SCJW Holdings Ltd - Period Ending 2023-03-31

SCJW Holdings Ltd

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

SCJW Holdings Ltd

Balance Sheet

31 March 2023

	Note	2023 £	2022 £
Fixed assets
Investments	4	300	300
Current assets
Debtors	6	491,190	117,755
Other financial assets	5	850,567	893,720
Cash at bank and in hand		3,737,566	3,098,680
		5,079,323	4,110,155
Creditors: Amounts falling due within one year	7	(1,441,134)	(923,385)
Net current assets		3,638,189	3,186,770
Total assets less current liabilities		3,638,489	3,187,070
Provisions for liabilities		(7,937)	(28,902)
Net assets		3,630,552	3,158,168
Capital and reserves
Called up share capital		300	300
Other reserves		31,438	56,632
Profit and loss account		3,598,814	3,101,236
Shareholders' funds		3,630,552	3,158,168

SCJW Holdings Ltd

Balance Sheet

31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 22 December 2023 and signed on its behalf by:
 

......................................... J D G Williams Director

Company Registration Number: 11868604

SCJW Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

1	General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF
England

These financial statements were authorised for issue by the Board on 22 December 2023.

2	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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 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 company operates and generates taxable income.

SCJW Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

SCJW Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4	Investments

	2023 £	2022 £
Investments in subsidiaries	300	300

Subsidiaries	£
Cost or valuation
At 1 April 2022	300
At 31 March 2023	300
Carrying amount
At 31 March 2023	300
At 31 March 2022	300

SCJW Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Current financial assets
Cost or valuation
At 1 April 2022	893,720	893,720
Additions	181,474	181,474
Disposals	(176,829)	(176,829)
Fair value adjustments	(47,798)	(47,798)
At 31 March 2023	850,567	850,567
Carrying amount
At 31 March 2023	850,567	850,567
At 31 March 2022	893,720	893,720

6

Debtors

	2023 £	2022 £
Other debtors	491,190	117,755
	491,190	117,755

SCJW Holdings Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

	2023 £	2022 £
Due within one year
Other creditors	1,438,794	921,760
Accruals and deferred income	2,340	1,625
	1,441,134	923,385

8	Related party transactions

Transactions with directors

2023	At 1 April 2022 £	Advances to director £	Repayments by director £	At 31 March 2023 £
C T Williams
Directors loan account	-	310,780	(599,635)	(288,855)
J D G Williams
Directors loan account	-	515,017	(598,529)	(83,512)
S L McLachlan
Directors loan account	-	1,611,414	(1,582,483)	28,931

2022	At 1 April 2021 £	Advances to director £	Repayments by director £	At 31 March 2022 £
C T Williams
Directors loan account	4,755	-	(4,755)	-
J D G Williams
Directors loan account	230,532	-	(230,532)	-