SUSTAINABLE GENIUS CIC

Company limited by guarantee

Company Registration Number:
SC654812 (Scotland)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

SUSTAINABLE GENIUS CIC

Contents of the Financial Statements

for the Period Ended 28 February 2023

Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

SUSTAINABLE GENIUS CIC

Profit And Loss Account

for the Period Ended 28 February 2023

2023 2022


£

£
Turnover: 0 0
Cost of sales: 0 0
Gross profit(or loss): 0 0
Distribution costs: 0 0
Administrative expenses: 0 0
Other operating income: 0 0
Operating profit(or loss): 0 0
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: 0 0
Tax: 0 0
Profit(or loss) for the financial year: 0 0

SUSTAINABLE GENIUS CIC

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 5,500 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 5,500 0
Current assets
Stocks:   0 0
Debtors:   0 0
Cash at bank and in hand: 2,043 2,123
Investments:   0 0
Total current assets: 2,043 2,123
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year:   0 0
Net current assets (liabilities): 2,043 2,123
Total assets less current liabilities: 7,543 2,123
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): 7,543 2,123
Members' funds
Profit and loss account: 7,543 2,123
Total members' funds: 7,543 2,123

The notes form part of these financial statements

SUSTAINABLE GENIUS CIC

Balance sheet statements

For the year ending 28 February 2023 the company was entitled to exemption 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.

This report was approved by the board of directors on 13 November 2023
and signed on behalf of the board by:

Name: Beatrice Ogedengbe
Status: Director

The notes form part of these financial statements

SUSTAINABLE GENIUS CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

SUSTAINABLE GENIUS CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

SUSTAINABLE GENIUS CIC

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 March 2022 0 0 0
Additions 5,500 0 5,500
Disposals
Revaluations
Transfers
At 28 February 2023 5,500 0 5,500
Amortisation
At 1 March 2022 0 0 0
Charge for year
On disposals
Other adjustments
At 28 February 2023 0 0 0
Net book value
At 28 February 2023 5,500 0 5,500
At 28 February 2022 0 0 0

Intangible Asset is the SGMart web platform, which was valued at £5,500 based on time, efforts and cash invested into the online platform.

COMMUNITY INTEREST ANNUAL REPORT

SUSTAINABLE GENIUS CIC

Company Number: SC654812 (Scotland)

Year Ending: 28 February 2023

Company activities and impact

SGMart an online platform owned and operated by Sustainable Genius CIC is dedicated to offering distinctive items sourced from local charity shops to both students and the general public. The e-commerce platform (https://sgmart.uk/) which was launched in March 2021, has been instrumental in positively impacting the community throughout the financial year 2022-2023. Here are some of the ways in which Sustainable Genius CIC has contributed to the community during this period:The website interfaces has significantly improved in comparison to what it was last year, offering optimised SEO functionality and communications via social media platform, which in turn has led to an increase in customer engagements on the online platform. The new and improved e-commerce web-platform has successfully been used in demonstrations to prospective partners and general users to come on board the platform. Discussions are still ongoing with local charity shops to work with us.

Consultation with stakeholders

The company's stakeholders includes potential online shoppers with an interest in reusable products and local charity shops. Verbal consultations were conducted with international students, revealing their interest in purchasing affordable reusable household items. They expressed a strong desire for online retail platforms, particularly in the post-COVID era, to enhance engagement with sustainability-focused organizations.Sustainable Genius CIC received and valued this feedback, prompting proactive measures. The organisation is currently seeking ways to diversify its services and take maximum advantage of its digital platforms and online content, including the website and social media channels to appeal and suit the needs of its today's customers and build on ways sustainability can be imprinted in the heart of everything we do for our online SGMART shoppers.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
13 November 2023

And signed on behalf of the board by:
Name: David Anowu
Status: Director