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REGISTERED NUMBER: SC246020 (Scotland)












Financial Statements

for the Year Ended 29 February 2024

for

SEDS Scotland Ltd

SEDS Scotland Ltd (Registered number: SC246020)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SEDS Scotland Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: H C Hanlon





SECRETARY: C Hanlon





REGISTERED OFFICE: Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC246020 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

SEDS Scotland Ltd (Registered number: SC246020)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 26,465 -

CURRENT ASSETS
Debtors 5 320,189 165,186
Cash at bank 4,387 1,057
324,576 166,243
CREDITORS
Amounts falling due within one year 6 196,616 39,578
NET CURRENT ASSETS 127,960 126,665
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,425

126,665

CREDITORS
Amounts falling due after more than one year 7 9,973 17,860
NET ASSETS 144,452 108,805

CAPITAL AND RESERVES
Called up share capital 75 75
Capital redemption reserve 25 25
Retained earnings 144,352 108,705
SHAREHOLDERS' FUNDS 144,452 108,805

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 director acknowledges her 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.

SEDS Scotland Ltd (Registered number: SC246020)

Statement of Financial Position - continued
29 February 2024


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 director and authorised for issue on 10 January 2025 and were signed by:





H C Hanlon - Director


SEDS Scotland Ltd (Registered number: SC246020)

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

1. STATUTORY INFORMATION

SEDS Scotland Ltd 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.

Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the invoiced recharge of labour costs, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Improvements to property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Government grants
Grants are accounted for under the accruals model. Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SEDS Scotland Ltd (Registered number: SC246020)

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

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
Additions 21,252 5,026 1,411 27,689
At 29 February 2024 21,252 5,026 1,411 27,689
DEPRECIATION
Charge for year - 754 470 1,224
At 29 February 2024 - 754 470 1,224
NET BOOK VALUE
At 29 February 2024 21,252 4,272 941 26,465

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,493 -
Other debtors 229,696 165,186
320,189 165,186

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,978 8,070
Trade creditors 151,457 -
Taxation and social security 12,730 505
Other creditors 24,451 31,003
196,616 39,578

SEDS Scotland Ltd (Registered number: SC246020)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,973 17,860

8. SECURED DEBTS

The Royal Bank of Scotland holds a bond & floating charge over all property and assets of the company.