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Registered number: 11994227
S C James Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Michael Paul Accountants Limited
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of S C James Ltd for the year ended 31 May 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of S C James Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of S C James Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of S C James Ltd and state those matters that we have agreed to state to the director of S C James Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S C James Ltd and its director as a body for our work or for this report.
It is your duty to ensure that S C James 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 or loss of S C James Ltd . You consider that S C James 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 S C James 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 financial statements.
Signed
10/02/2025
Michael Paul Accountants Limited
A member of the Association of Chartered Certified Accountants
Studio 2, Lamport Manor
Old Road, Lamport
Northampton
Northamptonshire
NN6 9HF
Page 1
Page 2
Balance Sheet
Registered number: 11994227
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,525 11,598
7,525 11,598
CURRENT ASSETS
Stocks 5 2,000 2,000
Debtors 6 10,523 6,248
Cash at bank and in hand 21,033 26,164
33,556 34,412
Creditors: Amounts Falling Due Within One Year 7 (11,934 ) (23,549 )
NET CURRENT ASSETS (LIABILITIES) 21,622 10,863
TOTAL ASSETS LESS CURRENT LIABILITIES 29,147 22,461
Creditors: Amounts Falling Due After More Than One Year 8 (8,777 ) (13,944 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,430 ) (2,204 )
NET ASSETS 18,940 6,313
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 18,930 6,303
SHAREHOLDERS' FUNDS 18,940 6,313
Page 2
Page 3
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon James
Director
10/02/2025
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
S C James Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11994227 . The registered office is 1 Welford Road, Creaton, Northampton, Northamptonshire, NN6 8NH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 25% on cost
Computer Equipment 33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 4
Page 5
2.6. 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 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 June 2023 17,149
As at 31 May 2024 17,149
Depreciation
As at 1 June 2023 5,551
Provided during the period 4,073
As at 31 May 2024 9,624
Net Book Value
As at 31 May 2024 7,525
As at 1 June 2023 11,598
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 7,525 11,287
Page 5
Page 6
5. Stocks
2024 2023
£ £
Stock 2,000 2,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,716 4,866
Other debtors 1,807 1,382
10,523 6,248
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,122 3,122
Trade creditors 500 -
Bank loans and overdrafts 2,045 1,994
Other creditors 1,660 18,433
Taxation and social security 4,607 -
11,934 23,549
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,503 9,625
Bank loans 2,274 4,319
8,777 13,944
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,122 3,122
Later than one year and not later than five years 6,503 9,625
9,625 12,747
9,625 12,747
Page 6
Page 7
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 7