Scunthorpe Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12226361 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

SCUNTHORPE PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M Schreiber

J Schreiber

SECRETARY:

Mrs. R Niederman

REGISTERED OFFICE:

147 Stamford Hill

London

N16 5LG

REGISTERED NUMBER:

12226361 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Investment property

4

2,342,825

2,342,825

CURRENT ASSETS

Debtors

5

2,009,588

1,649,359

Cash at bank and in hand

51,183

2,498,653

2,060,771

4,148,012

CREDITORS

Amounts falling due within one year

6

(1,617,341

)

(3,784,237

)

NET CURRENT ASSETS

443,430

363,775

TOTAL ASSETS LESS CURRENT LIABILITIES

2,786,255

2,706,600

CREDITORS

Amounts falling due after more than one year

7

(1,361,200

)

(1,405,200

)

NET ASSETS

1,425,055

1,301,400

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

1,415,055

1,291,400

1,425,055

1,301,400

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

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 27 November 2023 and were signed on its behalf by:

J Schreiber - Director

M Schreiber - Director

1.	STATUTORY INFORMATION

Scunthorpe 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 (£).

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 represent net rent recivable excluding VAT.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2022

and 28 February 2023

2,342,825

NET BOOK VALUE

At 28 February 2023

2,342,825

At 28 February 2022

2,342,825

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Amounts owed by group undertakings

1,600,000

1,600,000

Other debtors

409,588

49,359

2,009,588

1,649,359

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.23

28.2.22

£

£

Trade creditors

121,075

59,817

Amounts owed to group undertakings

1,253,432

1,253,432

Taxation and social security

235,258

302,556

Other creditors

7,576

2,168,432

1,617,341

3,784,237

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.23

28.2.22

£

£

Bank loans

1,361,200

1,405,200

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,361,200

1,405,200