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Company registration number: SC535686
SK1property Edinburgh Limited
Unaudited filleted financial statements
31 January 2024
SK1property Edinburgh Limited
Contents
Directors and other information
Accountant's report
Statement of financial position and notes to the financial statements
SK1property Edinburgh Limited
Directors and other information
Director Steven Alan Kermack
Company number SC535686
Registered office 1/17
Woodcroft Road
Edinburgh
EH10 4FD
Accountant John Lynch & Co
Torridon House
Torridon Lane
Rosyth
Fife
KY11 2EU
SK1property Edinburgh Limited
Report to the director on the preparation of the
unaudited statutory financial statements of SK1property Edinburgh Limited
Year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of SK1property Edinburgh Limited for the year ended 31 January 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of ICAS , I am subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.
This report is made solely to the director of SK1property Edinburgh Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of SK1property Edinburgh Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than SK1property Edinburgh Limited and its director as a body for my work or for this report.
It is your duty to ensure that SK1property Edinburgh 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 SK1property Edinburgh Limited. You consider that SK1property Edinburgh Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of SK1property Edinburgh Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
John Lynch & Co
Chartered Accountants
Torridon House
Torridon Lane
Rosyth
Fife
KY11 2EU
21 May 2024
SK1property Edinburgh Limited
Statement of financial position
31 January 2024
2024 2023
£ £
Fixed assets 1,453,080 1,453,956
_______ _______
Current assets 13,652 8,914
Creditors: amounts falling due within one year ( 443,717) ( 468,564)
_______ _______
Net current liabilities ( 430,065) ( 459,650)
_______ _______
Total assets less current liabilities 1,023,015 994,306
Creditors: amounts falling due after more than one year ( 840,000) ( 818,332)
Accruals and deferred income ( 2,500) 2,500
_______ _______
Net assets 180,515 178,474
_______ _______
Capital and reserves 180,515 178,474
_______ _______
SK1property Edinburgh Limited
Year ended 31 January 2024
Notes to the financial statements
1. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
2. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Steven Alan Kermack ( 13,000) 23,000 - 10,000
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Steven Alan Kermack ( 48,034) ( 13,000) 48,034 ( 13,000)
_______ _______ _______ _______
The Overdrawn Directors Loan Account is to be repaid in full within 9 months of the year end and therefore no S455 taxation is payable.
For the 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 responsiblities:
- The members have not required the company to obtain an audit of its accounts 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 accounts.
The financial statements have been prepared in accordance with the micro-entity provisions and have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of directors and authorised for issue on 21 May 2024 , and are signed on behalf of the board by:
Steven Alan Kermack
Director
Company registration number: SC535686
The company is a private company limited by shares, registered in Scotland.