S C D (Hinckley) Limited - Accounts to registrar (filleted) - small 23.2

REGISTERED NUMBER: 01791852 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

S C D (HINCKLEY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K Bennett

C B Bennett

A Bennett

A Creed

S E Bennett

SECRETARY:

E Bennett

REGISTERED OFFICE:

Industrial Unit 5A

Hawley Road

Hinckley

Leicestershire

LE10 0PR

REGISTERED NUMBER:

01791852 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

Unit 2

Charnwood Edge Business Park

Syston Road

Leicester

LE7 4UZ

FIXED ASSETS

Tangible assets

4

58,729

72,802

Investments

5

722,904

834,466

781,633

907,268

CURRENT ASSETS

Debtors

6

429,211

323,292

Cash at bank

1,785,988

963,935

2,215,199

1,287,227

CREDITORS

Amounts falling due within one year

7

(1,413,343

)

(854,905

)

NET CURRENT ASSETS

801,856

432,322

TOTAL ASSETS LESS CURRENT LIABILITIES

1,583,489

1,339,590

PROVISIONS FOR LIABILITIES

(14,151

)

(13,340

)

NET ASSETS

1,569,338

1,326,250

CAPITAL AND RESERVES

Called up share capital

90

90

Capital redemption reserve

10

10

Retained earnings

1,569,238

1,326,150

1,569,338

1,326,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:

C B Bennett - Director

1.	STATUTORY INFORMATION

S C D (Hinckley) Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is Industrial Unit 5A, Hawley Road, Hinckley, Leicestershire, LE10 0PR and the registered number is 01791852.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised as goods are despatched.

Rendering of goods

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

10% straight line

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Investments

Listed fixed asset investments are initially measured at transaction price including transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in the profit or loss account.

Unlisted fixed asset investments are stated at cost less provision for diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2022

and 31 December 2022

276,932

DEPRECIATION

At 1 January 2022

204,130

Charge for year

14,073

At 31 December 2022

218,203

NET BOOK VALUE

At 31 December 2022

58,729

At 31 December 2021

72,802

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2022

671,139

Additions

85,791

Disposals

(81,637

)

At 31 December 2022

675,293

PROVISIONS

At 1 January 2022

(163,327

)

Provision for year

115,716

At 31 December 2022

(47,611

)

NET BOOK VALUE

At 31 December 2022

722,904

At 31 December 2021

834,466

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

334,151

229,555

Amounts owed by associates

93,737

93,737

Other debtors

1,323

-

429,211

323,292

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

-

215,147

Amounts owed to associates

1,257,755

511,799

Tax

90,625

74,288

VAT

22,268

11,218

Directors' current accounts

40,000

40,000

Accrued expenses

2,695

2,453

1,413,343

854,905