SCHOLES LIMITED

Company Registration Number:
SC589210 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

SCHOLES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

SCHOLES LIMITED

Company Information

for the Period Ended 31 March 2023




Director: Leonard Scholes
Debbie Scholes
Marcus Scholes
Registered office: Strathgary
Craigiefield Road
St. Ola
Kirkwall
Orkney
GBR
KW15 1UJ
Company Registration Number: SC589210 (Scotland)

SCHOLES LIMITED

Directors' Report Period Ended 31 March 2023

The directors present their report with the financial statements of the company for the period ended 31 March 2023

Principal Activities

Letting and operating of own or leased real estate

Political and charitable donations

No donations were made during the accounting period

Company policy on the employment of disabled persons

N/A as no employees

Directors

The directors shown below have held office during the whole of the period from 01 April 2022 to 31 March 2023
Leonard Scholes
Debbie Scholes
Marcus Scholes

This report was approved by the board of directors on 1 November 2023
And Signed On Behalf Of The Board By:

Name: Leonard Scholes
Status: Director

SCHOLES LIMITED

Profit and Loss Account

for the Period Ended 31 March 2023


Notes

2023
£

2022
£
Turnover 3,229 3,120
Cost of sales ( 0 ) ( 0 )
Gross Profit or (Loss) 3,229 3,120
Income from coronavirus (COVID-19) business support grants 0 0
Distribution Costs ( 0 ) ( 0 )
Administrative Expenses ( 447 ) ( 401 )
Other operating income 0 0
Operating Profit or (Loss) 2,782 2,719
Interest Receivable and Similar Income 0 0
Interest Payable and Similar Charges ( 7,094 ) ( 4,821 )
Profit or (Loss) Before Tax ( 4,312 ) ( 2,102 )
Profit or (Loss) for Period ( 4,312 ) ( 2,102 )

The notes form part of these financial statements

SCHOLES LIMITED

Balance sheet

As at 31 March 2023


Notes

2023
£

2022
£
Fixed assets
Tangible assets: 4 315,621 315,621
Total fixed assets: 315,621 315,621
Current assets
Cash at bank and in hand: 61 175
Total current assets: 61 175
Creditors: amounts falling due within one year: 5 ( 3,700 ) ( 8,971 )
Net current assets (liabilities): ( 3,639 ) ( 8,796 )
Total assets less current liabilities: 311,982 306,825
Creditors: amounts falling due after more than one year: 6 ( 345,586 ) ( 336,120 )
Total net assets (liabilities): ( 33,604 ) ( 29,295 )

The notes form part of these financial statements

SCHOLES LIMITED

Balance sheet continued

As at 31 March 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 300 300
Profit and loss account: ( 33,904 ) ( 29,595 )
Shareholders funds: ( 33,604 ) ( 29,295 )

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.

This report was approved by the board of directors on 1 November 2023
And Signed On Behalf Of The Board By:

Name: Leonard Scholes
Status: Director

The notes form part of these financial statements

SCHOLES 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

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 0 0

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

  • 3. Off balance sheet disclosure

    No

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Tangible assets

Land & buildings Total
Cost £ £
At 01 April 2022 315,621 315,621
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 March 2023 315,621 315,621
Depreciation
At 01 April 2022 - -
Charge for year - -
On disposals - -
Other adjustments - -
At 31 March 2023 - -
Net book value
At 31 March 2023 315,621 315,621
At 31 March 2022 315,621 315,621

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5.Creditors: amounts falling due within one year note


2023
£

2022
£
Bank loans and overdrafts 3,700 8,971
Total 3,700 8,971

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6.Creditors: amounts falling due after more than one year


2023
£

2022
£
Bank loans and overdrafts 126,692 125,121
Other creditors 218,894 210,999
Total 345,586 336,120