Year Ended
Registration number:
SCC (Holdings) Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Consolidated Profit and Loss Account |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Consolidated Statement of Cash Flows |
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Notes to the Financial Statements |
SCC (Holdings) Limited
Company Information
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Director |
Mr N D Burke |
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Registered office |
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Auditors |
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SCC (Holdings) Limited
Strategic Report
Year Ended 31 December 2025
The director presents his strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the group is the sale, servicing and repair of vehicles and the sale of spares and accessories. The principal activity of the company is that of a holding company.
Fair review of the business
The Director considers turnover and gross margin as key performance indicators.
The directors are pleased to report that, despite a reduction in turnover from £44.0m to £40.3m, the group delivered a significantly improved financial performance. Profit before tax moved from a loss of £525k in 2024 to a profit of £125k in 2025, reflecting a shift in market demand from new vehicles to used vehicles, which generate higher margins. The cash position has increased from £0.7m to £0.85m due to the company's cost savings and profit making position in the year.
Principal risks and uncertainties
The main risks and uncertainties facing the group come from the economic climate and general competition.
The main financial risk facing the business conitnues to be linked to working capital, and the impact of economic conditions on the motor industry. The group manages these risks through controlling the level of stock and cash and by closely working with key suppliers.
Approved by the
.........................................
Director
SCC (Holdings) Limited
Director's Report
Year Ended 31 December 2025
The director presents his report and the consolidated financial statements for the year ended 31 December 2025.
Director of the group
The director who held office during the year was as follows:
Financial Instruments
The group’s principal financial instruments comprise bank balances, liquid investments, trade debtors, trade creditors, and loans to the group.
Principal financial risks
The group's activities expose it to a number of financial risks. The group's approach to dealing with these risks are detailed in the strategic report, which can be found on page 2.
Disclosure of information to the auditor
The director has taken steps that ought to have taken as a director in order to make aware of any relevant audit information and to establish that the company's auditor is aware of that information. The director confirms that there is no relevant information that of and of which the auditor is unaware.
Approved and authorised by the
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SCC (Holdings) Limited
Statement of Director's Responsibilities
The responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable to ensure that the financial statements comply with the Companies Act 2006. also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SCC (Holdings) Limited
Independent Auditor's Report to the Members of SCC (Holdings) Limited
Opinion
We have audited the financial statements of SCC (Holdings) Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2025 and of the group's profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
SCC (Holdings) Limited
Independent Auditor's Report to the Members of SCC (Holdings) Limited
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of director's remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities set out on page 4, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the group’s and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
SCC (Holdings) Limited
Independent Auditor's Report to the Members of SCC (Holdings) Limited
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations as relating to breaches around health and safety regulations and breaches of The General Data Protection Regulation (“GDPR”). We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as The Companies Act 2006, and relevant tax legislation (Corporation Tax, VAT etc.). We considered the extent to which non-compliance with these laws and regulations may have a material effect on the financial statements.
We also evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks were related to the overstatement of profit, either through overstating revenue, understating expenditure or management bias in accounting estimates
Based on this understanding we designed our audit procedures to identify irregularities. Our procedures involved the following:
• Enquiries to members of Senior Management, regarding their knowledge of any non-compliance or potential non-compliance with laws and regulations that could affect the financial statements;
• Inspection of documents in relation to any health and safety incidents which have been reported under The Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013 (“RIDDOR”) during the period;
• Evaluations of the group’s controls in relation to GDPR and enquiries to Senior Management as to the occurrence and outcome of any reportable breaches;
• Challenging assumptions and judgements made by management in its significant accounting estimates; and
• Evaluation and testing of the design and implementation of management’s controls designed to prevent and detect irregularities;
• Testing the recognition of revenue and costs, in particular around the year end date;
• Reviewing draft tax computations and involving the use of our specialists as required (e.g. VAT);
• Testing on a sample basis of the accuracy of claims submitted under the Coronavirus Job Retention Scheme;
• Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.
• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.
