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COMPANY REGISTRATION NUMBER: 07308097
SC Corporate Holdings Limited
Filleted Unaudited Financial Statements
30 September 2024
SC Corporate Holdings Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Officers and professional advisers
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
SC Corporate Holdings Limited
Officers and Professional Advisers
The board of directors Mr D Mullinder
- Director
Mr S Cornes
- Director
Company secretary
Mr D Mulliner
Registered office
Fernhill Road
Sutton
Newport
Shropshire
TF10 8DJ
Accountants
Riverside Accountancy Lancaster Limited
Chartered accountants
Suite 2, 2 Mannin Way
Lancaster Business Park
Caton Road
Lancaster
LA1 3SU
SC Corporate Holdings Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of SC Corporate Holdings Limited
Year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SC Corporate Holdings Limited for the year ended 30 September 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of SC Corporate Holdings Limited, as a body, in accordance with the terms of our engagement letter dated 9 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of SC Corporate Holdings Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SC Corporate Holdings Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that SC Corporate Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of SC Corporate Holdings Limited. You consider that SC Corporate Holdings Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of SC Corporate Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Riverside Accountancy Lancaster Limited Chartered accountants
Suite 2, 2 Mannin Way Lancaster Business Park Caton Road Lancaster LA1 3SU
25 June 2025
SC Corporate Holdings Limited
Statement of Financial Position
30 September 2024
2024
2023
(restated)
Note
£
£
Fixed assets
Investments
3
625,337
607,895
Current assets
Debtors
4
2,808,115
80,593
Cash at bank and in hand
649,212
403,831
------------
---------
3,457,327
484,424
Creditors: amounts falling due within one year
5
714,226
709,069
------------
---------
Net current assets/(liabilities)
2,743,101
( 224,645)
------------
---------
Total assets less current liabilities
3,368,438
383,250
------------
---------
Net assets
3,368,438
383,250
------------
---------
Capital and reserves
Called up share capital
7
3,390,100
390,100
Share premium account
10,000
Profit and loss account
( 31,662)
( 6,850)
------------
---------
Shareholders funds
3,368,438
383,250
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SC Corporate Holdings Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:
Mr D Mullinder
Director
Company registration number: 07308097
SC Corporate Holdings Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fernhill Road, Sutton, Newport, Shropshire, TF10 8DJ.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements has been rounded to the nearest £1.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the reporting period. Tax is recognised in the statement of comprehensive income,except to the extend that it relates to the items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
3. Investments
Other investments other than loans
£
Cost
At 1 October 2023 as restated
607,895
Additions
17,442
---------
At 30 September 2024
625,337
---------
Impairment
At 1 October 2023 as restated and 30 September 2024
---------
Carrying amount
At 30 September 2024
625,337
---------
At 30 September 2023
607,895
---------
4. Debtors
2024
2023
(restated)
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,806,939
80,000
Other debtors
1,176
593
------------
--------
2,808,115
80,593
------------
--------
5. Creditors: amounts falling due within one year
2024
2023
(restated)
£
£
Trade creditors
6,901
5,979
Amounts owed to group undertakings and undertakings in which the company has a participating interest
506,516
500,642
Other creditors
200,809
202,448
---------
---------
714,226
709,069
---------
---------
6. Prior period errors
In 2023 390,000 preference shares of £1 were issued in a share for share exchange transaction. This was omitted from the financial statements and therefore corrected in 2024, along with a prior year adjustment.
7. Called up share capital
Issued, called up and fully paid
2024
2023
(restated)
No.
£
No.
£
Ordinary shares of £– (2023 - £1) each
100
100
Ordinary A shares shares of £ 1 each
25
25
Ordinary B Shares shares of £ 1 each
25
25
Ordinary C Shares shares of £ 1 each
25
25
Ordinary D Shares shares of £ 1 each
25
25
Preference shares of £1 each
3,390,000
3,390,000
390,000
390,000
------------
------------
---------
---------
3,390,100
3,390,100
390,100
390,100
------------
------------
---------
---------
8. Related party transactions
At the year end the company was owed £2,806,939 (2023 - £80,000) from connected companies. At the year end the company owed £506,516 (2023 - £500,642) to connected companies.
9. Controlling party
The company is under the control of Sam Cornes Family Trust Number 1.