Registration number:
SCI Shef Co. Limited
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 |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Revaluation reserve |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' funds |
|
|
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 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
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 |
|
|
( |
|
Loss for the year |
- |
- |
( |
( |
Transfer deferred tax |
- |
|
( |
- |
Total comprehensive income |
- |
|
( |
( |
At 31 July 2023 |
|
|
( |
|
Share capital |
Revaluation reserve |
Profit and loss account |
Total |
|
At 1 August 2021 |
|
|
( |
|
Profit for the year |
- |
- |
|
|
Transfer deferred tax |
- |
( |
|
- |
Total comprehensive income |
- |
( |
|
|
At 31 July 2022 |
|
|
( |
|
SCI Shef Co. Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023
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
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
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
SCI Shef Co. Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)
Tangible assets |
Investment properties |
|
Cost or valuation |
|
At 1 August 2022 |
|
At 31 July 2023 |
|
Depreciation |
|
Carrying amount |
|
At 31 July 2023 |
|
At 31 July 2022 |
|
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).
Debtors |
2023 |
2022 |
|
Prepayments |
|
|
Other debtors |
|
|
|
|
SCI Shef Co. Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)
Creditors |
2023 |
2022 |
|
Due within one year |
||
Accruals |
|
|
Due after one year |
||
Directors' current account |
7,343 |
7,843 |
Other creditors |
200,000 |
200,000 |
207,343 |
207,843 |
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.