Registration number:
SBG Companies Limited
for the Year Ended 31 December 2024
SBG Companies Limited
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
SBG Companies Limited
Company Information
|
Directors |
Mrs Janet Treacy Pierce Mr Marco Auletta Mr Riccardo Silva Mr Paul Adrian Rossi |
|
Company secretary |
Mr Marco Auletta |
|
Registered office |
|
|
Accountants |
|
SBG Companies Limited
(Registration number: 03174466)
Balance Sheet as at 31 December 2024
|
Note |
2024 |
2023 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
|
|
|
Tangible assets |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
Deferred tax asset |
2,922,445 |
3,005,975 |
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Net liabilities |
( |
( |
|
|
Capital and reserves |
|||
|
Called up share capital |
11,000 |
11,000 |
|
|
Retained earnings |
(2,025,910) |
(2,262,164) |
|
|
Shareholders' deficit |
(2,014,910) |
(2,251,164) |
SBG Companies Limited
(Registration number: 03174466)
Balance Sheet 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
|
|
SBG Companies Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
|
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). These are the first financial statements prepared under FRS102 1A. The date of transition was 1 January 2023.
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.
SBG Companies Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
The company earns revenue form the provision of services relating to subscription services, advertising and consulting services.
The entity recognises revenue on subscriptions over the life of the subscription package, on a monthly basis. The entity recognises advertising revenue either; equally over the period of the campaign, or when a physical advert is published, revenue is recognised in the month of issue. The entity recognises consulting revenue based on the stage of completion of the consultancy contract.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
SBG Companies Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Fixtures, fittings and equipment |
33% Straight Line |
|
Other property plant and equipment |
33% Straight Line |
Intangible assets
Separately acquired trademarks, software licences and product development have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Database product development |
33% Straight Line |
|
Website cost |
25% Straight Line |
|
Computer software |
33% Straight Line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an 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 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.
SBG Companies Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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 are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
SBG Companies Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
Intangible assets |
|
Website |
Computer Software |
Database product development |
Total |
|
|
Cost or valuation |
||||
|
At 1 January 2024 |
|
|
|
|
|
At 31 December 2024 |
|
|
|
|
|
Amortisation |
||||
|
At 1 January 2024 |
|
|
|
|
|
Amortisation charge |
- |
- |
|
|
|
At 31 December 2024 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 December 2024 |
- |
- |
|
|
|
At 31 December 2023 |
- |
- |
|
|
SBG Companies Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
Tangible assets |
|
Other tangible assets |
Furniture, fittings and equipment |
Total |
|
|
Cost or valuation |
|||
|
At 1 January 2024 |
|
|
|
|
Additions |
|
- |
|
|
At 31 December 2024 |
|
|
|
|
Depreciation |
|||
|
At 1 January 2024 |
|
|
|
|
Charge for the year |
|
|
|
|
At 31 December 2024 |
|
|
|
|
Carrying amount |
|||
|
At 31 December 2024 |
|
|
|
|
At 31 December 2023 |
|
|
|
|
Debtors |
|
Current |
2024 |
2023 |
|
Trade debtors |
|
|
|
Amounts owed by related parties |
- |
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
SBG Companies Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
Creditors |
Creditors: amounts falling due within one year
|
2024 |
2023 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
11,000 |
|
11,000 |
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2024 |
2023 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
- |
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
SBG Companies Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is