SCC (Holdings) Limited
Independent Auditor's Report to the Members of SCC (Holdings) Limited
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
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Centenary House
Peninsula Park
Rydon Lane
EX2 7XE
SCC (Holdings) Limited
Consolidated Profit and Loss Account
Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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|
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Distribution costs |
( |
( |
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Administrative expenses |
( |
( |
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Other operating income |
|
- |
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|
Operating profit/(loss) |
|
( |
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Gain on financial assets at fair value through profit and loss |
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Other interest receivable and similar income |
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|
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Interest payable and similar expenses |
( |
( |
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(73,676) |
(80,907) |
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Profit/(loss) before tax |
|
( |
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|
Tax on profit/(loss) |
( |
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Profit/(loss) for the financial year |
|
( |
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Profit/(loss) attributable to: |
|||
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Owners of the company |
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( |
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Minority interests |
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( |
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|
|
( |
SCC (Holdings) Limited
Consolidated Balance Sheet
31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
- |
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Tangible assets |
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|
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Current assets |
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Stocks |
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Debtors |
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Other financial assets |
- |
45,969 |
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|
Cash at bank and in hand |
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|
|
|
|
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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|
Total assets less current liabilities |
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|
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|
Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Profit and loss account |
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Equity attributable to owners of the company |
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Minority interests |
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Shareholders' funds |
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Approved and authorised by the
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Company Registration Number: 09408865
SCC (Holdings) Limited
Balance Sheet
31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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|
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|
Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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The company has taken the exemption in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account. The company made a profit after tax for the financial year of £909,074 (2024 - profit of £37,231).
Approved and authorised by the
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Company Registration Number: 09408865
SCC (Holdings) Limited
Consolidated Statement of Changes in Equity
Year Ended 31 December 2025
|
Share capital |
Merger reserve |
Profit and loss account |
Non-controlling interests |
Total |
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|
At 1 January 2025 |
|
|
|
|
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Profit for the year |
- |
- |
|
|
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Total comprehensive income |
- |
- |
|
|
|
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Dividends |
- |
- |
( |
- |
( |
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Transfer arising from subsidiary dividend payment |
- |
- |
85,000 |
(85,000) |
- |
|
At 31 December 2025 |
|
|
|
|
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Share capital |
Merger reserve |
Profit and loss account |
Non-controlling interests |
Total |
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At 1 January 2024 |
|
|
|
|
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Loss for the year |
- |
- |
( |
( |
( |
|
Total comprehensive income |
- |
- |
( |
( |
( |
|
Dividends |
- |
- |
( |
- |
( |
|
At 31 December 2024 |
100,000 |
135,000 |
839,553 |
123,184 |
1,197,737 |
SCC (Holdings) Limited
Statement of Changes in Equity
Year Ended 31 December 2025
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Share capital |
Profit and loss account |
Total |
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At 1 January 2025 |
|
|
|
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Profit for the year |
- |
909,074 |
909,074 |
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Total comprehensive income |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
Share capital |
Profit and loss account |
Total |
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|
At 1 January 2024 |
|
|
|
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Profit for the year |
- |
|
|
|
Total comprehensive income |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 31 December 2024 |
100,000 |
161,681 |
261,681 |
SCC (Holdings) Limited
Consolidated Statement of Cash Flows
Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Cash flows from operating activities |
|||
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Profit/(loss) for the year |
|
( |
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
|
|
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Financial instrument net gains (losses) through profit and loss |
( |
( |
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Profit on disposal of tangible assets |
( |
- |
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Finance income |
( |
( |
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Finance costs |
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Income tax expense |
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( |
|
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|
( |
||
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Working capital adjustments |
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(Increase)/decrease in stocks |
( |
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(Increase)/decrease in trade debtors |
( |
|
|
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Increase/(decrease) in trade creditors |
|
( |
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Cash generated from operations |
|
( |
|
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Income taxes paid |
- |
( |
|
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Net cash flow from operating activities |
|
( |
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Cash flows from investing activities |
|||
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Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
- |
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Net withdrawal from investments |
|
|
|
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Net cash flows from investing activities |
( |
( |
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Cash flows from financing activities |
|||
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Interest paid |
( |
( |
|
|
Repayment of other borrowing |
( |
( |
|
|
Receipts/(payments) from/(to) finance lease creditors |
( |
|
|
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Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
|
|
|
Net increase/(decrease) in cash and cash equivalents |
|
( |
|
|
Cash and cash equivalents at 1 January |
|
|
|
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Cash and cash equivalents at 31 December |
858,937 |
703,497 |
|
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
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General information |
The company is a incorporated in England. The address of its registered office is detailed on page 1.
