Registered number: 04064725

Sui Generis International Limited

​​​​​

​​Financial Statements

Information For Filing With The Registrar

For the year ended 31 December 2025

​Directors

R A Cornwell (appointed 04-06-2026)
S R Milbank
M J Sparrow
J R Luckham (resigned 02-01-2025)

Registered number

04064725​

Registered office

​​Lindsey House Brunel Way​
Severalls Industrial Park​
Severalls Industrial Park​
Colchester​
Essex​
CO4 9QX​

​Independent auditors

Azets Audit Services​​​
Statutory Auditor
159 Princes Street​
​
​
Ipswich​
Suffolk​
IP1 1QJ​

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 have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the Single statement of comprehensive income 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:

17 September 2026 

Sui Generis International Limited is a private company limited by shares and is incorporated in England & Wales. The address of its registered office is Lindsey House, Brunel Way, Severalls Industrial Park, Colchester, Essex, CO4 9QX.

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been applied consistently to all periods presented, unless otherwise stated.

The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of ​Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies.

The company's functional and presentational currency is the Pound Sterling.

The company has taken advantage of the following disclosure exemptions in preparing its ​​​​financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

• the requirements of Section 7 Statement of Cash Flows and paragraph 3.17(d).
• the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A as equivalent information is included in the consolidated financial statements of the group in which the company is consolidated.
• the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23 as the company is a subsidiary and the share-based payment arrangement concerns equity instruments of another group entity.​​​
• the requirement of Section 33 Related Party disclosures paragraph 33.7.

The information is included in the consolidated financial statements of Milbank Ventures Limited as at 31 December 2025 and these financial statements may be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue trading for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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 on a historical cost basis are translated using the exchange rate at the date of the transaction, and non-monetary items measured at fair value in a foreign currency are translated using the rate at the date when the 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'.

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

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

• the company​​​ ​has transferred the significant risks and rewards of ownership to the buyer;
• the company​​​ retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the company​​​ will receive the consideration due under the transaction; and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which 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 company​​​ will receive the consideration due under the transaction;
• the stage of completion of the contract at the end of the reporting period can be measured reliably; and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Interest income

Interest income is recognised using the effective interest rate method when it is probable that the company​​​ will receive the consideration due under the transaction and the amount of the revenue can be measured reliably.

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership to the lessee. If the lease does not transfer substantially all the risks and rewards incidental to ownership, it is classified as an operating lease. Lease classification is dependent on the substance of the transaction rather than the form of the contract. Classification is made at the inception of the lease and is not changed during the term of the lease unless both the lessee and lessor agree to change the provisions of the lease, at which point the classification is re-evaluated.

Operating leases

Payments under operating leases are recognised as expenses in profit or loss over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern of the lessee's benefit, even if the payments are not on that basis.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company 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 as accruals in the Statement of financial position. The assets of the scheme are held separately from the company in independently administered funds.

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 recognised in other comprehensive income or directly in equity. In this case, the tax is 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 balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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.

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 balance sheet date.

Exceptional items are transactions that fall within the operating activities of the company but are identifiable due to their size or incidence.

Intangible assets are initially recognised at cost. Subsequently, they are measured using the cost model​. 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 life shall not exceed 10 years.

Trademarks                                  - 10% straight line

If factors such as a change in how an intangible asset is used, technological advancement, or changes in market prices indicate that the residual value or useful life of an asset has changed since the most recent balance sheet​ date, the company​ reviews its previous estimates and, if current expectations differ, amends the residual value, amortisation method or useful life, accounting for this as a change in an accounting estimate.

Tangible fixed assets are initially recognised at cost. Cost includes the purchase price and any costs 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.

Subsequently, tangible fixed assets are measured using the cost model. Under the cost model, tangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

All tangible fixed assets are considered to have a finite useful life.

Depreciation is calculated to allocate the depreciable amount of tangible fixed assets to their residual values over their estimated useful lives on the following bases​:

Long-term leasehold property     - 10% straight line 

Plant and machinery                   - 25% straight line 

Motor vehicles                             - 25% reducing balance 

Office equipment                         - 25% reducing balance 

Computer equipment                  - 20% straight line

If factors such as a change in how an asset is used, technological advancement, or changes in market prices indicate that the residual value or useful life of an asset has changed since the most recent balance sheet date, the company reviews its previous estimates and, if current expectations differ, amends the residual value, amortisation method or useful life, accounting for this as a change in an accounting estimate.

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out (FIFO) basis. Work in progress and finished goods include labour costs and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If an item of stock​ is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents include cash in hand, deposits with financial institutions repayable without penalty on notice of not more than 24 hours, other highly liquid investments that mature in no more than three months from the date of acquisition and bank overdrafts. Bank overdrafts, where applicable, are shown within 'Creditors: amounts due within one year'.

Financial assets

Financial assets are initially measured at transaction price, including transaction costs, and subsequently held at cost less accumulated impairment, or at amortised cost using the effective interest method in the case of debt instruments meeting the criteria for recognition as basic financial instruments.

At each reporting date, financial assets are assessed for objective evidence of impairment with any impairment loss recognised in profit or loss. An impairment loss is calculated as the difference between the carrying amount and the best estimate of the recoverable amount which is an approximation of its sale value at the balance sheet date or, for basic debt instruments, the present value of estimated cash flows discounted at the asset’s original effective interest rate.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when:

• the contractual rights to the cash flows from the asset expire or are settled; or
• substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
• despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, unless the arrangement constitutes a financing transaction, are initially measured at transaction price, including transaction costs.

A financial liability, where the arrangement constitutes a financing transaction, is initially measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument as determined at initial recognition adjusted for transaction costs.

Basic financial liabilities are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, either by way of the contractual obligation having been discharged, cancelled or expired.

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when a shareholders' written resolution is passed.

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. 

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

The average monthly number of employees, including directors, during the year was 51 (2024: 53).

During the year the Company purchased a third party business and subsequently sold the trade and certain assets resulting in a gain of £634,865, which has been recognised in the statement of comprehensive income. At the year end, deferred consideration of £300,000 was outstanding, and is recognised within other debtors on the statement of financial position. Further consideration, which is contingent on certain conditions, has not been recognised as the conditions are not expected to be met.

The Company operates a receivables financing facility with HSBC Invoice Finance (UK) Limited. Under this arrangement, the Company assigns its trade receivables to HSBC absolutely and has granted a fixed charge over non‑vesting debts and associated rights together with a floating charge over its remaining assets. These arrangements secure amounts advanced to the Company under the receivables financing facility. This is included within other creditors, and the balance at the year end is £309,684 (2024: £164,422).

The warranty provision relates to contractual remedial obligations associated with installations in the prior year. This has been estimated by reference to historical costs incurred in remedying similar installations.

Other provisions relate to onerous contracts, and the amount represents the losses ultimately realised on contractual commitments that existed at the year end.

Company as a lessee - operating leases

At 31 December 2025, the company ​had future minimum payments falling due under non-cancellable operating leases for each of the following periods:

The deferred tax balance is made up as follows:

Security

The Company has granted fixed and floating charges over its assets in favour of HSBC UK Bank plc. This security supports the banking facilities made available to the wider Group, for which the Company acts as a guarantor.