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SCORPION ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH JULY 2024






SCORPION ENTERPRISES LIMITED (REGISTERED NUMBER: 01019344)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 8

SCORPION ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JULY 2024







DIRECTORS: N T Whitham
Mrs J J M Whitham
L R Spacey





REGISTERED OFFICE: Unit 4 Stilebrook Road
Olney
Buckinghamshire
MK46 5EA





REGISTERED NUMBER: 01019344 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

SCORPION ENTERPRISES LIMITED (REGISTERED NUMBER: 01019344)

BALANCE SHEET
30TH JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 848,796 868,917
Investments 5 4 4
848,800 868,921

CURRENT ASSETS
Stocks - 10,000
Debtors 6 258,177 206,248
Cash at bank and in hand 280,666 695,392
538,843 911,640
CREDITORS
Amounts falling due within one year 7 50,272 147,437
NET CURRENT ASSETS 488,571 764,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,337,371

1,633,124

CREDITORS
Amounts falling due after more than one year 8 - (232,136 )

PROVISIONS FOR LIABILITIES - (6,548 )
NET ASSETS 1,337,371 1,394,440

CAPITAL AND RESERVES
Called up share capital 3,700 3,700
Capital redemption reserve 1,300 1,300
Retained earnings 1,332,371 1,389,440
1,337,371 1,394,440

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th July 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.

SCORPION ENTERPRISES LIMITED (REGISTERED NUMBER: 01019344)

BALANCE SHEET - continued
30TH JULY 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th November 2024 and were signed on its behalf by:





N T Whitham - Director


SCORPION ENTERPRISES LIMITED (REGISTERED NUMBER: 01019344)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JULY 2024

1. STATUTORY INFORMATION

Scorpion Enterprises 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised wheen all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains no effective control over the good sold;
- the amount of revenue can be reliably measured;
- it is probable that the company will receive the consideration due under the transaction; and
- the costs incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be reliably measured;
- it is probable that the company will receive the consideration due under the contract; and
- the costs incurred and the costs to complete the contract can be measured reliably.

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 - 12.5% on cost

The freehold property is included at historic cost, including costs of acquisition and attributable costs.

No depreciation is provided on freehold property as the director believes the realisable value is significantly greater than the cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

SCORPION ENTERPRISES LIMITED (REGISTERED NUMBER: 01019344)

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

2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 17 ) .

SCORPION ENTERPRISES LIMITED (REGISTERED NUMBER: 01019344)

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

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 31st July 2023 842,727 2,884,032 3,726,759
Disposals - (2,801,025 ) (2,801,025 )
At 30th July 2024 842,727 83,007 925,734
DEPRECIATION
At 31st July 2023 - 2,857,842 2,857,842
Charge for year - 4,021 4,021
Eliminated on disposal - (2,784,925 ) (2,784,925 )
At 30th July 2024 - 76,938 76,938
NET BOOK VALUE
At 30th July 2024 842,727 6,069 848,796
At 30th July 2023 842,727 26,190 868,917

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 31st July 2023
and 30th July 2024 4
NET BOOK VALUE
At 30th July 2024 4
At 30th July 2023 4

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,810 608
Amounts owed by participating interests 176,805 159,615
Directors' current accounts 28,964 -
Tax 78 -
VAT 4,140 -
Prepayments and accrued income 43,380 46,025
258,177 206,248

At the balance sheet date Scorpion Enterprises Limited was owed £159,615 (2022 £273,985) from Whitrust Limited, a company with common directors.

SCORPION ENTERPRISES LIMITED (REGISTERED NUMBER: 01019344)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 35,227 44,729
Social security and other taxes - 14,395
VAT - 20,340
Other creditors 7,000 8,000
Directors' current accounts 3,295 53,799
Accruals and deferred income 4,750 6,174
50,272 147,437

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings - 232,136

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30th July 2024 and the period ended 30th July 2023:

2024 2023
£    £   
N T Whitham
Balance outstanding at start of year - -
Amounts advanced 28,964 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,964 -

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SCORPION ENTERPRISES 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 Statement of Comprehensive Income 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 Scorpion Enterprises Limited for the year ended 30th July 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 Scorpion Enterprises 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 Scorpion Enterprises Limited and state those matters that we have agreed to state to the Board of Directors of Scorpion Enterprises 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 Scorpion Enterprises Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Scorpion Enterprises 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 Scorpion Enterprises Limited. You consider that Scorpion Enterprises 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 Scorpion Enterprises 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.






HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN


20th November 2024