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REGISTERED NUMBER: 07360013 (England and Wales)










Unaudited Financial Statements

for the Year Ended 28 February 2024

for

SSC Holdings (UK) Limited

SSC Holdings (UK) Limited (Registered number: 07360013)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SSC Holdings (UK) Limited

Company Information
for the Year Ended 28 February 2024







DIRECTORS: Anthony Lee
Darren Tye





REGISTERED OFFICE: 93 Tabernacle Street
London
England
EC2A 4BA





REGISTERED NUMBER: 07360013 (England and Wales)





ACCOUNTANTS: Ramon Lee Ltd
93 Tabernacle Street
London
EC2A 4BA

SSC Holdings (UK) Limited (Registered number: 07360013)

Balance Sheet
28 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 100 100

CREDITORS
Amounts falling due within one year 5 (22,320 ) (122,460 )
NET CURRENT LIABILITIES (22,320 ) (122,460 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(22,220

)

(122,360

)

CAPITAL AND RESERVES
Called up share capital 1,882 1,882
Retained earnings (24,102 ) (124,242 )
SHAREHOLDERS' FUNDS (22,220 ) (122,360 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:





Anthony Lee - Director


SSC Holdings (UK) Limited (Registered number: 07360013)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

SSC Holdings (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about SSC Holdings (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

GOING CONCERN
The company is the parent company of a group of companies. One of the subsidiaries, The Student Support Centre Limited, entered voluntary liquidation in September 2022 and another subsidiary, 3J Finance Limited, has Net Liabilities of £21,097,498 and is reliant on the support of its major Creditors to continue operating as a going concern. The directors of 3J Finance Limited have obtained assurance from the major Creditors that they would give 12 months' notice of any demand for repayment, notwithstanding that the amounts are contractually repayable on demand. The directors of SSC Holdings (UK) Ltd are therefore of the opinion that these financial statements should also be prepared on the going concern basis, placing reliance on the assurances given to 3J Finance Limited.

CASH AND CASH EQUIVALENTS
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

SSC Holdings (UK) Limited (Registered number: 07360013)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements ,when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

EQUITY INSTRUMENTS
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SSC Holdings (UK) Limited (Registered number: 07360013)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 March 2023
and 28 February 2024 100
NET BOOK VALUE
At 28 February 2024 100
At 28 February 2023 100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

3J Finance Limited
Registered Office: 93 Tabernacle Street, London, England, EC2A 4BA
Nature of Business: Finance company

Class of Shares: % Holding
Equity Shares 100%

2024
£   
Aggregate capital and reserves (21,097,498 )

Loss for the period (433,687 )



The Student Support Centre Limited
Registered Office: The Chapel Bridge Street Driffield YO25 6DA
Nature of Business: Retail sale of educational products

This company went into voluntary liquidation in September 2022 and the entire investment in the company was impaired as no amount was considered recoverable.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 20,310 120,450
Other creditors 2,010 2,010
22,320 122,460