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Registration number: 08371139

Scalje Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Scalje Ltd

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 9

 

Scalje Ltd

(Registration number: 08371139)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

5,590

Tangible assets

5

18,153

20,262

Investment property

6

256,889

255,909

Investments

7

60

60

 

275,103

281,821

Current assets

 

Debtors

8

283,512

281,251

Cash at bank and in hand

 

43,902

89,141

 

327,414

370,392

Creditors: Amounts falling due within one year

9

(49,842)

(38,871)

Net current assets

 

277,572

331,521

Total assets less current liabilities

 

552,675

613,342

Creditors: Amounts falling due after more than one year

9

(15,833)

(145,833)

Provisions for liabilities

(15,352)

(13,510)

Net assets

 

521,490

453,999

Capital and reserves

 

Called up share capital

100

100

Retained earnings

521,390

453,899

Shareholders' funds

 

521,490

453,999

 

Scalje Ltd

(Registration number: 08371139)
Balance Sheet as at 31 January 2024

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 August 2024 and signed on its behalf by:
 

.........................................
M Gibbin
Director

 

Scalje Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Honeyholme Farm
Honeyholme Lane
Burnley
Lancashire
BB10 4SR
England

These financial statements were authorised for issue by the Board on 6 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Scalje Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible assets (Intellectual property)

20% straight line

 

Scalje Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Scalje Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 February 2023

57,900

57,900

At 31 January 2024

57,900

57,900

Amortisation

At 1 February 2023

52,310

52,310

Amortisation charge

5,589

5,589

At 31 January 2024

57,899

57,899

Carrying amount

At 31 January 2024

1

1

At 31 January 2023

5,590

5,590

 

Scalje Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

28,091

28,091

Additions

3,364

3,364

At 31 January 2024

31,455

31,455

Depreciation

At 1 February 2023

7,829

7,829

Charge for the year

5,473

5,473

At 31 January 2024

13,302

13,302

Carrying amount

At 31 January 2024

18,153

18,153

At 31 January 2023

20,262

20,262

6

Investment properties

2024
£

At 1 February

255,909

Additions

980

At 31 January

256,889

The investment properties have been purchased at market rates, valued by independent estate agents.

 

Scalje Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

7

Investments

2024
£

2023
£

Investments in subsidiaries

60

60

Subsidiaries

£

Cost or valuation

At 1 February 2023

60

Provision

Carrying amount

At 31 January 2024

60

At 31 January 2023

60

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Evolve Software Consultancy Limited

Honeyholme Farm, Burnley,
BB10 4SR

Ordinary

60%

60%

8

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

281,000

281,000

Other debtors

 

2,512

251

   

283,512

281,251

 

Scalje Ltd

Notes to the Financial Statements for the Year Ended 31 January 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

10,000

10,000

Trade creditors

 

-

2,085

Taxation and social security

 

38,842

25,878

Accruals and deferred income

 

1,000

908

 

49,842

38,871

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

15,833

145,833

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £nil (2023 - £120,000).

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

15,833

145,833

11

Parent and ultimate parent undertaking

The company's parent is Gibbin Holdings Ltd, incorporated in England.

 The ultimate controlling party is M Gibbin.