Registered number
03347060
SCS Concepts Limited
Filleted Accounts
31 March 2024
SCS Concepts Limited
Registered number: 03347060
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 760 56,200
Current assets
Debtors 4 164,283 178,231
Cash at bank and in hand 782,787 784,529
947,070 962,760
Creditors: amounts falling due within one year 5 (233,933) (343,049)
Net current assets 713,137 619,711
Total assets less current liabilities 713,897 675,911
Creditors: amounts falling due after more than one year 6 (12,115) (22,500)
Provisions for liabilities (190) (8,142)
Net assets 701,592 645,269
Capital and reserves
Called up share capital 10 10
Profit and loss account 701,582 645,259
Shareholders' funds 701,592 645,269
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R C Saunders
Director
Approved by the board on 25 February 2025
SCS Concepts Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment over 3 years
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 1,963 132,889 134,852
Additions - 71,527 71,527
Disposals - (204,416) (204,416)
At 31 March 2024 1,963 - 1,963
Depreciation
At 1 April 2023 549 78,103 78,652
Charge for the year 654 23,480 24,134
On disposals - (101,583) (101,583)
At 31 March 2024 1,203 - 1,203
Net book value
At 31 March 2024 760 - 760
At 31 March 2023 1,414 54,786 56,200
4 Debtors 2024 2023
£ £
Trade debtors 83,513 148,583
Other debtors 80,770 29,648
164,283 178,231
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 62,225 118,766
Taxation and social security costs 21,370 28,389
Other creditors 150,338 195,894
233,933 343,049
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 12,115 22,500
7 Other information
SCS Concepts Limited is a private company limited by shares and incorporated in England. Its registered office is:
4 Studley Court
Guildford Road
Chobham
Surrey
GU24 8EB
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