FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost.

Taxation

Taxation for the year comprises current 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 taxation 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 balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

30,000

AMORTISATION

At 1 April 2024

and 31 March 2025

30,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

724

DEPRECIATION

At 1 April 2024

and 31 March 2025

724

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Prepayments

1,135

1,037

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Corporation tax

6,029

5,535

Social security and other taxes

110

140

Accrued expenses

1,750

1,500

7,889

7,175