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COMPANY REGISTRATION NUMBER: 12951084
Scuzi Limited
Filleted Unaudited Financial Statements
31 December 2023
Scuzi Limited
Statement of Financial Position
31 December 2023
31 Dec 23
1 Jan 23
Note
£
£
Fixed Assets
Tangible assets
5
548,273
269,414
Current Assets
Stocks
136,825
83,682
Debtors
6
159,741
60,925
Cash at bank and in hand
111,280
114,991
---------
---------
407,846
259,598
Creditors: amounts falling due within one year
7
( 426,275)
( 274,332)
---------
---------
Net Current Liabilities
( 18,429)
( 14,734)
---------
---------
Total Assets Less Current Liabilities
529,844
254,680
Creditors: amounts falling due after more than one year
8
( 623,273)
( 283,933)
---------
---------
Net Liabilities
( 93,429)
( 29,253)
---------
---------
Capital and Reserves
Called up share capital
100
100
Profit and loss account
( 93,529)
( 29,353)
--------
--------
Shareholders Deficit
( 93,429)
( 29,253)
--------
--------
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 income statement has not been delivered.
For the period ending 31 December 2023 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 period 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 .
Scuzi Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 13 September 2024 , and are signed on behalf of the board by:
Mr Mehdi Gashi
Director
Company registration number: 12951084
Scuzi Limited
Notes to the Financial Statements
Period from 2 January 2023 to 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 4, 34a Waterloo Road, London, NW2 7UH.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% reducing balance
Equipment
-
33% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 53 (2023: 53 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 2 January 2023
309,698
32,133
341,831
Additions
350,948
20,266
371,214
---------
--------
---------
At 31 December 2023
660,646
52,399
713,045
---------
--------
---------
Depreciation
At 2 January 2023
62,730
9,687
72,417
Charge for the period
80,556
11,799
92,355
---------
--------
---------
At 31 December 2023
143,286
21,486
164,772
---------
--------
---------
Carrying amount
At 31 December 2023
517,360
30,913
548,273
---------
--------
---------
At 1 January 2023
246,968
22,446
269,414
---------
--------
---------
6. Debtors
31 Dec 23
1 Jan 23
£
£
Other debtors
159,741
60,925
---------
--------
7. Creditors: amounts falling due within one year
31 Dec 23
1 Jan 23
£
£
Trade creditors
140,977
55,269
Social security and other taxes
143,907
117,037
Other creditors
141,391
102,026
---------
---------
426,275
274,332
---------
---------
8. Creditors: amounts falling due after more than one year
31 Dec 23
1 Jan 23
£
£
Other creditors
623,273
283,933
---------
---------
9. Directors' advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
31 Dec 23
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr Jonathan Samuel Kaye
( 200,000)
( 300,000)
( 500,000)
---------
---------
---------
1 Jan 23
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr Jonathan Samuel Kaye
( 300,000)
100,000
( 200,000)
---------
---------
---------