SCI Shef Co. Limited 09697479 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is that of property letting. Digita Accounts Production Advanced 6.30.9574.0 true 09697479 2022-08-01 2023-07-31 09697479 2023-07-31 09697479 core:RetainedEarningsAccumulatedLosses 2023-07-31 09697479 core:RevaluationReserve 2023-07-31 09697479 core:ShareCapital 2023-07-31 09697479 core:CurrentFinancialInstruments 2023-07-31 09697479 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 09697479 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 09697479 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 09697479 bus:SmallEntities 2022-08-01 2023-07-31 09697479 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 09697479 bus:FullAccounts 2022-08-01 2023-07-31 09697479 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09697479 bus:Director2 2022-08-01 2023-07-31 09697479 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09697479 core:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 09697479 core:RevaluationReserve 2022-08-01 2023-07-31 09697479 core:ShareCapital 2022-08-01 2023-07-31 09697479 core:InvestmentPropertyIncludedWithinPPE 2022-08-01 2023-07-31 09697479 countries:AllCountries 2022-08-01 2023-07-31 09697479 2022-07-31 09697479 core:RetainedEarningsAccumulatedLosses 2022-07-31 09697479 core:RevaluationReserve 2022-07-31 09697479 core:ShareCapital 2022-07-31 09697479 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-31 09697479 2021-08-01 2022-07-31 09697479 2022-07-31 09697479 core:RetainedEarningsAccumulatedLosses 2022-07-31 09697479 core:RevaluationReserve 2022-07-31 09697479 core:ShareCapital 2022-07-31 09697479 core:CurrentFinancialInstruments 2022-07-31 09697479 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 09697479 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 09697479 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-31 09697479 core:RetainedEarningsAccumulatedLosses 2021-08-01 2022-07-31 09697479 core:RevaluationReserve 2021-08-01 2022-07-31 09697479 core:ShareCapital 2021-08-01 2022-07-31 09697479 2021-07-31 09697479 core:RetainedEarningsAccumulatedLosses 2021-07-31 09697479 core:RevaluationReserve 2021-07-31 09697479 core:ShareCapital 2021-07-31 iso4217:GBP xbrli:pure

Registration number: 09697479

SCI Shef Co. Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023

 

SCI Shef Co. Limited

(Registration number: 09697479)

Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

300,000

300,000

Current assets

 

Debtors

4

808

668

Cash at bank and in hand

 

1,328

5,656

 

2,136

6,324

Creditors: Amounts falling due within one year

5

(1,470)

(1,470)

Net current assets

 

666

4,854

Total assets less current liabilities

 

300,666

304,854

Creditors: Amounts falling due after more than one year

5

(207,343)

(207,843)

Provisions for liabilities

(20,248)

(21,169)

Net assets

 

73,075

75,842

Capital and reserves

 

Called up share capital

4

4

Revaluation reserve

82,559

81,638

Profit and loss account

(9,488)

(5,800)

Shareholders' funds

 

73,075

75,842

For the financial year ending 31 July 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

 

SCI Shef Co. Limited

(Registration number: 09697479)

Balance Sheet as at 31 July 2023 (continued)

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 9 April 2024
 

.........................................

N Gruel
Director

 

SCI Shef Co. Limited

Statement of Changes in Equity for the Year Ended 31 July 2023

Share capital
£

Revaluation reserve
£

Profit and loss account
£

Total
£

At 1 August 2022

4

81,638

(5,800)

75,842

Loss for the year

-

-

(2,767)

(2,767)

Transfer deferred tax

-

921

(921)

-

Total comprehensive income

-

921

(3,688)

(2,767)

At 31 July 2023

4

82,559

(9,488)

73,075

Share capital
£

Revaluation reserve
£

Profit and loss account
£

Total
£

At 1 August 2021

4

83,769

(14,324)

69,449

Profit for the year

-

-

6,393

6,393

Transfer deferred tax

-

(2,131)

2,131

-

Total comprehensive income

-

(2,131)

8,524

6,393

At 31 July 2022

4

81,638

(5,800)

75,842

 

SCI Shef Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

Accounting policies

Statutory information

SCI Shef Co. Limited is a private company, limited by shares, domiciled in England and Wales, company number 09697479. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, S10 2QD.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises tax. Tax is recognised in 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

 

SCI Shef Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

1

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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:

Asset class

Depreciation method and rate

Investment properties

Not depreciated

Investment property

Certain of the company’s properties are held for long-term investment. Investment properties are accounted for as follows:

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the profit and loss account and accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

SCI Shef Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

3

Tangible assets

Investment properties
£

Cost or valuation

At 1 August 2022

300,000

At 31 July 2023

300,000

Depreciation

Carrying amount

At 31 July 2023

300,000

At 31 July 2022

300,000

The investment property was revalued by the director on an open market basis at £300,000 (2022: £300,000). The historical cost of the property was £197,193 (2022: £197,193).

4

Debtors

2023
£

2022
£

Prepayments

804

664

Other debtors

4

4

808

668

 

SCI Shef Co. Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

5

Creditors

2023
£

2022
£

Due within one year

Accruals

1,470

1,470

Due after one year

Directors' current account

7,343

7,843

Other creditors

200,000

200,000

207,343

207,843

6

Related party transactions

During the year the directors had a loan account with the company. At the balance sheet date the
amount due to the directors was £7,343 (2022 : £7,843). The loan is interest free.