Scram Properties Limited - Period Ending 2022-01-31
Scram Properties Limited - Period Ending 2022-01-31
Registration number:
Scram Properties Limited
for the Period from 7 January 2021 to 31 January 2022
Scram Properties Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Scram Properties Limited
Company Information
Directors |
Mr C Laing Mrs A C Laing |
Registered office |
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Accountants |
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Scram Properties Limited
(Registration number: 13118704)
Balance Sheet as at 31 January 2022
Note |
2022 |
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Fixed assets |
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Investment property |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
(7,612) |
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Shareholders' deficit |
(7,512) |
For the financial period ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Scram Properties Limited
Notes to the Unaudited Financial Statements for the Period from 7 January 2021 to 31 January 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The company's balance sheet shows an insolvent position at the balance sheet date. The directors have arranged adequate funding to finance the compnay's continuing activities and to enable it to pay its debts as and when they fall due for payment, and accordingly considers that the company is a going concern and the financial statements have been perpared on this basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Government grants
Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.
Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.
Scram Properties Limited
Notes to the Unaudited Financial Statements for the Period from 7 January 2021 to 31 January 2022
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Investment properties |
2022 |
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Additions |
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At 31 January |
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The investment properties were valued on an open market basis on 31 January 2022 but the directors of the company. The open market value is considered to be equal to the purchase price of the properties.
There has been no valuation of investment property by an independent valuer.
Scram Properties Limited
Notes to the Unaudited Financial Statements for the Period from 7 January 2021 to 31 January 2022
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
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Due within one year |
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Trade creditors |
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Amounts owed to related parties |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Note |
2022 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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