SCHOLES LIMITED

Company Registration Number:
SC589210 (Scotland)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

SCHOLES LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

SCHOLES LIMITED

Company Information

for the Period Ended 31 March 2024




Director: Leonard Scholes
Debbie Scholes
Marcus Scholes
Registered office: Strathgary
Craigiefield Road
St. Ola
Kirkwall
Orkney
GBR
KW15 1UJ
Company Registration Number: SC589210 (Scotland)

SCHOLES LIMITED

Directors' Report Period Ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal Activities

Letting and operating of own or leased real estate

Directors

The directors shown below have held office during the whole of the period from 01 April 2023 to 31 March 2024
Leonard Scholes
Debbie Scholes
Marcus Scholes

This report was approved by the board of directors on 12 October 2024
And Signed On Behalf Of The Board By:

Name: Leonard Scholes
Status: Director

SCHOLES LIMITED

Profit and Loss Account

for the Period Ended 31 March 2024


Notes

2024
£

2023
£
Turnover 6,996 3,229
Gross Profit or (Loss) 6,996 3,229
Administrative Expenses ( 441 ) ( 447 )
Operating Profit or (Loss) 6,555 2,782
Interest Payable and Similar Charges ( 10,632 ) ( 7,094 )
Profit or (Loss) Before Tax ( 4,077 ) ( 4,312 )
Profit or (Loss) for Period ( 4,077 ) ( 4,312 )

The notes form part of these financial statements

SCHOLES LIMITED

Balance sheet

As at 31 March 2024


Notes

2024
£

2023
£
Fixed assets
Tangible assets: 4 315,621 315,621
Total fixed assets: 315,621 315,621
Current assets
Cash at bank and in hand: 428 61
Total current assets: 428 61
Creditors: amounts falling due within one year: 5 ( 2,655 ) ( 3,700 )
Net current assets (liabilities): ( 2,227 ) ( 3,639 )
Total assets less current liabilities: 313,394 311,982
Creditors: amounts falling due after more than one year: 6 ( 350,976 ) ( 345,586 )
Total net assets (liabilities): ( 37,582 ) ( 33,604 )

The notes form part of these financial statements

SCHOLES LIMITED

Balance sheet continued

As at 31 March 2024


Notes

2024
£

2023
£
Capital and reserves
Called up share capital: 300 300
Profit and loss account: ( 37,882 ) ( 33,904 )
Shareholders funds: ( 37,582 ) ( 33,604 )

For the year ending 31 March 2024 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.

This report was approved by the board of directors on 12 October 2024
And Signed On Behalf Of The Board By:

Name: Leonard Scholes
Status: Director

The notes form part of these financial statements

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees


    2024

    2023
    Average number of employees during the period 0 0

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 3. Off balance sheet disclosure

    No

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible assets

Land & buildings Total
Cost £ £
At 01 April 2023 315,621 315,621
Additions - -
Disposals - -
Revaluations - -
Transfers - -
At 31 March 2024 315,621 315,621
Depreciation
At 01 April 2023 - -
Charge for year - -
On disposals - -
Other adjustments - -
At 31 March 2024 - -
Net book value
At 31 March 2024 315,621 315,621
At 31 March 2023 315,621 315,621

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5.Creditors: amounts falling due within one year note


2024
£

2023
£
Bank loans and overdrafts 2,655 3,700
Total 2,655 3,700

SCHOLES LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6.Creditors: amounts falling due after more than one year


2024
£

2023
£
Bank loans and overdrafts 124,882 126,692
Other creditors 226,094 218,894
Total 350,976 345,586