Registered number: 05514098
SCL GROUP LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
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SCL GROUP LIMITED
REGISTERED NUMBER:
05514098
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
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CREDITORS:
amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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Capital redemption reserve
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act")
and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 December 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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SCL GROUP LIMITED
ABBREVIATED BALANCE SHEET
(continued)
AS AT
31 DECEMBER 2015
The abbreviated accounts, which 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, were approved and authorised for issue by the board and were signed on its behalf on
27 September 2016
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
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SCL GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
1.
ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015)
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The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Investments held as fixed assets are shown at cost less provision for impairment.
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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Page 3
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SCL GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
1.
ACCOUNTING POLICIES (continued)
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Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.
Exchange gains and losses are recognised in the profit and loss account.
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Research and development expenditure is written off in the year in which it is incurred.
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Amounts recoverable on long term contracts, which are included within debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.
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2.
TANGIBLE FIXED ASSETS
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At 1 January 2015 and 31 December 2015
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Page 4
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SCL GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
3.
FIXED ASSET INVESTMENTS
Subsidiary undertakings
The following were subsidiary undertakings of the company:
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Strategic Communication Laboratories S.R.L.
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Strategic Communication Laboratories S.R.L.
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The aggregate of the share capital and reserves as at 31 December 2015 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:
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Aggregate of share capital and reserves
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Strategic Communication Laboratories S.R.L.
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4.
SHARE CAPITAL
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Allotted, called up and fully paid
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66,348
(2014 -
88,881
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Ordinary
shares of £
0.10
each
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Page 5
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SCL GROUP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
4.
SHARE CAPITAL (continued)
On 10 June 2015, the company passed a special resolution to reduce the share capital of the company from 88,881 ordinary shares of 10p each to 66,348 ordinary shares of 10p each by redeeming 22,533 ordinary shares of 10p each for a total consideration of £150,000.
Page 6
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