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REGISTERED NUMBER: 02473289 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Scott Property Development Limited

Scott Property Development Limited (Registered number: 02473289)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Scott Property Development Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D J Scott
A E Scott





SECRETARY: D J Scott





REGISTERED OFFICE: Unit 1 Chestnut House
Pollard Street
Lofthouse Gate
Wakefield
West Yorkshire
WF3 3HG





REGISTERED NUMBER: 02473289 (England and Wales)





ACCOUNTANTS: Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS

Scott Property Development Limited (Registered number: 02473289)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 51,311 11,594
Investment property 5 1,576,995 1,570,000
1,628,306 1,581,594

CURRENT ASSETS
Debtors 6 3,569 13,036
Cash at bank 1,020,716 964,808
1,024,285 977,844
CREDITORS
Amounts falling due within one year 7 (160,868 ) (125,796 )
NET CURRENT ASSETS 863,417 852,048
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,491,723

2,433,642

PROVISIONS FOR LIABILITIES 8 (161,155 ) (114,897 )
NET ASSETS 2,330,568 2,318,745

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,330,468 2,318,645
SHAREHOLDERS' FUNDS 2,330,568 2,318,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

Scott Property Development Limited (Registered number: 02473289)

Statement of Financial Position - continued
31 March 2024



The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





D J Scott - Director


Scott Property Development Limited (Registered number: 02473289)

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

1. STATUTORY INFORMATION

Scott Property Development Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the amounts received or receivable for goods and services provided to customers, excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures & fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Scott Property Development Limited (Registered number: 02473289)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Operating leases
Property rents receivable less related expenses are accounted for on a straight line basis over the period of each lease, and are included within turnover.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Fixtures Motor
machinery & fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 479 5,026 24,001 29,506
Additions 200 - 58,280 58,480
Disposals - - (2,507 ) (2,507 )
At 31 March 2024 679 5,026 79,774 85,479
DEPRECIATION
At 1 April 2023 132 3,727 14,053 17,912
Charge for year 101 195 16,587 16,883
Eliminated on disposal - - (627 ) (627 )
At 31 March 2024 233 3,922 30,013 34,168
NET BOOK VALUE
At 31 March 2024 446 1,104 49,761 51,311
At 31 March 2023 347 1,299 9,948 11,594

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,570,000
Additions 6,995
At 31 March 2024 1,576,995
NET BOOK VALUE
At 31 March 2024 1,576,995
At 31 March 2023 1,570,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 1,209,270
Valuation in 2022 360,730
Valuation in 2024 6,995
1,576,995

Scott Property Development Limited (Registered number: 02473289)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Prepayments & accrued income 3,569 13,036

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Corporate taxation 19,822 28,136
Social security and other taxes 406 122
Other creditors 20,345 14,645
Directors' current accounts 118,188 79,188
Accruals & deferred income 2,107 3,705
160,868 125,796

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 161,155 114,897

Deferred
tax
£   
Balance at 1 April 2023 114,897
Provided during year 46,258
Balance at 31 March 2024 161,155

9. ULTIMATE CONTROLLING PARTY

The controlling party is D J Scott.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Scott Property Development Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scott Property Development Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Scott Property Development Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Scott Property Development Limited and state those matters that we have agreed to state to the Board of Directors of Scott Property Development Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scott Property Development Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Scott Property Development Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Scott Property Development Limited. You consider that Scott Property Development Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Scott Property Development Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Stirk Lambert & Co
Chartered Accountants
Russell Chambers
61a North Street
Keighley
West Yorkshire
BD21 3DS


3 September 2024