Company registration number 01873847 (England and Wales)
C-SCOPE INTERNATIONAL HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
C-SCOPE INTERNATIONAL HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
C-SCOPE INTERNATIONAL HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
807,249
824,583
Investments
4
3,271,181
3,271,181
4,078,430
4,095,764
Current assets
Debtors
5
499,579
Cash at bank and in hand
12,698
512,277
Creditors: amounts falling due within one year
6
(4,035,678)
(3,516,229)
Net current liabilities
(3,523,401)
(3,516,229)
Total assets less current liabilities
555,029
579,535
Creditors: amounts falling due after more than one year
7
(396,442)
(432,263)
Net assets
158,587
147,272
Capital and reserves
Called up share capital
500,000
500,000
Profit and loss reserves
(341,413)
(352,728)
Total equity
158,587
147,272
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
C-SCOPE INTERNATIONAL HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 20 November 2024 and are signed on its behalf by:
Mr M J Fry
Mr G J Morris
Director
Director
Company registration number 01873847 (England and Wales)
C-SCOPE INTERNATIONAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
C-Scope International Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office and business address is Kingsnorth Technology Park, Wotton Road, Ashford, Kent, TN23 6LN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT. Income from management charges is recognised in the period to which it relates.
1.3
Tangible fixed assets
Tangible fixed assets except freehold land are measured at cost and subsequently measured at cost or valuation, net of depreciation.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings freehold
2% straight line basis
1.4
Fixed asset investments
Interests in subsidiaries are measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.5
Financial instruments
The company has elected to apply the recognition and measurement 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.
Basic financial assets
Basic financial assets, which include cash and bank balances, are measured at transaction price including transaction costs.
C-SCOPE INTERNATIONAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are recognised at transaction price.
1.6
Taxation
The tax expense represents the sum of the tax currently payable or receivable and deferred tax.
Current tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
17
17
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 and 31 March 2024
966,699
Depreciation and impairment
At 1 April 2023
142,116
Depreciation charged in the year
17,334
At 31 March 2024
159,450
Carrying amount
At 31 March 2024
807,249
At 31 March 2023
824,583
C-SCOPE INTERNATIONAL HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
3,271,181
3,271,181
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
499,579
Amounts owed by group undertakings are non interest bearing and have no fixed terms for repayment.
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
40,000
211,573
Amounts owed to group undertakings
3,731,289
3,089,828
Taxation and social security
58,247
20,912
Other creditors
206,142
193,916
4,035,678
3,516,229
Amounts owed to group undertakings are non interest bearing and have no fixed terms for repayment.
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
396,442
432,263
Bank loans and overdrafts amounting to £436,442 (2023 - £643,836) are secured by way of fixed and floating charges over the assets of the company.
8
Financial commitments, guarantees and contingent liabilities
The bank borrowings of the group are guaranteed by a composite group guarantee. At 31 March 2024, the total indebtedness of the group to the bank amounted to £256,259 (2023 - £414,840) which is secured by a mortgage debenture, the terms of which include a fixed and floating charge over the company's assets.