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REGISTERED NUMBER: 09768736 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

SFC Holdings Ltd

SFC Holdings Ltd (Registered number: 09768736)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


SFC Holdings Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M Rice
P Rice
V Rice
E Scrivens





SECRETARY: E Scrivens





REGISTERED OFFICE: Southgate and Finchley Coach Depot
231A Colney Hatch Lane
London
N11 3DG





REGISTERED NUMBER: 09768736 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
SFC Holdings Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SFC Holdings Ltd for the year ended 31 October 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of SFC Holdings Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SFC Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of SFC Holdings Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SFC Holdings Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SFC Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SFC Holdings Ltd. You consider that SFC Holdings Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of SFC Holdings 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 statutory financial statements.






Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE


8 March 2024

SFC Holdings Ltd (Registered number: 09768736)

Balance Sheet
31 October 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,000 1,000
Investment property 5 1,536,561 1,536,561
1,537,561 1,537,561

CURRENT ASSETS
Debtors 6 178,442 178,442
Cash at bank 39,605 31,198
218,047 209,640
CREDITORS
Amounts falling due within one year 7 39,841 32,499
NET CURRENT ASSETS 178,206 177,141
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,715,767

1,714,702

CREDITORS
Amounts falling due after more than one year 8 436,029 460,520
NET ASSETS 1,279,738 1,254,182

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 1,278,738 1,253,182
SHAREHOLDERS' FUNDS 1,279,738 1,254,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SFC Holdings Ltd (Registered number: 09768736)

Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:




E Scrivens - Director



P Rice - Director


SFC Holdings Ltd (Registered number: 09768736)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

SFC Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 November 2022
and 31 October 2023 1,000
NET BOOK VALUE
At 31 October 2023 1,000
At 31 October 2022 1,000

SFC Holdings Ltd (Registered number: 09768736)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Southgate & Finchley Coaches Limited
Registered office: 231A Colney Hatch Lane, London, N11 3DG
Nature of business: Passenger service vehicle operations
%
Class of shares: holding
Ordinary 100.00
Ordinary 'A' and Ordinary 'B' 100.00
31/10/23 31/10/22
£    £   
Aggregate capital and reserves 464,197 332,813
Profit for the year 274,513 199,552

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 1,536,561
NET BOOK VALUE
At 31 October 2023 1,536,561
At 31 October 2022 1,536,561

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Amounts owed by group undertakings 178,442 178,442

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Bank loans and overdrafts 29,886 26,712
Trade creditors 2 1
Taxation and social security 5,953 5,786
Other creditors 4,000 -
39,841 32,499

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/23 31/10/22
£    £   
Bank loans 436,029 460,520

SFC Holdings Ltd (Registered number: 09768736)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31/10/23 31/10/22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 294,127 311,226

The bank loan is secured over the freehold properties at 231A Colney Hatch Lane, London N11 3DG

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/10/23 31/10/22
value: £    £   
100 Ordinary £1 100 100
450 Ordinary A £1 450 450
450 Ordinary B £1 450 450
1,000 1,000

10. CONTINGENT LIABILITIES

The company has signed a cross guarantee with its subsidiary, Southgate & Finchley Coaches Limited, whereby any borrowings by either company is guaranteed by the other. The contingent liability at the balance sheet date was £36,492 (2022: £42,109).

11. RELATED PARTY DISCLOSURES

During the year the company received rent of £48,000 (2022: £48,000) from Southgate & Finchley Coaches Limited.

At the balance sheet date £178,442 (2022: £178,442) was due from Southgate & Finchley Coaches Limited.

12. CONTROL

The Company is not controlled by any one individual.