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Registered number: OC370509
SFG Partners LLP
Financial statements
Information for filing with the registrar
For the Period Ended 31 March 2025
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SFG Partners LLP
Registered number: OC370509
Statement of financial position
As at 31 March 2025
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Debtors: amounts falling due within one year
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Creditors: Amounts Falling Due Within One Year
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Total assets less current liabilities
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Provisions for liabilities
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Loans and other debts due to members within one year
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Members' capital classified as equity
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SFG Partners LLP
Registered number: OC370509
Statement of financial position (continued)
As at 31 March 2025
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.
The financial statements were approved and authorised for issue by the members and were signed on their behalf on 31 December 2025.
The notes on pages 5 to 14 form part of these financial statements.
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SFG Partners LLP
Statement of changes in equity
For the Period Ended 31 March 2025
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Members capital (classified as equity)
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Comprehensive income for the year
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Profit for year for discretionary division among members
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Other comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to members
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Total transactions with members
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Comprehensive income for the period
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Profit for period for discretionary division among members
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Other comprehensive income for the period
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Total comprehensive income for the period
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Contributions by and distributions to members
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Total transactions with members
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The notes on pages 5 to 14 form part of these financial statements.
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SFG Partners LLP
Statement of cash flows
For the Period Ended 31 March 2025
Cash flows from operating activities
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Profit for the financial period
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Depreciation of tangible assets
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Decrease/(increase) in debtors
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Net cash generated from operating activities before transactions with members
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Cash flows from investing activities
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Purchase of tangible fixed assets
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Net cash from investing activities
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Cash flows from financing activities
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Net cash used in financing activities
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Net increase in cash and cash equivalents
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Cash and cash equivalents at beginning of period
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Cash and cash equivalents at the end of period
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Cash and cash equivalents at the end of period comprise:
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The notes on pages 5 to 14 form part of these financial statements.
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
SFG Partners LLP is a limited liability partnership incorporated and based in the United Kingdom. The address of the registered office is Michelin House, 81 Fulham Road, London, SW3 6RD. The principle activity of the partnership is to provide marketing and advisory services to fund managers on financial engineering and also to arrange deals acting as an intermediary mainly around structured products and fixed income bonds.
2.Accounting policies
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Basis of preparation of financial statements
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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 requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. 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 following principal accounting policies have been applied:
The members have a reasonable expectation that the partnership has adequate reserves to continue in operation for the foreseeable future due to sufficient bank/cash levels and limitations being placed on expenditure. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
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Foreign currency translation
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Functional and presentation currency
The LLP's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
2.Accounting policies (continued)
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP 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 LLP 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.
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Operating leases: the LLP as lessee
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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.
Interest income is recognised in profit or loss using the effective interest method.
Exceptional items are transactions that fall within the ordinary activities of the LLP but are presented separately due to their size or incidence.
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
2.Accounting policies (continued)
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Division and distribution of profits
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A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.
An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.
The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .
The LLP classifies distributions of profits as operating cash flows in the Statement of cash flows. [Provide reasons for this choice.]
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, using the straight-line method.
Depreciation is provided on the following basis:
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.
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.
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
2.Accounting policies (continued)
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Cash and cash equivalents
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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.
In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the LLP's cash management.
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.
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Provisions for liabilities
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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.
The LLP has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
The LLP has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
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 LLP's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
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 LLP after the deduction of all its liabilities.
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
2.Accounting policies (continued)
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Financial instruments (continued)
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Basic financial liabilities, which include trade and other creditors, bank loans and other loans 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.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for income and expenditure during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. No judgments (apart from those involving estimates) have been made when preparing the financial statements.
There were no key assumptions concerning the future and other key sources of estimating uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
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The entity has no employees.
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The average monthly number of employees, including directors, during the period was 0 (2023 - 0).
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The highest paid member received remuneration of £NIL (2023 - £NIL).
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
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Charge for the period on owned assets
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
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The above provision arises as a result of an omitted VAT payment to HMRC. Payment of the amount provided for is expected when HMRC conclude their review but no timeframe has been given.
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
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Reconciliation of members' interests
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EQUITY
Members' other interests
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Members' capital (classified as equity)
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Profit for the period available for discretionary division among members
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Members' interests after profit for the period
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Other division of profits
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There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.
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Commitments under operating leases
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The LLP had no commitments under non-cancellable operating leases at the reporting date.
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During the period, the Company has extended its accounting period from 31 December 2024 to 31 March 2025. Hence, the accounts for the period ending 31 March 2025 reflect the trading results for the period of
15 months where as the comparatives show the trading results covering 12 months period ending on 31 December 2023.
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Related party transactions
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During the year, members of LLP have withdrawn the amount shown below. There were no amounts due to/from members at 31 March 2025 (2023: £Nil).
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SFG Partners LLP
Notes to the financial statements
For the Period Ended 31 March 2025
The ultimate controlling party is S Jmel.
The auditors' report on the financial statements for the period ended 31 March 2025 was unqualified.
The audit report was signed on 31 December 2025 by Janak Raj Pokhrel (Senior statutory auditor) on behalf of Mantax Lynton.
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