Company Registration No. 08248586 (England and Wales)
SC STRATEGY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018
PAGES FOR FILING WITH REGISTRAR
SC STRATEGY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SC STRATEGY LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2018
31 October 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,500
3,975
Current assets
Debtors
4
286,188
323,416
Cash at bank and in hand
430,806
406,597
716,994
730,013
Creditors: amounts falling due within one year
5
(193,399)
(190,755)
Net current assets
523,595
539,258
Total assets less current liabilities
526,095
543,233
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
525,995
543,133
Total equity
526,095
543,233

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements. true

For the financial year ended 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 .

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

The financial statements were approved by the board of directors and authorised for issue on 29 May 2019 and are signed on its behalf by:
Sir JM Scarlett
Director
Company Registration No. 08248586
SC STRATEGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018
- 2 -
1
Accounting policies
Company information

SC Strategy Limited is a private company limited by shares incorporated in England and Wales. The registered office is Egale 1, 80 St Albans Road, Watford, Hertfordshire, WD17 1DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts .

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33% SL
Computers
33% SL

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

1.4
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

SC STRATEGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2018
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 8 (2017 - 8).

SC STRATEGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2018
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2017
26,627
Additions
1,660
At 31 October 2018
28,287
Depreciation and impairment
At 1 November 2017
22,652
Depreciation charged in the year
3,135
At 31 October 2018
25,787
Carrying amount
At 31 October 2018
2,500
At 31 October 2017
3,975
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
260,769
99,044
Other debtors
25,419
224,372
286,188
323,416
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
23,595
9,878
Corporation tax
132,415
143,091
Other taxation and social security
14,551
31,563
Other creditors
22,838
6,223
193,399
190,755
SC STRATEGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2018
- 5 -
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
2018-10-31 2017-11-01 false CCH Software CCH Accounts Production 2019.100 No description of principal activity 04 June 2019 Alexander Carlile John Scarlett 08248586 2017-11-01 2018-10-31 08248586 2018-10-31 08248586 2017-10-31 08248586 core:OtherPropertyPlantEquipment 2018-10-31 08248586 core:OtherPropertyPlantEquipment 2017-10-31 08248586 core:CurrentFinancialInstruments 2018-10-31 08248586 core:CurrentFinancialInstruments 2017-10-31 08248586 core:ShareCapital 2018-10-31 08248586 core:ShareCapital 2017-10-31 08248586 core:RetainedEarningsAccumulatedLosses 2018-10-31 08248586 core:RetainedEarningsAccumulatedLosses 2017-10-31 08248586 core:ShareCapitalOrdinaryShares 2018-10-31 08248586 core:ShareCapitalOrdinaryShares 2017-10-31 08248586 bus:Director2 2017-11-01 2018-10-31 08248586 core:FurnitureFittings 2017-11-01 2018-10-31 08248586 core:ComputerEquipment 2017-11-01 2018-10-31 08248586 core:OtherPropertyPlantEquipment 2017-10-31 08248586 core:OtherPropertyPlantEquipment 2017-11-01 2018-10-31 08248586 bus:OrdinaryShareClass1 2018-10-31 08248586 bus:OrdinaryShareClass1 2017-11-01 2018-10-31 08248586 bus:PrivateLimitedCompanyLtd 2017-11-01 2018-10-31 08248586 bus:FRS102 2017-11-01 2018-10-31 08248586 bus:AuditExemptWithAccountantsReport 2017-11-01 2018-10-31 08248586 bus:SmallCompaniesRegimeForAccounts 2017-11-01 2018-10-31 08248586 bus:Director1 2017-11-01 2018-10-31 08248586 bus:FullAccounts 2017-11-01 2018-10-31 xbrli:pure xbrli:shares iso4217:GBP