Registered number
03115471
SCP Contracts Limited
Unaudited Filleted Accounts
31 December 2023
SCP Contracts Limited Registered number: 03115471
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,162 2,079
Current assets
Stocks 352,402 414,232
Debtors 4 1,163,153 740,688
Cash at bank and in hand 752,163 410,950
2,267,718 1,565,870
Creditors: amounts falling due within one year 5 (1,404,533) (1,057,575)
Net current assets 863,185 508,295
Total assets less current liabilities 865,347 510,374
Provisions for liabilities - Deferred tax - (395)
Net assets 865,347 509,979
Capital and reserves
Called up share capital 100 100
Profit and loss account 865,247 509,879
Shareholders' funds 865,347 509,979
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S. Coakley
Director
Approved by the board on 30 July 2024
SCP Contracts Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the amount (excluding value added tax) derived from the provision of goods and services to customers during the year.
Tangible fixed assets and depreciation
Depreciation is provided by the company to write off the cost or valuation less estimated residual value of its tangible fixed assets, other than freehold land by equal annual instalments over their useful econimic lives as follows:
Furniture, fixtures, plant and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 13
3 Tangible fixed assets
Furniture, fixtures, plant & equipment
£
Cost
At 1 January 2023 57,151
Additions 1,422
Scrapped (53,220)
At 31 December 2023 5,353
Depreciation
At 1 January 2023 55,072
Charge for the year 1,339
Scrapped (53,220)
At 31 December 2023 3,191
Net book value
At 31 December 2023 2,162
At 31 December 2022 2,079
4 Debtors 2023 2022
£ £
Trade debtors 1,142,788 714,311
Other debtors 20,365 26,377
1,163,153 740,688
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 846,678 824,843
Amounts owed to group undertakings 26,087 60,131
Taxation and social security costs 450,942 125,492
Other creditors 80,826 47,109
1,404,533 1,057,575
6 Contingent liabilities
At the balance sheet date there was a contingent liability in respect of a cross guarantee given by the company to the bank in favour of its parent undertaking, SCP Limited.
7 Controlling party
The company parent undertaking is SCP Limited, incorporated in England & Wales. Its registered office and principal place of business is 135 - 139 Curtain Road, London EC2A 3BX.
8 Related party transactions
During the year the company received goods and services in the ordinary course of business from its parent undertaking, SCP Limted, totalling £460,854. At 31 December 2023 the amount owed to SCP Limited was £26,087.
9 Other information
SCP Contracts Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is:
135 - 139 Curtain Road
London
EC2A 3BX
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