Registration number:
Skeffington Properties Limited
for the Year Ended 31 May 2023
Skeffington Properties Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Skeffington Properties Limited
(Registration number: 10430768)
Balance Sheet as at 31 May 2023
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2022 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Skeffington Properties Limited
(Registration number: 10430768)
Balance Sheet as at 31 May 2023
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 and Directors' Report has been taken.
Approved and authorised by the
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Skeffington Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
UK
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 using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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.
Government grants
Government Grants are recognised using the accrual model. Grants which relate to revenue shall be recognised in other operating income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
Any amounts outstanding at the year end will be included within other debtors.
Skeffington Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
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 |
Fixtures, fittings and computer equipment |
25% reducing balance/ straight line over 3 years |
Motor vehicles |
25% reducing balance |
Plant & machinery |
25% reducing balance |
Investment property
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Skeffington Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Tangible assets |
Fixtures, fittings and computer equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 June 2022 |
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Additions |
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At 31 May 2023 |
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Depreciation |
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At 1 June 2022 |
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- |
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Charge for the year |
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At 31 May 2023 |
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Carrying amount |
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At 31 May 2023 |
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At 31 May 2022 |
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Investment properties |
2023 |
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At 1 June |
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Additions |
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At 31 May |
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The Director did not believe that it was commercially viable to revalue the properties at the balance sheet date and so the properties are currently held on the Balance Sheet at cost.
Skeffington Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Investments in associates |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 June 2022 |
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At 31 May 2023 |
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Carrying amount |
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At 31 May 2023 |
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At 31 May 2022 |
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Associates |
£ |
Cost |
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At 1 June 2022 |
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At 31 May 2023 |
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Carrying amount |
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At 31 May 2023 |
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At 31 May 2022 |
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Skeffington Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
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 |
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2023 |
2022 |
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Subsidiary undertakings |
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England and Wales |
Ordinary |
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England and Wales |
Ordinary |
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England and Wales |
Ordinary |
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Associates |
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England and Wales |
Ordinary |
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England and Wales |
Ordinary |
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England and Wales |
Ordinary |
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Debtors |
Note |
2023 |
2022 |
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Trade debtors |
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Amounts owed by participating interests |
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Other debtors |
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Skeffington Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and participating interests |
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Taxation and social security |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank loan |
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Hire purchase |
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2023 |
2022 |
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Non-current loans and borrowings |
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Bank loan |
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Hire purchase |
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Mortgages |
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The mortgages are secured on the investment Properties held in the company.