IRIS Accounts Production v24.2.0.383 07183018 director 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071830182022-12-31071830182023-12-31071830182023-01-012023-12-31071830182021-12-31071830182022-01-012022-12-31071830182022-12-3107183018ns15:EnglandWales2023-01-012023-12-3107183018ns14:PoundSterling2023-01-012023-12-3107183018ns10:Director12023-01-012023-12-3107183018ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107183018ns10:SmallEntities2023-01-012023-12-3107183018ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3107183018ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107183018ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107183018ns10:FullAccounts2023-01-012023-12-3107183018ns10:CompanySecretary12023-01-012023-12-3107183018ns10:RegisteredOffice2023-01-012023-12-3107183018ns5:CurrentFinancialInstruments2023-12-3107183018ns5:CurrentFinancialInstruments2022-12-3107183018ns5:ShareCapital2023-12-3107183018ns5:ShareCapital2022-12-3107183018ns5:RevaluationReserve2023-12-3107183018ns5:RevaluationReserve2022-12-3107183018ns5:RetainedEarningsAccumulatedLosses2023-12-3107183018ns5:RetainedEarningsAccumulatedLosses2022-12-3107183018ns5:ComputerEquipment2023-01-012023-12-3107183018ns5:ComputerEquipment2022-12-3107183018ns5:ComputerEquipment2023-12-3107183018ns5:ComputerEquipment2022-12-3107183018ns5:CostValuation2022-12-3107183018ns5:AdditionsToInvestments2023-12-3107183018ns5:CostValuation2023-12-3107183018ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3107183018ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3107183018ns5:Secured2023-12-3107183018ns5:Secured2022-12-3107183018ns5:RevaluationReserve2022-12-31
REGISTERED NUMBER: 07183018 (England and Wales)













Unaudited Financial Statements for the Year Ended 31 December 2023

for

Scott Arms Properties Limited

Scott Arms Properties Limited (Registered number: 07183018)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Scott Arms Properties Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Dr P Tangri





SECRETARY: S L Sedgwick





REGISTERED OFFICE: 920 Walsall Road
Great Barr
Birmingham
B42 1TG





REGISTERED NUMBER: 07183018 (England and Wales)





ACCOUNTANTS: Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Scott Arms Properties Limited

The following reproduces the text of the report prepared for the director 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report 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 Arms Properties Limited for the year ended 31 December 2023 which comprise the Profit and loss account, Balance Sheet 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 director of Scott Arms Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Scott Arms Properties Limited and state those matters that we have agreed to state to the director of Scott Arms Properties Limited 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 Arms Properties Limited and its director for our work or for this report.

It is your duty to ensure that Scott Arms Properties 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 Arms Properties Limited. You consider that Scott Arms Properties 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 Arms Properties 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.






Wilkes Tranter & Co Limited
Brook House
Moss Grove
Kingswinford
West Midlands
DY6 9HS


13 August 2024

Scott Arms Properties Limited (Registered number: 07183018)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,372 7,163
Investments 5 378,250 333,250
Investment property 6 13,456,996 11,155,455
13,840,618 11,495,868

CURRENT ASSETS
Debtors 7 2,269,828 459,863
Cash at bank and in hand 2,908,142 5,965
5,177,970 465,828
CREDITORS
Amounts falling due within one year 8 (7,527,283 ) (2,412,902 )
NET CURRENT LIABILITIES (2,349,313 ) (1,947,074 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,491,305

9,548,794

PROVISIONS FOR LIABILITIES (46,145 ) (35,410 )
NET ASSETS 11,445,160 9,513,384

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 539,078 539,078
Retained earnings 10,905,982 8,974,206
11,445,160 9,513,384

Scott Arms Properties Limited (Registered number: 07183018)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 August 2024 and were signed by:





Dr P Tangri - Director


Scott Arms Properties Limited (Registered number: 07183018)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Scott Arms Properties 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.

Preparation of consolidated financial statements
The financial statements contain information about Scott Arms Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 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 Profit and loss account, 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 balance sheet date.


Scott Arms Properties Limited (Registered number: 07183018)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 January 2023
and 31 December 2023 33,771
DEPRECIATION
At 1 January 2023 26,608
Charge for year 1,791
At 31 December 2023 28,399
NET BOOK VALUE
At 31 December 2023 5,372
At 31 December 2022 7,163

Scott Arms Properties Limited (Registered number: 07183018)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 333,250
Additions 45,000
At 31 December 2023 378,250
NET BOOK VALUE
At 31 December 2023 378,250
At 31 December 2022 333,250

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 11,155,455
Additions 2,301,541
At 31 December 2023 13,456,996
NET BOOK VALUE
At 31 December 2023 13,456,996
At 31 December 2022 11,155,455

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2017 171,048
Valuation in 2013 368,030
Cost 12,917,918
13,456,996

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 567 -
Other debtors 2,269,261 459,863
2,269,828 459,863

Scott Arms Properties Limited (Registered number: 07183018)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 287,669
Trade creditors 16,867 3,943
Amounts owed to group undertakings 2,300 2,000
Taxation and social security 74,437 48,003
Other creditors 7,433,679 2,071,287
7,527,283 2,412,902

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 287,669

The bank loans are secured by a fixed and floating charge over the company's assets.

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 539,078

11. RELATED PARTY DISCLOSURES

During the year the company provided an interest free loan to Scott Arms Homes Limited, a company in which Dr P Tangri is a director. The balance due from Scott Arms Homes Limited at 31 December 2023 amounted to £993,830 (2022 - £452,572).

During the year the company provided an interest free loan to Amie Lane Management Limited, a company in which Dr P Tangri is a director. The balance due from Amie Lane Management Limited at 31 December 2023 amounted to £5,777.

During the previous year the company received an interest free loan from Amie Lane Management Limited, a company in which Dr P Tangri is a director. The balance due to Amie Lane Management Limited at 31 December 2022 amounted to £1,197.

During the year the company received an interest free loan from Scott Arms Holdings Limited, the parent company. The balance due to Scott Arms Holdings Limited at 31 December 2023 amounted to £2,300 (2022 - £2,000).

12. ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is Scott Arms Holdings Limited, a company incorporated in England and Wales. Registered office 914-916 Walsall Road, Great Barr, Birmingham, B42 1TG