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REGISTERED NUMBER: 14036354 (England and Wales)









SCIS HOLDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SCIS HOLDINGS LIMITED (REGISTERED NUMBER: 14036354)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SCIS HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: N M I Gillanders





SECRETARY: Mrs B C Davis





REGISTERED OFFICE: Unit 12a
The Io Centre
Stephenson Road
Fareham
Hants
PO15 5RU





REGISTERED NUMBER: 14036354 (England and Wales)





AUDITORS: Morris Crocker Limited
Chartered Accountants
Statutory Auditors
Station House
North Street
Havant
Hampshire
PO9 1QU

SCIS HOLDINGS LIMITED (REGISTERED NUMBER: 14036354)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 3,866,758 1

CURRENT ASSETS
Debtors 5 1,566,593 327,110
Cash at bank 14,721 90,625
1,581,314 417,735
CREDITORS
Amounts falling due within one year 6 5,834,895 417,742
NET CURRENT LIABILITIES (4,253,581 ) (7 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(386,823

)

(6

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (386,825 ) (8 )
SHAREHOLDERS' FUNDS (386,823 ) (6 )

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 director and authorised for issue on 21 November 2024 and were signed by:





N M I Gillanders - Director


SCIS HOLDINGS LIMITED (REGISTERED NUMBER: 14036354)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

SCIS Holdings 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.

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.

The company is exempt from the requirement to prepare group accounts due to being a wholly-owned subsidiary undertaking. The company's immediate parent, Mimi & Marble Holdings Limited prepares group accounts.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other 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

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

SCIS HOLDINGS LIMITED (REGISTERED NUMBER: 14036354)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Income from share in group undertakings
Income from shares in group undertakings is recognized in the financial statements when the Company's right to receive payment is established. This typically occurs when dividends are declared by the group undertaking. The income is measured at the fair value of the consideration received or receivable.

Expenses
Expenses are recognized in the financial statements on an accrual basis. This means that expenses are recorded when they are incurred, rather than when they are paid.

Bank loans and overdrafts
Loans are recognized initially at the transaction price, which is the fair value of the consideration given or received. After initial recognition, loans are measured at amortized cost using the effective interest method, less any impairment losses.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Investment
in
subsidiary
£   
COST
At 1 April 2023 1
Additions 3,866,757
At 31 March 2024 3,866,758
NET BOOK VALUE
At 31 March 2024 3,866,758
At 31 March 2023 1

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 578,695 165,343
Other debtors 987,898 161,767
1,566,593 327,110

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,834,895 -
Amounts owed to group undertakings - 393,395
Other creditors - 24,347
5,834,895 417,742

SCIS HOLDINGS LIMITED (REGISTERED NUMBER: 14036354)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Underwood (Senior Statutory Auditor)
for and on behalf of Morris Crocker Limited