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COMPANY REGISTRATION NUMBER: 13779635
Sourcecircle Group Limited
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Sourcecircle Group Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
10,738,000
10,738,000
Current assets
Cash at bank and in hand
469
Creditors: amounts falling due within one year
5
500
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Net current liabilities
31
---------------
---------------
Total assets less current liabilities
10,737,969
10,738,000
---------------
---------------
Capital and reserves
Called up share capital
10,738,000
10,738,000
Profit and loss account
( 31)
---------------
---------------
Shareholders funds
10,737,969
10,738,000
---------------
---------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sourcecircle Group Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 12 September 2024 , and are signed on behalf of the board by:
D A King
Director
Company registration number: 13779635
Sourcecircle Group Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Swan Lake Glass Works, Upperton Road, Leicester, LE2 7AY, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4. Investments
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
10,738,000
---------------
Impairment
At 1 April 2023 and 31 March 2024
---------------
Carrying amount
At 31 March 2024
10,738,000
---------------
At 31 March 2023
10,738,000
---------------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
500
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