ACCOUNTS - Final Accounts preparation

Registered number: 10527738

SDM HOLDINGS LIMITED

UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

SDM HOLDINGS LIMITED

COMPANY INFORMATION

Director	Marc Philippe Chauveau


Registered number	10527738


Registered office	645 Portslade Road
	London
	SW8 3DH


Accountants	Bishop Fleming LLP
	Salt Quay House
	4 North East Quay
	Sutton Harbour
	Plymouth
	PL4 0BN

SDM HOLDINGS LIMITED

CONTENTS

	Page
Director's report	1
Accountants' report	2
Consolidated statement of income and retained earnings	3
Consolidated statement of financial position	4 - 5
Company statement of financial position	6 - 7
Notes to the financial statements	8 - 21

SDM HOLDINGS LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2024

The director presents his report and the financial statements for the year ended 31 December 2024.

Director

The director who served during the year was:

Marc Philippe Chauveau

Principal risks and uncertainties

The principal activity of the Company during the financial year was the provision of records data management and storage solutions.

Going concern

The director has prepared the financial statements on the going concern basis. Further details are provided in the notes to the financial statements.

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 29 September 2025 and signed on its behalf.

Marc Philippe Chauveau

Director

Page 1

SDM HOLDINGS LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OFSDM HOLDINGS LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SDM Holdings Limited for the year ended 31 December 2024 which comprise the Group Profit and loss account, the Group and Company Statement of financial positions and the related notes from the Company's accounting records and from information and explanations you have given to us.

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the director of SDM Holdings Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of SDM Holdings Limited and state those matters that we have agreed to state to the director of SDM Holdings Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SDM Holdings Limited and its director for our work or for this report.

It is your duty to ensure that SDM Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that SDM Holdings Limited is exempt from the statutory audit requirement for the .

We have not been instructed to carry out an audit or review of the financial statements of SDM Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bishop Fleming LLP

Salt Quay House

4 North East Quay

Sutton Harbour

Plymouth

PL4 0BN

29 September 2025

Page 2

SDM HOLDINGS LIMITED

CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 31 DECEMBER 2024

	2024	Restated 2023
Note	£	£


Turnover		7,467,147	6,751,110
Cost of sales		(3,170,662)	(2,962,863)
Gross profit		4,296,485	3,788,247
Distribution costs		(75,215)	(77,014)
Administrative expenses		(3,353,828)	(2,967,736)
Exceptional administrative expenses	4	(249,443)	-
Operating profit		617,999	743,497
Interest receivable and similar income		4,181	-
Interest payable and similar expenses		(163,782)	(137,832)
Profit before tax		458,398	605,665
Tax on profit		(187,817)	(250,666)
Profit after tax		270,581	354,999



Retained earnings at the beginning of the year	1,826,414	1,697,850
Profit for the year attributable to the owners of the parent	270,581	354,999
Dividends declared and paid	(356,777)	(226,435)
Retained earnings at the end of the year	1,740,218	1,826,414

The notes on pages 8 to 21 form part of these financial statements.

Page 3

SDM HOLDINGS LIMITED

REGISTERED NUMBER: 10527738

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		Restated 2023
Note		£		£

Fixed assets
Intangible assets	5		676,242		809,630
Tangible assets	6		1,693,546		1,503,585
			2,369,788		2,313,215
Current assets
Debtors	8	1,295,131		1,365,791
Cash at bank and in hand		564,967		801,051
		1,860,098		2,166,842
Creditors: amounts falling due within one year	9	(969,149)		(1,046,237)
Net current assets			890,949		1,120,605
Total assets less current liabilities			3,260,737		3,433,820
Creditors: amounts falling due after more than one year	10		(1,125,080)		(1,305,656)
Provisions for liabilities
Deferred taxation		(395,339)		(301,650)
			(395,339)		(301,650)
Net assets			1,740,318		1,826,514
Net assets			1,740,318		1,826,514

Capital and reserves
Called up share capital	100	100
Profit and loss account	1,740,218	1,826,414
Equity attributable to owners of the parent Company	1,740,318	1,826,514

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Page 4

SDM HOLDINGS LIMITED

REGISTERED NUMBER: 10527738

CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2025.

