REGISTERED NUMBER: 12854178 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

SECOND CITY (WESTLEY) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D G Davey

REGISTERED OFFICE:

6 Well Street

Birmingham

B19 3BG

REGISTERED NUMBER:

12854178 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,610,563

2,569,659

CURRENT ASSETS

Debtors

5

72,430

-

Cash at bank

3,174

3,460

75,604

3,460

CREDITORS

Amounts falling due within one year

6

2,662,322

2,491,235

NET CURRENT LIABILITIES

(2,586,718

)

(2,487,775

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,845

81,884

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

23,745

81,784

SHAREHOLDERS' FUNDS

23,845

81,884

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

D G Davey - Director

1.	STATUTORY INFORMATION

Second City (Westley) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 October 2023

2,569,659

Additions

40,904

At 30 September 2024

2,610,563

NET BOOK VALUE

At 30 September 2024

2,610,563

At 30 September 2023

2,569,659

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/24

30/9/23

£

£

Trade debtors

72,080

-

SCH Support

350

-

72,430

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/24

30/9/23

£

£

Bank loans and overdrafts (see note 7)

2,230,300

2,276,694

Trade creditors

66,926

-

Tax

40,527

26,540

Social security and other taxes

38,237

112,663

VAT

111,731

73,775

Other creditors

2,824

-

SCH Ltd

118,777

-

SCH UK Holding

53,000

-

Accrued expenses

-

1,563

2,662,322

2,491,235

7.

LOANS

An analysis of the maturity of loans is given below:

30/9/24

30/9/23

£

£

Amounts falling due within one year or on demand:

Bank loans

2,230,300

2,276,694

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/9/24

30/9/23

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 October 2023

81,784

Profit for the year

41,961

Dividends

(100,000

)

At 30 September 2024

23,745

10.	PARENTAL GUARANTEE

- For the year ending 30th September 2024 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

- the members have not required the company to obtain an audit of its accounts 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 accounts.