The principal place of business is:
142 Priorswood Road
Taunton
TA2 8DN
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. There are no material departures from FRS102.
Basis of preparation
These financial statements have been prepared using the historical cost convention, modified to include certain items at fair value.
The functional currency of SCC (Holdings) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the group operates.
Basis of consolidation
The Group financial statements consolidate the financial statements of the Company and its subsidiary undertakings drawn up to 31 December 2025.
The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill. Inter-company transactions, balances and unrealised gains on transactions between the Company and its subsidiaries, which are related parties, are eliminated in full.
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
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2 |
Accounting policies (continued) |
Going concern
The directors have considered the main risks and uncertainties faciing the group including the economic climate and general competition, and the anticipated impact on cash flow and working capital requirements. Based on this review, as well as the forecasts prepared, the directors are satisfied that, based on information available to date, the group has adequate resources available to enable it to discharge its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. The directors therefore continue to adopt the going concern basis in preparing its financial statements.
Key sources of estimation uncertainty
The group makes estimates and judgements concerning the future and the resulting estimates may, by definition vary from the actual results. The Directors considered the critical accounting estimates and judgements used in the financial statements and concluded that the main areas of judgement are:
Used Stock Valuation:
Used Vehicle stock is valued at cost or, if lower, trade price valuation based upon the age, mileage and condition of the vehicle.
Changes to FRS 102 in future periods
The Financial Reporting Council has published changes to FRS 102 which will take effect in next year’s financial statements. The main rule changes are to revenue and leases.
There is no requirement to restate figures from previous years, so we do not expect any changes to the figures we report here for the year to 31 December 2025 or any earlier periods.
The main impact on figures for the year to 31 December 2026 is that our main leases, being the properties we rent, will be brought onto the balance sheet as right of use assets, increasing both Tangible Fixed Assets and Lease Liabilities from 1 January 2026 onwards. Payments on these leases after 1 January 2026 will be classified as depreciation or interest payable.
Revenue recognition
Turnover is measured at invoice price, excluding discounts and Value Added Tax, and principally comprises external vehicle sales, parts and servicing sales. Vehicle and parts sales are recognised at the time of delivery to the customer. Service sales are recognised in line with the work performed.
Tax
Income tax expense for the period represents the sum of the current tax currently payable and deferred tax. Tax is recognised in profit of loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax.
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
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2 |
Accounting policies (continued) |
Tangible Assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold Improvements |
3 to 6 years straight line |
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Plant and Machinery |
3 to 6 years straight line |
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Fixtures, fittings and office equipment |
3 to 6 years straight line |
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Motor Vehicles |
3 to 4 years straight line |
|
Freehold land and buildings |
50 years straight line |
Investment property
Intangible assets
Franchise Relationships are recorded at cost, capitalised, and written off on a straight line basis over a presumed maximum life of 10 years.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Franchise Relationships |
10 years straight line |
Stock
Stock has been valued on the following basis:
New Vehicles - at cost.
Used Vehicles - at cost or, if lower, at trade price valuation based on the age, mileage and condition of the vehicle.
Parts - at cost, less provision for obsolescence.
Consignment stock - not recognised as an asset of the company as the risks and rewards of the stock have not significantly transferred to the company.
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
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2 |
Accounting policies (continued) |
Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest charged is charged to the profit and loss account on a straight line basis.
Defined contribution pension obligation
The group operates a money purchase pension scheme for certain employees. The assets of the scheme are held separately from those of the group. The annual contributions payable are charged to the profit and loss account.
Financial instruments
Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment (doubtful debts) are recognised in the profit and loss account before operating profit.
Other loans
Other loans are initially recorded at transaction price and subsequently measured at amortised cost using the effective interest method.
Current asset investments - Managed funds
Current asset investments are initially recorded at cost, and are measured subsequently at fair value through the profit and loss account.
