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Registered number: 15103465










NEXT GENERATION SCM SAUDI ARABIA LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2024

 
NEXT GENERATION SCM SAUDI ARABIA LIMITED
REGISTERED NUMBER: 15103465

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
Note
£

Fixed assets
  

Intangible assets
 4 
1

  
1

Current assets
  

Debtors: amounts falling due within one year
 5 
1

  
1

Creditors: amounts falling due within one year
 6 
(1)

Net current assets
  
 
 
-

  

Net assets
  
1


Capital and reserves
  

Called up share capital 
  
1

  
1


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C Husum
Director

Date: 21 February 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
NEXT GENERATION SCM SAUDI ARABIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

1.


General information

The Company is a private company limited by shares and incorporated in England and Wales. Its registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ. The financial statements cover the period from incorporation on 29 August 2023 to 31 August 2024. There have been no trading activities during the period and therefore no separate profit and loss account has been presented.
The functional and presentation currency of the Company is British Pounds and the financial statements are rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The shareholder has agreed to support the Company for a period of at least 12 months from the date of approval of these financial statements.
As such, the directors consider it appropriate for the financial statements to be prepared on a going concern basis. 

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. License rights are amortised over the license period which is currently 5 years.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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.

 
2.5

Creditors

Short-term 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.

Page 2

 
NEXT GENERATION SCM SAUDI ARABIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

3.


Employees




The average monthly number of employees, including Directors, during the period was 2.


4.


Intangible assets



Licence rights

£



Cost


Additions
1



At 31 August 2024

1






Net book value



At 31 August 2024
1




5.


Debtors

2024
£


Trade debtors
1

1



6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
1

1


Page 3

 
NEXT GENERATION SCM SAUDI ARABIA LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024

7.


Related party transactions

During the period, audit, accounting and tax fees amounting to £5,850 were payable in respect of the Company by C Husum, a Director. 
In addition, Next Generation SCM Limited (a company commonly controlled by C Husum) transferred a licence to the Company for a value of £1.


8.


Post balance sheet events

On 7 October 2024, the Company entered into a joint venture agreement to establish rights and obligations in connection with the formation and operation of a company to be incorporated in the Kingdom of Saudi Arabia for the purpose of fulfilling a project of the joint venturers. As at the date of authorising these financial statements for issue the company has not yet been incorporated. 


9.


Controlling party

The controlling party of the Company is C Husum, a Director throughout the period.


10.


Auditor's information

The auditor's report on the financial statements for the period ended 31 August 2024 was unqualified.

The audit report was signed on 21 February 2025 by Ryan Swann BA FCA (Senior Statutory Auditor) on behalf of MHA.

Page 4