Company Registration No. 08248586 (England and Wales)
SC STRATEGY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
PAGES FOR FILING WITH REGISTRAR
SC STRATEGY LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
SC STRATEGY LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2020
31 October 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,315
6,116
Current assets
Debtors
4
656,882
502,071
Cash at bank and in hand
583,597
366,809
1,240,479
868,880
Creditors: amounts falling due within one year
5
(379,247)
(475,421)
Net current assets
861,232
393,459
Total assets less current liabilities
871,547
399,575
Capital and reserves
Called up share capital
6
500
100
Share premium account
11,450
-
Profit and loss reserves
859,597
399,475
Total equity
871,547
399,575

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 2020 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 17 March 2021 and are signed on its behalf by:
Lord AC Carlile
Director
Company Registration No. 08248586
SC STRATEGY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2020
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 November 2018
100
-
525,995
526,095
Year ended 31 October 2019:
Profit and total comprehensive income for the year
-
-
593,480
593,480
Dividends
-
-
(720,000)
(720,000)
Balance at 31 October 2019
100
-
399,475
399,575
Year ended 31 October 2020:
Profit and total comprehensive income for the year
-
-
1,040,472
1,040,472
Issue of share capital
6
50
11,450
-
11,500
Bonus issue of shares
6
350
-
(350)
-
Dividends
-
-
(580,000)
(580,000)
Balance at 31 October 2020
500
11,450
859,597
871,547
SC STRATEGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2020
- 3 -
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 and cash equivalents 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 2020
1
Accounting policies
(Continued)
- 4 -
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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

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.

SC STRATEGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2020
2019
Number
Number
Total
8
8
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2019
36,473
Additions
11,128
At 31 October 2020
47,601
Depreciation and impairment
At 1 November 2019
30,359
Depreciation charged in the year
6,927
At 31 October 2020
37,286
Carrying amount
At 31 October 2020
10,315
At 31 October 2019
6,116
Last year c/fwd cost
36,475
Differs from this year b/fwd by
(2)
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
140,563
268,713
Other debtors
516,319
233,358
656,882
502,071
SC STRATEGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2020
- 6 -
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
51,585
236,764
Corporation tax
246,374
139,069
Other taxation and social security
21,347
28,681
Other creditors
59,941
70,907
379,247
475,421
6
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
0 (2019: 100) Ordinary shares of £1 each
-
100
225 (2019: 0) A Ordinary shares of £1 each
225
-
225 (2019: 0) B Ordinary shares of £1 each
225
-
50 (2019: 0) C Ordinary shares of £1 each
50
-
500
100

The 100 Ordinary £1 shares were converted into 50 A Ordinary £1 shares and 50 B Ordinary £1 shares.

 

175 A Ordinary £1 shares and 175 B Ordinary £1 shares were issued at par by way of a capitalisation of reserves.

 

50 C Ordinary £1 shares were issued at £230 per share.

 

 

2020-10-31 2019-11-01 false 17 March 2021 CCH Software CCH Accounts Production 2020.310 No description of principal activity Alexander Carlile John Scarlett M W Jessett 08248586 2019-11-01 2020-10-31 08248586 2020-10-31 08248586 2019-10-31 08248586 core:OtherPropertyPlantEquipment 2020-10-31 08248586 core:OtherPropertyPlantEquipment 2019-10-31 08248586 core:CurrentFinancialInstruments core:WithinOneYear 2020-10-31 08248586 core:CurrentFinancialInstruments core:WithinOneYear 2019-10-31 08248586 core:CurrentFinancialInstruments 2020-10-31 08248586 core:CurrentFinancialInstruments 2019-10-31 08248586 core:ShareCapital 2020-10-31 08248586 core:ShareCapital 2019-10-31 08248586 core:SharePremium 2020-10-31 08248586 core:RetainedEarningsAccumulatedLosses 2020-10-31 08248586 core:RetainedEarningsAccumulatedLosses 2019-10-31 08248586 core:ShareCapital 2018-10-31 08248586 core:RetainedEarningsAccumulatedLosses 2018-10-31 08248586 2018-10-31 08248586 core:ShareCapitalOrdinaryShares 2020-10-31 08248586 core:ShareCapitalOrdinaryShares 2019-10-31 08248586 bus:Director1 2019-11-01 2020-10-31 08248586 core:RetainedEarningsAccumulatedLosses 2018-11-01 2019-10-31 08248586 2018-11-01 2019-10-31 08248586 core:RetainedEarningsAccumulatedLosses 2019-11-01 2020-10-31 08248586 core:ShareCapital 2019-11-01 2020-10-31 08248586 core:SharePremium 2019-11-01 2020-10-31 08248586 core:FurnitureFittings 2019-11-01 2020-10-31 08248586 core:ComputerEquipment 2019-11-01 2020-10-31 08248586 core:OtherPropertyPlantEquipment 2019-10-31 08248586 core:OtherPropertyPlantEquipment 2019-11-01 2020-10-31 08248586 core:WithinOneYear 2020-10-31 08248586 core:WithinOneYear 2019-10-31 08248586 bus:PrivateLimitedCompanyLtd 2019-11-01 2020-10-31 08248586 bus:SmallCompaniesRegimeForAccounts 2019-11-01 2020-10-31 08248586 bus:FRS102 2019-11-01 2020-10-31 08248586 bus:AuditExemptWithAccountantsReport 2019-11-01 2020-10-31 08248586 bus:Director2 2019-11-01 2020-10-31 08248586 bus:Director3 2019-11-01 2020-10-31 08248586 bus:FullAccounts 2019-11-01 2020-10-31 xbrli:pure xbrli:shares iso4217:GBP