REGISTERED NUMBER: NI642580 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

SP Group Global Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

18,666

-

Tangible assets

5

315,017

277,189

333,683

277,189

CURRENT ASSETS

Stocks

1,214,265

926,979

Debtors

6

932,788

709,692

Cash at bank and in hand

219,719

541,420

2,366,772

2,178,091

CREDITORS

Amounts falling due within one year

7

(1,443,812

)

(610,922

)

NET CURRENT ASSETS

922,960

1,567,169

TOTAL ASSETS LESS CURRENT LIABILITIES

1,256,643

1,844,358

CREDITORS

Amounts falling due after more than one year

8

(45,352

)

(332,448

)

PROVISIONS FOR LIABILITIES

(54,427

)

(43,838

)

NET ASSETS

1,156,864

1,468,072

CAPITAL AND RESERVES

Called up share capital

595,606

595,606

Retained earnings

561,258

872,466

1,156,864

1,468,072

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 26 September 2025 and were signed on its behalf by:

Mr N Munster - Director

1.	STATUTORY INFORMATION

SP Group Global Ltd is a private company, limited by shares, domiciled in Northern Ireland, registration number NI642580. The registered office is Western House Rathenraw Industrial Estate, Greystone Road, Antrim, Northern Ireland, BT41 2SJ.

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.

Turnover

Turnover represents net invoiced sales of goods in respect of construction and building supplies, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost, 25% on reducing balance, 20% on reducing balance and 20% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

20,000

At 31 December 2024

20,000

AMORTISATION

Charge for year

1,334

At 31 December 2024

1,334

NET BOOK VALUE

At 31 December 2024

18,666

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

-

413,964

413,964

Additions

33,830

127,716

161,546

Disposals

(1,880

)

(36,800

)

(38,680

)

At 31 December 2024

31,950

504,880

536,830

DEPRECIATION

At 1 January 2024

-

136,775

136,775

Charge for year

504

89,867

90,371

Eliminated on disposal

(26

)

(5,307

)

(5,333

)

At 31 December 2024

478

221,335

221,813

NET BOOK VALUE

At 31 December 2024

31,472

283,545

315,017

At 31 December 2023

-

277,189

277,189

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

177,194

DEPRECIATION

At 1 January 2024

44,996

Charge for year

35,255

At 31 December 2024

80,251

NET BOOK VALUE

At 31 December 2024

96,943

At 31 December 2023

132,198

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

763,926

587,289

Other debtors

168,862

122,403

932,788

709,692

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

39,782

41,832

Trade creditors

749,057

255,700

Amounts owed to group undertakings

298,778

75,193

Amounts owed to related parties

202,933

-

Taxation and social security

96,940

154,126

Other creditors

56,322

84,071

1,443,812

610,922

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Hire purchase contracts

45,352

82,448

Other creditors

-

250,000

45,352

332,448

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Hire purchase contracts

85,134

124,280

Hire purchase contracts and finance leases are secured on the assets to which they relate.

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with companies in the group.

Related party transactions

At year end 31st December 2024 the business owed £202,933 (2023: £nil) to a related party.

At year end 31st December 2024, the business owed £nil (2023: £250,000) to a connected individual.

Interest is being charged on loans at base rate + 1.75%.