REGISTERED NUMBER: 09838332 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

SGS1 Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S G Standing

Mrs F Standing

REGISTERED OFFICE:

1st Floor

Cromwell House

14 Fulwood Place

London

WC1V 6HZ

REGISTERED NUMBER:

09838332 (England and Wales)

ACCOUNTANTS:

Gorrie Whitson

1st Floor , Cromwell House

14 Fulwood Place

London

WC1V 6HZ

FIXED ASSETS

Tangible assets

4

154,192

189,626

Investment property

5

11,580,000

11,023,000

11,734,192

11,212,626

CURRENT ASSETS

Debtors

6

9,300

9,300

Cash at bank

483,289

516,924

492,589

526,224

CREDITORS

Amounts falling due within one year

7

1,326,268

1,297,024

NET CURRENT LIABILITIES

(833,679

)

(770,800

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,900,513

10,441,826

CREDITORS

Amounts falling due after more than one year

8

(5,384,414

)

(5,395,827

)

PROVISIONS FOR LIABILITIES

(281,221

)

(216,825

)

NET ASSETS

5,234,878

4,829,174

CAPITAL AND RESERVES

Called up share capital

200

200

Share premium

3,442,630

3,442,630

Non-distributable reserve

970,689

677,669

Retained earnings

821,359

708,675

SHAREHOLDERS' FUNDS

5,234,878

4,829,174

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

S G Standing - Director

1.	STATUTORY INFORMATION

SGS1 Ltd 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 as modified by the revaluation of certain assets.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2023

69,780

139,996

10,651

220,427

Additions

-

-

4,697

4,697

Disposals

-

-

(6,305

)

(6,305

)

At 30 September 2024

69,780

139,996

9,043

218,819

DEPRECIATION

At 1 October 2023

1,163

23,333

6,305

30,801

Charge for year

13,723

23,332

3,076

40,131

Eliminated on disposal

-

-

(6,305

)

(6,305

)

At 30 September 2024

14,886

46,665

3,076

64,627

NET BOOK VALUE

At 30 September 2024

54,894

93,331

5,967

154,192

At 30 September 2023

68,617

116,663

4,346

189,626

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

11,023,000

Additions

263,980

Revaluations

293,020

At 30 September 2024

11,580,000

NET BOOK VALUE

At 30 September 2024

11,580,000

At 30 September 2023

11,023,000

Fair value at 30 September 2024 is represented by:

£

Valuation in 2017

66,178

Valuation in 2018

55,000

Valuation in 2020

135,000

Valuation in 2021

100,374

Valuation in 2023

321,118

Valuation in 2024

293,020

Cost

10,609,310

11,580,000

The investment properties for the year ended 30 September 2024 have been revalued at the directors best opinion.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Other debtors

9,300

9,300

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

£

Hire purchase contracts

17,974

17,974

Deposits

27,153

-

Tax

76,239

49,421

Directors' current accounts

1,193,501

1,218,829

Accrued expenses

11,401

10,800

1,326,268

1,297,024

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.24

30.9.23

£

£

Bank loans - 1-2 years

5,280,596

5,285,694

Hire purchase contracts

103,818

110,133

5,384,414

5,395,827

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.9.24

30.9.23

£

£

Bank loans

5,280,596

5,285,694

All loans are secured by properties of the company . There is a fixed charge over all the assets of SGS1 Ltd.

10.	RELATED PARTY DISCLOSURES

The company's majority shareholder maintains a loan account with the company. At 30th September 2024 the balance due to him, included in other creditors, was £1,193,500 (2023 £1,218,829).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is S G Standing.