SELECT
	 ID		= tmp.ID
	,Value	= t3.[Value]
FROM
	(SELECT t1.[ID]
		  ,MaxID = MAX(t2.ID)
	FROM		[dbo].[Test] t1
	INNER JOIN	[dbo].[Test] t2 ON [t1].[ID] >= [t2].[ID] AND t2.[Value] IS NOT NULL
	GROUP BY t1.[ID]) tmp
INNER JOIN [dbo].[Test] t3 ON tmp.[MaxID] = t3.[ID]