Skail Township Ltd (formerly known as DD1 Investments Ltd) Filleted accounts for Companies House (small and micro)

Skail Township Ltd (formerly known as DD1 Investments Ltd) Filleted accounts for Companies House (small and micro)

SKAIL TOWNSHIP LTD - Company Information

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COMPANY REGISTRATION NUMBER: SC540121
Skail Township Ltd (formerly known as DD1 Investments Ltd)
Filleted Unaudited Financial Statements
31 March 2021
Skail Township Ltd (formerly known as DD1 Investments Ltd)
Statement of Financial Position
31 March 2021
31 Mar 21
31 Jul 20
(restated)
Note
£
£
Current assets
Debtors
4
3,110
117,215
Cash at bank and in hand
147,257
34,644
---------
---------
150,367
151,859
Creditors: amounts falling due within one year
5
2,812
2,038
---------
---------
Net current assets
147,555
149,821
---------
---------
Total assets less current liabilities
147,555
149,821
---------
---------
Net assets
147,555
149,821
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
147,554
149,820
---------
---------
Shareholders funds
147,555
149,821
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 December 2021 , and are signed on behalf of the board by:
Mr G M Worrall
Director
Company registration number: SC540121
Skail Township Ltd (formerly known as DD1 Investments Ltd)
Notes to the Financial Statements
Period from 1 August 2020 to 31 March 2021
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 24 South Tay Street, Dundee, DD1 1PD, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
31 Mar 21
31 Jul 20
(restated)
£
£
Other debtors
3,110
117,215
-------
---------
5. Creditors: amounts falling due within one year
31 Mar 21
31 Jul 20
(restated)
£
£
Trade creditors
–
996
Other creditors
2,812
1,042
-------
-------
2,812
2,038
-------
-------
6. Prior period errors
Debtors and reserves were understated by £28,229 in 2019. This error has been dealt with by way of a prior year adjustment and comparatives have been restated.
7. Change of accounting reference date
The company changed their accounting reference date from 31 July to 31 March. The first period made up to the new reference date is the 8 months to 31 March 2021.
8. Related party transactions
At 31 March 2021 the company was due one (2020 - no) director £ 566 (2020 - £nil). This loan is interest free and has no definite terms of repayment . At 31 March 2021 the company was due £nil (2020 - £114,106) from a company in which both directors are also directors and shareholders. This loan is interest free and has no definite terms of repayment.