SCB Property Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02833148 (England and Wales)

Financial Statements

for the Year Ended 31 March 2020

for

SCB Property Services Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Campbell-Barr

S E Campbell-Barr

REGISTERED OFFICE:

Maltings Cottage

Melton Hill

Woodbridge

Suffolk

IP12 1AX

REGISTERED NUMBER:

02833148 (England and Wales)

ACCOUNTANTS:

Pinfold & Co

Chartered Accountants

8 Deben Mill Business Centre

Old Maltings Approach

Woodbridge

Suffolk

IP12 1BL

FIXED ASSETS

Investment property

4

300,000

300,000

CURRENT ASSETS

Debtors

3,525

-

Cash at bank

28,937

37,390

32,462

37,390

CREDITORS

Amounts falling due within one year

3,468

8,434

NET CURRENT ASSETS

28,994

28,956

TOTAL ASSETS LESS CURRENT LIABILITIES

328,994

328,956

PROVISIONS FOR LIABILITIES

5

43,114

43,114

NET ASSETS

285,880

285,842

CAPITAL AND RESERVES

Called up share capital

6

4

2

Retained earnings

285,876

285,840

SHAREHOLDERS' FUNDS

285,880

285,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 December 2020 and were signed on its behalf by:

S Campbell-Barr - Director

1.	STATUTORY INFORMATION

SCB Property Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover

The turnover represents net invoiced sales of services, excluding value added tax, arising from letting commercial properties.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The value of the investment property as valued by the directors remains the same as in the previous year.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

and 31 March 2020

300,000

NET BOOK VALUE

At 31 March 2020

300,000

At 31 March 2019

300,000

Fair value at 31 March 2020 is represented by:

£

Valuation in 2012

248,718

Valuation in 2016

(30,000

)

Valuation in 2017

1,000

Valuation in 2019

7,196

Cost

73,086

300,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.20

31.3.19

£

£

Cost

73,086

73,086

Investment property was valued on an open market value basis on 31 March 2017 by Simon Wright Ltd (Surveyors) .

The directors considered the value of the investment property to be £330,000 for 2018 and £300,00 for 2019 and 2020.

5.	PROVISIONS FOR LIABILITIES

31.3.20

31.3.19

£

£

Deferred tax

43,114

43,114

Deferred

tax

£

Balance at 1 April 2019

43,114

Balance at 31 March 2020

43,114

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

2

Ordinary

£1

4

2

7.	SUMMARY OF TRANSACTIONS WITH DIRECTORS

The following advances by and repayments to a director subsisted during the years ended 31 March 2020 and 31 March 2019:

31.3.20

31.3.19

£

£

S Campbell-Barr

Balance outstanding at start of year

311

156

Amounts advanced

9,000

5,500

Amounts repaid

(8,862

)

(5,345

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

449

311

8.	ULTIMATE CONTROLLING PARTY

The controlling party is S Campbell-Barr.