Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 SC527591 Mrs SABA AYUB Mr Muhammad Qasim SOHAIL iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC527591 2023-02-28 SC527591 2024-02-29 SC527591 2023-03-01 2024-02-29 SC527591 frs-core:CurrentFinancialInstruments 2024-02-29 SC527591 frs-core:Non-currentFinancialInstruments 2024-02-29 SC527591 frs-core:FurnitureFittings 2023-03-01 2024-02-29 SC527591 frs-core:MotorVehicles 2023-03-01 2024-02-29 SC527591 frs-core:ShareCapital 2024-02-29 SC527591 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 SC527591 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 SC527591 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 SC527591 frs-bus:SmallEntities 2023-03-01 2024-02-29 SC527591 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 SC527591 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 SC527591 frs-bus:Director1 2023-03-01 2024-02-29 SC527591 frs-bus:Director2 2023-03-01 2024-02-29 SC527591 frs-countries:Scotland 2023-03-01 2024-02-29 SC527591 2022-02-28 SC527591 2023-02-28 SC527591 2022-03-01 2023-02-28 SC527591 frs-core:CurrentFinancialInstruments 2023-02-28 SC527591 frs-core:Non-currentFinancialInstruments 2023-02-28 SC527591 frs-core:ShareCapital 2023-02-28 SC527591 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: SC527591
Seedhill Superstore Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
SHAH & CO.
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC527591
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 30,991 36,651
Cash at bank and in hand 101 648
31,092 37,299
Creditors: Amounts Falling Due Within One Year 5 (3 ) -
NET CURRENT ASSETS (LIABILITIES) 31,089 37,299
TOTAL ASSETS LESS CURRENT LIABILITIES 31,089 37,299
Creditors: Amounts Falling Due After More Than One Year 6 (33,217 ) (38,377 )
NET LIABILITIES (2,128 ) (1,078 )
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account (2,228 ) (1,178 )
SHAREHOLDERS' FUNDS (2,128) (1,078)
Page 1
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For the year ending 29 February 2024 the company was entitled to exemption from audit 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs SABA AYUB
Director
19/11/2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Seedhill Superstore Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC527591 . The registered office is 19 , Seedhill Road, Paisley, PA1 1RT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 18%
Fixtures & Fittings 18%
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Debtors
2024 2023
£ £
Due within one year
Other debtors 30,991 36,651
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 3 -
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bounce Back Loan 33,217 38,377
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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