ACCOUNTS - Final Accounts

Registered number: SO308161

SSEI GP LLP

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

REGISTERED NUMBER:SO308161

SSEI GP LLP

BALANCE SHEET

AS AT 31 DECEMBER 2025

		2025
Note		£


Current assets
Debtors: amounts falling due after more than one year	4	90,000
Debtors: amounts falling due within one year	4	5,174
Bank and cash balances		4,908
		100,082
Creditors: Amounts Falling Due Within One Year	5	(82)
Net current assets			100,000
Total assets less current liabilities			100,000
Creditors: amounts falling due after more than one year			(100,000)
			-

Net assets			-

Represented by:
Loans and other debts due to members within one year

			-

Total members' interests
Amounts due from members (included in debtors)	4	(5,174)
		(5,174)

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

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

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 22 September 2026.

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REGISTERED NUMBER:SO308161

SSEI GP LLP

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2025

R Desborough

Designated member

The notes on pages 4 to 6 form part of these financial statements.

SSEI GP LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

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SSEI GP LLP

RECONCILIATION OF MEMBERS' INTERESTS

FOR THE PERIOD ENDED 31 DECEMBER 2025


	DEBT Loans and other debts due to members less any amounts due from members in debtors
	Other amounts	Total
	£	£
At Incorporation	-	-
Members' remuneration charged as an expense	(174)	(174)
Amounts withdrawn by members	(5,000)	(5,000)
Amounts due to members	-	-
Amounts due from members	(5,174)	(5,174)
Balance at 31 December 2025	(5,174)	(5,174)

The notes on pages 4 to 6 form part of these financial statements.

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SSEI GP LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

1.	General information

SSEI GP LLP is a limited liability partnership incorporated in the UK with registered number SO308161 in Scotland.

The principal activity of the LLP is disclosed in the Members' report.

The LLP's registered address is Suite 2, Ground Floor Orchard Brae House, 30 Queensferry Road, Edinburgh, EH4 2HS.

As the LLP was incorporated during the financial year, no comparative figures have been presented.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise
specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting
Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies
Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the LLP's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

After making enquiries and considering the cash runway of the LLP, the members have a reasonable
expectation that the LLP has adequate resources to continue in operation for the foreseeable future.
Accordingly, the members continue to adopt the going concern basis in preparing the annual report
and financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the LLP will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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SSEI GP LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members.
A division may be automatic or discretionary, may relate to some or all of the profits for a financial
year and may take place during or after the end of a financial year.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid
making a division of an amount of profits based on the members' agreement in force at the time,
whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the
unconditional right to avoid making.

The LLP divides profits automatically after expenses. Automatic divisions of profits are recognised as 'Members remuneration charged as an expense' in the statement of comprehensive income.

In the event of the LLP making losses after expenses, the loss is recognised as a credit amount of 'Members remuneration charged as an expense' where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

Under the terms of the LLP Agreement, profits available for distribution are allocated and distributed to SSEI Founder Limited. The individual members do not have an entitlement to participate in the profits of the LLP while SSEI Founder Limited remains a member.

2.6

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.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

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.

2.9

Taxation

No provision for tax has been made as each member will be responsible for their own tax liability.

Employees


	The average monthly number of employees during the period was 0.

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SSEI GP LLP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2025

4.	Debtors
		2025
		£

	Due after more than one year
	Amounts owed by group undertakings	90,000
		90,000

					2025
					£

	Due within one year
	Amounts due from members	5,174
		5,174

5.	Creditors: Amounts falling due within one year
		2025
		£

	Accruals	82
		82

6.	Creditors: Amounts falling due after more than one year
		2025
		£

	Amounts owed to group undertakings	100,000
		100,000

7.	Related party transactions
	During the year, the LLP received priority profit share from Seraphim Space Enterprise Investments LP in the amount of £180,000. As at the year-end an amount of £90,000 was due to the LLP. During the year, the LLP received services from Seraphim Space Enterprise LLP in the amount of £180,000. As at year-end an amount of £100,000 was due to Seraphim Space Enterprise LLP.

8.	Controlling party

There is no ultimate controlling party.

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