Marc Philippe Chauveau

Director

The notes on pages 8 to 21 form part of these financial statements.

Page 5

SDM HOLDINGS LIMITED

REGISTERED NUMBER: 10527738

COMPANY STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		As restated 2023
Note		£		£

Fixed assets
Investments	7		2,000,100		2,000,100
			2,000,100		2,000,100
Current assets
Debtors	8	85,331		81,668
Cash at bank and in hand		38,703		119,282
		124,034		200,950
Creditors: amounts falling due within one year	9	(325,016)		(287,719)
Net current liabilities			(200,982)		(86,769)
Total assets less current liabilities			1,799,118		1,913,331

Creditors: amounts falling due after more than one year	10		(932,129)		(1,231,414)
Provisions for liabilities
Deferred taxation		(25,953)		-
			(25,953)		-
Net assets			841,036		681,917

Capital and reserves
Called up share capital	100	100
Profit and loss account	840,936	681,817
	841,036	681,917

The director considers that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 September 2025.

Page 6

SDM HOLDINGS LIMITED

REGISTERED NUMBER: 10527738

COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

Marc Philippe Chauveau

Director

The notes on pages 8 to 21 form part of these financial statements.

Page 7

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

SDM Holdings Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 645 Portslade Road, London, SW8 3DH, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

2.3

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.4

Prior year adjustment

Where material adjustments are found to the prior year information, the prior year figures are restated to aid comparability. Further detail can be found in note 12.

Page 8

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.6

Operating leases: the Group as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 9

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.12

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Group but are presented separately due to their size or incidence.

Page 10

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.13

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.14

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives,

Depreciation is provided on the following basis:

Long-term leasehold property	-	Over the life of the lease
Plant and machinery	-	5% to 25% reducing balance
Motor vehicles	-	20% reducing balance
Fixtures and fittings	-	5% to 25% reducing balance
Computer equipment	-	5% to 25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.15

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 11

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.16

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.18

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.20

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Statement of financial position when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Page 12

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.20

Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

2.21

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2.22

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including the director, during the year was as follows:

	Group	Group	Company	Company
	2024	2023	2024	2023
	No.	No.	No.	No.

Employees (including directors)	75	64	17	18

Page 13

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Exceptional items
		2024	Restated 2023
		£	£

Exceptional costs

249,443

During the year, a subsidiary company relocated part of its storage capacity to an alternative location, incurring significant costs in doing so. The directors believe this to be a non-recurring cost over and above the normal operation of the business.

5.	Intangible assets
	Group and Company

	Other intangible assets	Goodwill	Total
	£	£	£
Cost
As restated at 1 January 2024	140,000	1,053,883	1,193,883
At 31 December 2024	140,000	1,053,883	1,193,883
Amortisation
As restated at 1 January 2024	112,000	272,253	384,253
Charge for the year on owned assets	28,000	105,388	133,388
At 31 December 2024	140,000	377,641	517,641
Net book value
At 31 December 2024	-	676,242	676,242
As restated at 31 December 2023	28,000	781,630	809,630

Page 14

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Tangible fixed assets
	Group

	Leasehold property	Plant and machinery	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£	£	£
Cost or valuation
As restated at 1 January 2024	327,181	2,331,716	853,214	848,695	81,313	4,442,119
Additions	59,964	193,876	88,230	1,600	17,262	360,932
Disposals	(28,025)	-	(14,275)	(2,775)	-	(45,075)
At 31 December 2024	359,120	2,525,592	927,169	847,520	98,575	4,757,976
Depreciation
As restated at 1 January 2024	127,304	1,401,783	553,686	824,743	31,018	2,938,534
Charge for the year on owned assets	21,954	58,940	72,659	5,375	5,804	164,732
Disposals	(28,025)	-	(10,533)	(278)	-	(38,836)
At 31 December 2024	121,233	1,460,723	615,812	829,840	36,822	3,064,430
Net book value
At 31 December 2024	237,887	1,064,869	311,357	17,680	61,753	1,693,546
As restated at 31 December 2023	199,877	929,933	299,528	23,952	50,295	1,503,585

