SC International Limited
SC International Limited
Registered number: 11524774
Financial Statements
For the Period 20 August 2018 to 31 August 2019
SC International Limited
Financial Statements
For the Period 20 August 2018 to 31 August 2019
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3—4 |
SC International Limited
Balance Sheet
As at
31 August 2019
Balance Sheet
Registered number:
11524774
For the period ending 31 August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 31 August 2019 | |||
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| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 2 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 3 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 475 | ||
Director's responsibilities
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The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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Page 1
SC International Limited
Balance Sheet (continued)
As at
31 August 2019
The notes on pages 3 to 4 form part of these financial statements.
Page 2
SC International Limited
Notes to the Financial Statements
For the Period 20 August 2018 to 31 August 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
1.3.
Taxation
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. 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. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
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.
2.
Debtors
| 31 August 2019 | |
|---|---|
| £ | |
| Due within one year | |
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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Page 3
SC International Limited
Notes to the Financial Statements (continued)
For the Period 20 August 2018 to 31 August 2019
3.
Creditors: Amounts Falling Due Within One Year
| 31 August 2019 | |
|---|---|
| £ | |
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Accruals and deferred income |
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| Director's loan account |
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4.
General Information
SC International Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11524774 . The registered office is 71-75 Shelton Street, London, WC2H 9JQ.
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