Year Ended
Registration number:
S C (Holdings) Limited
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
S C (Holdings) Limited
Balance Sheet
31 May 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
S C (Holdings) Limited
Balance Sheet
31 May 2023
For the financial year ending 31 May 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 his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 08290354
S C (Holdings) Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
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.
Revenue recognition
Turnover is comprised of management charges to the subsidiary company. The revenue is recognised as management services are provided.
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.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
S C (Holdings) Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2023
Financial instruments
Classification
• Short term and other debtors and creditors;
• Short term inter-company balances; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 June 2022 |
|
Carrying amount |
|
At 31 May 2023 |
|
At 31 May 2022 |
|
S C (Holdings) Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2023
Debtors |
2023 |
2022 |
|
Other debtors |
|
|
|
|
Creditors |
2023 |
2022 |
|
Due within one year |
||
Amounts due to group undertakings |
337,970 |
237,651 |
Accruals |
|
|
Corporation tax |
1,294 |
- |
|
|
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
Ordinary Shares of £1 each |
100 |
100 |
100 |
100 |
B Shares of £1 each |
25 |
25 |
25 |
25 |
|
|
|
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
There is a composite company unlimited multilateral guarantee given by Marston Foods Limited and S C (Holdings) Limited in respect of bank borrowings.The total amount of guarantees not included in the balance sheet is £188,279 (2022 - £282,521).
S C (Holdings) Limited
Notes to the Unaudited Financial Statements
Year Ended 31 May 2023
Related party transactions |
Transactions with the director |
2023 |
At 1 June 2022 |
Advances to director |
Repayments by director |
At 31 May 2023 |
A Director |
||||
Loan - interest free, due on demand |
|
|
( |
|
2022 |
At 1 June 2021 |
Advances to director |
Repayments by director |
At 31 May 2022 |
A Director |
||||
Loan - interest free, due on demand |
|
|
( |
|