Company registration number SC467222 (Scotland)
Sanccus Limited
Unaudited financial statements
for the year ended 31 January 2025
Pages for filing with registrar
Sanccus Limited
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of Sanccus Limited
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sanccus Limited for the year ended 31 January 2025 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 ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the board of directors of Sanccus Limited, as a body, in accordance with the terms of our engagement letter dated 12 March 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Sanccus Limited and state those matters that we have agreed to state to the board of directors of Sanccus Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sanccus Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Sanccus 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 profit of Sanccus Limited. You consider that Sanccus 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 Sanccus 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.
James Milne
Chartered Accountants
5 High Street
Inverurie
AB51 3QA
24 June 2025
Sanccus Limited
Statement of financial position
as at 31 January 2025
2
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
598,736
593,999
Current assets
Stocks
66,346
72,959
Debtors
319,967
296,539
Cash at bank and in hand
626,094
652,314
1,012,407
1,021,812
Creditors: amounts falling due within one year
(505,617)
(652,663)
Net current assets
506,790
369,149
Total assets less current liabilities
1,105,526
963,148
Creditors: amounts falling due after more than one year
(862,256)
(862,836)
Net assets
243,270
100,312
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
243,070
100,112
Total equity
243,270
100,312
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 January 2025 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.
Sanccus Limited
Statement of financial position (continued)
as at 31 January 2025
3
The financial statements were approved and signed by the director and authorised for issue on 20 June 2025
Martin Ridge
Director
Company registration number SC467222 (Scotland)
Sanccus Limited
Notes to the financial statements
for the year ended 31 January 2025
4
1
Accounting policies
Company information
Sanccus Limited is a private company limited by shares incorporated in Scotland. The registered office is Units 3 & 4, Colpy Way, Colpy Road Industrial Estate, Oldmeldrum, Aberdeenshire, AB51 0BZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 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 financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation is provided on freehold property
Plant and equipment
20% straight line
Fixtures and fittings
20% straight line and 33.3% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Sanccus Limited
Notes to the financial statements (continued)
for the year ended 31 January 2025
1
Accounting policies (continued)
5
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Sanccus Limited
Notes to the financial statements (continued)
for the year ended 31 January 2025
6
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
7
6
3
Tangible fixed assets
Total
£
Cost
At 1 February 2024
854,037
Additions
12,036
At 31 January 2025
866,073
Depreciation and impairment
At 1 February 2024
260,038
Depreciation charged in the year
7,299
At 31 January 2025
267,337
Carrying amount
At 31 January 2025
598,736
At 31 January 2024
593,999
4
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
6,163
7,883
Sanccus Limited
Notes to the financial statements (continued)
for the year ended 31 January 2025
7
5
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
At the year end Sanccus Limited owed Hexacus Limited £862,256 (2024 - £862,836).
At the year end Sanccus Limited owes Mr Al Dhaheri, a director of the controlling company, £Nil (2024- £84,556).
6
Parent company
Hexacus Limited controls the company by virtue of its holding of 100% of the issued ordinary share capital.
7
Directors' transactions
During the year the director entered into the following advances and credits with the company:
Description
Opening debit balance
Amounts advanced
Closing debit balance
£
£
£
Martin Ridge - Director's loan
1,805
106
1,911
1,805
106
1,911