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REGISTERED NUMBER: SC653426 (Scotland)




















SGEE Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






SGEE Limited (Registered number: SC653426)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SGEE Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Ms E A Elliott
Mr S M Gergis



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC653426 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Starling Bank
3rd Floor
2 Finsbury Avenue
London
EC2M 2PP

SGEE Limited (Registered number: SC653426)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,774 17,236
Tangible assets 5 10,102 20,499
24,876 37,735

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 6 3,770 10,149
Cash at bank and in hand 5,263 2,489
14,033 17,638
CREDITORS
Amounts falling due within one year 7 78,849 83,750
NET CURRENT LIABILITIES (64,816 ) (66,112 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(39,940

)

(28,377

)

CREDITORS
Amounts falling due after more than
one year

8

21,244

21,343
NET LIABILITIES (61,184 ) (49,720 )

SGEE Limited (Registered number: SC653426)

Balance Sheet - continued
29 February 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (61,284 ) (49,820 )
(61,184 ) (49,720 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





Ms E A Elliott - Director


SGEE Limited (Registered number: SC653426)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

SGEE Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover and revenue recognition
Turnover, which represents net invoiced sales of goods, is recognised at the point when a meal is served or delivered to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Lease premium are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

SGEE Limited (Registered number: SC653426)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 24,622
AMORTISATION
At 1 March 2023 7,386
Charge for year 2,462
At 29 February 2024 9,848
NET BOOK VALUE
At 29 February 2024 14,774
At 28 February 2023 17,236

SGEE Limited (Registered number: SC653426)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 46,904
Additions 370
At 29 February 2024 47,274
DEPRECIATION
At 1 March 2023 26,405
Charge for year 10,767
At 29 February 2024 37,172
NET BOOK VALUE
At 29 February 2024 10,102
At 28 February 2023 20,499

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 1,270 6,649

Amounts falling due after more than one year:
Other debtors 2,500 3,500

Aggregate amounts 3,770 10,149

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,534 6,435
Trade creditors 3,109 1,770
Taxation and social security 17,478 18,770
Other creditors 51,728 56,775
78,849 83,750

SGEE Limited (Registered number: SC653426)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The directors' current accounts are unsecured, interest free and have no fixed repayment period.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 21,244 21,343

9. LEASING AGREEMENTS
The company has future operating lease commitments of £96,250 (2023: £111,250).

10. GOING CONCERN

The financial statements have been prepared on the going concern principal which assumes that the company will continue to function in the foreseeable future. In order to do so the company will require the continued support of its directors and bankers. The directors will continue to support the company and are confident of the continued support of the bank.