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REGISTERED NUMBER: 12458630 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2024

FOR

SCOMART LIMITED

SCOMART LIMITED (REGISTERED NUMBER: 12458630)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SCOMART LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2024







DIRECTORS: R Martin
J A Schofield





REGISTERED OFFICE: Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH





REGISTERED NUMBER: 12458630 (England and Wales)





ACCOUNTANTS: Bewers Turner & Co LLP
Chartered Accountants
Portland House
11-13 Station Road
Kettering
Northamptonshire
NN15 7HH

SCOMART LIMITED (REGISTERED NUMBER: 12458630)

BALANCE SHEET
28TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 5,851,811 5,851,811

CURRENT ASSETS
Cash at bank 321,853 250,569

CREDITORS
Amounts falling due within one year 5 5,193,242 5,468,106
NET CURRENT LIABILITIES (4,871,389 ) (5,217,537 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

980,422

634,274

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 980,322 634,174
980,422 634,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th October 2024 and were signed on its behalf by:





R Martin - Director


SCOMART LIMITED (REGISTERED NUMBER: 12458630)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2024


1. STATUTORY INFORMATION

Scomart 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The directors have prepared the accounts on the going concern basis, notwithstanding the company has net current liabilities. Cashflow forecasts, incorporating reasonable levels of market sensitivity, demonstrate the company will continue to operate profitability for the foreseeable future and certainly no less than twelve months from signing these accounts.

Significant judgements and estimates
Management has exercised its judgement as to the market value of the company's investment properties.

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

Investment property
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.

Financial instruments
The company is party to only the basic financial instruments such as cash, trade debtors and creditors. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment.

3. EMPLOYEES AND DIRECTORS

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

SCOMART LIMITED (REGISTERED NUMBER: 12458630)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2023
and 28th February 2024 5,851,811
NET BOOK VALUE
At 28th February 2024 5,851,811
At 28th February 2023 5,851,811

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 677 686
Taxation and social security 112,244 87,099
Other creditors 5,080,321 5,380,321
5,193,242 5,468,106