S C Contractors Limited
Unaudited Financial Statements
For the year ended 30 September 2024
Pages for Filing with Registrar
Company Registration No. 07184490 (England and Wales)
S C Contractors Limited
Company Information
Director
M R Stephenson
Company number
07184490
Registered office
Betchworth House
57-65 Station Rd
Redhill
Surrey
RH1 1DL
Accountants
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
S C Contractors Limited
Balance Sheet
As at 30 September 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
3,812,679
4,993,375
Creditors: amounts falling due within one year
5
(3,661,752)
(4,896,296)
Net current assets
150,927
97,079
Provisions for liabilities
3,719
-
0
Net assets
154,646
97,079
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
154,645
97,078
Total equity
154,646
97,079

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 20 May 2025
M R Stephenson
Director
Company Registration No. 07184490
S C Contractors Limited
Notes to the Financial Statements
For the year ended 30 September 2024
Page 2
1
Accounting policies
Company information

S C Contractors Limited is a private company limited by shares incorporated in England and Wales. The registered office is Betchworth House, 57-65 Station Road, Redhill, Surrey, RH1 1DL. The principal activity of the company continued to be that of construction activities for the building trade.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company derives its income from related parties in the M R Stephenson Limited group and is party to a multilateral cross guarantee for a bank pooling facility with certain companies in the M R Stephenson Limited group as outlined in note 8. As such the company is wholly reliant on the M R Stephenson group to remain a going concern. The directors are aware that the M R Stephenson Limited group has a strong solvent balance sheet position and know of no reason why that would cease to be the case and as such the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as 'other' or financial instruments measured at fair value.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

S C Contractors Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
1
Accounting policies
(Continued)
Page 3
1.7
Employee benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Going concern

The company is reliant on related parties for its income. In making the going concern assessment, the directors have made the judgement that the related parties will continue to be profitable and continue to pay for the services of the company.

3
Employees

The average monthly number of persons employed by the company during the year was 8 (2023: 7).

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,795,077
4,993,375
Prepayments and accrued income
17,602
-
0
3,812,679
4,993,375
S C Contractors Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
Page 4
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
767,358
1,637,825
Trade creditors
657,542
603,274
Corporation tax
68,195
5,281
Other taxation and social security
309,941
318,912
Other creditors
1,631,557
2,059,267
Accruals and deferred income
227,159
271,737
3,661,752
4,896,296
6
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
17,748
9,774

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

 

Contributions totalling £6,366 (2023: £4,354) were payable to the fund at the balance sheet date and are included in creditors.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
8
Financial commitments, guarantees and contingent liabilities

The company has provided security under a multilateral cross guarantee for a bank pooling facility covering a number of connected companies. The facility allows there to be overdrawn bank accounts across the companies involved up to a total of £20,000,000, providing there are also positive bank balances across the companies that match or exceed the overdrawn accounts.

S C Contractors Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2024
Page 5
9
Related party transactions

During the year the company made sales to the following companies in which M R Stephenson has a material interest:

 

Stephenson Construction (North) Limited - £3,616,140 (2023: £5,115,910). Included within trade debtors at the year end was £1,071,972 (2023: £1,370,520).

 

Stephenson Construction (Southern) Limited - £9,568,873 (2023: £3,704,183). Included within trade debtors at the year end was £2,723,105 (2023: £3,622,855).

 

During the year the company was charged a management fee of £nil (2023: £150,000) by M R Stephenson Limited. Included in creditors at the year end was a balance due to M R Stephenson Limited of £1,631,557 (2023: £2,059,267).

 

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