Company No:
Contents
DIRECTOR | Firoz Peermohamed Surti |
REGISTERED OFFICE | Treviot House |
186-192 High Road | |
Ilford | |
IG1 1LR | |
United Kingdom |
COMPANY NUMBER | 14143158 (England and Wales) |
ACCOUNTANT | Gravita Essex Limited |
Treviot House | |
186-192 High Road | |
Ilford | |
Essex | |
IG1 1LR | |
United Kingdom |
Note | 31.05.2024 | 31.05.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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3,655 | 5,565 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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1,087,698 | 1,709,758 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (41,053) | (1,225) | ||
Total assets less current liabilities | (37,398) | 4,340 | ||
Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholders' (deficit)/funds | (
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Scicom UK (2022) Ltd (registered number:
Firoz Peermohamed Surti
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Scicom UK (2022) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Treviot House, 186-192 High Road, Ilford, IG1 1LR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The balance sheet at the year end recorded net liabilities. The director is currently considering various strategic options available to the company and intends to cease trade if the trading conditions does not improve in the year ending 31st May 2025.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Plant and machinery etc. |
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Year ended 31.05.2024 |
Period from 31.05.2022 to 31.05.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 June 2023 |
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Additions |
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At 31 May 2024 |
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Accumulated depreciation | |||
At 01 June 2023 |
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Charge for the financial year |
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At 31 May 2024 |
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Net book value | |||
At 31 May 2024 |
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At 31 May 2023 |
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31.05.2024 | 31.05.2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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Corporation tax |
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Other debtors |
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31.05.2024 | 31.05.2023 | ||
£ | £ | ||
Trade creditors |
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Taxation and social security |
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Other creditors |
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The following secured debts are included within creditors:
31.05.2024 | 31.05.2023 | ||
£ | £ | ||
Loan | 384,024 | 921,577 |
The director has provided personal guarantee for the sum of $650,000 in respect of the business loan.
The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:
31.05.2024 | 31.05.2023 | ||
£ | £ | ||
Director 1 - Amount advanced | 322,427 | 114,128 | |
Director 1 - Amount repaid | (272,018) | (88,569) |
Interest was charged on all loans at the official HMRC rate of interest.
As at year end, the director's current account shows a debit balance of £75,968 (2023 : £25.559).