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Registration number: 10164678

SC Holdings (Southern) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

SC Holdings (Southern) Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

SC Holdings (Southern) Ltd

Company Information

Director

Mr Simon Putman

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

Accountants

Britannia Accountancy & Tax Services Ltd
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

 

SC Holdings (Southern) Ltd

Director's Report for the Year Ended 31 March 2024

The director presents his report and the financial statements for the year ended 31 March 2024.

Director of the company

The director who held office during the year was as follows:

Mr Simon Putman

Principal activity

The principal activity of the company is management of group affairs

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 31 October 2024 and signed on its behalf by:

.........................................
Mr Simon Putman
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
SC Holdings (Southern) Ltd
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SC Holdings (Southern) Ltd for the year ended 31 March 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of SC Holdings (Southern) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SC Holdings (Southern) Ltd and state those matters that we have agreed to state to the Board of Directors of SC Holdings (Southern) Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SC Holdings (Southern) Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by SC Holdings (Southern) Ltd

It is your duty to ensure that SC Holdings (Southern) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SC Holdings (Southern) Ltd. You consider that SC Holdings (Southern) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of SC Holdings (Southern) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Britannia Accountancy & Tax Services Ltd
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

31 October 2024

 

SC Holdings (Southern) Ltd

Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Turnover

 

-

220,911

Cost of sales

 

(65,000)

-

Gross (loss)/profit

 

(65,000)

220,911

Administrative expenses

 

(54,000)

(54,000)

Other operating income

 

130,000

-

Operating profit

 

11,000

166,911

Profit before tax

4

11,000

166,911

Profit for the financial year

 

11,000

166,911

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

SC Holdings (Southern) Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Profit for the year

11,000

166,911

Total comprehensive income for the year

11,000

166,911

 

SC Holdings (Southern) Ltd

(Registration number: 10164678)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

432,000

486,000

Current assets

 

Stocks

6

155,911

-

Debtors

7

44,000

220,911

 

199,911

220,911

Creditors: Amounts falling due within one year

8

(539,999)

(539,999)

Net current liabilities

 

(340,088)

(319,088)

Net assets

 

91,912

166,912

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

91,911

166,911

Shareholders' funds

 

91,912

166,912

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 October 2024
 

.........................................
Mr Simon Putman
Director

   
     
 

SC Holdings (Southern) Ltd

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

1

166,911

166,912

Profit for the year

-

11,000

11,000

At 31 March 2024

1

177,911

177,912

Share capital
£

Retained earnings
£

Total
£

Profit for the year

-

166,911

166,911

New share capital subscribed

1

-

1

At 31 March 2023

1

166,911

166,912

 

SC Holdings (Southern) Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1633 Parkway
Whiteley
Fareham
Hampshire
PO15 7AH

These financial statements were authorised for issue by the director on 31 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Depreciation

Asset class

Depreciation method and rate

Plant and machinery

18% on net book value

Vehicles

18% on net book value

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

 

SC Holdings (Southern) Ltd

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

SC Holdings (Southern) Ltd

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Amortisation expense

54,000

54,000

 

SC Holdings (Southern) Ltd

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

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

540,000

540,000

At 31 March 2024

540,000

540,000

Amortisation

At 1 April 2023

54,000

54,000

Amortisation charge

54,000

54,000

At 31 March 2024

108,000

108,000

Carrying amount

At 31 March 2024

432,000

432,000

At 31 March 2023

486,000

486,000

6

Stocks

2024
£

2023
£

Work in progress

155,911

-

7

Debtors

Current

2024
£

2023
£

Other debtors

44,000

220,911

 

44,000

220,911

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

539,999

539,999

9

Share capital

Allotted, called up and fully paid shares

 

SC Holdings (Southern) Ltd

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

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

10

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

539,999

539,999

11

Dividends

Final dividends paid

 

2024
£

2023
£

Final dividend of £86,000 (2023 - £0) per each Ordinary share

86,000

-

     

Interim dividends paid

 

2024
£

2023
£

Interim dividend of £0 per each Ordinary share

-

-