Company Registration No. SC816442 (Scotland)
SGMSC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
James Hair Group Limited
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
SGMSC LIMITED
BALANCE SHEET
AS AT 31 JULY 2025
31 July 2025
- 1 -
2025
Notes
£
£
Fixed assets
Tangible assets
3
989
Current assets
Stocks
3,717
Debtors
4
3,108
Cash at bank and in hand
8,733
15,558
Creditors: amounts falling due within one year
5
(16,035)
Net current liabilities
(477)
Total assets less current liabilities
512
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
412
Total equity
512

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 2 April 2026 and are signed on its behalf by:
Miss G Naysmith
Director
Company Registration No. SC816442
SGMSC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2025
- 2 -
1
Accounting policies
Company information

SGMSC Limited is a private company limited by shares incorporated in Scotland. The registered office is 2 West View, Peat Inn, CUPAR, Fife, KY15 5LH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

T urnover comprises the invoiced value of goat milk soap making provided by the company, net of Value Added Tax and trade discounts.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks and work in progress including short term contracts are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost comprises direct expenditure and an appropriate proportion of fixed and variable overheads.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.

SGMSC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts paid by the company to the funds in respect of the year.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
Number
Total
4
3
Tangible fixed assets
Plant and equipment
£
Cost
At 15 July 2024
-
0
Additions
1,236
At 31 July 2025
1,236
Depreciation and impairment
At 15 July 2024
-
0
Depreciation charged in the period
247
At 31 July 2025
247
Carrying amount
At 31 July 2025
989
SGMSC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2025
- 4 -
4
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
1,458
Prepayments and accrued income
1,650
3,108
5
Creditors: amounts falling due within one year
2025
£
Corporation tax
99
Other taxation and social security
1,369
Other creditors
10,906
Directors current accounts
1,451
Accruals and deferred income
2,210
16,035
6
Called up share capital
2025
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100

During the period 100 £1 o ordinary shares were allotted and issued at par value. The reason for this issue was to raise the initial share capital of the company.

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