SCUDERIA PROPERTIES LIMITED

Company Registration Number:
SC513870 (Scotland)

Unaudited statutory accounts for the year ended 31 August 2023

Period of accounts

Start date: 1 September 2022

End date: 31 August 2023

SCUDERIA PROPERTIES LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

SCUDERIA PROPERTIES LIMITED

Directors' report period ended 31 August 2023

The directors present their report with the financial statements of the company for the period ended 31 August 2023

Principal activities of the company

Property Investment Company



Directors

The director shown below has held office during the whole of the period from
1 September 2022 to 31 August 2023

G Valente


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
30 August 2024

And signed on behalf of the board by:
Name: G Valente
Status: Director

SCUDERIA PROPERTIES LIMITED

Balance sheet

As at 31 August 2023

Notes 2023 2022


£

£
Fixed assets
Investments: 3 175,000
Total fixed assets: 175,000
Current assets
Cash at bank and in hand: 551 1
Total current assets: 551 1
Creditors: amounts falling due within one year: 4 ( 68,358 )
Net current assets (liabilities): (67,807) 1
Total assets less current liabilities: 107,193 1
Creditors: amounts falling due after more than one year: 5 ( 108,321 )
Total net assets (liabilities): (1,128) 1
Capital and reserves
Called up share capital: 1 1
Profit and loss account: (1,129 )
Total Shareholders' funds: ( 1,128 ) 1

The notes form part of these financial statements

SCUDERIA PROPERTIES LIMITED

Balance sheet statements

For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 30 August 2024
and signed on behalf of the board by:

Name: G Valente
Status: Director

The notes form part of these financial statements

SCUDERIA PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Other accounting policies

    Corporation 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 Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 Investment properties Investment property which is property held to earn rentals and/or for capital appreciation, is initially recognized at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognized in the profit and loss account.

SCUDERIA PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

SCUDERIA PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

3. Fixed assets investments note

Investment property comprises of two residential properties available for rent. The fair value of the investment property has been arrived at on the basis of an internal valuation undertaken by the Directors at 31st August 2023 and based on the current market values of similar assets in the area of the company Investments. The Directors deem that the fair value of the assets is £175,000 If investment properties were stated on a historical cost basis rather than a fair value basis, the amounts would have been included at £175,000

SCUDERIA PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

4. Creditors: amounts falling due within one year note

2023
£
Accruals and deferred income 480
Other creditors 67,878
Total 68,358

SCUDERIA PROPERTIES LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Creditors: amounts falling due after more than one year note

2023
£
Bank loans and overdrafts 108,321
Total 108,321