SSC Construction Services Limited
Financial Statements
For Filing with Registrar
For the year ended 30 September 2023
Company Registration No. 01805375 (England and Wales)
SSC Construction Services Limited
Company Information
Directors
M R Stephenson
E Sheil
Company number
01805375
Registered office
Provender Mill
Mill Bay Lane
Horsham
West Sussex
RH12 1SS
Auditors
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
SSC Construction Services Limited
Balance Sheet
As at 30 September 2023
Page 1
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
6,874,099
6,600,335
Cash at bank and in hand
44,294
59,544
6,918,393
6,659,879
Creditors: amounts falling due within one year
5
(2,968,493)
(3,321,954)
Total assets less current liabilities
3,949,900
3,337,925
Capital and reserves
Called up share capital
6
595,000
595,000
Profit and loss reserves
3,354,900
2,742,925
Total equity
3,949,900
3,337,925

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 8 April 2024 and are signed on its behalf by:
M R Stephenson
Director
Company Registration No. 01805375
SSC Construction Services Limited
Notes to the Financial Statements
For the year ended 30 September 2023
Page 2
1
Accounting policies
Company information

SSC Construction Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Provender Mill, Mill Bay Lane, Horsham, West Sussex, RH12 1SS.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company derives its income from fellow subsidiaries in the M R Stephenson Limited group and is party to the group banking facilities as outlined in note 8. As such the company is wholly reliant on the group to remain a going concern. The directors are aware that the group has a strong solvent balance sheet position and know of no reason why that would cease to be the case and as such the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

SSC Construction Services Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
1
Accounting policies
(Continued)
Page 3
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Going concern

The company is reliant on the group for its income. In making the going concern assessment, the directors have made the judgement that the group will continue to be profitable and continue to pay for the services of the company.

3
Employees

The average monthly number of persons employed by the company during the year was: nil (2022: nil).

SSC Construction Services Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
Page 4
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
6,497,970
6,212,423
Other debtors
376,129
387,912
6,874,099
6,600,335
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,790,342
3,205,027
Corporation tax
173,251
112,027
Accruals and deferred income
4,900
4,900
2,968,493
3,321,954
6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
Ordinary shares of £1 each
595,000
595,000
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Ian Matthews.
The auditor was Moore Kingston Smith LLP.
8
Financial commitments, guarantees and contingent liabilities

The company has provided security under a multilateral cross guarantee for a bank pooling facility covering a number of companies under the control of M R Stephenson. The facility allows there to be overdrawn bank accounts across the companies involved up to a total of £20,000,000, providing there are also positive bank balances across the companies that match or exceed the overdrawn accounts. There was no overdraft facility during the year.

SSC Construction Services Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
Page 5
9
Parent company

The immediate and ultimate parent undertaking is M R Stephenson Limited, a company incorporated in England & Wales.

 

No one person controlled the company throughout the year.

 

Group financial statements have been prepared for M R Stephenson Limited and are publicly available from Provender Mill, Mill Bay Lane, Horsham, West Sussex, RH12 1SS.

10
Related party transactions

The company has taken the exemption, in accordance with FRS 102 - Section 33 "Related Party Disclosures", from disclosing related party transactions entered into between members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.

2023-09-302022-10-01false09 April 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedM R StephensonE Sheil0018053752022-10-012023-09-3001805375bus:Director12022-10-012023-09-3001805375bus:Director22022-10-012023-09-3001805375bus:RegisteredOffice2022-10-012023-09-30018053752023-09-30018053752022-09-3001805375core:CurrentFinancialInstruments2023-09-3001805375core:CurrentFinancialInstruments2022-09-3001805375core:ShareCapital2023-09-3001805375core:ShareCapital2022-09-3001805375core:RetainedEarningsAccumulatedLosses2023-09-3001805375core:RetainedEarningsAccumulatedLosses2022-09-3001805375bus:PrivateLimitedCompanyLtd2022-10-012023-09-3001805375bus:SmallCompaniesRegimeForAccounts2022-10-012023-09-3001805375bus:FRS1022022-10-012023-09-3001805375bus:Audited2022-10-012023-09-3001805375bus:FullAccounts2022-10-012023-09-30xbrli:purexbrli:sharesiso4217:GBP