Page 15

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	2,000,100
	At 31 December 2024	2,000,100

Debtors

Group	Group As restated	Company	Company As restated
2024	2023	2024	2023
£	£	£	£



Trade debtors	1,028,780	1,187,381	-	81,602
Amounts owed by connected companies	150,446	-	82,861	-
Other debtors	88,764	154,655	2,470	66
Prepayments and accrued income	27,141	23,755	-	-
	1,295,131	1,365,791	85,331	81,668

Page 16

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Creditors: Amounts falling due within one year
		Group	Group As restated	Company	Company As restated
		2024	2023	2024	2023
		£	£	£	£

Other loans	299,285	275,726	299,285	275,726
Trade creditors	171,032	214,725	1,645	-
Corporation tax	130,068	274,836	-	-
Other taxation and social security	247,209	213,909	12,008	1,398
Obligations under finance lease and hire purchase contracts	87,169	-	-	-
Other creditors	24,686	67,041	6,978	10,595
Accruals and deferred income	9,700	-	5,100	-
	969,149	1,046,237	325,016	287,719

The following liabilities were secured:
	Group	Group	Company	Company
	2024	2023	2024	2023
	£	£	£	£

	Other loans	299,285	275,726	299,285	275,726
		299,285	275,726	299,285	275,726

Details of security provided:

The loans are secured by way of fixed and floating charges over all the property and undertaking of the company containing a negative pledge.
Amounts owed to Group undertakings are repayable on demand and do not bear interest.

Page 17

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Creditors: Amounts falling due after more than one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Other loans	932,129	1,231,414	932,129	1,231,414
Net obligations under finance leases and hire purchase contracts	192,951	74,242	-	-
	1,125,080	1,305,656	932,129	1,231,414

The following liabilities were secured:
	Group	Group	Company	Company
	2024	2023	2024	2023
	£	£	£	£


Other loans	932,129	1,231,414	932,129	1,231,414
	932,129	1,231,414	932,129	1,231,414

Details of security provided:

The loans are secured by way of fixed and floating charges over all the property and undertaking of the company containing a negative pledge.

11.	Deferred taxation
	Group

		2024
		£

	As restated at 1 January 2024	(301,650)
	Charged to profit or loss	(93,689)
	At 31 December 2024	(395,339)

Page 18

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

11.Deferred taxation (continued)

Company

		2024
		£

	Charged to profit or loss	(25,953)
	At 31 December 2024	(25,953)

The provision for deferred taxation is made up as follows:
	Group	Group As restated	Company
	2024	2023	2024
	£	£	£

Accelerated capital allowances	(358,998)	(301,650)	-
Short term timing differences	(32,782)	-	(22,394)
Other item	(3,559)	-	(3,559)
	(395,339)	(301,650)	(25,953)

Page 19

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

12.	Prior year adjustment

Prior year adjustments have been made to the consolidated figures to remove £2,000,100 of intra-group investment by the parent company and £10,100 of subsidiary share capital, instead recognising £781,360 of amortised goodwill on consolidation. There has also been a reclass of £140,000 previously recognised as an investment to intangible assets, with £112,000 corresponding amortisation, recognition of £80,000 of depreciation on leasehold assets, the recognition £49,961 of interest charged on the loan to the parent company omitted in the prior prior period, reduction to accrued income of £82,471 and removal of a recharge debtor of £39,665. Ageing of a loan has been corrected with an additional £225,765 shown within one year and a reduction of the same amount to creditors due more than one year. The net effect on the prior figures is as below:

Page 20

SDM HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

13.	Commitments under operating leases
	At 31 December 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2024	2023
		£	£

Not later than 1 year	861,816	877,290
Later than 1 year and not later than 5 years	2,873,539	3,155,644
Later than 5 years	2,705,720	3,285,431
	6,441,075	7,318,365

14.	Related party transactions
	Transactions with the entity's director During the year, dividends paid to the director and other shareholder were £356,777 (2023: £226,435). As a Holding Company with wholly owned subsidiaries, the company has taken the advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with wholly owned group entities.

Page 21