Sawgrass Substrates Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: NI714263

		31 December 2024
	Notes	£	£
FIXED ASSETS
Intangible Assets	4		10,000
Tangible Assets	5		6,968,169

			6,978,169
CURRENT ASSETS
Stocks		1,187,400
Debtors		1,243,223
Cash at bank and in hand		271,682

		2,702,305
Creditors: Amounts Falling Due Within One Year		(1,304,939 )

NET CURRENT ASSETS (LIABILITIES)			1,397,366

TOTAL ASSETS LESS CURRENT LIABILITIES			8,375,535

Creditors: Amounts Falling Due After More Than One Year			(8,368,706 )

NET ASSETS			6,829

CAPITAL AND RESERVES
Called up share capital	6		1
Profit and Loss Account			6,828

SHAREHOLDERS' FUNDS			6,829

Page 1

Page 2

Sawgrass Substrates Limited

Abridged Balance Sheet (continued)

As At 31 December 2024

For the period 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 directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Kieran Walsh

Director

23/12/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Sawgrass Substrates Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI714263 . The registered office is 17 Aghnagar Road, Ballygawley, Dungannon, County Tyrone, BT70 2HP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	5% SL
Plant & Machinery	20% SL

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 10

Page 3

Page 4

Sawgrass Substrates Limited

Notes to the Abridged Financial Statements (continued)

For the Period 17 April 2024 to 31 December 2024

4. Intangible Assets

	Total
	£
Cost
As at 17 April 2024	-
Additions	10,000

As at 31 December 2024	10,000

Net Book Value
As at 31 December 2024	10,000

As at 17 April 2024	-

5. Tangible Assets

	Total
	£
Cost
As at 17 April 2024	-
Additions	7,113,388

As at 31 December 2024	7,113,388

Depreciation
As at 17 April 2024	-
Provided during the period	145,219

As at 31 December 2024	145,219

Net Book Value
As at 31 December 2024	6,968,169

As at 17 April 2024	-

6. Share Capital

	31 December 2024
	£
Allotted, Called up and fully paid	1

Page 4