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Turnover |
The analysis of the group's turnover for the year by market is as follows:
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2025 |
2024 |
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UK |
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SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
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Operating profit/(loss) |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
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|
Operating lease expense - property |
|
|
|
Profit on disposal of property, plant and equipment |
( |
- |
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
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Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
|
|
The average number of persons employed by the group (including the director) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Number of staff |
|
|
|
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
5,000 |
5,000 |
|
Audit of the financial statements of subsidiaries of the company pursuant to legislation |
23,500 |
23,400 |
|
|
|
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
6 |
Auditors' remuneration (continued) |
The audit costs of the parent company have been borne by the subsidiary.
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Interest expense on other loans held at amortised cost |
|
|
|
|
|
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax adjustment to prior periods |
- |
( |
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
|
( |
|
Arising from changes in tax rates and laws |
- |
|
|
Total deferred taxation |
|
( |
|
Tax expense/(receipt) in the income statement |
|
( |
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit/(loss) before tax |
|
( |
|
Corporation tax at standard rate |
|
( |
|
Increase in UK and foreign current tax from adjustment for prior periods |
|
|
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Other tax effects for reconciliation between accounting profit and tax expense (income) |
- |
9,736 |
|
Total tax charge/(credit) |
|
( |
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Intangible assets |
Group
|
Franchise Relationships |
Total |
|
|
Cost |
||
|
At 1 January 2025 |
|
|
|
At 31 December 2025 |
|
|
|
Amortisation |
||
|
At 1 January 2025 |
|
|
|
Amortisation charge |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
- |
- |
|
At 31 December 2024 |
|
|
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Tangible Assets |
Group
|
Land and buildings |
Fixtures, fittings and office equipment |
Plant and Machinery |
Motor vehicles |
Total |
|
|
Cost |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
- |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
- |
- |
( |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 December 2025 |
|
|
|
|
|
|
At 31 December 2024 |
|
|
|
|
|
Included within the net book value of land and buildings above is £1,635,236 (2024 - £1,670,613) in respect of freehold land and buildings and £601,049 (2024 - £667,419) in respect of leasehold improvements.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Fixtures, fittings and office equipment |
- |
- |
|
Leasehold Improvements |
357,028 |
444,974 |
|
357,028 |
444,974 |
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
11 |
Tangible Assets (continued) |
Company
|
Land and buildings |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2025 |
|
|
|
At 31 December 2025 |
|
|
|
Depreciation |
||
|
At 1 January 2025 |
|
|
|
Charge for the year |
|
|
|
At 31 December 2025 |
|
|
|
Carrying amount |
||
|
At 31 December 2025 |
|
|
|
At 31 December 2024 |
|
|
Included within the net book value of land and buildings above is £1,635,236 (2024 - £1,670,613) in respect of freehold land and buildings.
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost |
|
|
At 1 January 2025 |
|
|
Carrying amount |
|
|
At 31 December 2025 |
|
|
At 31 December 2024 |
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company and its subsidiary hold any class of share capital are as follows:
|
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
|
2025 |
2024 |
|||
|
Subsidiary undertakings |
||||
|
|
Centenary House
|
Ordinary |
|
|
|
England |
||||
|
|
Centenary House, Peninsula Park, Rydon Lane, Exeter, EX2 7XE |
Ordinary |
|
|
|
England |
||||
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
12 |
Investments (continued) |
|
Subsidiary undertakings |
|
Somerset County Cars Limited The principal activity of Somerset County Cars Limited is |
|
Motor Animations Limited (*) The principal activity of Motor Animations Limited (*) is |
(*) held by Somerset County Cars Limited
|
Stock |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Other inventories |
