Scan Properties Limited - Accounts to registrar (filleted) - small 22.3

Scan Properties Limited - Accounts to registrar (filleted) - small 22.3

SCAN PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 00779015 (England and Wales)















SCAN PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25TH MARCH 2022





Sinclairs Bartrum Lerner
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT








SCAN PROPERTIES LIMITED (REGISTERED NUMBER: 00779015)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25TH MARCH 2022










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


SCAN PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 25TH MARCH 2022







DIRECTORS: Mrs E. Green
Mr M S Green





SECRETARY: Mr M S Green





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 00779015 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT
Page 1
SCAN PROPERTIES LIMITED (REGISTERED NUMBER: 00779015)

STATEMENT OF FINANCIAL POSITION
25TH MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 166 196
Investments 5 100,504 100,504
100,670 100,700

CURRENT ASSETS
Stocks 378,272 378,772
Debtors 6 463,955 94,563
Cash at bank 159,593 506,071
1,001,820 979,406
CREDITORS
Amounts falling due within one year 7 478,353 493,270
NET CURRENT ASSETS 523,467 486,136
TOTAL ASSETS LESS CURRENT LIABILITIES 624,137 586,836

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 624,037 586,736
SHAREHOLDERS' FUNDS 624,137 586,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25th March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 25th March 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 notes form part of these financial statements

Page 2 continued...
SCAN PROPERTIES LIMITED (REGISTERED NUMBER: 00779015)

STATEMENT OF FINANCIAL POSITION - continued
25TH MARCH 2022


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 15th December 2022 and were signed on its behalf by:





Mr M S Green - Director


The notes form part of these financial statements

Page 3
SCAN PROPERTIES LIMITED (REGISTERED NUMBER: 00779015)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25TH MARCH 2022


1. STATUTORY INFORMATION

Scan Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The significant accounting policies applied in the preparation of the financial statements are set out below and have been consistently applied to all years presented unless otherwise stated.

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 sale of property and lease extensions granted during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Government grants
Included within other operating income is an amount for grants receivable from the Government under the Coronavirus Job Retention Scheme.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stock of properties are valued at lower of cost and net realisable value.

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 statement of financial position date.


Page 4 continued...
SCAN PROPERTIES LIMITED (REGISTERED NUMBER: 00779015)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25TH MARCH 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Investments
Investments held as fixed assets are stated at cost less provision for permanent diminution in value. Those held as current assets are stated at the lower of cost and net realisable value.

Trade and other debtors / creditors
Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Subsequent to initial recognition, they are measured at transaction prices less any impairment losses. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs.

Cash and cash equivalents

Cash and cash equivalents comprise of cash balances and deposits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 26th March 2021
and 25th March 2022 504 4,997 5,501
DEPRECIATION
At 26th March 2021 348 4,957 5,305
Charge for year 24 6 30
At 25th March 2022 372 4,963 5,335
NET BOOK VALUE
At 25th March 2022 132 34 166
At 25th March 2021 156 40 196

Page 5 continued...
SCAN PROPERTIES LIMITED (REGISTERED NUMBER: 00779015)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 25TH MARCH 2022


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 26th March 2021
and 25th March 2022 100,504
NET BOOK VALUE
At 25th March 2022 100,504
At 25th March 2021 100,504

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 74,954 74,954
Other debtors 389,001 19,609
463,955 94,563

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed to group undertakings 446,643 446,643
Taxation and social security 10,359 8,022
Other creditors 21,351 38,605
478,353 493,270

Page 6