0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 09891216 2022-12-01 2023-11-30 09891216 2023-11-30 09891216 2022-11-30 09891216 2021-12-01 2022-11-30 09891216 2022-11-30 09891216 2021-11-30 09891216 core:MotorVehicles 2022-12-01 2023-11-30 09891216 bus:Director1 2022-12-01 2023-11-30 09891216 core:MotorVehicles 2022-11-30 09891216 core:LandBuildings 2023-11-30 09891216 core:MotorVehicles 2023-11-30 09891216 core:WithinOneYear 2023-11-30 09891216 core:WithinOneYear 2022-11-30 09891216 core:AfterOneYear 2023-11-30 09891216 core:AfterOneYear 2022-11-30 09891216 core:ShareCapital 2023-11-30 09891216 core:ShareCapital 2022-11-30 09891216 core:RetainedEarningsAccumulatedLosses 2023-11-30 09891216 core:RetainedEarningsAccumulatedLosses 2022-11-30 09891216 core:LandBuildings 2022-11-30 09891216 core:MotorVehicles 2022-11-30 09891216 bus:SmallEntities 2022-12-01 2023-11-30 09891216 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 09891216 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 09891216 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09891216 bus:FullAccounts 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: 09891216
SCOTT HAWKINS PROPERTY LTD
Filleted Unaudited Financial Statements
30 November 2023
SCOTT HAWKINS PROPERTY LTD
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
614,506
617,705
Current assets
Debtors
5
49,290
44,944
Cash at bank and in hand
14,313
14,743
--------
--------
63,603
59,687
Creditors: amounts falling due within one year
6
62,236
74,177
--------
--------
Net current assets/(liabilities)
1,367
( 14,490)
---------
---------
Total assets less current liabilities
615,873
603,215
Creditors: amounts falling due after more than one year
7
516,253
533,164
---------
---------
Net assets
99,620
70,051
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
99,618
70,049
--------
--------
Shareholders funds
99,620
70,051
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SCOTT HAWKINS PROPERTY LTD
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 28 August 2024 , and are signed on behalf of the board by:
Mr S Hawkins
Director
Company registration number: 09891216
SCOTT HAWKINS PROPERTY LTD
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooks House, 1 Albion Place, Maidstone, Kent, ME14 5DY, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
4. Tangible assets
Land and buildings
Motor vehicles
Total
£
£
£
Cost
At 1 December 2022 and 30 November 2023
601,709
19,995
621,704
---------
--------
---------
Depreciation
At 1 December 2022
3,999
3,999
Charge for the year
3,199
3,199
---------
--------
---------
At 30 November 2023
7,198
7,198
---------
--------
---------
Carrying amount
At 30 November 2023
601,709
12,797
614,506
---------
--------
---------
At 30 November 2022
601,709
15,996
617,705
---------
--------
---------
5. Debtors
2023
2022
£
£
Other debtors
49,290
44,944
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
30,187
28,694
Corporation tax
7,422
6,164
Social security and other taxes
1,012
1,259
Other creditors
23,615
38,060
--------
--------
62,236
74,177
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
416,157
433,068
Other creditors
100,096
100,096
---------
---------
516,253
533,164
---------
---------