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Company No: 04055780 (England and Wales)

SCS LINK LTD

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

SCS LINK LTD

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

SCS LINK LTD

BALANCE SHEET

As at 31 October 2023
SCS LINK LTD

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 149,609 152,144
Investments 4 100,760 100,760
250,369 252,904
Current assets
Debtors 5 568 15
Cash at bank and in hand 804,046 666,053
804,614 666,068
Creditors: amounts falling due within one year 6 ( 9,911) ( 3,432)
Net current assets 794,703 662,636
Total assets less current liabilities 1,045,072 915,540
Net assets 1,045,072 915,540
Capital and reserves
Called-up share capital 1,502 1,502
Capital redemption reserve 498 498
Profit and loss account 1,043,072 913,540
Total shareholder's funds 1,045,072 915,540

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of SCS Link Ltd (registered number: 04055780) were approved and authorised for issue by the Director on 15 December 2023. They were signed on its behalf by:

Andrew Trevor Kettle
Director
SCS LINK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
SCS LINK LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

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.

General information and basis of accounting

SCS Link Ltd (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 Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, 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 £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Dividend income

Dividend income is recognised when the company's right to receive payment has been established.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

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.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 November 2022 165,116 32,010 197,126
At 31 October 2023 165,116 32,010 197,126
Accumulated depreciation
At 01 November 2022 14,311 30,671 44,982
Charge for the financial year 2,201 334 2,535
At 31 October 2023 16,512 31,005 47,517
Net book value
At 31 October 2023 148,604 1,005 149,609
At 31 October 2022 150,805 1,339 152,144

4. Fixed asset investments

2023 2022
£ £
Subsidiary undertakings 100,760 100,760

Investments in subsidiaries

2023
£
Cost
At 01 November 2022 100,760
At 31 October 2023 100,760
Carrying value at 31 October 2023 100,760
Carrying value at 31 October 2022 100,760

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
31.10.2023
Ownership
31.10.2022
Servo Components & Systems Limited Towngate House, 2-8 Parkstone Road, Poole, Dorset, BH15 2PW distribution of equipment and providers of ancillary services. Ordinary 50.00% 50.00%
SCS Automation & Control Limited Towngate House, 2-8 Parkstone Road, Poole, Dorset, BH15 2PW distribution of equipment and providers of ancillary services. Ordinary 100.00% 100.00%

5. Debtors

2023 2022
£ £
Trade debtors 568 0
Other debtors 0 15
568 15

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 9,036 2,607
Other creditors 875 825
9,911 3,432