K M SCOTT DEVELOPMENTS LIMITED

Company Registration Number:
05367703 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 1 April 2022

End date: 31 March 2023

K M SCOTT DEVELOPMENTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Additional notes
Balance sheet notes

K M SCOTT DEVELOPMENTS LIMITED

Balance sheet

As at 31 March 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 11,406 14,518
Total fixed assets: 11,406 14,518
Current assets
Stocks: 4 0 383,021
Debtors: 5 28,959 15,366
Cash at bank and in hand: 468,019 47,707
Total current assets: 496,978 446,094
Creditors: amounts falling due within one year: 6 ( 64,302 ) ( 274,594 )
Net current assets (liabilities): 432,676 171,500
Total assets less current liabilities: 444,082 186,018
Total net assets (liabilities): 444,082 186,018
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 443,982 185,918
Total Shareholders' funds: 444,082 186,018

The notes form part of these financial statements

K M SCOTT DEVELOPMENTS LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 26 September 2023
and signed on behalf of the board by:

Name: MR K M SCOTT
Status: Director

The notes form part of these financial statements

K M SCOTT DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for newly constructed properties sold.

    Tangible fixed assets depreciation policy

    Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Plant and equipment-Reducing balance basis,15% per annumMotor vehicles- Reducing balance basis, 25% per annum

    Valuation information and policy

    Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

    Other accounting policies

    The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

K M SCOTT DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 2 2

K M SCOTT DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 April 2022 24,671 27,680 52,351
Additions
Disposals
Revaluations
Transfers
At 31 March 2023 24,671 27,680 52,351
Depreciation
At 1 April 2022 19,495 18,338 37,833
Charge for year 776 2,336 3,112
On disposals
Other adjustments
At 31 March 2023 20,271 20,674 40,945
Net book value
At 31 March 2023 4,400 7,006 11,406
At 31 March 2022 5,176 9,342 14,518

K M SCOTT DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Stocks

2023 2022
£ £
Stocks 0 383,021
Total 0 383,021

K M SCOTT DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Debtors

2023 2022
£ £
Other debtors 28,959 15,366
Total 28,959 15,366

K M SCOTT DEVELOPMENTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 0 181,461
Trade creditors 0 32,758
Taxation and social security 60,850 2,005
Other creditors 3,452 58,370
Total 64,302 274,594