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Registered number: 03650269









Scapa Denver (North) Limited









Financial statements

Information for filing with the registrar

For the year ended 31 December 2023

 
Scapa Denver (North) Limited
Registered number: 03650269

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1
1

Current assets
  

Debtors
 5 
12,945,202
13,371,826

Net assets
  
12,945,203
13,371,827


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
12,945,202
13,371,826

  
12,945,203
13,371,827


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


W Dickinson
Director

Date: 25 September 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
Scapa Denver (North) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

1.


General information

Scapa Denver (North) Limited (‘the Company’) is a private company limited by shares incorporated in England and Wales. The address of the registered office is Manchester Road, Ashton Under Lyne, Greater Manchester, OL7 0ED and the company registration number is 03650269. 
The principal activity of the Company is to act as an intermediate holding company within the Mativ Inc group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 2

 
Scapa Denver (North) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 -£NIL).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
1



At 31 December 2023
1





5.


Debtors

2023
2022
£
£

Due after more than one year

Deferred tax asset
-
672,327

Due within one year

Amounts owed by group undertakings
12,945,202
12,699,499

12,945,202
13,371,826


Amounts receivable from parent undertakings comprise loans with terms of more than 1 year. The loans are unsecured and carry interest at a fixed rate being 1.928% for the current period. 

Page 3

 
Scapa Denver (North) Limited
 
 
 
Notes to the Financial Statements
For the year ended 31 December 2023

6.


Controlling party

The Company's immediate parent company is First Water Limited, a company incorporated in England and Wales.
The ultimate parent undertaking and controlling party is Mativ Holdings Inc., which is the parent undertaking of the smallest and largest group to consolidate these financial statements.
Copies of the consolidated financial statements of Mativ Holdings Inc. may be obtained from its registered office, from the Company Secretary, Mativ Holdings Inc., 100 Kimball Place, Suite 600 Alpharetta, Georgia, 30009, USA.


7.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 26 September 2024 by Helen Besant Roberts (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

Page 4