REGISTERED NUMBER: 10778897 (England and Wales)

SCO3 Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr C C Alkaya

Ms S Tumay

SECRETARY:

REGISTERED OFFICE:

239-241 Kennington Lane

London

SE11 5QU

REGISTERED NUMBER:

10778897 (England and Wales)

ACCOUNTANTS:

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SCO3 Ltd for the year ended 31 December 2024 which comprise the Statement of Income and Retained Earnings, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of SCO3 Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of SCO3 Ltd and state those matters that we have agreed to state to the Board of Directors of SCO3 Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SCO3 Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that SCO3 Ltd 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 loss of SCO3 Ltd. You consider that SCO3 Ltd 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 SCO3 Ltd. 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.

Alton & Co

Chartered Accountants

239-241 Kennington Lane

London

SE11 5QU

31 December 2025

FIXED ASSETS

Property, plant and equipment

4

1,648

2,198

Investments

5

196,893

196,893

198,541

199,091

CURRENT ASSETS

Debtors

6

24,372

77,056

Cash at bank and in hand

3,218

121,278

27,590

198,334

CREDITORS

Amounts falling due within one year

7

83,809

146,168

NET CURRENT (LIABILITIES)/ASSETS

(56,219

)

52,166

TOTAL ASSETS LESS CURRENT LIABILITIES

142,322

251,257

CREDITORS

Amounts falling due after more than one year

8

(25,842

)

(31,269

)

PROVISIONS FOR LIABILITIES

9

(313

)

(418

)

NET ASSETS

116,167

219,570

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

116,067

219,470

SHAREHOLDERS' FUNDS

116,167

219,570

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2025 and were signed on its behalf by:

Mr C C Alkaya - Director

Ms S Tumay - Director

1.	STATUTORY INFORMATION

SCO3 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about SCO3 Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

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

Turnover is derived from the ordinary trading activities of the business and is recognised when the customers obtain the right to consideration.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

1,834

3,648

5,482

DEPRECIATION

At 1 January 2024

916

2,368

3,284

Charge for year

230

320

550

At 31 December 2024

1,146

2,688

3,834

NET BOOK VALUE

At 31 December 2024

688

960

1,648

At 31 December 2023

918

1,280

2,198

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

196,893

NET BOOK VALUE

At 31 December 2024

196,893

At 31 December 2023

196,893

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Management Appointments Ltd

Registered office: United Kingdom

Nature of business: Recruitment services

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

5,783

9,410

Amounts owed by group undertakings

18,512

-

Social security and other taxes

77

195

VAT

-

20,669

Prepayments and accrued income

-

46,782

24,372

77,056

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

5,588

5,510

Trade creditors

47,370

73,434

Amounts owed to group undertakings

-

14,804

Tax

-

42,728

VAT

17,453

-

Net wages control account

-

4,000

Pensions control account

549

-

Directors' current accounts

10,979

3,922

Accrued expenses

1,870

1,770

83,809

146,168

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,588

5,510

Bank loans - 2-5 years

16,765

16,531

Bank loans more 5 yr by instal

3,489

9,228

25,842

31,269

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,489

9,228

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

313

418

Deferred

tax

£

Balance at 1 January 2024

418

Provided during year

(105

)

Balance at 31 December 2024

313

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Retained

earnings

£

At 1 January 2024

219,470

Deficit for the year

(43,403

)

Dividends

(60,000

)

At 31 December 2024

116,067

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £60,000 were paid to the directors .

There were amounts due to key management personnel at balance sheet date of £10,979 (2023: £3,922).