1.
General Information
State Credit & Investment Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
01416311
. The registered office is United House, North Road, Islington, London, N7 9DP.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
|
2.4.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
2.5.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.6.
Taxation
2.6.
Taxation - continued
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
State Credit & Investment Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2025: 2)
4.
Tangible Assets
| Fixtures & Fittings | |
|---|---|
| £ | |
| Cost | |
| As at 1 April 2025 |
|
| Additions |
|
| Disposals |
( |
| As at 31 March 2026 |
|
| Depreciation | |
| As at 1 April 2025 |
|
| Provided during the period |
|
| Disposals |
( |
| As at 31 March 2026 |
|
| Net Book Value | |
| As at 31 March 2026 |
|
| As at 1 April 2025 |
|
5.
Investments
| Associates | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 April 2025 |
|
| Revaluations |
|
| As at 31 March 2026 |
|
| Provision | |
| As at 1 April 2025 |
|
| As at 31 March 2026 |
|
...CONTINUED
State Credit & Investment Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
| Net Book Value | |
| As at 31 March 2026 |
|
| As at 1 April 2025 |
|
Subsidiaries
Details of the company's subsidiaries as at 31 March 2026 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
71, Athelstan Park, Bodmin, United Kingdom, PL31 1DT |
|
|
- |
The aggregate capital and reserves and the result for the year of the subsidiaries listed above was as follows:
| Capital and Reserves | Profit/(loss) | |
|---|---|---|
| £ | £ | |
| Tredethy Mews Limited |
|
|
Associates
Details of the company's associates as at 31 March 2026 are as follows:
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
United House, North Road, Islington, London, N7 9DP |
|
|
28.00% |
6.
Debtors
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Other debtors | 7,945 | 22,320 | |
|
|
|
||
| Due after more than one year | |||
| Other debtors | 309,495 | - | |
|
|
|
||
7.
Creditors: Amounts Falling Due Within One Year
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Other creditors | 35,387 | 28,425 | |
| Taxation and social security | - |
|
|
|
|
|
||
State Credit & Investment Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
8.
Deferred Taxation
The provision for deferred tax is made up as follows:
|
2026
|
2025
|
||
|
£
|
£
|
||
|
Deferred tax asset arising on tax losses available
|
309,495
|
-
|
|
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||
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309,495
![1](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none"> <line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/> <line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/> </svg>){kind=small}
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-
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10.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| 2026 | 2025 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than one year |
|
|
|
|
|
|
||
An element of the annual liability is recharged to associated and entities under common control. Therefore, whilst the premises lease is in the name of State Credit & Investment Limited, the company will no suffer the full liability on an annual basis.
State Credit & Investment Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2026
11.
Related Party Disclosures
Entities with control, joint control or significant influence over the entity
None noted in year.
Entities over which the entity has control, joint control or significant influence
As at 31 March 2026 the company owed such entities £3,582,377 (2025: £4,154,565). During the year interest was paid to such entities totalling £319,435 (2025: £315,644).
Key management personnel of the entity or its parent (in the aggregate)
As at 31 March 2026 the company owed such entities £98,274 (2025: £92,958). During the year interest was paid to such entities totalling £5,316 (2025: £10,528).
Entities that provide key management personnel services to the entity
None noted in year.
Other related parties
None noted in year.
12.
Audit Information
The auditor's report on the accounts of
State Credit & Investment Limited
for the year ended 31 March 2026 was unqualified.
The auditor's report was signed by
Mr Andrew Hill FCCA ACA DChA BFP
(Senior Statutory Auditor)
for and on behalf of
HSJ Audit Limited
, Statutory Auditor.
|
Severn House
Hazell Drive
Newport
NP10 8FY
|