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Registered Number: 11757816
England and Wales

 

 

 

SDC UK HOLDING LTD


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Report to the directors on the preparation of the unaudited statutory accounts of SDC UK Holding ltd for the year ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SDC UK Holding ltd for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given to us.

This report is made solely to the Board of Directors of SDC UK Holding ltd, as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of SDC UK Holding ltd and state those matters that we have agreed to state to the Board of Directors of SDC UK Holding ltd, as a body, in this report.To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SDC UK Holding ltd and its Board of Directors as a body for our work or for this report.


It is your duty to ensure that SDC UK Holding ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of SDC UK Holding ltd.You consider that SDC UK Holding ltd is exempt from the statutory audit requirement for the year.


We have not been instructed to carry out an audit of the accounts of SDC UK Holding ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements 31 March 2023.



....................................................
66 PAH
8 Hill Street
London
W1J 5NG
28 November 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Investments 3 3,930,171    3,273,075 
3,930,171    3,273,075 
Current assets      
Cash at bank and in hand 1,586    3,361 
Creditors: amount falling due within one year (476,861)   (629,556)
Net current liabilities (475,275)   (626,195)
 
Total assets less current liabilities 3,454,896    2,646,880 
Net assets 3,454,896    2,646,880 
 

Capital and reserves
     
Called up share capital 4 908    908 
Reserves 5 873,042    873,042 
Profit and loss account 2,580,946    1,772,930 
Shareholder's funds 3,454,896    2,646,880 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 28 November 2023 and were signed by:


-------------------------------
Jonathan COENCA
Director
2
General Information
SDC UK Holding ltd is a private company, limited by shares, registered in England and Wales, registration number 11757816, registration address 76 New Bond Street, London, W1S 1RX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value or any revaluation taken to the Revaluation account.
When the investment is interest in a Partnership, the share of profit/loss is added or deducted from the investment.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.


Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Investments

Cost Other investments other than loans   Loans to participating interests   Total
  £   £   £
At 01 April 2022 3,224,676    48,400    3,273,076 
Additions 682,261    145,000    827,261 
Transfer to/from tangible fixed assets    
Disposals (170,166)     (170,166)
At 31 March 2023 3,736,771    193,400    3,930,171 

4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
908 Ordinary shares of £1.00 each 908    908 
908    908 

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Shareholder's loan429,507 612,759 

During the period, the Company's sole shareholder made an interest free loan repayable on demand for £429,507 (2022: £612,759). This amount is included in other creditors.
3