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REGISTERED NUMBER: 03390032 (England and Wales)






Scartop Pine Villages Limited

Financial Statements

for the Year Ended 29 December 2023






Scartop Pine Villages Limited (Registered number: 03390032)

Contents of the Financial Statements
for the year ended 29 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Scartop Pine Villages Limited

Company Information
for the year ended 29 December 2023







DIRECTORS: Mrs S Johnston
Mrs I Beever





SECRETARY: Mrs I Beever





REGISTERED OFFICE: The Office (Unit 1A)
Chestnut Business Park
Smallshaw Lane
Burnley
Lancashire
BB11 5SQ





REGISTERED NUMBER: 03390032 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Scartop Pine Villages Limited (Registered number: 03390032)

Balance Sheet
29 December 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 467 622
Investment property 6 2,000,000 2,700,000
2,000,467 2,700,622

CURRENT ASSETS
Debtors 7 10,760 13,640
Cash at bank 48,917 13,595
59,677 27,235
CREDITORS
Amounts falling due within one year 8 929,101 903,778
NET CURRENT LIABILITIES (869,424 ) (876,543 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,131,043

1,824,079

PROVISIONS FOR LIABILITIES - 52,047
NET ASSETS 1,131,043 1,772,032

Scartop Pine Villages Limited (Registered number: 03390032)

Balance Sheet - continued
29 December 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 9 5,001 5,001
Capital redemption reserve 10 5,001 5,001
Retained earnings 10 1,121,041 1,762,030
SHAREHOLDERS' FUNDS 1,131,043 1,772,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2024 and were signed on its behalf by:





Mrs I Beever - Director


Scartop Pine Villages Limited (Registered number: 03390032)

Notes to the Financial Statements
for the year ended 29 December 2023


1. STATUTORY INFORMATION

Scartop Pine Villages 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 functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the amount receivable in the ordinary course of business from the rental of properties, excluding value added tax.

Intangible assets
The costs incurred in developing the website have been capitalised as an intangible asset. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment loss.

Website costs are being amortised evenly over its estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Fixed assets are initially recorded at cost.

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.

Fair value has been determined by the directors having taken the appropriate professional advice and based on similar properties in the local area.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities ae offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


Scartop Pine Villages Limited (Registered number: 03390032)

Notes to the Financial Statements - continued
for the year ended 29 December 2023


2. ACCOUNTING POLICIES - continued
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.

Taxation
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.

Other operating income
Other operating income relates to sale of furniture and royalty income which is included on a receivable basis calculated on a percentage of the value of sales of products through websites which the company owns.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Website
£
COST
At 30 December 2022
and 29 December 2023 3,750
AMORTISATION
At 30 December 2022
and 29 December 2023 3,750
NET BOOK VALUE
At 29 December 2023 -
At 29 December 2022 -

Scartop Pine Villages Limited (Registered number: 03390032)

Notes to the Financial Statements - continued
for the year ended 29 December 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
£
COST
At 30 December 2022
and 29 December 2023 5,709
DEPRECIATION
At 30 December 2022 5,087
Charge for year 155
At 29 December 2023 5,242
NET BOOK VALUE
At 29 December 2023 467
At 29 December 2022 622

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 30 December 2022 2,700,000
Revaluations (700,000 )
At 29 December 2023 2,000,000
NET BOOK VALUE
At 29 December 2023 2,000,000
At 29 December 2022 2,700,000

The investment property has been stated at its fair value as determined by the directors.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors - 3,250
Prepayments and accrued income 10,760 10,390
10,760 13,640

Scartop Pine Villages Limited (Registered number: 03390032)

Notes to the Financial Statements - continued
for the year ended 29 December 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 14,206 12,784
Tax 4,341 10,810
Other creditors 225 1,694
Directors' current accounts 908,084 876,245
Accruals and deferred income 2,245 2,245
929,101 903,778

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
5,001 Ordinary £1 5,001 5,001

10. RESERVES

Included within the retained earnings is £707,147 (2022: £707,147) as a result of the inclusion of the investment property at its fair value and is as such non-distributable.