Skm Investments LimitedFilleted Accounts Cover
Skm Investments Limited
Company No. 12467539
Information for Filing with The Registrar
28 February 2023
Skm Investments LimitedDirectors Report Registrar
The Directors present their report and the accounts for the year ended 28 February 2023.
Principal activities
The principal activity of the company during the year under review was buying and letting of properties.
Directors
The Directors who served at any time during the year were as follows:
K.A. Matthews
S.E. Matthews
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
S.E. Matthews
Director
29 September 2023
Skm Investments LimitedBalance Sheet Registrar
at
28 February 2023
Company No.
12467539
Notes
2023
2022
£
£
Fixed assets
Investment property
4
230,000209,712
230,000209,712
Current assets
Debtors
5
2,030885
Cash at bank and in hand
19,026402
21,0561,287
Creditors: Amount falling due within one year
6
(217,950)
(216,895)
Net current liabilities
(196,894)
(215,608)
Total assets less current liabilities
33,106
(5,896)
Provisions for liabilities
Deferred taxation
7
(3,855)
-
Net assets/(liabilities)
29,251
(5,896)
Capital and reserves
Called up share capital
100100
Profit and loss account
8
29,151
(5,996)
Total equity
29,251
(5,896)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 28 February 2023 the company was entitled to exemption from audit 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 29 September 2023
And signed on its behalf by:
K.A. Matthews
Director
29 September 2023
Skm Investments LimitedNotes to the Accounts Registrar
for the year ended 28 February 2023
1
General information
Its registered number is: 12467539
Its registered office is:
2 Forest Farm Business Park
Fulford
York
YO19 4RH
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Freehold investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially
recognised at cost, which includes the purchase cost and any directly attributable expenditure.
Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is
recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However , this requirement conflicts
with the generally accepted accounting principle set out in FRS 102. The directors consider that, because
investment properties are not held for consumption, but for their investment potential, to depreciate
them would not give a true and fair view.

If this departure from the Companies Act had not been made in order to give a true and fair view, the
profit for the financial year would have been reduced by depreciation. However the amount of
depreciation cannot reasonably be quantified because depreciation is only one of the many factors
reflected in the annual valuation and the amount relation to the depreciation of the property cannot be
separately identified.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Investment property
Freehold Investment Property
£
Valuation
At 1 March 2022
209,712
Revaluation
20,288
At 28 February 2023
230,000
5
Debtors
2023
2022
£
£
Other debtors
1,200-
Prepayments and accrued income
830885
2,030885
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Corporation tax
153-
Loans from directors
216,597215,588
Accruals and deferred income
1,2001,307
217,950216,895
7
Provisions for liabilities
Deferred taxation
Accelerated Capital Allowances, Losses and Other Timing Differences
Total
£
£
Charge to the profit and loss account for the period
3,855
3,855
At 28 February 2023
3,855
3,855
2023
2022
£
£
Revaluation of land and buildings
3,855-
3,855-
8
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
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