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COMPANY REGISTRATION NUMBER: 11364109
SC Hospitality Group Ltd
Filleted Unaudited Financial Statements
31 March 2025
SC Hospitality Group Ltd
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
5
676,752
703,631
Current assets
Stocks
15,320
10,751
Debtors
6
7,239
5,052
Cash at bank and in hand
1,420
5,482
--------
--------
23,979
21,285
Creditors: amounts falling due within one year
7
469,276
490,071
---------
---------
Net current liabilities
445,297
468,786
---------
---------
Total assets less current liabilities
231,455
234,845
Creditors: amounts falling due after more than one year
8
368,500
397,077
---------
---------
Net liabilities
( 137,045)
( 162,232)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 137,145)
( 162,332)
---------
---------
Shareholders deficit
( 137,045)
( 162,232)
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2025 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 Hospitality Group Ltd
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 11 July 2025 , and are signed on behalf of the board by:
Mr S G Sherwood
Mr C T Manumbali
Director
Director
Company registration number: 11364109
SC Hospitality Group Ltd
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Gabb and Co, 32 Monk Street, Abergavenny, Monmouthshire, NP7 5NW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. 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.
Going concern
Despite the deficit position within the statement of financial position, the directors are confident that the company has adequate resources to continue in operational existence for the foreseeable future.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
The following assets and liabilities are classified as financial instruments - bank, trade debtors, trade creditors, bank loans and directors' loans to the company. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Bank overdrafts are shown within creditors due within one year. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings. Loans received from a bank at the market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transition costs. Directors' loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2024: 12 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 April 2024
675,064
14,331
202,530
891,925
Additions
1,704
1,704
---------
--------
---------
---------
At 31 March 2025
675,064
14,331
204,234
893,629
---------
--------
---------
---------
Depreciation
At 1 April 2024
68,036
7,607
112,651
188,294
Charge for the year
13,501
1,345
13,737
28,583
---------
--------
---------
---------
At 31 March 2025
81,537
8,952
126,388
216,877
---------
--------
---------
---------
Carrying amount
At 31 March 2025
593,527
5,379
77,846
676,752
---------
--------
---------
---------
At 31 March 2024
607,028
6,724
89,879
703,631
---------
--------
---------
---------
6. Debtors
2025
2024
£
£
Other debtors
7,239
5,052
-------
-------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
46,464
41,968
Trade creditors
5,184
8,159
Social security and other taxes
11,176
19,546
Other creditors
406,452
420,398
---------
---------
469,276
490,071
---------
---------
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
368,500
397,077
---------
---------
Included within creditors: amounts falling due after more than one year is an amount of £309,812 (2024: £321,410) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loan has 180 months remaining of which the fixed term loan is over 24 months. The fixed interest rate applied is 3.67% p.a. over the banks base rate.
9. Security
The bank hold a standard security over the property of Ramnee Hotel, Forres, along with a bond and floating charge.
10. Related party transactions
Included within creditors due within one year is £376,198 (2024 - £400,379) creditors due greater than one year) due to the directors. There are no set repayment terms and no interest is being charged.