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REGISTERED NUMBER: 11734714 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

SC8 Limited

SC8 Limited (Registered number: 11734714)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SC8 Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr S S Chadha
Mrs A Chadha
Mr D J Clinch





REGISTERED OFFICE: Unit 4 Beacon Road
Trafford Park
Manchester
United Kingdom
M17 1AF





REGISTERED NUMBER: 11734714 (England and Wales)





ACCOUNTANTS: ARC & Co. Accountants Limited
Northfield House
Shurdington Road
Bentham
Cheltenham
Gloucestershire
GL51 4UA

SC8 Limited (Registered number: 11734714)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 347,904 33,847
Investments 5 37,050,450 31,664,741
Investment property 6 12,269,461 9,030,750
49,667,815 40,729,338

CURRENT ASSETS
Debtors 7 2,390,086 3,337,007
Cash at bank 9,327,589 10,502,400
11,717,675 13,839,407
CREDITORS
Amounts falling due within one year 8 28,971 641,989
NET CURRENT ASSETS 11,688,704 13,197,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,356,519

53,926,756

CAPITAL AND RESERVES
Called up share capital 10 90 90
Other reserves 11 26,799,990 26,799,990
Retained earnings 11 34,556,439 27,126,676
SHAREHOLDERS' FUNDS 61,356,519 53,926,756

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 3 September 2024 and were signed on its behalf by:



Mr D J Clinch - Director


SC8 Limited (Registered number: 11734714)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

SC8 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 10% on reducing balance

Investments in associates
Investments in associates are held at fair value with changes in fair value recognised in the income statement.

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.

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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

SC8 Limited (Registered number: 11734714)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 45,129 - 45,129
Additions 4,242 365,600 369,842
Disposals (17,250 ) - (17,250 )
At 31 March 2024 32,121 365,600 397,721
DEPRECIATION
At 1 April 2023 11,282 - 11,282
Charge for year 9,522 36,560 46,082
Eliminated on disposal (7,547 ) - (7,547 )
At 31 March 2024 13,257 36,560 49,817
NET BOOK VALUE
At 31 March 2024 18,864 329,040 347,904
At 31 March 2023 33,847 - 33,847

5. FIXED ASSET INVESTMENTS
Interest
in Other
associates investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 27,047,430 4,617,311 31,664,741
Additions 276,829 793,494 1,070,323
Disposals (50,000 ) (3,325,490 ) (3,375,490 )
Revaluations 7,953,404 (262,528 ) 7,690,876
At 31 March 2024 35,227,663 1,822,787 37,050,450
NET BOOK VALUE
At 31 March 2024 35,227,663 1,822,787 37,050,450
At 31 March 2023 27,047,430 4,617,311 31,664,741

Cost or valuation at 31 March 2024 is represented by:

Interest
in Other
associates investments Totals
£    £    £   
Valuation in 2024 35,227,663 1,822,787 37,050,450

The historic costs of Interest in associates and Other investments held at 31 March 2024 are £28,038,229 and £2,861,662 respectively.

SC8 Limited (Registered number: 11734714)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 9,030,750
Additions 3,238,711
At 31 March 2024 12,269,461
NET BOOK VALUE
At 31 March 2024 12,269,461
At 31 March 2023 9,030,750

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 12,269,461

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

31.3.24 31.3.23
£    £   
Cost 12,269,461 9,030,750

Investment property was valued on an open market basis on 31 March 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 750 -
Amounts owed by participating interests 1,667,617 1,639,490
Amounts owed by associates 525,000 450,000
Other debtors 15,000 15,080
Directors' current accounts - 1,062,221
Corporation tax 23,691 -
VAT 29,483 -
Deferred tax asset 110,545 170,216
Prepayments 18,000 -
2,390,086 3,337,007

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 515,000
Trade creditors 1,689 2
Corporation tax 35 83,780
VAT - 10,441
Other creditors - 2,014
Directors' current accounts 143 -
Accruals and deferred income 27,104 30,752
28,971 641,989

SC8 Limited (Registered number: 11734714)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. DEFERRED TAX
£   
Balance at 1 April 2023 (170,216 )
Charge to Income Statement during year 59,671
Balance at 31 March 2024 (110,545 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
90 Ordinary £1 90 90

11. RESERVES

Other reserves represent the excess over the nominal value of the 10 £1 Ordinary shares issued in exchange for 27,501,250 10p B Ordinary shares in Supreme Limited (now Supreme plc) in 2019.

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr S S Chadha
Balance outstanding at start of year 1,062,221 -
Amounts advanced - 1,062,221
Amounts repaid (1,062,221 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,062,221

The balance on Mr Chadha's account at 31 March 2024 was £143 in credit. Interest has been charged on the outstanding amounts at the appropriate rates.

13. RELATED PARTY DISCLOSURES

During the year Mr S S Chadha received dividends from the company of £934,000.

The amounts owed by associates at 31 March 2024 were £525,000 (2023 - £450,000). The balances are repayable on demand and accrue interest where appropriate. The interest charged in the year was £nil (2023 - £nil).

The amounts owed by other related parties at 31 March 2024 were £1,667,617 (2023 - £1,639,490). The balances are repayable on demand and accrue interest where appropriate. The interest charged in the year was £28,127 (2023 - £29,386).

31.3.24 31.3.24 31.3.23 31.3.23
Capital Interest Capital Interest
£ £ £ £
Nash Peters 1,610,104 57,513 1,610,104 29,386
Yours F&B - - 450,000 -
Bonbon Leisure Ltd 250,000 - - -
Arc 88 Limited 275,000 - - -