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Company Registration No. 07473071 (England and Wales)
Southgate Global Services Ltd Unaudited accounts for the year ended 31 December 2024
Southgate Global Services Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Southgate Global Services Ltd Company Information for the year ended 31 December 2024
Director
John Juma
Company Number
07473071 (England and Wales)
Registered Office
Bridge house Sherington Newport pagnell MK169JA United Kingdom
Accountants
Parizma - Management Accountants & Strategic Advisors 2 Arlington Square Venture House Bracknell Berkshire RG12 1WA
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Southgate Global Services Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
269,687 
307,159 
Current assets
Debtors
5
274,142 
40,014 
Cash at bank and in hand
8,653 
14,944 
282,795 
54,958 
Creditors: amounts falling due within one year
6
(530,050)
(298,886)
Net current liabilities
(247,255)
(243,928)
Total assets less current liabilities
22,432 
63,231 
Creditors: amounts falling due after more than one year
7
(119,918)
(114,522)
Net liabilities
(97,486)
(51,291)
Capital and reserves
Called up share capital
3 
3 
Profit and loss account
(97,489)
(51,294)
Shareholders' funds
(97,486)
(51,291)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 September 2025 and were signed on its behalf by
John Juma Director Company Registration No. 07473071
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Southgate Global Services Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Southgate Global Services Ltd is a private company, limited by shares, registered in England and Wales, registration number 07473071. The registered office is Bridge house, Sherington, Newport pagnell, MK169JA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 Years
Motor vehicles
4 Years
Fixtures & fittings
10 Years
Computer equipment
4 Years
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2024
258,992 
23,838 
259,000 
6,667 
548,497 
At 31 December 2024
258,992 
23,838 
259,000 
6,667 
548,497 
Depreciation
At 1 January 2024
- 
23,838 
217,500 
- 
241,338 
Charge for the year
- 
- 
35,250 
2,222 
37,472 
At 31 December 2024
- 
23,838 
252,750 
2,222 
278,810 
Net book value
At 31 December 2024
258,992 
- 
6,250 
4,445 
269,687 
At 31 December 2023
258,992 
- 
41,500 
6,667 
307,159 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
274,142 
40,014 
- 5 -
Southgate Global Services Ltd Notes to the Accounts for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
30,885 
Obligations under finance leases and hire purchase contracts
75,887 
84,860 
Trade creditors
26,595 
30,721 
Taxes and social security
93,873 
45,619 
Other creditors
80,842 
46,844 
Loans from directors
37,102 
24,600 
Accruals
215,751 
35,357 
530,050 
298,886 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
119,918 
114,522 
8
Average number of employees
During the year the average number of employees was 8 (2023: 13).
- 6 -