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REGISTERED NUMBER: 08573575 (England and Wales)















SCOZAK DEVELOPMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






SCOZAK DEVELOPMENT LIMITED (REGISTERED NUMBER: 08573575)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

SCOZAK DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: G D Smallbone
R Smallbone





REGISTERED OFFICE: Batchworth Lock House
99 Church Street
Rickmansworth
WD3 1JJ





REGISTERED NUMBER: 08573575 (England and Wales)





ACCOUNTANTS: Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ

SCOZAK DEVELOPMENT LIMITED (REGISTERED NUMBER: 08573575)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 2,739 3,770
Investments 5 150 150
2,889 3,920

CURRENT ASSETS
Debtors 6 1,031,405 494,825
Cash at bank 27,784 252,711
1,059,189 747,536
CREDITORS
Amounts falling due within one year 7 922,258 325,972
NET CURRENT ASSETS 136,931 421,564
TOTAL ASSETS LESS CURRENT LIABILITIES 139,820 425,484

PROVISIONS FOR LIABILITIES 520 716
NET ASSETS 139,300 424,768

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 139,199 424,667
SHAREHOLDERS' FUNDS 139,300 424,768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





G D Smallbone - Director


SCOZAK DEVELOPMENT LIMITED (REGISTERED NUMBER: 08573575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Scozak 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.

Going concern basis
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. The company therefore continues to adopt the going concern basis in preparing its financial statements.

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 etc - 25% on reducing balance

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Freehold property held is not depreciated and stated at historical cost. As the freehold properties are maintained to a good standard, that the aggregate value of the freehold property, without actually revaluing, at the reporting date is not less than the aggregate amount at which they are stated in the financial statements. The freehold property is accordingly stated in the financial statements on the basis that the residual value is greater than the asset's carrying amount and the depreciation charge is zero until its residual value subsequently decreases to an amount below the carrying amount.

Financial instruments
a) Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

b) Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

c) Cash at bank and in hand
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

d) Interest income
Interest income is recognised in profit or loss using the effective interest method.


SCOZAK DEVELOPMENT LIMITED (REGISTERED NUMBER: 08573575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
-the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
-any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 July 2023
and 30 June 2024 7,494
DEPRECIATION
At 1 July 2023 3,724
Charge for year 1,031
At 30 June 2024 4,755
NET BOOK VALUE
At 30 June 2024 2,739
At 30 June 2023 3,770

SCOZAK DEVELOPMENT LIMITED (REGISTERED NUMBER: 08573575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 July 2023
and 30 June 2024 150
NET BOOK VALUE
At 30 June 2024 150
At 30 June 2023 150

6. DEBTORS
30.6.24 30.6.23
£ £
Amounts falling due within one year:
Trade debtors - 40,040
Other debtors 206,405 454,785
206,405 494,825

Amounts falling due after more than one year:
Amounts owed by participating interest 825,000 -

Aggregate amounts 1,031,405 494,825

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£ £
Trade creditors 1,929 -
Taxation and social security - 40,236
Other creditors 920,329 285,736
922,258 325,972

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £190,000 (2023 - £280,000) were paid to the directors .

At the reporting date, amount due to the directors was £918,179 (2023: £277,913). Amounts outstanding are unsecured, attracts no interest with no fixed terms of repayment. Directors consider the amounts to be long-term in nature.

During the reporting period, services rendered to the company by related parties totalled £33,596 (2023: £106,709). At the reporting date, outstanding balance was £nil (2023: £40,040). A number of the company's directors are regarded as common key management personnel.

At the reporting date, amount due from a participating company was £825,000. The amount is an unsecured convertible loan notes, loan notes attract interest at 5.5% per annum, with no fixed terms of repayment and considered payable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SCOZAK 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 Balance Sheet. 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 Scozak Development Limited for the year ended 30 June 2024 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 Board of Directors of Scozak 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 Scozak Development Limited and state those matters that we have agreed to state to the Board of Directors of Scozak 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 Scozak Development Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Scozak 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 loss of Scozak Development Limited. You consider that Scozak 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 Scozak 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.






Cox Costello & Horne
Chartered Accountants and Tax Advisors
Batchworth Lock House
99 Church Street, Rickmansworth
WD3 1JJ


24 October 2024