Registered number
02074469
SCP Limited
Unaudited Filleted Accounts
31 December 2024
SCP Limited Registered number: 02074469
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,577,319 2,561,329
Investments 4 247,685 75
2,825,004 2,561,404
Current assets
Stocks 884,436 917,060
Debtors 5 535,757 297,470
Cash at bank and in hand 1,018,790 990,520
2,438,983 2,205,050
Creditors: amounts falling due within one year 6 (701,422) (654,680)
Net current assets 1,737,561 1,550,370
Total assets less current liabilities 4,562,565 4,111,774
Provisions for liabilities - Deferred tax (451,845) (444,168)
Net assets 4,110,720 3,667,606
Capital and reserves
Called up share capital 6,250 6,250
Capital redemption reserve 3,750 3,750
Non-distributable reserve 7 1,821,116 1,821,116
Profit and loss account 2,279,604 1,836,490
Shareholder's funds 4,110,720 3,667,606
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S. Coakley
Director
Approved by the board on 13 August 2025
SCP Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the amount (excluding value added tax) derived from the provision of goods and services to customers during the year.
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Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, fixtures, fittings, and equipment over 4 years
Investment property
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Group accounts
The company is entitled to the exemption from the obligation to prepare group accounts.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons emloyed by the company 18 19
3 Tangible fixed assets
Leasehold investment property Vehicle, fixtures & equipment Total
£ £ £
Cost
At 1 January 2024 2,500,000 121,153 2,621,153
Additions - 43,110 43,110
At 31 December 2024 2,500,000 164,263 2,664,263
Depreciation
At 1 January 2024 - 59,824 59,824
Charge for the year - 27,120 27,120
At 31 December 2024 - 86,944 86,944
Net book value
At 31 December 2024 2,500,000 77,319 2,577,319
At 31 December 2023 2,500,000 61,329 2,561,329
The leasehold investment property was valued on an open market basis by the director. The director is in opinion that the value of the leasehold investment property is not materially misstated at the balance sheet date.
4 Investments
Investments in subsidiary undertakings
2024 2023
£ £
Cost
At 1 January 2024 75 75
Additions 247,610 -
At 31 December 2024 247,685 75
5 Debtors 2024 2023
£ £
Trade debtors 221,955 212,456
Amounts owed by group undertakings 238,706 26,087
Other debtors 75,096 58,927
535,757 297,470
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 489,755 461,547
Taxation and social security costs 102,807 88,380
Other creditors 108,860 104,753
701,422 654,680
7 Non-distributable reserve 2024 2023
£ £
At 1 January 2024 1,821,116 1,821,116
At 31 December 2024 1,821,116 1,821,116
8 Contingent liabilities
At 31 Decmber 2024 there was a contingent liability in respect of a cross quarantee given by the company to the bank in favour of its wholly owned subsidiary company, SCP Contracts Limited.
9 Related party transactions
The company is under the control of Mr S. Coakley by virtue of his 100% controlling shareholding in the company.
SCP Contracts Limited is a wholly owned subsidiary company of SCP Limited.
During the year the company supplied goods and services in the ordinary course of business totalling £447,768 to SCP Contracts Limited. At 31 December 2024, the amount owed from SCP Contracts Limited was £238,706.
10 Other information
SCP Limited is a private company limited by shares and incorporated in England. Its registered office is:
135 - 139 Curtain Road
London
EC2A 3BX
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