REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
SCOPE INTERNATIONAL (UK) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
SCOPE INTERNATIONAL (UK) LIMITED |
SCOPE INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: 08504875) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
SCOPE INTERNATIONAL (UK) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Grafton House |
81 Chorley Old Road |
Bolton |
Lancashire |
BL1 3AJ |
BANKERS: |
154-158 Kensington High Street |
London |
W8 7RL |
SCOPE INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: 08504875) |
BALANCE SHEET |
31 DECEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
SCOPE INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: 08504875) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Scope International (UK) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
TANGIBLE FIXED ASSETS |
Short leasehold | - |
Fixtures and fittings | - |
Office equipment | - |
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. |
SCOPE INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: 08504875) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
3. | ACCOUNTING POLICIES - continued |
FOREIGN CURRENCIES |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
GOING CONCERN |
At the balance sheet date the company had net liabilities of £501,620 (2023 - £489,205). The company has full financial support from its ultimate parent company, Scope International AG, the directors of which have confirmed that this support will continue indefinitely. The directors therefore consider it appropriate to prepare the financial statements on the going concern basis. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | AUDITORS' REMUNERATION |
2024 | 2023 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
5,250 |
4,900 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Office |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2024 |
and 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
SCOPE INTERNATIONAL (UK) LIMITED (REGISTERED NUMBER: 08504875) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Tax |
VAT |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
9. | RELATED PARTY DISCLOSURES |
During the year the company sold services to its ultimate parent company Scope International AG amounting to £438,027 (2023 - £322,635). At the balance sheet date £nil (2023 £1,395) was owed by Scope International AG and is included within debtors due within one year. |
The parent company has made payments on account of sales invoices not yet raised amounting to £514,975 (2023 - £514,975). At the balance sheet date the advance payments are included as deferred income within creditors due within one year. |
The company has also purchased services from its ultimate parent company amounting to £3,103 (2023 - £2,717). At the balance sheet date the company owed its parent company £22,576 (2023 - £22,191) which is included within creditors due within one year. |
During the previous year the company recharged a proportion of the parent company service charges to Scope International USA, Inc. |
10. | POST BALANCE SHEET EVENTS |
On 1 January 2025 £500,000 of the advanced monies from the parent company referred to in note 11 to the accounts were converted to a long term loan. |
Interest will be charged at 3% per annum from 1 January 2025 the first payment being due on 31 January 2026. |
The loan will be a twelve year term ending on 31 December 2036. Annual repayments of £55,555 will commence after a three year grace period on 31 January 2028. |
11. | ULTIMATE CONTROLLING PARTY |
The company is controlled by its parent company Scope International AG, a company incorporated in Germany which is not under the control of any one individual. |