|
|
- |
- |
|
Debtors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Trade debtors |
|
|
- |
- |
|
|
Other debtors |
|
|
- |
- |
|
|
Prepayments |
|
|
- |
- |
|
|
Income tax asset |
|
|
- |
- |
|
|
|
|
- |
- |
||
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Other financial assets |
Group
|
Financial assets at fair value through profit and loss |
Total |
|
|
Current financial assets - managed funds |
||
|
Cost or valuation |
||
|
At 1 January 2025 |
45,969 |
45,969 |
|
Additions |
110,000 |
110,000 |
|
Fair value adjustments |
6,824 |
6,824 |
|
Disposals |
(162,793) |
(162,793) |
|
At 31 December 2025 |
- |
- |
|
Carrying amount |
||
|
At 31 December 2025 |
- |
- |
|
Cash and cash equivalents and net funds/(debt) |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash at bank |
|
|
|
|
|
Analysis of cash and cash equivalents and net debt |
|
At 1 January 2025 |
Cash flow |
Other |
31 December 2025 |
|
|
£ |
£ |
£ |
£ |
|
|
Cash and cash equivalents |
703,497 |
155,440 |
- |
858,937 |
|
Other loans |
(926,086) |
81,024 |
- |
(845,062) |
|
Finance leases and Hire Purchase |
(488,125) |
128,835 |
- |
(359,290) |
|
Net funds/(debt) |
(710,714) |
365,299 |
- |
(345,415) |
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
2024 |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Trade creditors |
|
|
- |
- |
|
|
Amounts due to group undertakings |
- |
- |
|
|
|
|
Social security and other taxes |
|
|
|
|
|
|
Other creditors |
|
|
|
|
|
|
Accruals |
|
|
|
|
|
|
Obligations under Finance Lease and Hire Purchase contracts |
|
|
- |
- |
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Obligations under Finance Lease and Hire Purchase contracts |
|
|
- |
- |
|
|
|
|
|
|
||
Trade creditors of £2,023,624 (2024: £1,729,256) are secured on the stock of vehicles to which they relate. Obligations under finance lease and hire purchase contracts are secured on the related fixed assets.
Included in accruals in the prior year are costs relating to the new Taunton showroom refit for which a financing agreement was entered into during the year ended 31 December 2024.
Other loans comprise the following:-
£600,000 loan repayable in equal instalments over 10 years at an interest rate of 3% above the Bank of England base rate per annum , secured on certain freehold property of the company. £370,000 was outstanding at 31 December 2025 of which £60,000 was due within one year. £310,000 was due after more than five years.
£466,666 loan repayable in full by 31 December 2027 at an interest rate of 6.43% per annum, secured on certain freehold property of the company (see Related Party Transactions).
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Obligations under leases and hire purchase contracts |
Group
Obligations under finance lease and hire purchase contracts
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Deferred tax and other provisions |
Group
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Increase (decrease) in existing provisions |
|
|
|
At 31 December 2025 |
|
|
|
|
||
Deferred tax
Group
Deferred tax assets and liabilities
|
2025 |
Asset |
Liability |
|
Fixed asset timing diffeences |
- |
|
|
- |
|
|
2024 |
Asset |
Liability |
|
Fixed asset timing diffeences |
- |
|
|
- |
|
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Employer contributions totalling £5,439 (2024 - £4,627) were payable to the scheme at the end of the year and are included in creditors.
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
100,000 |
|
100,000 |
|
Financial instruments |
Group
|
2025 |
2024 |
|
|
Financial assets measured at fair value through profit or loss |
- |
|
Financial assets measured at fair value
Managed funds
The value of the managed investment fund is based on publicly available market prices as at the reporting date.
The fair value is £Nil (2024 - £45,969) and the change in value included in profit or loss is £6,824 (2024 - £21,346).
|
Related party transactions |
Group
Key management personnel are considered to be the directors of the subsidiary company Somerset County Cars Limited.
Key management compensation
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase pension scheme |
|
|
|
|
|
Summary of transactions with directors
During the year, the company received payments of £nil (2024: £nil) from the director. The amount outstanding, owed to the director, at 31 December 2025 was £1,000 (2024: £1,000).
SCC (Holdings) Limited
Notes to the Financial Statements
Year Ended 31 December 2025
|
23 |
Related party transactions (continued) |
Summary of transactions with other related parties
|
Dividends |
|
2025 |
2024 |
|||
|
£ |
£ |
|||
|
Interim dividend of £ |
84,000 |
73,000 |
||
|
Controlling party |
The ultimate controlling party is