Company No:
Contents
DIRECTORS | Mr S Fidler |
Mr D R Sams | |
Mr J T Sams | |
Mr R P Sams | |
Mrs S Sams | |
Mr T J Sams | |
Mr M R Shaw |
SECRETARY | Mr M R Shaw |
REGISTERED OFFICE | Quantum House |
Steamer Quay | |
Totnes | |
TQ9 5AL | |
United Kingdom |
COMPANY NUMBER | 01766062 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Sigma House | |
Oak View Close | |
Edginswell Park | |
Torquay | |
TQ2 7FF |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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1,094,072 | 1,101,943 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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2,581,741 | 2,512,914 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 889,262 | 374,567 | ||
Total assets less current liabilities | 1,983,334 | 1,476,510 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Scope Communications UK Limited (registered number:
Mr S Fidler
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Scope Communications UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.
The address of the Company's registered office is:
Quantum House
Steamer Quay
Totnes
Devon
TQ9 5AL
United Kingdom
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
In the opinion of the directors , the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and retained Earnings except when deferred in Other Comprehensive Income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and retained Earnings within 'other operating income'.
The company recognises revenue when:
The amount of revenue can be reliably measures;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal on constructive obligation to pay further contributions even if the find does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution sue for service, the excess is recognised as a prepayment.
Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted of substantively enacted by the reporting date in the countries where the company operates and generated taxable income.
Deferred tax
Deferred tax is recognised on tall timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profits.
The costs of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives as follows:
Land and buildings |
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Plant and machinery |
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Computer equipment |
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Rentals paid under operating leases are charged to the Satetemnt of Income and retained Earnings on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
the company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered to before the date of transition to the standard on 1 April 2016 to continue to be charged over the period to the first market rent review rather than the term of the lease.
The costs of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Grant income is accounted for using the accruals method. Revenue grants are recognised on a systematic basis over the periods to which the costs to which the grants relate are recognised. Capital grants are recognised over the useful life of the related asset on the same basis as depreciation is charges.
Provisions are charges as an expense to the Statement of Income and retained Earnings in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, t hey are charged to the provision carried in the Statement of Financial Position.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Plant and machinery | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2022 |
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Additions |
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At 31 March 2023 |
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Accumulated depreciation | |||||||
At 01 April 2022 |
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Charge for the financial year |
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At 31 March 2023 |
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Net book value | |||||||
At 31 March 2023 |
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At 31 March 2022 |
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2023 | 2022 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Accruals |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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