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REGISTERED NUMBER: 04026644 (England and Wales)


























Unaudited Financial Statements

for the Period

1 April 2023 to 31 December 2023

for

SCS Technology Solutions Limited

SCS Technology Solutions Limited (Registered number: 04026644)






Contents of the Financial Statements
for the Period 1 April 2023 to 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


SCS Technology Solutions Limited

Company Information
for the Period 1 April 2023 to 31 December 2023







DIRECTORS: M A Lovett
J P Healey
J H Steventon





REGISTERED OFFICE: Unit 7 Interchange 25 Business Park
Bostocks Lane
Nottingham
Nottinghamshire
NG10 5QG





BUSINESS ADDRESS: Unit 1
Exchange Close
North Hykeham
Lincoln
Lincolnshire
LN6 3TR





REGISTERED NUMBER: 04026644 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
SCS Technology Solutions Limited

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 SCS Technology Solutions Limited for the period ended 31 December 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 SCS Technology Solutions Limited, 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 SCS Technology Solutions Limited and state those matters that we have agreed to state to the Board of Directors of SCS Technology Solutions Limited, 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 SCS Technology Solutions Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SCS Technology Solutions Limited 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 SCS Technology Solutions Limited. You consider that SCS Technology Solutions Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of SCS Technology Solutions Limited. 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.






Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG


29 August 2024

SCS Technology Solutions Limited (Registered number: 04026644)

Balance Sheet
31 December 2023

2023 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 443,196 364,763
443,196 364,763

CURRENT ASSETS
Stocks 41,765 93,011
Debtors 6 449,237 450,475
Cash at bank and in hand 536,843 531,367
1,027,845 1,074,853
CREDITORS
Amounts falling due within one year 7 709,012 849,028
NET CURRENT ASSETS 318,833 225,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

762,029

590,588

CREDITORS
Amounts falling due after more than one
year

8

(69,996

)

-

PROVISIONS FOR LIABILITIES (32,935 ) (5,652 )
NET ASSETS 659,098 584,936

CAPITAL AND RESERVES
Called up share capital 11 33 33
Share premium 12 17,274 17,274
Revaluation reserve 12 99,409 103,040
Capital redemption reserve 12 17 17
Retained earnings 12 542,365 464,572
SHAREHOLDERS' FUNDS 659,098 584,936

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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.

SCS Technology Solutions Limited (Registered number: 04026644)

Balance Sheet - continued
31 December 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 29 August 2024 and were signed on its behalf by:





M A Lovett - Director


SCS Technology Solutions Limited (Registered number: 04026644)

Notes to the Financial Statements
for the Period 1 April 2023 to 31 December 2023

1. STATUTORY INFORMATION

SCS Technology Solutions Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover is recognised on an accruals basis within the period in which it relates.

Intangible assets
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Other intangible assets-33% on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Office equipment - 33% on cost and 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

SCS Technology Solutions Limited (Registered number: 04026644)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company contributes to a group pension scheme. Contributions payable for the year are charged in the profit and loss account.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2023 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 December 2023 11,690
AMORTISATION
At 1 April 2023
and 31 December 2023 11,690
NET BOOK VALUE
At 31 December 2023 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST OR VALUATION
At 1 April 2023 325,000 82,363 1,827
Additions - - -
Disposals - - -
At 31 December 2023 325,000 82,363 1,827
DEPRECIATION
At 1 April 2023 8,667 70,960 1,827
Charge for period 4,875 1,571 -
Eliminated on disposal - - -
At 31 December 2023 13,542 72,531 1,827
NET BOOK VALUE
At 31 December 2023 311,458 9,832 -
At 31 March 2023 316,333 11,403 -

SCS Technology Solutions Limited (Registered number: 04026644)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 31,490 61,261 501,941
Additions 198,290 3,264 201,554
Disposals (103,229 ) - (103,229 )
At 31 December 2023 126,551 64,525 600,266
DEPRECIATION
At 1 April 2023 - 55,724 137,178
Charge for period 20,618 3,581 30,645
Eliminated on disposal (10,753 ) - (10,753 )
At 31 December 2023 9,865 59,305 157,070
NET BOOK VALUE
At 31 December 2023 116,686 5,220 443,196
At 31 March 2023 31,490 5,537 364,763

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2014 38,732 - 38,732
Valuation in 2022 65,000 - 65,000
Cost 221,268 275,266 496,534
325,000 275,266 600,266

If Freehold property had not been revalued it would have been included at the following historical cost:

2023 2023
£    £   
Cost 221,268 221,268
Aggregate depreciation 81,869 81,869

Freehold property was valued on an open market basis on 30 November 2021 by Banks, Long & Co .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
Additions 95,061
At 31 December 2023 95,061
DEPRECIATION
Charge for period 3,961
At 31 December 2023 3,961
NET BOOK VALUE
At 31 December 2023 91,100

SCS Technology Solutions Limited (Registered number: 04026644)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 305,312 362,288
Other debtors 143,925 88,187
449,237 450,475

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Hire purchase contracts (see note 9) 23,200 -
Trade creditors 110,615 97,755
Corporation tax 83,304 87,580
Social security and other taxes 13,525 13,489
VAT 47,680 78,444
Other creditors 20,210 24,880
Deferred income 410,478 546,880
709,012 849,028

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Hire purchase contracts (see note 9) 69,996 -

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2023
£    £   
Net obligations repayable:
Within one year 23,200 -
Between one and five years 69,996 -
93,196 -

Non-cancellable operating leases
2023 2023
£    £   
Within one year 32,681 26,158
Between one and five years 24,723 25,886
57,404 52,044

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2023
£    £   
Hire purchase contracts 93,196 -

The hire purchase contract is secured by the asset to which it relates.

SCS Technology Solutions Limited (Registered number: 04026644)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 31 December 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2023
value: £    £   
325 Ordinary 10p 10p 33 33
1 A Ordinary 10p - -
1 B Ordinary 10p - -
1 C Ordinary 10p - -
33 33

12. RESERVES
Capital
Retained Share Revaluation redemption
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 April 2023 464,572 17,274 103,040 17 584,903
Profit for the period 324,162 324,162
Dividends (250,000 ) (250,000 )
Transfer 3,631 - (3,631 ) - -
At 31 December 2023 542,365 17,274 99,409 17 659,065