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REGISTERED NUMBER: 07321443 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SCHEMEGLOBAL PROPERTIES (SOUTHPORT) LTD

SCHEMEGLOBAL PROPERTIES (SOUTHPORT) LTD (REGISTERED NUMBER: 07321443)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SCHEMEGLOBAL PROPERTIES (SOUTHPORT) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: M G Pearce





SECRETARY: M G Pearce





REGISTERED OFFICE: Glenbourne House
59 Burscough Street
Ormskirk
L39 2EL





REGISTERED NUMBER: 07321443 (England and Wales)





ACCOUNTANTS: Malthouse & Company Chartered Accountants
America House, Rumford Court
Rumford Place
Liverpool
Merseyside
L3 9DD

SCHEMEGLOBAL PROPERTIES (SOUTHPORT) LTD (REGISTERED NUMBER: 07321443)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £   
CURRENT ASSETS
Stocks 4 3,670,000 4,017,500
Debtors 5 214,351 17,993
Cash at bank 43,521 15,681
3,927,872 4,051,174
CREDITORS
Amounts falling due within one year 6 9,281,548 9,095,979
NET CURRENT LIABILITIES (5,353,676 ) (5,044,805 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,353,676

)

(5,044,805

)

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings 8 (5,353,876 ) (5,045,005 )
SHAREHOLDERS' FUNDS (5,353,676 ) (5,044,805 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SCHEMEGLOBAL PROPERTIES (SOUTHPORT) LTD (REGISTERED NUMBER: 07321443)

BALANCE SHEET - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 November 2023 and were signed by:





M G Pearce - Director


SCHEMEGLOBAL PROPERTIES (SOUTHPORT) LTD (REGISTERED NUMBER: 07321443)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Schemeglobal Properties (Southport) Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 - 2 ).

SCHEMEGLOBAL PROPERTIES (SOUTHPORT) LTD (REGISTERED NUMBER: 07321443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. STOCKS
31.3.23 31.3.22
£    £   
Stocks 3,670,000 4,017,500

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 199,118 1,566
VAT 5,965 8,366
Prepayments 9,268 8,061
214,351 17,993

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 2,760 1,740
Other creditors 176,916 47,346
Schemeglobal (Liverpool) Ltd 261,300 304,650
Directors' loan accounts 8,836,572 8,738,493
Accruals and deferred income 250 -
Accrued expenses 3,750 3,750
9,281,548 9,095,979

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
200 Ordinary 1 200 200

8. RESERVES
Retained
earnings
£   

At 1 April 2022 (5,045,005 )
Deficit for the year (308,871 )
At 31 March 2023 (5,353,876 )

SCHEMEGLOBAL PROPERTIES (SOUTHPORT) LTD (REGISTERED NUMBER: 07321443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


9. AMOUNTS ADVANCED BY THE DIRECTORS TO THE COMPANY

The following advances and credits from directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
D Moores
Balance outstanding at start of year (8,638,593 ) (8,842,034 )
Amounts advanced 9,542 226,041
Amounts repaid (67,620 ) (22,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8,696,671 ) (8,638,593 )

M G Pearce
Balance outstanding at start of year (99,900 ) (99,900 )
Amounts repaid (40,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (139,900 ) (99,900 )

10. RELATED PARTY DISCLOSURES

For the year ended 31 March 2023 a management charge is NIL (Year ended 31 March 2022: NIL) has been charged to the company by Michael Pearce Limited in which D. R. Moores is the majority shareholder. The net amount due to Michael Pearce Limited at 31 March 2023 is £13,135 (Year ended 31 March 2022: £35,335).

At 31 March 2023 there were intercompany balances outstanding is respect of funds transferred between associated companies as follows:

Owed to Schemeglobal Properties (Liverpool) Limited £261,301 (Year ended 31 March 2022: £304,651)