Company Registration No. 07430300 (England and Wales)
SIMON WHIGHAM GROUP HOLDINGS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SIMON WHIGHAM GROUP HOLDINGS LTD
COMPANY INFORMATION
Director
Dr S Al-Zaidi
(Appointed 11 November 2024)
Secretary
Ms A J Gosling
Company number
07430300
Registered office
Premier Mill
Hartley Street
Great Harwood
Lancashire
BB6 7SR
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
SIMON WHIGHAM GROUP HOLDINGS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
SIMON WHIGHAM GROUP HOLDINGS LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
31 October 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
5
1,725,000
1,500,100
Investments
6
201
201
1,725,201
1,500,301
Current assets
Debtors
7
42,106
105,545
Cash at bank and in hand
6,134
15,228
48,240
120,773
Creditors: amounts falling due within one year
8
(842,032)
(839,763)
Net current liabilities
(793,792)
(718,990)
Total assets less current liabilities
931,409
781,311
Creditors: amounts falling due after more than one year
9
-
0
(130,917)
Provisions for liabilities
(78,348)
(20,442)
Net assets
853,061
629,952
Capital and reserves
Called up share capital
10,201
10,201
Profit and loss reserves
10
842,860
619,751
Total equity
853,061
629,952
SIMON WHIGHAM GROUP HOLDINGS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -

For the financial period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 March 2025 and are signed on its behalf by:
Dr S Al-Zaidi
Director
Company registration number 07430300 (England and Wales)
SIMON WHIGHAM GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Simon Whigham Group Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Premier Mill, Hartley Street, Great Harwood, Lancashire, BB6 7SR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Reporting period

The company has prepared the financial statements for a 10 month period, as such the comparative amounts presented in the financial statements are not entirely comparable.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income is recognised when receivable.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Property rented to a group entity is accounted for as investment property. This was previously accounted for as property plant and equipment within tangible fixed assets.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Investment property
not depreciated
Plant and equipment
15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

SIMON WHIGHAM GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SIMON WHIGHAM GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
2
2
5
Tangible fixed assets
Investment property
Plant and equipment
Total
£
£
£
Cost or valuation
At 1 January 2024
1,500,000
119,000
1,619,000
Disposals
-
0
(119,000)
(119,000)
Revaluation
225,000
-
0
225,000
At 31 October 2024
1,725,000
-
0
1,725,000
Depreciation and impairment
At 1 January 2024
-
0
118,900
118,900
Eliminated in respect of disposals
-
0
(118,900)
(118,900)
At 31 October 2024
-
0
-
0
-
0
Carrying amount
At 31 October 2024
1,725,000
-
0
1,725,000
At 31 December 2023
1,500,000
100
1,500,100

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Investment Property
2024
2023
£
£
Cost
650,000
650,000
Accumulated depreciation
(132,167)
(119,167)
Carrying value
517,833
530,833
SIMON WHIGHAM GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 6 -
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
201
201
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
11,272
102,112
Amounts owed by group undertakings
3,829
-
0
Other debtors
27,005
3,433
42,106
105,545
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
132,540
16,631
Trade creditors
12,717
10,000
Amounts owed to group undertakings
-
0
34,234
Taxation and social security
-
0
44,779
Other creditors
696,775
734,119
842,032
839,763

Bank loans of £132,540 (2023 - £147,548) are secured on the fixed assets of the company.

9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
130,917
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
-
61,750
10
Profit and loss reserves

Included within profit and loss reserves are non-distributable profits of £986,435.

SIMON WHIGHAM GROUP HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 7 -
11
Related party transactions

Bank loans of £132,539 (2023 - £147,548) are secured on the assets of the company. The liability is part of a group guarantee. The subsidiaries have guaranteed the bank borrowings of the company.

The company is party to a group guarantee relating to a bank facility of a company in which one of the directors had an interest. The rights under this guarantee have now been exercised. The guarantee amounts to £480,000 (2023 - £480,000). The company is negotiating with the bank to settle the guarantee and has made provision for this liability in the financial statements.

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