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Company No: 11446319 (England and Wales)

SCP INVESTMENTS NO.1 LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

SCP INVESTMENTS NO.1 LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

SCP INVESTMENTS NO.1 LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
SCP INVESTMENTS NO.1 LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Current assets
Debtors 3 1,997,243 1,779,396
Cash at bank and in hand 2,176 20,084
1,999,419 1,799,480
Creditors: amounts falling due within one year 4 ( 2,001,195) ( 1,799,843)
Net current liabilities (1,776) (363)
Total assets less current liabilities (1,776) (363)
Net liabilities ( 1,776) ( 363)
Capital and reserves
Called-up share capital 5 57 57
Profit and loss account ( 1,833 ) ( 420 )
Total shareholders' deficit ( 1,776) ( 363)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of SCP Investments No.1 Limited (registered number: 11446319) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

C M Stephens
Director

27 August 2025

SCP INVESTMENTS NO.1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
SCP INVESTMENTS NO.1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

SCP Investments No.1 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 71-75 Shelton Street, London, WC2H 9JQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.

The Company made a loss of £1,413 during the year and had net current liabilities of £1,776. There are borrowings of £1,999,995 due to its parent companies and other shareholders. The Company is reliant on the ongoing support from its parent companies and shareholders, which the directors have confirmed. As a result, the directors are confident that the Company's access to working capital and future profit generation will be sufficient to support the business in the foreseeable future, and accordingly, consider it appropriate to prepare the financial statements on a going concern basis.

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 creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Debtors

2024 2023
£ £
Amounts owed by group undertakings 1,997,243 1,779,396

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to group undertakings 1,999,995 1,798,643
Accruals 1,200 1,200
2,001,195 1,799,843

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,200 Ordinary A shares of £ 0.01 each 12 12
1,200 Ordinary B shares of £ 0.01 each 12 12
1,200 Ordinary C shares of £ 0.01 each 12 12
1,200 Ordinary D shares of £ 0.01 each 12 12
857 Ordinary E shares of £ 0.01 each 9 9
57 57

6. Related party transactions

Other related party transactions

2024 2023
£ £
Included included in debtors is a balance owed by group companies. The balances are unsecured and interest is charged at 10% with no fixed repayment terms. 1,997,244 1,779,396
Included in creditors is a balance owed to the shareholders. The balances are unsecured and interest free with no fixed repayment terms. 1,999,995 1,798,643