Registration number:
SC4 (UK) Limited
for the Year Ended 31 July 2022
SC4 (UK) Limited
(Registration number: 07156033)
Balance Sheet as at 31 July 2022
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2022 |
2021 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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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)/assets |
( |
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Total assets less current liabilities |
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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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Capital redemption reserve |
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Revaluation reserve |
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Retained earnings |
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Shareholders' funds |
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SC4 (UK) Limited
(Registration number: 07156033)
Balance Sheet as at 31 July 2022
For the financial year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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SC4 (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Registration number: 07156033
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. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current 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 company operates and generates taxable income.
SC4 (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives as follows:
Asset class |
Depreciation method and rate |
Motor vehicles |
25% per annum on written down value |
Leasehold improvements |
0% |
Furniture, fittings and equipment |
10%, 15% or 20% per annum on written down value |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
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 |
Goodwill |
over 10 years |
SC4 (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
The business utilises an invoice financing facility. Financial assets and liabilities arising from a sale
are recorded at the transaction price.
Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer
settlement of the liability for at least twelve months after the reporting date.
SC4 (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the fair value at inception of the lease. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
SC4 (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022
Intangible assets |
Trademarks, patents and licenses |
Total |
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Cost or valuation |
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At 1 August 2021 |
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Additions acquired separately |
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At 31 July 2022 |
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Carrying amount |
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At 31 July 2022 |
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At 31 July 2021 |
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Tangible assets |
Leasehold improvements |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 August 2021 |
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Additions |
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- |
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At 31 July 2022 |
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Depreciation |
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At 1 August 2021 |
- |
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Charge for the year |
- |
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At 31 July 2022 |
- |
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Carrying amount |
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At 31 July 2022 |
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At 31 July 2021 |
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SC4 (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022
Debtors |
2022 |
2021 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Note |
2022 |
2021 |
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Due within one year |
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Loans and borrowings |
520,836 |
509,567 |
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Trade payables |
192,383 |
251,403 |
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Social security and other taxes |
244,051 |
71,222 |
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Other payables |
132,780 |
82,943 |
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1,090,050 |
915,135 |
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Amounts due to related parties |
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630,413 |
614,513 |
SC4 (UK) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2022
Loans and borrowings |
2022 |
2021 |
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Current loans and borrowings |
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Hire purchase contracts |
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Other borrowings |
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2022 |
2021 |
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Non-current loans and borrowings |
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Hire purchase contracts |
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Other borrowings |
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Other borrowings
The obligations under HP and finance leases are secured upon the assets to which they relate.
Included within other borrowings is the invoice finance creditor which is secured upon the book debts of the company.
Also included within other borrowings are other loans which are secured against the assets of the company.
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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830 |
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830 |
Related party transactions |
Transactions with parent