REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
SCOTT'S REAL ESTATE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
SCOTT'S REAL ESTATE LTD |
SCOTT'S REAL ESTATE LTD (REGISTERED NUMBER: 12281967) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
SCOTT'S REAL ESTATE LTD |
COMPANY INFORMATION |
For The Year Ended 31 OCTOBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
1 Kings Avenue |
London |
N21 3NA |
SCOTT'S REAL ESTATE LTD (REGISTERED NUMBER: 12281967) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
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 |
SCOTT'S REAL ESTATE LTD (REGISTERED NUMBER: 12281967) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Scott's Real Estate Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
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 unless otherwise specified in these accounting policies. |
The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due. |
Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. |
There are no significant judgements or estimates involved in the preparation of the financial statements. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
SCOTT'S REAL ESTATE LTD (REGISTERED NUMBER: 12281967) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 OCTOBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalent |
Cash and cash equivalents in the statement of financial position comprise cash in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. |
The company doesn't have any bank account during the period. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. |
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. |
Transition to frs 102 |
As there is no impact of the transition on the financial statements of the company, the reconciliation of equity and profit and loss is not considered necessary. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
5. | OFF-BALANCE SHEET ARRANGEMENTS |
The company acts as a nominee for certain assets held on behalf of family members, as per the declaration of trust dated 27 January 2021. The assets, valued at £4,490,000 as of Balance Sheet Date, are held solely for the benefit of the beneficiaries and are not included in the company's balance sheet. The company has no beneficial ownership of these assets and has no rights or obligations related to them other than as stipulated in the declaration of trust. Trustee fees earned during the year amounted to £Nil , and expenses incurred in managing the trust amounted to £Nil. |